Forex Trading Signals – How to Spot the Trend in Currency Trading

You may have heard of this frequently in some Forex trading tutorials, ‘Trend is your best friend’. So there is really nothing to be afraid of trends in Forex trading. In fact, one should leverage the power of the trend to make money in currency trading.

Although many people is aware that they have to trade with the trend, but surprisingly for some reason, a lot of people may have problem of spotting a real trend. It may be true that different people has different views on whether the currency pair is trendy or not. But the bottom line is, if you can’t spot a trend in Forex trading, there is nothing else much simpler that you can do.

The first step that anyone attempts to trade the Forex will be identifying the trend, wait for a good entry point into the existing trend and then hope to ride the trend as long as possible. So they will try to figure out whether its a down trend or up trend by looking at their arsenal of Forex indicators. Are you doing the same too? If you are, that is the mistake that most people make! You should train your eyes to judge instead of using those moving averages to be able to know where the trend is.

So how do you do it? It’s not as difficult as you think it is…yes, it’s simple! What you have to do is to pull out a chart of the currency pair that you would like to trade. First look at the chart and try not to look for very long, the first impression will always be the more accurate one. If price is going upwards from the bottom and if the past 3 to 5 candlesticks are bullish, then it’s obviously an up trend. Vice versa for a down trend.

If you are a short term trader, you should look at longer time frame charts to have an idea on what the main trend is before looking for Forex trading signals in shorter time frame. For example, if you are trading using the 1 hourly time frame, you should also be looking at the 4 hour and daily charts to see what is the trend of the longer term. This will definitely filter off some whipsaws. Another example, if you are scalping the 5 minutes chart, what should you do? Yes, you will be looking at the 15 minutes and 1 hourly chart to read the trend.

Knowing where the trend is going always put you in the driving seat. So start training your eyes from now on to look at whether the charts are trendy or not. You can be sure that you will consistently make profits when you follow the trend with a Forex trading system.

Source by Daniel S.

Turning A Trading Idea Into A Trading System in Forex

Before back-testing may start, your trading thought needs to be flipped into trading principles that are objective, reproducible, and also equipped to be more optimized. One common error is to attempt and back-test a trading plan or thought that’s based on subjectivity. Many popular Techniques Exit essential parameters you need to guess at. By way of instance, ways beneath the umbrella of”Elliott wave counting” are notorious for being hard to back-test, as in which the tide is measured out of profoundly impacts the back-test results a lot more than the procedure itself.

As you create trading rules, you’ll be impressed at the number of trading slogans like”The trend is your friend” become useless, and because they may not be measured to hard, chilly trading principles. Because of this, the criteria for locating a trend change considerably in trading strategies.

Locating the Fittest System

After the first set of trading rules is created, you may start mimicking what would occur if they had been followed as time passes. The period is the assortment of times and dates when you’ll be analyzing the trading platform. The fitness function is a part or step which you use to evaluate coverages and the way you maximize your program’s parameters. By way of instance, a gym might be a net gain or loss.

Quick Backtesting using Excel

First, back-tests could be quickly performed in Excel. Glue your historical time series into Excel, then put in your formulation, and use it to each of the cells at the time string. The simplest way to say this is by merely assigning every kind of market place with a –1 (market ), 0 (from the marketplace ), or even a 1 (purchase ). Then compute gain or loss, subtracting a spread and trade price.

I suggest Assessing Excel thoroughly before purchasing a costly tool. This guarantees you are aware of how it functions from the bottom up. Articles on back-testing typically indicate two distinct principles for the dimensions of your historical data collection. Furthermore, it’s frequently stated that you need to check your trading platform under conditions like the present sector. Subtly sufficient, these tips introduce subjectivity.

