I Used Forex Killer Forex Trading System Yesterday

I Used Forex Killer Forex Trading System Yesterday

My miniature schnauzer is barking up a storm at a lizard just outside the patio door. I just know she would do anything to figure out how to open the door and rocket out to chase the poor creature back up a tree. To make it easier, I've placed a desk bell on the floor near the door so Ginger can ring it when she wants out to chase the critters. Sort of pet automation.

Trading Forex would be totally cool if you never had to sleep. The reason is the markets are always open around the world. Your positions are always doing something. It would be great to teach Ginger to watch the monitor and bark at a nice change. I would then run over to the computer and place my order.

But until that day, there are some great breakthroughs in robot, or adaptive software that can actually feel out good picks and keep an eye on the markets for you. Naturally there is work to set up these programs, but once you have your parameters in place, you'd be surprised how well the system works - and how you can actually profit from it. If you're a diehard Forex trader, reluctant to check out these things, my advice is to open a demo account at another brokerage and play around with the system so you can see all the bells and whistles.

As you may know, you can lose your shirt and other clothing if you doze off while trading Forex. This is an art as everyone knows. And even the best Forex review sites challenge us to use extreme caution when entering any market, especially with a software program. Once such program I tried was the Forex Killer. Scary name, for sure - but I was interested to see what it could do. There has been some controversy with their website because the owner, Andreas Kerchberger, has an actor play himself. In reality, Mr. Kerchberger is a German who formerly worked with Deutsch Bank and traded at home.

Through some programming, Forex Killer will analyze the percentage in pip change and then gives you what it believes is an ideal buy or sell time. When I tested it, given my knowledge of Forex, it always seemed to trade earlier than I would, and no stops - which is what I do - but getting out was left longer than I was comfortable with. Granted, this thing has none of the emotions and passions I walk into the room with. And that's probably why, slowly but surely, it picks and creates little pockets of profit along the way. So there you go.

Will I always use Forex Killer? I will probably keep it running on one of my accounts and see what happens. You have to watch it and use some common sense. But I think it would make a nice addition to your trading tools and certainly affordable. With the way tech is going, it's too risky to just brush off such programs as mere scams. You have to try them out for yourself. And now I hear Ginger ringing the bell again. I think I'm going to do a web search for a scarecrow for lizards.

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Confident Trading Tactics

Confident Trading Tactics

I wanted to take the time to share with you some confident trading tactics for forex. This is a great business with over three trillion dollars a day in trades. That makes it the biggest in the world and potentially the most profitable. The most amazing part about this business is that it acts completely independent of world recessions and economic downturns. Profits sum down to a ratio in difference between currency and that is how we make money.

I think the most important thing you need to understand when you're looking for a trade is that the buy price is completely useless. As consumers in a grocery store, we look for the cheapest price and when we find it, we're happy. This is different. We're not consuming money, we're trading it. This means that the cheapest price isn't necessarily the best trade. You don't make one cent of profit until you exit the trade. That means the sell price is the most important thing. So when you're looking for a good trade to make, always look for the exit prices, than compare it to the original cost and you can now determine if you have a good buy.

When you get confident, sometimes you get overconfident. The way you can tell this is if you feel too invincible. You feel like every trade will just workout in your favor. This is a poor state of mind because you're going to let down over and over again. Confidence is one that exists in reality and it knows the limitations. Remember, that is what you're striving for.

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Managing Your Forex Trading

Managing Your Forex Trading

It is an extremely important discipline - that of happily accepting losses. To many new (and some not so new) traders, the thought of a losing trade is simply not acceptable.

The reality of trading is of course a mixture of both wins and losses with success being dictated by the ratio of those wins and losses, and it is a complicated ratio. I often see it defined as "you must aim for a win to loss ratio of at least 2:1". Well that's nice work if you can get it. The markets rarely allow us the luxury of employing anything as straight forward as that.

The real ratio in most cases is to be able - in general - to make more wins than losses and for those wins to be greater in value then the losses.

Yes it would be nice to only enter those trades that will definitely give us at least a 2:1 winning ratio but I have yet to hear of any trader that can consistently do this. The market just does not operate in that certain way. Because of this, a vital part of any trading method must include money management.

By employing a well developed strategy of money management, it helps to even out the wins and losses thereby allowing you to easily accept the losses that will most certainly be coming your way.

If each time that you trade, your very survival depends upon a win, then you will not like the prospect of a losing trade, but rest assured that sooner or later - and likely sooner - you will get one whether you like it or not.

Many new traders look for, or try to develop, strategies that rarely if ever lose. This is a fruitless exercise. One of the things that has to be accepted by traders is that no matter how successful the method that you follow, there will still be losing trades.

As an example, you may have a system that has a win to loss ratio of 4:1 (which would be extremely unusual). In our example, from 100 trades there will be 80 winning trades and 20 losing trades.

You wins and losses are a percentage and this percentace is somewhat random in order. If you were unfortunate, you could find that the next 20 trades that you execute all lose. When trading too large a portion of your account it is only too easy to lose all of your money on a "losing streak" so that you never get to the "winning Streak".

It is unusual to have long runs of losses with a good trading system, but it can happen and yet still maintain the same win to loss ratio. If you learn to employ a strict system of money management, together with a trading method that in general gives you more wins than losses and bigger profits than losses on those wins then you will be able to smile at your losses, because you will know that over time, you will still be profitable.

