Home Business Trading Forex: Forex Trading Robots Reviewed

By Phil Jarvie

Most of us would work from home if we could. With the Global recession, millions of people now have no choice but to work from home. Forex trading could be just the opportunity you have been looking for. Can't wrap your head around it? Let me explain it then. All of the World's larger currencies must be exchanged so that International trade can happen. The market price a currency is worth is decided by the supply and demand pressures the forex market exerts. This market pressure all comes down to how many buyers and sellers are in the market for a currency at any time. These buyers and sellers are matched with each other by banks and brokers. Software is what allows all traders to meet through their broker or bank. Some forex software is automatic, some is manual.

Does it take much money to get started? No, $500 plus software costs is enough. Of course the more money you have the better and $10,000 would be a great start. But $500 is fine too - depending on the software robot. When you say add 5% compound profits to your $500 start you will have $1,000 in just 15 trading days. Do that again and you have $2,000 within 30 trading days. And so on and so forth. The trick or key to success is to select the right software, and to help you with that choice it is important to find the right product-review website to research which is best for you.

Fap Turbo: FAP or Fap is short for Forex Auto-Pilot is the largest selling software robot on the market with 37,000 users out there. When you get Fap Turbo and install it - it has default settings adjusted for you to get you started. You are encouraged to watch all the training videos and other materials before you begin trading, and always start trading with a free demo account from your broker. While this is the biggest expert advisor around, it should be purchased with Fap Winner because this add on is where you get instruction on the best settings to use to make the most profit. Fap Turbo without Fap Winner is too hard for new traders to learn. With Fap Winner guiding you, Fap Turbo then becomes a profit power house.

Forex Maestro: The Forex Maestro is actually the work of one of these "secret think tanks" - and many have said the author of the program never gave his consent for it to be sold. It was made available and circulated within the private members of the club, but no one had permission to sell it, or rename it or to do anything with it other than private use and testing. Be that as it may, it has been successfully sold in the market place for quite some time now, and it is worth considering as part of your toolkit.

Forex Funnel: Forex Funnel say it's designed to trade the USDJPY pair on a 1 hour chart, but actually you can trade profitably on other pairs. It is best to go with what they recommend, so stick with USDJPY as there maybe some aspect of that pair they are exploiting. It is a very aggressive expert advisor, and it is only suited to larger trading accounts - not less than $5,000 because it can draw down quite a large portion of your account before swinging into large profits. Perhaps not for the new forex trader, but certainly worth a look at when you have a few months trading behind you.

All of these programs are "good", but which is the best one to go with? Which one HAS made people money? What has the best design, is helpful for newbies and has the best user-interface? In this case, I would suggest that you check out some of the nicer review sites online that specifically feature these bots. The reviewer is going to list a summary about the product, whether its recommended, why, what it does, how it does it, what kind of leverage you are looking at and where it can be bought.

I know many people do want to just jump in and buy a robot and make money. It is important that you slow down a little and be realistic about it. As a new player to forex trading, it would be the fast way to lose money if you jump in too fast. Learn a little first to save yourself much pain later. You will reach your goal much faster. Find the review site that you can relate to, that you can trust. This is the most important first step to take. then plan which robots you will buy, and I do recommend that you buy 3 of them. And research which forex training course you will buy - I can recommend two of them as excellent value. - 23217

About the Author:

F0rexPhil has been Forex trading professionally and testing forex trading software and EAs for many years. His automatic online forex trading software review website is known to be one of the best there is for honest opinion on how good they are.

Understanding Candlestick Patterns (Part I)

By Ahmad Hassam

Based only on the market activity of the previous few days, most candlestick patterns are valid. Using one of these without knowing about the previous trends wouldnt be very useful. For instance, some of the candlestick patterns indicate a change in trend.

Usually the context in which you find the candlestick pattern tells you a great deal about what you should do based on that candlestick pattern. Lets consider simple candlestick patterns first.

