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This is a discussion on Forex Articles within the General Discussion forums, part of the Trading Forum category; By: DailyForex.com Forex trading signals have become an extremely popular way for traders at all skill levels to receive trade ...

          
   
  1. #11
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    MQL5 Signals Offers MetaTrader4 and MetaTrader5 Trading Platforms

    By: DailyForex.com
    Forex trading signals have become an extremely popular way for traders at all skill levels to receive trade ideas from other, more experienced traders. Many traders have also come to appreciate mirror trading abilities, which allow them to automatically copy trades from another trader into their trading platform. Until recently, however, these forms of trading were difficult, if not impossible to execute using the MetaTrader 4 and 5 platforms, as the MetaQuotes Software Corp., the developer of the MetaTrader platforms, did not allow third party software to be integrated to their quality trading platforms. This limitation has been resolved, however, with the launch of Trading Signals for MetaTrader 4 and MetaTrader 5, a service developed entirely by the MetaQuotes Software Corp.
    First available for the MetaTrader 5 platform in a package called MQL5 Signals, the company’s Forex signal service is now also available for MetaTrader 4 users. MQL5 Signals was developed for all types of trading purposes and is a great tool for providing assistance to traders who do not have enough self-confidence or familiarity with selling or purchasing currencies on their own, or for those who simply don’t have time to trade as much as they’d like but are still eager to profit from market opportunities.
    The use of MetaTrader 5 Trading Signals is simple and quickly grasped by all users, including those with very little trading experience. No need to worry about selecting unclear settings or about understanding confusing agreements and forms. With MetaTrader 5 Trading Signals there is no manual control; everything is fully automated to the maximum extent possible so that traders can watch and learn from other people’s trading while having the trades copied directly into their account.
    MetaTrader 4 and MetaTrader 5

    MQL5 Signals consists of a list of all available*MetaTrader 4*and*MetaTrader 5*signal providers. The list is automatically updated in the client’s terminal. This cloud network consists of multiple Signal Servers all over the world which are located near broker servers in order to implement the*MetaTrader 4*and 5 platforms.
    In addition to the advantages for traders, the MQL5 Signals service is also beneficial to those interested in selling their signals. Pro traders can register to post their signals into the copier, and then traders subscribe to the signals provider of their choice and the signals provider gets a fixed monthly subscription fee from all his clients directly from the system. To make the sale and purchase of trading signals even simpler, there is a choice of different payment systems.
    Why Use MQL5 Signals?

    1. MQL5 Signals is a simple and commission-free service. Setting up a subscription involves just a few clicks. *For the trader, a deal is copied automatically without the trader's intervention and there is no commission involved in any deals. For signals providers, it takes less than a minute to add a signal to the base and set a subscription fee.*There are also no fees from increasing spreads that would result from frequent deals. *
    2. MQL5 Signals provide high security for all its participants. Signal providers are carefully selected and must work in a test mode for a month. If they pass the test, they may*offer their signals on MQL5.com.*
    3. Signal subscriptions can be purchased easily. A trader who is interested in a particular signal that is available for a paid subscription is able to subscribe to it without any hassle. There are many payment systems*supported by MQL5.com which simplify the process, including WebMoney, PayPal, or a bank card.
    4. Subscription Benefits- No agreements between subscribers and providers are necessary. Signals providers put their products up for sale and each subscriber chooses the most suitable one. All processes are performed strictly inside the system avoiding any kind of paperwork. **
    5. MQL5 Signals provides access to the largest financial markets. All traders using the trading platform in their account are able to choose and quickly subscribe to any signal available in their terminals.*
    6. There is a minimum delay in execution of deals and it is not necessary to keep one’s terminal constantly online. All deals are copied automatically even if the terminal is not launched. If the subscriber and provider are located on the same server and Trusted Execution Token (TET) mode is on, execution of deals is directly fixed in the trade server and there are no delays.
    7. MQL5 Signals offers full transparency of trading history. In addition, the company knows nothing about its subscribers, except for their amount.
    8. MQL5 Signals charges very reasonable prices, with only a fixed subscription fee and the ability to return the current month subscription fee in case of a disagreement with a Signals Provider.
    9. There is no conflict of interest between MQL5 Signals and other participants. The company’s interest is limited by 20% of commission for subscription.
    Signal Providers
    Followers of MetaTrader signals need not be worried about the validity of the signals provided. Though it goes without saying that not every signal will be a winner, there are rigorous processes in place to ensure that traders don’t take advantage of their authority as signal providers. For example, a signal provider can create only one signal for one trading account. All paid signals must pass a one-month test period, during which they are checked for compliance with a number of requirements. Upon passing successfully, the provider will gain access to the entire market of*MetaTrader 4*and*MetaTrader 5*users and will receive direct access to his/her potential subscribers.*