Rather than the trading rules subjective into the trading platform proprietor, today’s market terms become entirely subjective. You read on a website on a trading platform with a yearly yield of 22 percent by way of instance. It’s had a permanent winning record during the previous 12 months, and that you are prepared to buy the platform (likely for much a lot!). Once you get the machine, you trade the machine principles correctly. When you don’t reach a 22 percent yield and possibly even get a negative return, you are advised that the market condition has changed! Hence, the trading system principles can’t predict market requirements any more than forecast future costs depending on the previous! This phenomenon shows another frequent error created when back-testing. Curve matching is a phrase taken from data, usually utilized to refer to nonlinear regression. I shall explain using an example. You’re back-testing secure trading thought that requires two parameters. However, because you continue to alter the parameters, you detect that specific values produce greater, positive yields. If you opt for both parameters that supply the most significant gains, then you’re mainly predicting the time collection of market information will appear just like your historic evaluation in the future. How can you mitigate this underlying issue?

There are lots of methods for reducing curve matching at a back-test. The first strategy is to maintain your trading thought undamaged. If you cannot state your trading thought, not just in market action but also market activity dimensions, you have to return to the drawing board and then keep work in your own trading thought. Moreover, you may back-test on various niches and proceed to the window of their back-test ahead and backward to find market requirements, installments, or designs that are ideal to your own system. For instance, you may want to back-test just on times where a distinct financial index is published. Back-testing to the latest information can capitalize on current market shocks. Advanced math provides many back-testing methods that create outcomes, pointing to how volatility and quantity display short-term memory. That is because markets comprise of all of the data held by individuals with positions on the marketplace, which intuitively bear in mind the short-term previously. This is the reason why long-term back-testing, while initially instinctive, may lead to over-optimization and curve matching.

And do you want to read more blog posts like this about similar topics? If so, Click Here to read more of my articles.

Source by Jean Taylor

5 Tips to Find the Best Online MBA Program

Masters in Business Administration is one of the most popular courses in brick and mortar as well as online colleges. Almost every online university offers this course. That is all the more reason why you should be careful in picking the right university for completing your degree. The wrong choice could waste your time and money and not provide any value either.


With a lot of students wanting get an MBA and add more security to their careers, a lot of colleges are out there to trick them. Not only is the course expensive, but it is also a good source of income for colleges, given the influx every year. That is why you must ensure that the college you are applying to, has an accreditation from recognised institutions and that the degree they offer is valid. Without checking for this accreditation it would be unwise to enrol for any online course for that matter.


If an online course has lot of students enrolled supporting all the students could prove difficult. Support could involve addressing students’ questions and concerns, providing face time with the tutors and offering a mentor to provide career advice. Without this support, it would be very hard to complete Master’s in Business Administration, as it will prove really difficult. So the course you are enrolling in must offer support, with the teacher student ratio being as high as possible, preferably around 10 – 15 students per tutor.

Learning management system

If an online university doesn’t give you the benefits of a learning management system, there is no point enrolling in that college. A learning management system is more like a common platform for all the students, a website where every student has a login profile to get all the information related to their courses including timetable for exams, lesson schedules, online teaching material shared, downloads available if any etc.

Opportunity for internships

It would be unwise to think you will be able to think your Master’s in a field like business administration online entirely. The university should be reputed enough and have associations with top companies so that students of MBA programs can get a chance to complete projects and internships and learn more about the industry, adding to their learning experience. If the brand of the university couldn’t find your seniors decent internships or projects, chances are that the program is not highly valued in the industry and it is best to not enroll for it. The same holds for the opportunity of jobs when you complete education. Talking to past students will always provide sufficient information in this regards.


This is one factor that holds good not only for MBA but for all online courses. Unless you get the flexibility, online programs cannot be ruled a better option than joining full time college. This flexibility is possible through recorded lectures, good content, chat sessions with tutors etc. allowing those with a day time job to do justice to their course and education.

Source by John Jee

Forex-ology Simplified – 5 Unorthodox Steps of a Winning Forex Strategy

First of all, I want to stress that this trading system of mine is no holy grail and anyone can use it successfully if they follow the rules of the trading system. I have been trading for years and this is one of my forex trading strategies that have helped me made profits consistently.

I have always kept my trading systems simple because it’s the simple system that works in this ever-changing brutal currency market. Surprised by that? Did you think that a successful trading system has to be sophisticated and difficult to use? Doing well from the forex market depends on how effectively the trader himself uses the trading system and not how good the trading system is.