The Bullish White Marubozu: A long white candle represents the day when bulls control the market. The bulls push prices higher from the opening to the closing. The longest white candle is the most bullish of the candlestick patterns. Chances are with the long white candle closing near the high, the bulls will be back for more buying the following day.

One common feature of the long white candle is an open near the low of the day and a close near the high of the day. This means that buying has been taking place all the day. With the long white candle, the low price on the candlestick is a good support level.

The Bullish Dragonfly Doji: A day must begin and end with the same price for a Doji to be created. A Doji just looks like a cross. So essentially there is no stick in the candlestick. A Doji is formed when the opening and the closing prices are the same.

Doji patterns are usually associated with a market turn. A Doji may not look very exciting to you. But dont be fooled. Doji depicts a day where the battle between the bulls and the bears has been fairly equal. A market turn is highly likely the next trading day.

The price action depicted by the Dragonfly Doji bodes very well for those hoping that prices go higher. The low of the Dragonfly Doji day is considered a near term support level. A Dragonfly Doji is unique in that three of the four candlestick patterns- the open, high and the close are all equal. You can make smart trades based on the Dragonfly Dojis.

The Bearish Long Black Candle: A long black candle means that sellers take over at the beginning of the day and push prices lower and lower until the end of the day. The long black candle is the direct counterpart of the long white candle discussed earlier. The long black candle is as bearish as it gets.

Price sensitivity is very low for these sellers and they are selling just to get out of their trades regardless of the prices. The long black candlestick pattern is a good bearish signal. You can capitalize on this fact. Seeing this type of enthusiastic selling must give you the confidence after the appearance of the long black candle that the bears will be in control for a few more days. - 23217

About the Author:

Mr. Ahmad Hassam is a Harvard University Graduate. He is interested in day trading stocks and currencies. Know The Candlestick Patterns. Learn Forex Trading!

The Importance Of Having A Forex Mentor

By Peter Kimber

Forex trading uses complex and sophisticated ways. A novice to forex trading may feel quite perplexed about the system. It is essential to learn and become familiar with the terms and the technical language used in forex trading. There are innumerable websites that provide a whole lot of information on forex trading. A beginner wanting to learn the trade might be confused by them. It would be difficult to know which of these websites will be suitable. If you aim to become a successful trader, earning substantial profits, you must learn the basics of the trade first.

For the new ones - Forex means Foreign Exchange. The paper and coin money of one country is exchanged with the same from another country. This kind of exchange is not done on Wall Street, but is done online or via telephone through banks, currency traders or brokers. One thing you must do, is get the timing right in order to make a profit in this type of trading.

You need a solid education on forex trading. This will give you the training required to profitably use trade opportunities in the forex market. With such training, you will know when is the right time to trade in a particular currency.

Newcomers to the market who truly want to learn and move forward need to be willing to take the time, and risk, that comes with an advanced and complex forex trading education. The time, money and energy expended is worth it as it will help you learn from trial and error what red flags to look for when making investments so that you dont continue to make faulty trades but instead learn which trades are logical and have the greatest potential for a high yield return.

You must pay attention to opening and managing an account as part of your training process. Learn by opening a dummy account to trade with virtual money. This will help you feel confident when you begin trading with real money.

You can search online for various websites that offer demonstration accounts for free. This would be the best place to go to get your education in trading forex.

Always ask questions. Thats the only way you will be able to learn this trade. Look online for any free seminars being given in your city. Attend them if possible and learn as much as you can before actually using your money to invest in forex.

Heres to your education in forex trading and hopefully you will be able to learn much about forex trading and can make a lot of money trading in the future. - 23217

About the Author:

If you want find out more about getting a forex trading training, then you should check out this website: learning day trading.

Forex Made Easy Programs

By Bart Icles

Forex, or Foreign Exchange, is the trading of the major currencies of foreign countries. Trading is done by buying and selling currencies in exchange for another to turn a profit from the price variations of the currency exchange rates. The trading of currencies can at times be a complicated task to difficult to undertake, most especially in the case of neophyte traders. However complicated its techniques and methods are, there also exist other methods that simplify Forex trading in the form of Forex Made Easy Programs.

