Forex Guide answers:

In case you are looking for forex robots or automated system, there is NO such things that will work in the long run, else everyone is rich.

But if you are looking for guides especially on technical trading such as candlestick, MACD and so on, you can easily search it online. Good luck.

Forex Guide answers:

A few years ago, an academic paper was done showing that a random walk does a better job of predicting changes in FX prices than any of the existing macroeconomic models.

Subsequent research by Lyons and Evans shows that the one variable that does a good job of predicting future short-term FX prices is order flow. Order flow is like signed volume — where the sign is determined by who initiates the trade — the buyer or the seller.

Unfortunately, the only people with access to order flow are the traders at the major banks. That puts you at a distinct disadvantage.

In the mean time, the best way to find if FX prices will go upo or down? Flip a coin.

Forex Guide answers:

I’ve read a lot about Forex, but I’ve never seen a proven profitable forex indicator or strategy, despite the claims of some scam web sites.

Playing Forex can appear alluring, but the majority of people who try it lose money. All you have to do is do a web search on the words “Forex” and “lose” to see this is the consensus.

Forex is similar to what we call a “zero sum” game. You are making a bet with someone else about whether a currency will rise or fall. For every winner there has to be a loser. The net winnings of everyone combined equals zero. If you are smarter than the average player, you may make money. If you are dumber than the average player, you are likely to lose money. Most of the people making the “bets” in Forex are highly trained professionals at banks and other institutions. You are unlikely to beat them at this game.

Actually Forex is not quite a zero sum game. It’s a slightly negative sum game as the Forex broker takes a small percentage each time in the spread. It’s a small amount but over a hundred trades, it ends up being a considerable amount of money. So the average player is likely to lose money, and remember the average player is a highly trained professional and probably smarter than you.

There is a lot of luck in Forex, and if you play it, you will have some periods of time where you make money. This is usually because you are having a lucky streak, not because you have suddenly become an expert Forex player. However, most people are unwilling to admit their success is due to luck. They become convinced they have a system that works, and lose a lot of money trying to refine it.

Further complicating the problem is the large number of Forex scams on the internet. Most Forex websites are of questionable honesty. You will find many people on the Internet that claim they made a lot of money using Forex. They are usually liars trying to make money. They will say: “Go to Forexcrap,com/q2347.” The “q2347″ is a signal to the Forexcrap site that you are being referred to them by “q2347.” If they sell something to you, “q2347″ gets a kickback. These coded signals can be hidden by different methods in the link. Other people will refer you to their own private website or blog for the purpose of trying to get money off you. Also there are a good number of trolls out there that like to pretend they are successful forex traders just for the fun of it.

I would recommend not trying to do Forex at all, unless you are a trained professional. It’s like playing poker with people better than you, with the house constantly taking a small percentage from the pot.

Read the warnings in the links below:

Forex Guide answers:

FXCM has several free charting version. Including ADX and stochastic indicators. Dont know exactly what you mean by sentiment but you can try FXCM. I have included a free demo version of FXCM trading platform video clip here. And a free utility Forex trading reality check tracker. Http://www.geocities.com/lcming/Forexhome & http://www.geocities.com/lcming/Forexbooks

Forex Guide answers:

Given the indicators are currently the most talked about Pro Trade Copycat.

Forex Guide answers:

Common Sense is right.

To make money in this market, you need to pay your dues first–learn everything there is to know about making money in forex trading.

Richard Dennis once said that even if he were to publish his trading secrets in the leading newspapers, not everyone who will use it will make money.

There are traders who make money trading with the simplest trading methods. As Alexander Elder said, the three keys to long term success in the markets are Mind, Method and Management.

The goal of a good trader is not to make money, but to trade well.

Good luck!
- jim http://jsforex.blogspot.com

Forex Guide answers:

The forex market is highly risky and there a lot of suspicious offers been made. If a robot can guarantee you just 20% a month than in less than three years a $1000 dollar investment can turn into half a million dollars. When it sounds too good to be true it probably is. The only way to make money in the forex market is to put in the hours to learn about the market and experience trading as much as possible.

Forex Guide answers:

First of all Bob needs to get his facts straight. Forex is NOT a futures market. Because it’s highly leveraged like futures doesn’t mean it’s futures. Forex is the currency markets, where you trade a currency pair like the EUR/USD or USD/JPY.

Is it risky? Yes. But so is driving. How many people get killed on American Highways everyday? Does that mean you should not drive? If you drive safely, defensively, and watch your speed, etc., then you greatly increase the chances of getting to your destination safely. Same thing with trading.

It kills me when these people make general comments like that. Everything has an element of risk to it, but it doesn’t mean you shouldn’t do it.

And FX used to be for the big boys only. Prior to the early 90′s if you wanted to trade FX, you needed a net worth of at least $10 million and an account minimum of $1 million. But, today you can open an account with as little as $100. Other things like stocks, options, futures, etc. You need to have at least $5,000 to open an account.

Now to answer your question an Expert Advisor is basically an automated trading robot. It’s just a system that’s automated and will trade your account for you.

Hope this helps.

Forex Guide answers:

Over the years I have traded a lot of EAs. Some with live money (like Steinitz HAS), others with demo money. I have made money with some and lost money with others. I did make money with Steinitz for a 2 months I traded it but I also have friends who have lost a lot of money trading Steinitz. Here is the reality, there is no such thing as an EA that will consistently make money. Why? Because the market is constantly changing and no system (except the Holy Grail) can make consistent profits without human insight. That is the reality.