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    EUR/JPY Daily Outlook- May 14, 2013

    By: DailyForex.com
    The EUR/JPY pair fell during the session on Monday, but as you can see bounced quite a bit by the end of the day in order to form a hammer. This hammer of course is focused on the 132 handle, and as a result looks like we are ready to continue going higher. With that in mind, a break of the highest from the Monday session is indeed a buy signal, and one that I fully intend on taking.

    Going forward, we have to look at the past. We have recently broken out of an ascending triangle that measures roughly 600 pips, and as a result should see 600 pips from the breakout point at the 131 handle. In other words, the 137 handle should be targeted eventually. This will necessarily happen overnight, but the way that the yen related pairs have moved recently, it probably won't take that long.

    If the Euro gets a bounce, this could really take off.

    Watch the EUR/USD pair as well. If that pair starts to take off, and breaks above the 1.30 handle, we could see a significant move in this pair as the Yen continues the selloff, and the underlying strength of the Euro could really get this thing moving. In fact, that wouldn't surprise me at all, and I believe it is more than likely going to happen.

    As far as selling this pair is concerned, there is obviously no way to do so. The Bank of Japan has made it abundantly clear that they are willing to work against the value of the Yen going forward, and as a result selling is not even a thought. On the other hand, if we do pullback I believe that we will see 130 as a "floor" in this marketplace going forward and anything near that more than likely should offer an excellent buying opportunity. We will see pullbacks from time to time, but I think we will not see this pair and the 120s anytime soon, and that the area will end up being a distant memory.




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  3. #13
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    EUR/USD and GBP/USD- week of May 13

    The EUR/USD pair looks primed to continue the sideways action that we have seen for some time. Although the pair did in fact break down below the 1.30 level, the support that the market currently seems to be adhering to extends as low as 1.2950 or so. Because of this, the fact that the Friday session closed above that area, it is hard to get overly bearish on this pair at the moment.
    *In the end, the pair will more than likely attract bargain hunters this week, but to expect some kind of surge is probably being a bit too optimistic at this point. The US dollar continues to be the favored currency in the Forex markets, but if there is a currency out there that has nine lives – it’s the Euro.
    Looking at the chart, the breakdown will have caught some people off guard, but you can clearly see that there is a lot of “noise” down to the 1.28 handle. With this in mind, it is going to be easier for the pair to rise than fall overall. However, one always has to keep an eye on the headlines, as it seems like every time the markets calm down and we forget the debt issues in Europe, something comes back to get the market going. If there is a surprise – it will be negative.



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  4. #14
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    Top 5 Reasons to Trade Gold

