Learning what works in trading the forex market is not easy, and it’s definitely not cheap. I’ve traded currencies on the foreign exchange since it was opened up to the public back in the late 1990s. I ‘blew’ up (emptied) my account the requisite five times before I had learned enough, and studied enough to turn my passion into a profitable vocation on a consistent basis.
I knew that only 4% of forex traders are making a lot of money at it and 90% quit after blowing up their accounts the first time. All I had to know was that the 4% existed, and I resolved to be in that group. There was never a question in my mind of where I would end up.
The absolute hardest thing to do in trading is to separate your emotions from your money. It sounds easy, but it takes a tremendous amount of willpower to maintain the disciplined restraint on your trade when it’s running away, in either direction.
I worked hard, paid my dues, read all the books, went to the conferences, participated in on-line group discussions and sure enough, I did arrive…just in time to see absolute newcomers to the market pull out returns that consistently doubled or tripled mine!
The Electronic Assistant (EA) had made its way to the marketplace of trading tools…and I suddenly felt like a bicyclist at the Indy 500. And when they hit, they hit the market hard, snarfing up profits like a metaphorical vacuum cleaner.
Naturally, I resented the fact that brand new people could come into a market and never know what it means to lose on a trade, let alone ‘blow up’ their account, nor suffer the “What if”s, about having gotten into or out of a trade “just a few seconds sooner, or later”. These were “required” experiences to conquer the emotional attachments we have with our money and to become a trading success story--or at least they used to be.
EAs were game-changers. All you had to do was set up the free 30-day trial using a dummy/demo account (no real money) and see how it (the robot trader) performs. If you like the returns you simply link it to your live (real money) account.
When they first came out they were a lot less automatic and took only slightly less attention, study and time than ‘organic’ trading (the good old fashioned, no-robots way). After the 2nd robot came on the scene, $10,000.00 USD became the common price to get one--that’s if you had the connections to find one of the very few available.
I realized immediately that ten thousand dollars for a tool to make some millions was a steal. Fortunately, there were only a few options so I decided to try them all. That was the beginning of my auto trading, and now I only play with a rare manual trade. I remembered that the reason I got into trading in the first place was to make money and flat out, the robots were better than me at growing my account.
These days, there are 1,100 to 1,200 different robots for sale all over the Internet, and they range in price from about $49.00 USD (statistically, any offer for less could end up costing you a significant portion of your trading account) going up to around $10,000.00 USD at the high end. There are few selling for more, around $4,500.00 (usually on infomercials & seminars), and there are some that sell a LOT more, and I mean a LOT (multiple millions) more--but not enough of them to include in this general report without skewing the averages.
As a general rule all of the robots perform the same essential function; they use historic market behavior patterns to predict where the market price will be at a specific point in the future. Each of them have their own ‘special blend’ of factors they use in their robot’s algorithmic calculations, and each of them are subject to the conditions of your trading account and the policies of your trading house.
What you’ll pay for are the factors; the features; the ease of integrating your new EA with your trading account, the ease of use/simplicity, the execution speed in trading, reliability and of course, accuracy in it’s trading. The only way to know if your new robot, your trading house and account and your desktop are all in sync, is to deposit a specific amount of money, turn it on and see if there’s more or less than you put in at the end of the month. If so, note how much.
What I’ve found is that different robots seem to work better in different market conditions, different trends, even different seasons; so the list of “best” ones will change over time. I started out with three robots and at the end of three months two of them so grossly out produced the third that I ditched the bottom producer and shifted my resources to another that had come onto the market. Another three months and the new ‘bot’ was blowing past one of the other two. From there on in, I realized that the best way to make your account grow is to keep your eye on the bottom line results--and that meant I had to be able to capitalize to the maximum degree possible.
My trading now keeps 5 robots active and drops the low producer(s) at various intervals. I replace dropped robots with new ones. My percentages have always gone up and now border on the ridiculous…but I still keep a couple of the EAs I dropped active--to see if there’s a long-term advantage to them.
I’d recommend starting with just one EA. Pay attention to installation procedures, read it all over and highlight the points you think are important to you. Then open a ‘Demo’ account (not real money) with any of the trading banks you can find on the Internet. Play with it, push some buttons and see what it can and will do. **While in this “play” mode, stretch your thoughts and try your hunches. Check to see it’s factory default settings (if it is ‘adjustable’).
After you’ve become familiar with your new toy, then add a second. You’ll find the good EAs make your ease of installation and use, their number one priority. So, you’ll recognize a lot of the same steps to bring them on line and churning out profits for you.
I haven’t tested “all” the robots out there, (I’m working on it), but I’ve whittled the number of worthwhile choices for a first time robot experience to a workable number. I weeded out the overly complex ones where you have to set all kinds of variables that only another computer would know, the stupid ones, ones requiring ‘hands on’ operation and constant tweaking, overpriced ones, ones requiring you to be on an ‘update’ call every week to keep up, along with a lot of other things that I’ve learned would frustrate the average person wanting to get into the exciting and amazing world of trading currencies on the foreign exchange market!
I limited my list to a “Top 20” just to accommodate the different approaches I’ve found. My goal is to point you to a good, solid robot (EA) without your having to try every single one of them to find the one that works best for you.
My “Top 20” producers vary in price (From about $50.00 (USD) to $10,000.00) but in my estimation, each is worth what they ask, kinda. My top 5, consistent producers are all under $250.00, but the top priced ones aren’t too far behind. It just depends on your attitude and your starting bankroll.
As with anything else, your success can only follow your start. So let’s get started on one of the most incredible financial paths imaginable!
