Make Money Trading Forex
There are proven ways to make money trading Forex and this website is dedicated to showing you what you really need to know to profitably trade the currency market.
Many traders contact me looking for guidance. There are a couple of key points that will help 99% of them... be sure a loss is a loss before you take it, let your profits run and stay away from the short time period charts. Sounds simple, but in practice it's tough.
My current focus is on automated trading systems and trading robots. It is almost impossible to manually trade this market efficiently since it operates around the clock for 5 1/2 days every week. Yes, you can trade the daily charts, but that means you will miss out on many of the shorter term moves which are common to currency trading.
The beauty of an automated system is that it will watch for the right setups and execute your plan, night or day. It has been proven that over the longer term, automated systems perform better than manual ones to make money trading Forex.
If you have tried trading robots, or EA's, you have probably been disappointed. There are a lot of lousy ones out there. However, there are also a few solid ones. One such robot which has been live tested for well over a full year now, through all of the current market mayhem, continues to do great... Forex Crescendo. Click the link and scroll down the page to the "view real money live account" window and see it's results for yourself.
Many new traders are overwhelmed by all the information available and don't know how to get started. These automated systems can successfully trade your account, even if you have a very limited knowledge of the Forex market.
I buy almost every trading robot that comes along and put them through a lot of testing. Most of them don't do very well and I usually end up sending them back for a refund. However, sometimes they do what they are supposed to and I put them on an account trading with LOW leverage.
Robots are a great way to make money trading Forex for those that struggle with technical analysis, or traders that can't sit in front of their computers all day and night. You still need to be aware of the market particulars, but automated systems make it much easier for new traders to get started profitably.
Trading Forex is exciting and it can also be very rewarding. You are able to trade any time of the day Monday through Friday and it can be done effectively without being glued to your computer screen.
Over $3 Trillion Daily!
The reality is you need to do a little homework to be successful at this. You can learn how to claim some cash from the $3.2 trillion (according to the latest BIS report) that trade through the Forex market every trading day, but to make money trading Forex, you need to treat it like a business and invest some of your time to achieve profitable results.
In the end, the results you get will be the product of the time and effort you put in. Do this the right way and it can change your life. If you are looking to get rich quick, Forex can do it, but it can break you just as quickly, so beware.
Typically, 95% of traders who open accounts to trade the currency market will lose all of their "investment". However, with a proper strategy, you can become a member of the successful 5%. Once you learn to make money trading Forex, the world will be a much different place for you.
Got a question you can't find the answer to? Send me a quick email from the "About the Author" page and I'll try to point you in the right direction.
- Start Trading Forex
- To start trading Forex you can choose the hard way, or the easy way. If you are like most, here's the the easy way...
- The Best Expert Advisors
- The best expert advisors are the ones which consistantly produce returns, while allowing little in the way of drawdowns. Here are some of the most profitable ones...
- Automated Trading is the Future
- Trading robots permit automated trading using the MetaTrader platform.
- The Metatrader Platform
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- Forex Trading Strategy
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- Top 10 Forex Trading Essentials
- Here are 10 Forex Trading Essentials that can improve your trading immediately!
- Your Forex System
- Your Forex system is your trading plan. Plan your trade, then trade your plan.
- Forex Signal Service
- My Forex signal service is designed for traders that struggle with technical analysis and are looking for clear trade recommendations.
- Current Forex Data
- Using current Forex data is critical to your success. Here is how to get the good stuff...
- Trading with Japanese Candlestick Signals
- Japanese candlestick signals are a real time picture of the trading price action. Here are the signals to watch for...
- Trading With Fibonacci Numbers
- Fibonacci numbers and sequences are widely used in Forex trading. This article shows you the common applications in Forex.
- Forex Volatility Explained
- Forex volatility has ruined more trading accounts than you could imagine. Here are some suggestions to help keep you out of trouble...
- A Different Forex Position Strategy
- This Forex position strategy is a different way to enter or exit a trade. This article shows you a method you can use to average into a position...
- Choosing the Best Forex Setups
- Using good Forex setups will greatly increase your success rate. Here are some of the proven winners...
- A Simple Forex Strategy
- Use this simple Forex strategy to get you started...
- Choosing a Forex Online Trading System
- Choosing a Forex online trading system or Forex trading platform is like finding the perfect new car. These tips will help you choose the right one...
- Using Currency Correlations
- Use Currency Correlations to your advanatage. Knowing how currencies move in relation to each other is important information.
- Forex Trading Advice - The "Must Do's" of a Winning Forex System
- The best Forex trading advice? Ensure you understand how the following all contribute to a successful Forex trading system...
- Be Wary of the Forex Scam
- You need to take care not to fall for a Forex scam. Where people and money meet, sometimes things are not always as they seem.
- Forex Glossary of Terms
- This Forex glossary contains many of the special Forex terms you should understand if you trade the currency market...
- A Great Forex eBook Collection
- A good Forex eBook will change your trading. Check them out for the truth about Forex trading.
- Living with Forex Risk
- Understanding Forex Risk is of extreme importance to a trader. Here are the facts you need to know...
- Forex Trading Education Basics
- A Forex trading education is very important. To trade Forex profitably, these basics are necessary...
- About The Author
- A little background information...
- Forex Downloads
- Here are some Forex downloads to help you with your trading...
- Make Money Trading Forex Sitemap
- Use this sitemap to help find your way around...
- Make Money Trading Forex Blog
- The Make Money Trading Forex blog keeps you up to date with the many website additions. Subscribe here.
- A free trade manager EA
- Use this free trade manager EA to help protect your Forex trading account...