Here is what I recommend. Rather than going out and buying a Forex trading system programmed into an EA; educate yourself about Forex, design a couple trading systems that work across multiple market types, and then have them programmed into EAs. This way, you will know what moves the market, why your EA works, and you will be able to achieve steady profits.

Forex Guide answers:

Woudlnt recommend autopilot, imo. Learn technical analysis yourself and trade forex. Goodluck but more importantly be careful.

P.s. Before you trade, read as many books you can or you will most certainly fall

Forex Guide answers:

They are all scams. The only people making money are the folks selling the forex robots.

Do not seriously believe that a free (or cheap) piece of software will generate consistent profits.

Investing is not easy. Read. Study. Take a class. You have much to learn.

Forex Guide answers:

It’s a fools game to chase these, but the commonly cited highest paying phrases are:
mesothelioma
personal injury lawyer
car insurance
life insurance

Forex Guide answers:

Why don’t you ask your broker?

Forex Guide answers:

ETFs are cheaper than mutual funds. ETFs have very low annual expenses, nearly 20 basis points or 0.2% less. As against this, actively managed mutual funds show average expenses exceeding 135 basis points (1.35%). This does not include the extra 2% – 5% as loads, 12(b)-1 marketing fees, transactions costs, and soft dollar expenses mutual funds, passed on to you but never informed, except in very fine print that nobody cares to read. ETFs have a lower turnover than most mutual funds. As ETFs do not require active management and hold nearly a steady stream of stocks, there is hardly any portfolio turnover.

Forex Guide answers:

One little piece of the puzzle does not a Plan make.

You’ve left out so much, there’s nowhere to begin. We could guess forever.

What are you using to generate signals?

Which software are you using.

Is your trading experience in the stock market?

If so, one day in the stock market is 6 hrs, but 24 hrs in forex. So a 180 min chart or 90 min chart in forex might be equivaltent to the 30 min used in the stock market.

Trying to trade with the trend? Or momentum? Using moving averages? Stochastics? Pivot Points? Fibonacci?

If I’m trying to trade with the trend, then my first step is to “determine” the trend, and whether all time frames add up. I start with the weekly, then daily, then 240 min, then 90 min.

If not the trend, then maybe a breakout? See, too many questions. Not enough specifics.

The first thing you should do is develop a trading plan. I don’t think you’ve done that, because you can’t develop a Plan without specifics.

Try again.

Forex Guide answers:

No EA will make money

Forex Guide answers:

Honestly, you’d probably be much more profitable learning technical analysis, tracking economic events, and trading for yourself. No one will trade your money like you can.

Forex Guide answers:

I’m not familiar with an EA that would do this, but you could share the investor login for the MT4 platform with your friends. It allows another user to login and view the trading activity but not trade the account.

You could also use a site such as www.fxstat.com, www.mt4stats.com, www.myfxbook.com, or www.mt4pips.com which imports the MT4 statement up to their website which you can then share with your friends.

Forex Guide answers:

I’m not going to lie to you when I say that most “forex robots” are actually scams.

Because people know we are a “hungry crowd”, they figure that they can easily make a quick buck byselling products that don’t actually work…

So I was very pleased to find http://www.fxsystemscompared.com which reviews only LEGITIMATE forex robots.

I personally use one called “Forex Autopilot” which is a software tool and comes with several guides too. The review for that tool is here: http://www.fxsystemscompared.com/rev_forex_autopilot.html

Forex Guide answers:

The time difference won’t have that much of an impact. It’s one of three reasons:

Fapturbo doesn’t work.
Fapturbo doesn’t backtest well, but performs better in real time.
Your backtester (Metatrader?) is buggy.

Try it on a demo account, in real time, for a month or two. Backtesting is not accurate at all, but demo trading is very accurate.

Forex Guide answers:

You have signed up for a spammer site. Run while you still have some cash.

If anyone had reliable and repeatable forex analysis, they would spend their time trading to become wealthy. They would not sell it to you for small amounts. The premise is absurd.

It is incredibly easy to construct a wonderful track record looking back in time. Do not be so naive as to mistake that for the real thing.

Forex Guide answers:

I think you’re confused. They might be offering 1% per year, but not per day.

T-Bill rates are 0.15% per year

http://online.barrons.com/data

What is your question?

Forex Guide answers:

Very simple. Anyone promising to multiply your money 7-8 times is a thief.

Forex is a legitimate market. Unfortunately most forex advisors are scams. There are many lies about forex robots and other automated systems that do not work.

Forex Guide answers:

They’re a reguler spammer of Yahoo Answers. That should be sufficient reason to avoid them.

Forex is a large market where the professionals dominate the amateurs. Unless you have serious knowledge and skills, you will lose. Advice from a spam site will not change that result.

If someone had reliable and profitable forex analysis, that person would use it to trade their own money. They would not waste time trying to make a few dollars off you. There is no logical way this site (or any other forex robot or advice site) could possibly benefit you.

Be smart and learn to do your own research. Read. Study. Take classes.

Forex Guide answers:

Please understand. He has not invested in forex. He has invested (gifted away) his money to an organisation that probably claimed to give him daily or other periodic returns by investing in the forex market.

So please do not go this route. Rather than that, have a 3-in-1 account with an authorised broker and invest only through it. Of course you may subscribe to tips but remember most tips come with a very small time range for selling out so they are fit only for people doing whole time, 24X7 (forex market works all round) investing.

OK