    By: DailyForex.com

    Gold is more than an expensive way to adorn one’s neck or fingers. It’s used for capping teeth and as a conductive material that will not corrode and will help transmit information electronically from one place to another. It’s used to help build spaceships that require the strongest and most reliable components. Gold is even used medicinally, as part of a treatment plan for certain forms of cancer and rheumatoid arthritis. But in addition to its physical uses, gold is known as one of the most frequently traded metals largely because it has historically been considered a safe haven investment and one that isn’t subject to dramatic fluctuations based upon the volatility or market movements of any major currency.
    Fortunately, investing in gold isn’t an option available only to governments and financial institutions; it’s a viable option for private investors worldwide who are looking to take advantage of this safe haven asset. If you’re still on the fence about the benefits of trading this precious metal, consider the following top five reasons to buy gold.
    1 – Inflation protection. The cost of gold tends to rise as the cost of living rises, which means that it’s essentially inflation-proof. If you take a quick glance at the history of the US stock market, you’ll see that in the times of the highest inflation, the Dow Jones Industrial Average has plummeted, while the cost of gold remained stable, if not higher than usual. Consequently, anyone worried about how inflation will affect the return on their investments should consider investing in gold.
    2 – It helps diversify your investment portfolio. Any respectable financial advisor will tell you that it’s vital to have a diverse list of assets within your investment portfolio. Though many people think that diversity counts only when it’s a mix of stocks, bonds, CFDs or currencies, gold is an excellent way to add a new dimension to your portfolio, and to add a bit of stability even in a risky portfolio.
    3 – Gold is immune to geopolitical crises. Though currency values and stock prices tend to fluctuate based upon the political climate of a country at any given time, gold tends to resist such dramatic price swings which makes it a solid choice for anyone concerned that their own currency may be at risk or who are concerned that their own currency may be devalued for any reason when they need it most.
    4 – Limited production increases the value. Unlike the case of currencies, where government leaders can opt to bring more money into production almost instantly, gold production is a rather laborious process, one that can take years to develop. For this reason, every few years there tends to come a time when the demand outpaces the availability, causing gold prices to spike.
    5 – It has a history. Even a cursory glance at market trends will show that all currencies at some point or another fell significantly in price – and that global stock markets have plummeted as well. Gold, however, is a metal that has maintained its value for millennia. Gold has been noted as valuable since Biblical times, and remains so until this day. Although the price doesn’t always increase, gold has never experienced the long-term fall from grace suffered by all other major currencies throughout history, including the almighty US dollar.



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  5. #15
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    Price Action Storytelling

    By: DailyForex.com

    Quite often when we see traders referring to “price action” we see them talking about one facet of a chart or one singular part of a price. For example; traders will quite often point out and focus in on the support and resistance zone or an entry candlestick signal such as the Pin Bar Reversal.

    The best price action traders will look at the overall price action story. Whilst the best traders will have a firm grasp and be able to use all the same points of confluence such as support, resistance and candlesticks signals, they will use these not just by themselves, but rather as one piece of the puzzle.

    The Price Action Story

    Support and resistance levels make up a very large part of the price action story. These levels determine where price has been in the past and more importantly where it will be able to go in the future. Price action traders reading their charts can plot and learn a lot from marking previous levels.

    Another key element of the price action story is the current market structure I.e. are there any current trends or are we currently in a range or boxing situation. This may be the most important factor of them all. The biggest edge a trader can have on their side and also the one they most often don’t is the trend!

    The biggest mistake with the trend is traders think that every market must be always in a trend and the truth is that more often than not most pairs are NOT in trends. More often than not price spends on consolidations and in ranges and in what we call boxing situations. This is where price makes a large move and then moves sideways in a box. This is important to know because if you enter when price is in a box you need to be prepared to sit and wait for price to move sideways.

    Price Action Entry Candle

    There are many price action entry candles a price action trader can use to enter the market. Please check my profile for a few free tutorials on price action entry signals. One entry signal example price action traders can use is the engulfing bar. If a trader was to enter the engulfing bar in the Forex market randomly, they are going to be a losing trader. If however, that same trader enters the engulfing bar and matches it up with the price action story, then their chances of success are far higher. It is all about the price action story and not the entry signal.

    A lot of price action educators and mentors get wrapped up about the last candle and teaching only the last entry candle. The major problem with this is the entry candle is only the last candle on the whole chart that is made up of many candles. The price action trader needs to be able to read the whole price action story which means evaluating and assessing the information and the whole chart.

    Recap

    When you are assessing your next price action chart remember this article and remember about looking at the whole price action story. Get rid of all your indicators and learn to read the raw price and exactly what story price is trying to tell you and where it is telling you it is heading.

    I hope you have enjoyed this article and if you want to become a top price action trader, the only way is to get the education and then put in the time.
    All the success,
    Johnathon Fox



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    The Benefits of Shopping for a Signals Provider

    Forex trading has become one of the most popular investment vehicles in the market today. It is an easy financial instrument to understand and profits from winning signals can be be achieved in a matter of minutes or hours. Forex signals work by suggesting to traders when is the best time to enter a trade on a currency pair and at what price. The signal can be generated by a human analyst or by an automated service that scans the market looking for certain indicators and triggers a signal when they are reached. The signal can then be sent manually by the generator or automatically by the signal software. It can also be implemented directly on the trader’s trading platform via an automated Forex trading system. Automated Forex signals allow trades to be executed with tremendous speed and in a variety of ways-often on the most up-to-date execution system such as the MetaTrader4 or MetaTrader5 platforms.

