What is a good forex trading system ?
Forex Trading System?
Posted by admin on July 29th, 2010
Posted in Forex Trading Systems Auto Pilot Forex Trading System
Auto Pilot Forex Trading System | Forex Trading
Posted in Forex Trading Systems 
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.
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 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.
This is difficult to say. It depens on the timeframe you trade and on your risk preferencies. What pairs do you want to trade ? I am a systemtrader since 5 years, but i only trade my own systems. If you buy one , be extremely carefull, becase there is a lot of garbage out there. Look at the web for customer reviews. There are also a few site on the web, which are testing the performance of different online trading systems like futurestruth and so on. Also have a look at cashranker.com , they show you different kind of forex online trading systems.
Best regards
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try http://www.forexnode.com/systems for dozens if forex systems
Don’t open a forex account, I know lots of ads are out there promoting forex but trust me stocks are much better and safer to start out with. You know the funny part? If you have a brokerage account there are actually stocks that you can by which mimic the movement of forex rates! FXJ is one stock that comes to mind. But my point is don’t go for forex first, it’s too dangerous. Start with stocks.
Step 1. Pick up a few books and read up on stocks. Go for low risk, low yield stocks first since you are new at this. Read as much as you can and watch youtube videos and documentaries. If you find the topic interesting then open a brokerage account somewhere and start buying stocks. Don’t open a forex account, I know lots of ads are out there promoting forex but trust me stocks are much better and safer to start out with.
Step 2. Sign up with an online broker. (you can do this the same time as step 1 as long as you don’t jump the gun and start trading without some basic skills)
I recommend a low fee brokerage like sogo who charge $3 a trade and also give you 100 free trades to start so make your first few trades really small ones.
https://www.sogotrade.com/Setup/Default.aspx?rf=392837
While you are learning about stocks also read up on options. That is a must if you want to be an investor. Take a look at LEAPS, you will be glad you did.
Hit amazon and look for 5 star reviews on books. and get this book on options:
Option Volatility & Pricing: Advanced Trading Strategies and Techniques by Sheldon Natenberg.
Hmm, it seems your other Answers are more intent on changing your mind than answering the question.
List of Forex Platforms and software
http://forexplatformslist.com
http://www.forexnode.com/systems/
http://trading.web22.net/
http://www.marketiva.com/index.ncre?gid=3371
for beginners
http://softwareforexreviews.blogspot.com/2009/10/forex-software-project.html#comments
http://www.automatedleverage.com/
http://www.setupaccount.zulutrade.com
All you have to do is pick the experts you like, and ZuluTrade will quickly convert their advice into live trades in your trading account directly with the broker.
Other Forex resources:
useful e books:
http://www.1forextrading.com/
Blogs
http://the-forex-trading.blogspot.com/
http://www.forexpeacearmy.com/
Yahoo Answers only allows 10 links, so I had to delete quite a few. If you want to contact me and send me your email address, I will send you some ebooks that I have on Forex and some other links. Just click on b2fnow to contact me.
I presume you mean that you want to find a site with trade instructions .. buy now or sell now etc?
My honest view is forex is never about following instructions. You need to experience it in it’s fullest yourself and to understand what happens behind.
At the end of the day, proper money management will save the day.
While i do not have specific trade signals, i do blog about eur/usd views and have a ton of forex articles i have written for newbies. I also have a system call The Koala System. It is not a get rich fast system but rather a system to prevent you from entering trades on the wrong side.
Do feel free to take a look.
Hope you find sucess. Trade Safe.
hi
here you can find a list of best forex trading systems
http://forexplatformslist.com
good luck
Here is a great summary of several systems out there to automate the trading.
A good forex trading system is a profitable one that cuts losses as soon as possible. A good trading system needs to use great risk-reward so that your average win is at least twice your average loss.
Fap Turbo is Good automated trading system.My favorite EA is fap turbo.
try this site..maybe it could help you..
http://www.currency-trading-tutorial.net/
We are professional forex traders and have a lot of resources to learn about forex on our site.
Be sure to check them out, they will get you started on your endevour.