Forex Made Easy Programs or Software Applications don't necessarily mean that you'll be immediately making huge profits in your trade deals, nor will it make you into an expert trader overnight. What Forex Made Easy Software Programs offer is a clear, step by step guide on getting started, what to watch out for when doing active trading, as well some helpful tips to encourage you to becoming a successful Forex Trader. There are countless excellent Forex Made Easy Programs on the Internet today, but the important thing to consider when choosing which one to use is not how expensive and well-advertised the program is, but in knowing which one is designed to compliment all your wants and needs for the kind of trading that you'll be actually doing in the Forex market.

Finding a Forex Made Easy Program won't be a problem, what with all the available programs currently being offered in the Internet; the problem may lie in choosing one among the myriad of programs advertised and selling their stuff with promises of being the best in the market. The trick here is to find one that you are comfortable with and one that fits your kind of trading system.

The considerations to take before deciding to purchase one is if the software program fits your budget, if the language and instructions are easy to understand, and that everything is current and updated. Without these, stay clear or else you will not have the benefit of getting educated on the most usable and effective methods on today's trading scenario and your career may suffer for it. Majority of software vendors seldom disclose the entire contents of their product, so you'll never know what you're buying into until it's already too late. Be sure to ask everything you can about the program - what its refund policies are, what product support you can expect in terms of software updates and technical support in case problems arises.

Don't lose heart if you encounter more problems than answers in your quest for a Forex Made Easy Program. Staying focused is one discipline you have to cultivate if you want to succeed in Forex trading. Once you get past this and have the program you need, you can then start building a lucrative career as early on as possible. - 23217

About the Author:

Forex trade starts with a desire to learn and a drive to become a great trader. Learning to trade forex takes dedication and a good teacher. But once you learn how to trade and do so successfully your life will change and you have options and financial resources you never had before.

Forex Market Basic Principles

By Bart Icles

Forex is the acronym for Foreign Exchange Market. It's an investment marketplace, more or less the same with other investment markets like stock or commodities. It is uniquely different so for its geographical dispersion and absence of being controlled by any one specific entity, corporation or country. Shortened as FX, Forex is a potentially dynamic and volatile platform where currencies the world over are bought and sold in an effort to earn substantial profits from its fluctuating values.

Forex is open for anyone who wishes to invest his time and finances to it. It attracts investors from all business sectors and income structure. One can say that Forex is most suitable for someone with a knack and thirst for venturing into quick money making schemes, as also for someone who is well-equipped with having a natural business savvy and a sound knowledge of Forex market.

Forex trading and its transaction activities take place from any part of the world and at anytime of the day. The market is always hectic and populated by heavy currency trading, and remains open for 24 hours a day except for weekends. Trading can be done either by your own personal account or with a brokerage firm to do trading for you. Being an active a solo participant in Forex, its best have a personalized strategy that is tailored to your kind of trading style, and to keep daily tabs on the latest updates about Forex market. If you are connected with a broker, all you need and have to do is to wait and watch for news and message alerts that concern your account.

Forex traders, new and experienced alike, need to have a detailed analysis of the market to have a clear picture of risks involved. Market analysis involves two important factors, namely technical analysis and fundamental analysis. Technical analysis is done by reading market facts and data generated by the market. Fundamental analysis is the process in determining the factors and conditions which influence the market economy. Both aspects are used as basis for whatever trade decisions need to be arrived at. A country's currency status is influenced by its economic, political, social events, and the trader who understands and correctly interprets such factors, are the ones most likely to profit from it.

Forex is a beneficial industry to participate in as it can provide substantial profit within a relatively short time, more or less. If you are well prepared and properly equipped in mind and heart, then chances are you're going to do more profitable trading now and in the long run. - 23217

About the Author:

We love forex trading and we love to teach how to use the platform properly and money management skills in addition to our forex strategy to help you succeed. Come learn more about our free forex trading course.