Feb 28
DPForex Artificial Intelligence, automated software, currency trading, EA, expert advisor, forex bot, forex trading, review, trading software
There are masses of forex EAs but this one Forex Torpedo has attracted my attention. As it claims to beat other robots by instead of using just past data, predicting market price. It says it uses artificial intelligence and other knobs and bells to do that. It is fascinating, but I’ve got some concerns. Are not other EAs truly doing the same? There are plenty of robots which profess to use A.I out there and to be frank, there’s no way we will see how they employ it and if they use it at all . Anyone can say they use AI technology because it’s impossible to approve it. But in the end what matters are the results. Does the robot bring good profit? That’s what matters, not that it forecasts market or uses past info. Having said that, I’ll leave it there. We should judge a foreign exchange EA by its results, not by the features.
Feb 26
DPForex bill poulos, CD, currency trading, forex trading, manual trading, review, trading course, trading method, trading strategy, video course
There are several foreign exchange trading systems. There are way more techniques that there are traders. And there’s a tendency to add as many indicators into the mix as practicable. That is’s especially subjective to the noobs. For some reason they think that the more indicators you use, the more worthwhile your plan will be. Unfortunatelly that is’s further from truth and there are so very much more to a good strategy than just the indicators. Forex Profit Accelerator suggest 4 important rules for a successful method and that’s what I need to bring up. The prerequisites are from the most obvious exit and entry rules, to often forgotten but important money and risk handling, and the time and effort it takes to employ a plan. First of all, many traders don’t care about their time because they are ready to sacrifice it to make profits. But you have got to think, is your time worth a fixed amount. It’s ok if you don’t have a life, but the majority do want to have one.
Next come the indicators and entry/exit rules. These are widely abused as I mentioned. But the program suggest that this part should be as simple as attainable. And that makes sense, because that is’s the sole way your technique may be employed. Eventually, there’s the chance and money managment. This is what makes a technique moneymaking or not. Not your indicators, but how you manage the risk.
Those are the rules for a successful trading system. Keep them under consideration when you use yours.
Feb 24
DPForex currency trading, eurusd, forex autopilot, forex trading, review
The first commercial foreign exchange EA released to the market was Forex Autopilot. And amazingly it still is on the market. But does it still work? Do people still earn money with it? It’s a question that isn’t easy to say something about. One thing is for sure, people are still buying it. To point out if a EA works without testing it is a hard task. And even if you test it, it does not mean it will work the same for everybody. Robots are usually very susceptible to market changes and break easily. What does this robot have to stand the test of time? Well, firstly, it’s being updated. The developers are still updating it, otherwise they wouldn’t be selling it. So it’s important to note that it’s not the same robot as it was 3 years ago when it was initially sold.
The conclusion is that it can make lucrative trades, but traders keep seeking for a better robot. It’s not enough to make tiny profit, they need significant and consistent profits. That is what motivates robot users and because of that they’ll keep purchasing each new EA that comes out.
Feb 23
DPForex automated software, currency trading, EA, expert advisor, forex bot, forex trading, review, risk management, trading software
As a foreign exchange trader you clearly need to trade with a great possiblility that you will profit and you would like to minimize the risk. And there are several paths to do that – from proper use of stop loss to correct scaling. However, one of the most underestimated secrets is the diversification. Very few traders essentially diversify their portfolio through different currency pairs, and many of them just concentrate on one currency pair. While focus is a good thing, diversification can help you protect your investment.
That’s the news that Caliber FX Pro carries. This software wants you as a trader to widen your portfolio and reduce the risk that way. It really is a good methodology to follow. You can select from 3 currency pairs to incorporate in your forex portfolio. When trying to minimize your risk, use all tools you have available. And that includes the diversification. It will enable you to spread your money across different currency pairs and shield your money that way.
Feb 23
DPForex automated software, currency trading, day trading, forex bot, forex trading, long term trading, review, scalper, trading software
There are two critical terms in currency trading – short term and long term trading. What are they and how they are different? Obviously, short term trading is riskier because with this strategy a trader makes more trades. The key is faster profits. On the other hand, long-term trading is more thought out, there are just a few trades each month and it is a lot accurate. However, there’s a ton less profit potential because there are much less trades. Forex trading systems like Forex Ripper try to capitalize on the both. Nobody claims you have to only use one plan. You can trade both, short and long-term. What that does is allow you to get fast profits in short term, but also be rewarding in the long term. It is important, however, to balance those secrets out. Because the short term method is much riskier, you have got to take that into account. You should mange the danger so that the near term losses don’t wipe out your long term profits. Consider the long run method as your main strategy and work out how much you are able to afford to lose in short term.
Feb 19
DPForex currency trading, Forex, forex system, mindset, strategy, tutorial
There’s only one most important thing in successful Forex trading and that’s consistency. Only if you’re consistent in your trading can you make money in the long run. You must consistently follow a strategy even if it makes a few losing trades if you want to make money.
First of all you have to choose or develop a strategy that is viable enough to be profitable in the long run. Then you have to follow it strictly and by the rules it defines. Don’t dump a strategy just because it makes a loss – the results over a long period of time is what matters. You have to develop a mindset that enables you to trust your strategy and follow it to the point no matter what without panic or sporadic trades.
Also worth to mention is that you must not drink alcohol while trading. It’s like operating heavy machinery! It may sound funny to you but often it can sound like a good idea to chill out, have a beer and do some trading. As good as it sounds, it’s not a good idea. You need a clear mind and concentration to trade successfully.
Finally, you can think about some automation. While not all strategies can be automated, the least you can do is set up alerts so you didn’t have to sit in front of the computer monitoring charts all day. Automation of your strategy can provide you some room for improvement or just give you extra spare time.
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