So now I will reveal a forex strategy that I use very often to profit consistently from the market. After you read it, you may think that actually it’s such a simple system. But like I said earlier, trading should be simple, don’t complicate it. Below are the steps of my forex day trading strategy:

Step 1: Look at the main trend using daily chart. The first look from left to right of the chart should tell you it’s a down trend or up trend.

Step 2: After knowing what the main forex trend is, I will go to Forex Factory website to check for for any news releases. If there are upcoming news in 2 hours, I won’t even go to step 3 to look for trading signals because there is a high likelihood of whipsaws.

Step 3: If there is no news, I will put my forex trading plan into action. For example, if the main trend is up, I will only be looking for buy signals generated from my forex indicators, Vice versa if the main trend is down.

Step 4: Now this is the most crucial stage and my trading decision lies here. I use the crossing of 4 EMA (Exponential Moving Average) and 23 EMA to define buy and sell signals on the 30 minute chart. There are other indicators involved, the weekly pivot, Stochastic and MACD (Moving Average Convergence Divergence) must also follow the trend and cannot look flat. I filter whipsaws by trading only during high liquidity sessions and checking whether the trend is the same using 4 hourly chart. That’s all!

Step 5: The trade is set at a tight stop loss of around 35 pips while I have 2 methods of targeting profit. One is using healthy risk to reward ratio of at least 1:2. The second is using daily support and resistance.

That’s my successful forex trading system. It’s simple isn’t it? Of course risk management, money management and psychology should be combined in this trading system for it to work properly.

Source by Daniel S.

Avoid This One Deadly Mistake to Become a Successful Forex Trader

Ah yes, this one mistake will eat you alive. It will empty your forex trading account. It will break your spirit like no other trading mistakes will. This is the very same mistake that every trader would have made at least once in his or her trading experience. But if you can avoid this costly mistake, half your battle for successful forex trading is won.

So what is this monster of a mistake?

It is over-leveraging a trade and not cutting its loss when it begins to go the wrong way, instead letting the loss snowball into something out of control. Just making this mistake one time… yes one single time, will make you doubt if you could ever recover your losses or even damage your psyche and cause you to abandon forex trading altogether.

If you have been trading, you will know exactly what I am talking about. If you’re about to begin learning forex trading, you would probably have heard about the dangers of trading – losing your capital in double quick time.

And this is exactly the danger you’ve been hearing about trading that even the most professional traders are susceptible to making.

The truth is that you DO NOT have to make this mistake of suffering a mega loss on a single trade. But due to human nature, greed, fear and so forth, overcoming these “mental barriers” can be challenging for many.

With that said, do not let that discourage you. Because if you are determined to succeed at forex trading, you will persevere and overcome this problem eventually. And thereafter you will find that making money from forex trading isn’t difficult at all.

If you are serious in becoming a successful forex trader, get started right here today!

Source by Paul Lum

10 Steps to Successful Automatic Forex Trading With Expert Advisors

A Forex Expert Advisor (also know by other names such as Forex Trading Robot, EA, MT4 EA, Automated Forex Trading Software) is a mechanical trading system written in the MQL-4 programming language and designed to automate trading activities on the MetaTrader4 platform.

Hundreds of brokers and system developers are enticing new traders into trading the Forex market with claims of double digit or higher returns in a short space of time by using MetaTrader4 automatic trading systems, called Expert Advisors. The reality is that 95% of new traders lose their trading bank in the first couple of months. How can you ensure that you are part of the successful 5%?

Here are 10 tips that can help you achieve quick success when first starting off as a Forex trader.

