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:

Http://382caipafakhdz3apn6ewhkog6.hop.clickbank.net/?tid=FAPCOMMUNITY

http://0db9ecpedlpe2-5abhzf3yrv5b.hop.clickbank.net/?tid=FAPTURBOSALE

good luck but it takes knowledge as well

Forex Guide answers:

Here May Be you Check It .

It mas Taken Just Min’s of time But The Matter Of Question How It’s Making Money ? Here I’m giving Some One Of the latest Incredible Software.

Forex Guide answers:

Hi
here are some best forex trading platforms to strat trading
——————————
forexplatformslist.com
——————————
good luck

Forex Guide answers:

The only way is if you sit on top of the trade and watch in real time those signals. You will not find an EA for a few hundred dollars that is profitable long term. You are best off learning your own trading style and developing your own trading plan. Why would you spend time marketing a EA or robot, that was profitable. You wouldn’t you be too busy trading it.
Check the websites mentioned, also forex forums, forexfactory, trade2win etc. Also ask the 10 questions listed here. Http://www.wheresmystop.com/Forex-Trading-Systems-Robots.html

1) Whats your refund rate? Major question! What are refund terms 30 days, 60 days? You reckon you will know how successful a robot is after 30 days?
2) What brokers, if any, allow use of said automated robots? Some Brokers won’t, some platforms can’t.
3) What markets does it trade and time frames involved?
4) Profit history – Is this Hypothetical, Simulated over what time period months, years? Trending markets, ranging markets?
5) Small print small print small print ‘Past performance does not mean’ etc
6) Is it bait and run? I.e ‘limited number’ once sold, sellers gone..
7) Support Technical help etc

Good luck.

Forex Guide answers:

I’ve heard people touting Fap Turbo more than any other, but they’re the new hip thing.

There were several groups of us programming computers in the Nineties for the new neural net programs that could learn from its own mistakes and optimize itself, using branching techniques and if/then statements. We could optimize and curve fit and see it profitable on historical, but none were ever consistent real time. The same holds true today.

Just think about it. All the big money traders and institutions and floor traders and funds and banks, and they all have computers and programmers and experienced traders and they can all move the markets by small amounts, to a certain degree. All they have to do is buy Fap Turbo, see how it works, then trip the signals and take the market the other way.

I’ve made it sound like a conspiracy, but that is a simplified case. Any indicator that becomes well-known and widely used, will stop working consistently at some point. There are literally thousands of indicators out there that worked really great at first, but work about as well as a coin toss now.

If Fap Turbo makes so much money, why do they need to sell it?

Forex Guide answers:

The purpose of a demo account is to find out if you are good enough to trade Forex. You have found out you aren’t. This isn’t surprising, 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.

I’ve read a lot about Forex, but I’ve never seen a proven profitable forex strategy, despite the claims of some scam web sites. Most of the strategies out there are sheer crap.

Forex is 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. 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.

Forex Guide answers:

For every $1 made by someone… Another person is losing $1. The Forex market is made up of major banks trading. They trade currency’s for their customers. One major customer are the Forex Brokers. Other customer are institutions, countries, companies & individuals.

Here’s two things you need to know;
A. Paper Trading (demo trading) results means nothing. Almost everyone does well trading demo accounts. Demo accounts aren’t taking into account;
Volume
Slippage
Volatility
Gaps
Psychology

B. More than 95% of the people that try Forex trading fail in well less than a year.

Forex Guide answers:

Don’t worry about the lawsuits. FXCM is a very popular forex broker and you shouldn’t have any issues opening a live account with them. Personally I have registered with Oanda as I found their online java platform more user friendly than FXCM’s application and even have an open position in Oanda. You need to factor in the following most important points:

1. What leverage are you going to use…Oanda doesn’t offer more than 50:1, but FXCM offers upto 200:1.
2. What currency pair are you going to trade? Both offer the common currencies, but if you are into the exotic ones, each has its own offerings.

Forex Guide answers:

No! They will not reject your application!
The only thing you should do is to decide which platform is best for you!
In your case i suggest http://best-forex-trading-platforms.blogspot.com/2009/03/fx-cast-review.html

Forex Guide answers:

They do exist. The Chicago Mercantile Exchange trades options on FX futures. Why are they phony? The CME trades millions of FX options every month.

Forex Guide answers:

If you are new to trading, it will be best to get a job and trade forex on the side.

Trading forex, or even the stock market is not easy. 8 out of 10 persons who go into this will lose some or all of their money within 12 months. What’s worse, if you will rely on your trading profits to cover for day to day expenses, you will take on unnecessary risk and will fail in this venture much sooner.

Now to answer your question on funding your account–you have other options to fund your account. One is to wire transfer the money to your broker, which is more expensive and takes time. Another option for you is to send them a check, which also takes time. Have you tried using paypal, (if your broker accepts paypal–if not, try oanda.com)?

Hope my input helps.

Http://jsforex.blogspot.com

- Jim Syyap, Managed Forex Accounts

Forex Guide answers:

Saxo is one of the reputable forex brokerage. I have experience in trying out their system many years back, but it does not suit my preferences. Anyway, as I said that was many years back and I believe there should have been various upgrade on their system to date.

I would suggest you to sign up a demo account to try out their trading system if it’s suit you.

Good luck.

Forex Guide answers:

1. Open account
2. Fund it
3. Trade
4. Lose all your money

Forex Guide answers:

Http://www.paazee.com/ is more about what the web site doesn’t say. There is no explanation of their charges. They say it’s “commission fee”…. Well so are 90% of other FX brokers. They don’t tell you about the spread charge (which is how they make money).

With all the rip off’s and scams in Forex Trading…. You’d be better off with a government regulated broker (which is still not great… But better than most).

GFT
One & One
InterbankFX
FXCM

These are legit, FX brokers with fairly good spreads. Hopefully you’ve taken a year or more to learn the basics of Forex ,”Technical Analysis”, Trading Money Management and Trader Psychology. If not…. Say good bye to your money.

Of the four listed (above) I use GFT. Be prepared to lose most (or all) of your money on your first account. Most successful FX traders start to succeed on their 2nd or third FX account.

Forex Guide answers:

Sell a digital downloadable product.
Like an eBook or some other type of digital product. This way, you don’t have to deal with postage or anything like that.

It’s like an online vending machine!.!!

It’s really easy to set up websites like these. In fact, you can buy a website on eBay for very very little time or money,

and start making money within a week or two of marketing your website’!-!