    Who Generates Trading Signals?

    Some of the most successful Forex trading signals are offered by full-time private traders. Others are offered by brokerages looking to leverage their knowledge to help their own traders succeed. Yet other signals can be generated by new traders who are looking to share their ideas with others and to build a following for themselves or a community of other traders with which they can correspond. Many times these signals offered by newish traders are found on social sharing platforms rather than as a monthly subscription model. They should be regarded with caution, but may be a very good option for traders with some knowledge who are looking for guidance but are on a tight budget.

    It is worth noting that unlike day trading where a trader can spend considerable time managing his buys and sells, brokers who supply trading signals often provide weekly signals which can prove extremely profitable with a minimum of effort. They won’t, however provide daily updates or ideas to traders looking for regular hand-holding. Traders who aren’t sure exactly what type of signals they need can ‘shop around’ by looking at signals marketplaces such as that offered by MetaQuotes provide traders with the ability to explore multiple options, read about different trading strategies and schedules of the signals, and to decide which one (or ones) may be the best for their specific trading practices.

    Advantages of Forex Signals

    The benefits of using a Forex signal service are numerous. For starters, signals services allow traders to feel comfortable stepping away from their computer, while knowing that another trader (or robot) is still monitoring the markets for profitable opportunities. Novice traders will appreciate the fact that signals services provide them with guidance in the market, and help them identify not only (hopefully) profitable trades, but also strategies that they can use in the long run to implement their own trades. Experienced traders, most of whom prefer manual signals to autotrading, since they want to maintain control over their account, often use Forex trading signals as a baseline comparison for their own strategies and a way to see whether other traders agree or disagree with their assessment.



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  7. #17
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    Understanding ECN Order Flow Trading

    By: DailyForex.com
    ECN or Market-Maker Broker?

    Debates over the suitability of ECN versus traditional market-making brokers tend to focus on the following issues, broadly as follows:
    • minimum deposit sizes (higher with ECNs)
    • spreads (lower with ECNs)
    • commissions (higher with ECNs)
    • execution (faster with ECNs but at more realistic prices)
    • slippage (greater with ECNs)
    • exposure to account losses (greater with ECNs)
    These are all areas that any trader looking to open a new account should explore before making a final decision as to which type of broker is more suitable, before taking a closer look at the specific brokers themselves.
    Missing from this equation is an important question: should a trader's trading style be a crucial determinant of this choice? The smart money's consensus is that it shouldn't, albeit with two exceptions. Firstly, scalpers tend to have an easier time with ECN brokers, even if only because many market maker brokers watch out for and ban this style of trading. Secondly, order flow traders have to use ECN brokers, as the information they need to make their trading decisions is only available through the platforms of ECN brokers.

    What is Order Flow Trading?

    Order flow trading relies on a simple theoretical basis: the only thing that moves the price is whether there are more buy or sell orders right now. It follows that if you look and see the price levels where clusters of buy and sell orders are placed, you can put the same type of order at or close to the same levels, and trade profitably along with the momentum generated by the crowd.
    Price action / candlestick analysis trading follows the same logic by divining the footprints of order flow from the chart. True order flow trading takes things a lot further, however.

    How Does Order Flow Trading Work?

    The big players in the market are all using ECN-type trading. The essential point is that while most retail market-making brokers just show bid and ask prices, ECN traders can see the stop and limit orders that are actually sitting in the market waiting to be executed. Not only can they see the prices at which the orders are set to be executed, but their sizes as well: they can see the market depth.

    Bear in mind that there is nothing to stop traders putting orders in some distance away from the current price, but then pulling the order out of the market before it actually gets executed. A clever order flow trader might be in a profitable long trade with the price at 90, but with the upward move running out of steam. He wants to drive it further, so he puts a huge sell order much bigger than his position in at 100. Other traders can see this order, which encourages them to buy, expecting to be easily able to get profitable sell orders filled at 100. The price rises, but the trader with the big sell order at 100 actually uses this buying to slowly sell his position. By the time the price hits 99, he has sold out all his position at higher prices, and he quickly removes his big sell order at 100. Mission accomplished for this trader.