  • Get familiar with the Forex market. You can’t possibly hope to successfully trade a market that you do not understand. Don’t listen to all the hype that “newbies” can buy an automatic system and be successful immediately. The Forex is a very exciting market but you need to read and learn about this beast before trying to trade it.
  • Purchase a commercially available Expert Advisor (automatic trading system) that offers a user support forum. There are systems that you can get for free, but if you are just starting out you should consider purchasing a system that provides good customer support and also offers a user forum where you can read about the problems and the solutions encountered by fellow traders.
  • Choose the system before you choose the broker. Different Expert Advisors trade on different currency pairs and different brokers offer different spreads. Once you know exactly what and how your system will be trading, you can then shop around for the best broker.
  • Choose a reputable broker who offers the MetaTrader4 trading platform free. There a literally hundreds of brokers now offering MT4, but some are more reputable than others. Only choose a regulated broker. User forums often contain discussions on broker performance.
  • Learn how to use MetaTrader 4. Make an effort to fully familiarize yourself with the trading platform so that you can set up your Expert Advisor up correctly and not make silly parameter errors. When in doubt, read the manual.
  • Know the difference between fixed and variable spreads. Some brokers offer fixed spreads and are usually market makers. Other types of brokers, like ECN brokers, offer variable spreads. Make sure you understand the effect this has on how your particular system trades as it can have a significant impact on your returns.
  • Experiment with micro lots when breaking in a new system. Brokers offer a range of lot sizes – there are standard mini and micro lots. Make sure you know the difference before you trade and choose only a micro lot account if you have a small trading bank or are just starting out with a new system.
  • Open a demo account. Most if not all brokers will offer a demo account which you can practise with before risking real money. If you are trading a new system or are new to trading it is a good idea to experiment for a period on a demo account first.
  • Start trading with small risk. Ensure you understand the value of each pip for the currency pair(s) you trade in your new system. There are pip calculators available on the Internet that will provide this information quickly for you.
  • Never get greedy. Never raise your risk above the recommended levels for the system you are trading. The user forums are often a good source of commentary on risk levels for a particular system.

Conclusion: Choosing the right broker and the right type of account is just as important as choosing the right system. If you need more help in choosing the right system, check out the live results and detailed reviews for top selling systems on

Source by Gaye White

How to Protect Yourself From Rogue Forex Brokers

A forex scam happens when a forex broker convinces traders that they can gain extraordinary profits in the foreign exchange market. There are many scams out there but the more common ones involve:

  • The broker running a fake online brokerage, accepting deposits and running off with your money
  • The broker charging excessive fees to trade
  • The broker charging excessive fees process wire transfers when you request a withdrawal of your money
  • The broker taking an excessive amount of time to issue you a payment when you request a withdrawal of funds
  • The broker encouraging excessive trading
  • The broker manipulating stop loss orders or ignoring buy or sell orders to maximize the broker’s profits

Before picking a forex broker you should do your research. Having a look through various online brokers reviews and guides can be quite helpful. Looking at some the of the online forums for trader-reviews of brokers can be a worthwhile exercise too as often times these reviews are extremely unbiased and no-holds barred. You should look through several of these forums to get a comprehensive picture of the online broker being reviewed. Also, keep in mind that some reviews don’t reflect typical trader experience with the broker and a negative experience can be owing to a broker’s lack of trading experience or just aggressive or poor decision making. Try and find information on the reviewer’s trading experience.

How to tell if a trader is really scammed or just inexperienced?

When reading trader reviews and trader posts in online forums it’s a good idea to keep in mind that some negative reviews are owing more to the trader having little trading experience and less to an online forex broker providing a bad service or product. In addition to the tips listed above, there are a few ways you can tell if a trader has little experience. Take a close look at what the forum post has to say about a particular trader.

An inexperienced trader may leave a spot position open beyond a day and thus pay for “resettling” his account for the full bid/spread price. An inexperienced trader may also use 0.5 – 2% margin (rather than a safer 10%) in trying to gain an out-sized profit. Inexperienced traders may also be more likely to trade with a broker that charges extremely small spreads or very low commissions but runs a dealing desk and takes the trader for a considerable sum on every trade – experienced traders are less likely to trade with these kinds of brokers. Lastly, inexperienced traders are more likely to write about problems with their mini accounts and may complain of losing their first deposit of $50 to $200. More experienced traders are likely to open larger accounts and trade larger sums.

How to protect yourself as a forex trader

There are few important points to remember before jumping into trading. Make sure to read the fine print before investing – and understand the limits of what a broker is offering. What commissions or spreads is the broker going to charge on a trade? Are there any hidden costs or fees like settlement fees, wire fess, account maintenance fees, etc? Check your trades to see the lag time for order execution. Look into how long it takes to receive payment when you decide to liquidate your account. If your broker won’t let you take your investments out right away, consider it a warning and don’t invest with them.