Being able to smile at your losses in the same way that you are able to smile at your profitable trades is an essential emotional quality, and it is one that can only be developed by employing strict money management.

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Forex Robot Trading Platform Programs - Which One to Choose?

Forex Robot Trading Platform Programs - Which One to Choose?

If you are looking to buy a forex robot trading platform it can be very difficult to establish which ones which ones are best. There are so many on the market that it is very difficult to tell at first the differences between them, let alone which ones work and which ones do not. In this article I will share with you my experiences and also tell you which forex robot I use as well as how much money it makes me.

About 12 months ago I was looking to diversify my investment portfolio as I saw that the US credit markets were about to go into crisis and cause negative effects on the equity markets. I chose to invest in the forex markets for the following reasons:

• Forex markets are not correlated to equity stock markets meaning if equities go down, the forex markets do not follow suit.
• It is incredibly cheap to trade forex because there is no commission on trades that you execute.
• Forex markets do not have downward trends. This is due to the two way nature of currency trades. When you buy one currency you sell another meaning that as one currency appreciates in value, by default another will fall in value. This means that no matter what the economic climate there are always opportunities to make money in the forex markets.

After taking the plunge to start trading forex I followed the advice of a friend and bought the same forex robot trading platform that he uses. The main thing that attracted me to this particular product was the full no questions asked money back guarantee that it came with.

Being ever cautious I started executing very small trades to see how I would get on. It wasn't long before I was making money and increasing the size of my trades. What I like best is that if I want I can set the trading program to actually execute trades when I am not there. A few times I have actually made money while I've been asleep.

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Benefits of Trading Forex

Benefits of Trading Forex

Trading the Forex market has several advantages over other financial markets. Amongst the most important are: liquidity, it's a 24hr market, leverage trading (margin), low transaction costs, low minimum investment, specialized trading, you can trade from anywhere and others.

Liquidity - Forex market is by far the most liquid financial market in the world with nearly 2 trillion dollars traded every day according to the Bank of International Settlements.

Why is the liquidity so important to us? Because it helps us in several ways:

- The most important of all is that superior liquidity ensures price stability. With such a big market, there will be always someone willing to buy or sell any currency at the quoted price, making it easy to open and close trades or transactions at any time of the day. However, there are periods of high volatility during which it might be not easy to get a good fill.

- Because of the great amount of liquidity, most of the time we are able to get in and out the market fast with consistent executions. But as any other market, during periods of instability slippage is always a possibility.

- Higher liquidity also makes it hard to manipulate the market in an extended manner. If some of its participants try to manipulate it, the participants would require enormous amounts of money (tens of billions) making it practically impossible.

We see that the UK and US account for around 50% of the total turnover, and as a rule of thumb, the more liquidity the more the market moves. We will talk about this later on.

24hr Market - The Forex market is an around the clock market. This means that you could open or close any position at any time from Sunday 5:00 pm EST (Eastern Standard Time) when New Zealand begins operations to Friday 5:00 pm EST, when San Francisco terminates operations. The main reason for this is that there is no physical location where all transactions take place (OTC).

Brain Feeder - As you can see in the image above, there are 4 hours in which the London and the New York sessions overlap, what could this mean in terms of volume and liquidity?

Leveraged Trading - Forex trading gives much more buying/selling power than many other financial markets. This allows us to control greater transactions with a small margin deposit. Some brokers offer up to 400:1 leverage, meaning that you can control for instance a 100,000 US dollar transaction with just .25% or US$250. This also allows us to keep our risk capital at the minimum.

However, beware as this is a double-edged sword. If the leverage is not properly used, this could also be a disadvantage. The more leverage you use, the more of your account is at risk.

Imagine this scenario: Two traders with the same capital using different leverage:

Trader A: using 400:1 with a US$2,000 trading account

Trader B: using 100:1 with a US$2,000 trading account

If both of them open a standard trade (100,000 units) trader A will have at risk US$1,750 (2,000 - 250 = 1750) while trader B will only have at risk US$1,000 (2000 - 1000 = 1000)*.

*Of course there are risk management techniques that allow traders to reduce that amount of risk such as stop loss orders. We will go deeper in to this in the following lesson...

For this reason, using leverage greater than 100:1 is not advised.

Remember: the margin is used as a deposit; everything else is also at risk.

Low Transaction costs - The Forex market is considered one of the markets with the lowest costs of trading. Most brokers collect their fees based on two schemes:

Spread - Brokers collect their fees by charging a different price for long and short positions. The difference is what is collected by the broker.

Spread and Commissions - Most brokers under this scheme charge a commission but usually the spread is tighter and transaction costs can even fall below brokers under the spread "only" scheme.

Low minimum investment - The Forex market requires less capital to start trading than any other markets. Some brokers allow traders to open trading accounts with an investment that could go as low as US$1 (yes, you read that right, that is one US dollar.) On average however, brokers allow traders to open accounts with around US$250.

Of course, you can't expect to make a fortune with that investment but it will get your feet wet before you start risking a larger amount of capital or you can try to slowly start growing your account from there.

Specialized trading - The liquidity of the market allows us to focus on just a few instruments (or currency pairs) as our main investments (85% of all trading transactions are made on the previously mentioned seven major currencies). This allows us to keep track of, monitor and get to know each instrument better.

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