Oh, Here’s where you can find my secret: Click Here! [http://how-to-trade-forex-online.com/]
Wishing you success in all of your trades!
Walker Geist
I knew that only 4% of forex traders are making a lot of money at it and 90% quit after blowing up their accounts the first time. All I had to know was that the 4% existed, and I resolved to be in that group. There was never a question in my mind of where I would end up.
The absolute hardest thing to do in trading is to separate your emotions from your money. It sounds easy, but it takes a tremendous amount of willpower to maintain the disciplined restraint on your trade when it’s running away, in either direction.
I worked hard, paid my dues, read all the books, went to the conferences, participated in on-line group discussions and sure enough, I did arrive…just in time to see absolute newcomers to the market pull out returns that consistently doubled or tripled mine!
The Electronic Assistant (EA) had made its way to the marketplace of trading tools…and I suddenly felt like a bicyclist at the Indy 500. And when they hit, they hit the market hard, snarfing up profits like a metaphorical vacuum cleaner.
Naturally, I resented the fact that brand new people could come into a market and never know what it means to lose on a trade, let alone ‘blow up’ their account, nor suffer the “What if”s, about having gotten into or out of a trade “just a few seconds sooner, or later”. These were “required” experiences to conquer the emotional attachments we have with our money and to become a trading success story--or at least they used to be.
EAs were game-changers. All you had to do was set up the free 30-day trial using a dummy/demo account (no real money) and see how it (the robot trader) performs. If you like the returns you simply link it to your live (real money) account.
When they first came out they were a lot less automatic and took only slightly less attention, study and time than ‘organic’ trading (the good old fashioned, no-robots way). After the 2nd robot came on the scene, $10,000.00 USD became the common price to get one--that’s if you had the connections to find one of the very few available.
I realized immediately that ten thousand dollars for a tool to make some millions was a steal. Fortunately, there were only a few options so I decided to try them all. That was the beginning of my auto trading, and now I only play with a rare manual trade. I remembered that the reason I got into trading in the first place was to make money and flat out, the robots were better than me at growing my account.
These days, there are 1,100 to 1,200 different robots for sale all over the Internet, and they range in price from about $49.00 USD (statistically, any offer for less could end up costing you a significant portion of your trading account) going up to around $10,000.00 USD at the high end. There are few selling for more, around $4,500.00 (usually on infomercials & seminars), and there are some that sell a LOT more, and I mean a LOT (multiple millions) more--but not enough of them to include in this general report without skewing the averages.
As a general rule all of the robots perform the same essential function; they use historic market behavior patterns to predict where the market price will be at a specific point in the future. Each of them have their own ‘special blend’ of factors they use in their robot’s algorithmic calculations, and each of them are subject to the conditions of your trading account and the policies of your trading house.
What you’ll pay for are the factors; the features; the ease of integrating your new EA with your trading account, the ease of use/simplicity, the execution speed in trading, reliability and of course, accuracy in it’s trading. The only way to know if your new robot, your trading house and account and your desktop are all in sync, is to deposit a specific amount of money, turn it on and see if there’s more or less than you put in at the end of the month. If so, note how much.
What I’ve found is that different robots seem to work better in different market conditions, different trends, even different seasons; so the list of “best” ones will change over time. I started out with three robots and at the end of three months two of them so grossly out produced the third that I ditched the bottom producer and shifted my resources to another that had come onto the market. Another three months and the new ‘bot’ was blowing past one of the other two. From there on in, I realized that the best way to make your account grow is to keep your eye on the bottom line results--and that meant I had to be able to capitalize to the maximum degree possible.
My trading now keeps 5 robots active and drops the low producer(s) at various intervals. I replace dropped robots with new ones. My percentages have always gone up and now border on the ridiculous…but I still keep a couple of the EAs I dropped active--to see if there’s a long-term advantage to them.
I’d recommend starting with just one EA. Pay attention to installation procedures, read it all over and highlight the points you think are important to you. Then open a ‘Demo’ account (not real money) with any of the trading banks you can find on the Internet. Play with it, push some buttons and see what it can and will do. **While in this “play” mode, stretch your thoughts and try your hunches. Check to see it’s factory default settings (if it is ‘adjustable’).
After you’ve become familiar with your new toy, then add a second. You’ll find the good EAs make your ease of installation and use, their number one priority. So, you’ll recognize a lot of the same steps to bring them on line and churning out profits for you.
I haven’t tested “all” the robots out there, (I’m working on it), but I’ve whittled the number of worthwhile choices for a first time robot experience to a workable number. I weeded out the overly complex ones where you have to set all kinds of variables that only another computer would know, the stupid ones, ones requiring ‘hands on’ operation and constant tweaking, overpriced ones, ones requiring you to be on an ‘update’ call every week to keep up, along with a lot of other things that I’ve learned would frustrate the average person wanting to get into the exciting and amazing world of trading currencies on the foreign exchange market!
I limited my list to a “Top 20” just to accommodate the different approaches I’ve found. My goal is to point you to a good, solid robot (EA) without your having to try every single one of them to find the one that works best for you.
My “Top 20” producers vary in price (From about $50.00 (USD) to $10,000.00) but in my estimation, each is worth what they ask, kinda. My top 5, consistent producers are all under $250.00, but the top priced ones aren’t too far behind. It just depends on your attitude and your starting bankroll.
As with anything else, your success can only follow your start. So let’s get started on one of the most incredible financial paths imaginable!
Oh, Here’s where you can find my secret: Click Here! [http://how-to-trade-forex-online.com/]
Wishing you success in all of your trades!
Walker Geist
SHARE