Unfortunately, forex scams are a reality so do your research before opening an account with an online forex broker. Find the broker that’s right for you by reading online reviews and online user forums. Make sure to educate yourself on a brokers trading terms and conditions – read the fine print. If in doubt contact the broker’s customer support. If you are new to online forex trading, open a practice account before trading real money. If you do find a forex scam, post a detailed experience online for others to read so no one else get burned.

Source by Jeremy A White

Forex Signals – How to Instantly Trade Like You Have Decades of Forex Trading Experience

Seriously consider forex signals if you are not yet trading profitably, have limited experience, or just don’t have much time to devote to your forex trading.

From the simple one email a day variety to the forex mentor who sits with you all day holding your hand as you trade, a portfolio of forex trade alerts can be virtually free and can transform you into a profitable trader instantly.

If like us you’ve ever analysed a chart and placed your own trades, you will almost certainly have also sat in front of your screen wondering if you were doing the right thing.

Questions like “have I entered this trade too late ?” and “am I trading in the right direction (long when I should be short)” will certainly have entered your mind.

How many times have you wished you had an expert trader with decades of experience guiding your trades, keeping you out of dangerous trades, and pointing you towards trades with a higher probability of success ?

We were certainly in that position many times in the early days, but always imagined the cost of having an expert on hand would far outweigh any extra profits we might make. It turns out we were quite wrong.

There are numerous services available, known variously as forex signals, forex alerts, or forex tips.

Trading signals come in a variety of formats, suited to how much of your day you can devote to trading. And yes beware, there are loads of scams out there too, but we’ll show you how to avoid them, and we’ll direct you towards the better ones.

Forex Trading Signals – many varieties

The main characteristics of forex trading signals to be aware of are as follows;

  • Cost: Free OR monthly subscription
  • Complexity: Simple “one email a day” OR Full-Service
  • Control: You keep full control OR the signal provider trades your a/c for you
  • Trading style: e.g. frequent scalper OR low volume swing trader

A free forex signal may at first seem like a fabulous idea, but as we will reveal here, you may very well prefer to pay for a free subscription service (yes, we know that doesn’t make sense – but read on)

Most forex trade signals charge a very modest subscription fee, usually in the region of USD $80 – $400 per month (although happily most are at the lower end of this range), while there are also websites which provide forex signals for no charge.

In their simplest form a forex trading signal will send you a forex alert email once a day listing trade set ups for the next 24 hours.

Some of these are purely computer generated, some are computer generated and then audited by a human expert, and some are completely researched and generated exclusively by a human expert trader who may add some market commentary to their forex forecast.

Some forex trading signals are high volume scalpers, calling many trades in a day aiming to profit a handful of pips on each. Others only call a few trades a day, aiming to profit 20 – 80 pips on each single trade.

At the more full-service end of the market is the type of forex signal service which provides you with an almost 24 hour a day live online broadcast calling forex trading tips as they occur, explaining the logic of the proposed trade and backing it up with an email or even a video clip.

Some forex trading signals will even trade their signals in your own account for you, leaving you to just sit back and watch.

This is similar to what a robot does by using forex signal software, but with the added reassurance that it’s being done by an experienced intelligent human trader rather than a dumb machine following an algorithm.

Think of full-service forex trading signals like a forex TV station, which you have running in the background on your pc or internet connected laptop throughout your day. The broadcast remains quiet when there is nothing to do, freeing your time for the other priorities in your day, then calls for your attention when there is a trade to place or manage.

You may be surprised, as we were, to discover that the prices charged by full-service providers are usually very similar to those charged by the one email a day providers.

This type of service usually also includes an interactive facility, enabling you to send a message to your forex mentor if you have a question.

Many forex signal services have very loyal memberships, and some even limit the number of members they will accept.

Free forex signals (virtually)

On the basis that time is money, in our opinion the amount of time we can now devote to other activities by not slaving over our charts for hours searching for the perfect trade set up, not to mention the improvement in our trading results, has more than paid for the very modest cost of the forex signal subscriptions.

Indeed if you apply this logic, subscription based services can effectively be free when you take into account the improvement in your trading profits, and the freeing of your time for other profitable activities.

If you think about it, a subscription based forex signal service has a built-in incentive to call profitable forex trading tips, as its subscriber base would soon evaporate if it failed to provide profitable currency trading tips. “Free” non subscription signals do not have this incentive.

Manage your risk

In any aspect of forex trading your primary goal is to manage your risk. Choosing, and trading a forex trade alert should be no different.

Even the best most experienced provider of forex signals will regularly have losing trades. However taken with all of their winning currency trade signals the overall result should still be profitable, but not all systems work all of the time. Some forex alerts may even have a completely losing week or month.

However, we have found through our own experience that the best way of making consistent profits with forex signals is to subscribe to several different currency trading signals and trade all of their signals. If one of them is having a particularly bad week, the others should compensate and still net you a profitable week, or break even at worst.

Always do your due diligence before trading a provider’s forex alerts. Good forex signal services will publish their last 6 – 12 months results on their website. Some will even show you details of the actual trades they took. Expect to see losses as well as winners – that’s just the nature of trading. Indeed, if the results show only winners, or the provider is unwilling to show you any results, or to provide contact details of some of their clients willing to give a reference be on your guard.

Most will offer you some sort of free trial or discounted special offer. Make sure that you clearly understand the terms of this offer and know the deadline by which you need to give notice to terminate if you’re not happy with the service provided.

If you compare the last 6 month’s results of all the forex signal service providers you intend to use, you should find that taken as a whole they delivered a profit.

Past performance is no guarantee of future results, but we have found that if you have a good combination of trading styles in your trading signals portfolio you are in with a fighting chance of consistent profits whatever the market conditions.

Again, think about the cashflow logic of what you will be doing here – the subscription costs of each forex signals service are already very modest, and by combining them you are increasing your probability of consistent profits. They can’t all get it wrong all of the time, and remember they are all incentivised by their membership to get it right as often as possible.

Even with experienced traders calling your trades, it’s prudent risk management to never ever risk more than 3% of your initial capital on any one trade, preferably only 1%. So, if for example your initial capital, (or to put it another way, the maximum you can afford to lose) is let’s say 5,000, the position size you take on each trade should be such that if the trade hit your stop loss, your maximum loss would be no more than 1% x 5,000 = 50.

Using forex signals as trade ideas

Even if you prefer not to follow forex tips to the letter, you can still profit from their trade idea.

For example, if you receive a forex tip trading the GBP/USD long with a 40 pip stop loss, but on analysing the charts (following your attendance on a forex training course) you feel more comfortable placing the stop loss let’s say 63 pips below entry, giving the stop protection below a visible area of recent and prior support, which happens also to be below the weekly pivot point, and in doing so are happy to have a longer range target – then go right ahead and do so.

We were surprised to find that when we did exactly this with one of our forex signals’ tips our trades actually performed better than theirs did. Two heads better than one maybe.

The point is though, that without the forex market forecast drawing our attention to that particular chart at that particular time we would never have seen that trade idea.

This also makes the point that while it may at first seem temping to let a signal provider trade your account for you, if you have the time you may actually prefer to control it yourself.

If you have been through a good forex training course and understand the concepts of support, resistance, pivot points, trends etc you should always use this knowledge to perform your own due diligence on forex alerts. You may well find as we did that you can enhance the overall performance of your portfolio of forex trade recommendations.

Free forex signals

This section would not be complete without mention of forex signals providers who don’t charge any subscription fee.

As we mentioned above even subscription charging services should be effectively free to you by virtue of calling enough profitable trades to more than cover the subscription cost.

In addition we prefer to use subscription based forex signals as they have an incentive to consistently call profitable trades, in that their subscribers won’t stay with them for very long if they don’t.

Free signals by comparison have no such incentive, so be warned and trade them at your own risk.

Source by Thomas Webster

Trust Expert Advisor Reviews?

We hear a lot about the advantages of reading expert advisor reviews before you invest in one, but can you actually trust them? There are so many different types of robots and different types of Forex traders, that even if an EA or expert advisor has the best reviews in the world, it still might not work for every individual.

That might be a surprising statement. You can probably imagine that a trading system, which depends on the trader to put it into practice successfully each time, could have very varied results for different people. The assumption is often that robots either work or they do not, and that they will work in the same way for everybody, so that all users make the same profit at all times. But in fact this is not true.

In broad terms of course most traders’ results will follow peaks and downturns at approximately the same time if they are using the same software, but surprisingly, the actual results can be quite different. In fact in some of the expert advisor forums you can find two people using the same EA and one is making a profit while the other is making a loss. So why is this?

There are several factors that contribute to the discrepancy. First, there is the question of currency pairs. Most expert advisors have the potential to work with several currency pairs and they will not always perform equally well with all of them. You can often get better results by concentrating only on the pair or pairs that are the most successful. Expert advisor reviews can be great for working out which are the best pairs to trade.

Second there is the question of settings. This is the most common question in forums, on blogs and to EA support staff: what are the best settings for this robot? It is a little like the quest for the best system: it is almost impossible to evaluate. The permutations are almost infinite and what would have worked best last month will not necessarily work best next month.

Generally, the safest option is to follow advice on settings from the company’s own information, but in some cases you may pick up useful tips from expert advisor reviews and user websites. Remember though not to trust everything that you read, and always test new settings before going live.

Fourthly, risk management makes a huge difference to whether you can sustain profits in the long term. If your risks are too high, then even an EA that is profitable can wipe you out. This often happens to beginners. Remember that even the best EA (like the best human traders) will have losses and losing runs. It is vital to set your risk low enough that you can survive the bad times.

Finally, it makes a difference which broker you use. Some will have higher costs, some may operate in a way that tends to trigger stop losses more often, and so on. The EA will usually come with information about which brokers you can use, but that is often based solely on technical compatibility of the software. Forex robot reviews and users will sometimes recommend particular brokers for their quality of service, and that can be helpful.

So EA reviews certainly have their uses, even though no reviewer can guarantee that another individual will have the same experience with the robot. So do seek out feedback from those who have had a chance to use and analyze the software, but be aware that you will not necessarily achieve the same results. It is important to read expert advisor reviews carefully to assess whether a particular EA is likely to suit your individual case.

Source by James Roshwood

How to Learn To Trade Forex in the Shortest Possible Time

If you are aiming to get into currency trading, you should first learn to trade forex. Of course, when you are doing capital investments, you should initially at least know how to open and close transactions. In foreign exchange trading, dealing makes no difference and so you have to make sure you are knowledgeable and well rounded about transactions.

How could you learn to trade forex? Basically, there are many means on how you could learn currency trading. Before taking any measure, it would be important to note that indeed, you should open your mind to learn about dealing such transactions. You could take crash courses at several centers, you could take tutorials and hands on learning sessions with your willing brokers or you could simply learn by yourself.

It is not impossible to learn to trade forex by yourself. Prior to making any moves, it would be imperative that you first understand that foreign exchange is quite an easy concept if you would only get to comprehend how the system and the processes work. To learn by yourself, you could opt to educate yourself through books, online tutorials and even self-help videos. Scout the market for self-help learning materials in print and in videos. There are also online learning sites that provide effective guides and learning sessions.

If you could enroll in specific courses for forex trading, it would be more advisable. You do not need to be confined to learning in long durations. These days, there are actual crash courses that would only require you to spend a few hours each day for a limited period of time to get to know and understand the transactions better. Nowadays, some of such courses are also offered through distance learning, meaning, facilitators would send you modules for self learning and then guide you in making use of such materials.

Lastly, as mentioned, using the resourcefulness and knowledge of your forex broker is one way how you could learn to trade forex. You could always ask your broker to explain to you the dynamic of the trade. By paying attention, you would realize that through simplified explanations by your broker, you could actually learn how trading is done and closed. Thus, informally, you are learning. It is also more like a more hands-on and actual training.

If you are aiming to grow your capital, you should strive to understand well how currency is traded. Learn to trade forex and see how you could make your investment further attain its potential.

Source by Davion Wong