    This is a simple example of one of the games within games that order flow traders play, some very profitably. If you are ready and suitable for an ECN broker, a new world of opportunity might be beckoning.



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    Day Trading Strategies

    By: DailyForex.com

    Day trading has come a long way since its inception. It was introduced in 1975 as an acceptable mode of trading stocks when the United States Securities and Exchange Commission (SEC) ruled that fixed commission rates, which had been set till then at 1% of the trade, were illegal. This enabled brokers to offer their clients a much reduced commission rate. It also opened up a whole new concept wherein not only brokers could place trades but everyone had the capability to sit in front of a computer and buy and sell stocks all day. From here emerged a whole industry of day trading which subsequently branched out from stocks to other investment instruments, such as futures, options, Forex and commodities.

    Day Trading Strategies

    There are many day trading strategies. Some follow the same pattern as does broker driven trading while others are unique to day trading. The idea behind day trading is to gain profits by taking advantage of the small price movements in liquid stocks and indexes. One way of doing this is to leverage large amounts of capital which gives the trader additional funds to use for placing trades.
    When considering day trading strategies, the first one to look at are the entry strategies. A day trader should first consider selecting stocks that seem ideal for day trading. The liquidity and volatility of the stock are the next things to consider. Liquidity offers the trader the opportunity to enter and exit a stock with a tight spread and at a good price. The volatility of the stock is the measurement of the daily price range within which the stock is expected to move. Greater volatility can lead to greater profit or loss.

    There are several ways to identify entry points including technical analysis such as candlestick charts and trend lines. Staying current with financial news can provide important data for market movements. In addition, a day trader can be on the lookout for orders that are coming in from elsewhere and take note of the increasing or decreasing volume of the stock.

    Stop Losses

    Using stop losses is another important day trading strategy. Most day traders trade on margin this can be quite risky as steep price movements happen constantly. A stop-loss triggers the predetermined price where a trader will stop trading. This price should suit the risk tolerance of the trader. In addition, a day trader can make a mental stop-loss whereby he/she will exit a position if it takes an unexpected move. By predetermining a maximum loss for each trading day, the day trader will feel less tension and stress during the day secure in the knowledge that he will not find himself in a terrible situation at the end of the trading day. Experienced traders will use this day trading strategy; novice traders believe they must make up the loss and instead of ceasing to trade, they take unnecessary risks in order to break even.

    Other day trading strategies have developed over time and have become very popular for day traders. Scalping, for example, involves selling immediately after a trade has become profitable, i.e. when the price has gone above or below the target price. When a price rapidly moves upward, a day trader can use Fading to short the stock. This may be risky but offers nice rewards. Daily pivots is a day trading strategy whereby the trader endeavors to buy at the low of the day and sell at the high of the day, taking advantage of the stock's daily volatility. Using momentum when day trading may involve the purchase of stocks based on ongoing news reports and riding out the trend until it begins to reverse. Other momentum traders will watch for a strong trend in either direction and an increased volume and then place a trade.

    All of these day trading strategies have enabled traders to increase the volume of their day trading and have provided the ability for more and more day traders to create a full time business from the comfort of their home.


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    The Advantages of Meta Trader Signals Services for Traders

    By: DailyForex.com

    MetaTrader 4 and the recently introduced MetaTrader 5 are electronic trading signals used by online retail foreign Forex traders. The software consists of both a client and server component and is licensed to foreign exchange brokers who provide it to their account holders. The server component is run by the broker. The client software is used by the trader to see live streaming prices and charts, place online orders and manage his or her account. Meta Trader Signals is a social trading service and with millions of traders subscribing to the same platform, the opportunity for additional profits is obvious.
    The “signals” in the new Meta Trader trading platform allow traders to connect to any signal issued by a provider anywhere in the world. A trader can select and then subscribe to any trading signals provider and can then duplicate these deals in his own trading account.

    Advantages

    What are the advantages of the Meta Trader service for traders?
    First of all, signing ups for the Meta Trader service is straightforward and even a novice trader can get on board with only a few clicks. Once the Meta Trader terminal has been installed, a trader needs only to select a signal provider and he can initiate trading.

    With the Meta Trader platform, a trader is not required to come to any formal arrangement with a provider. Only the pricing and trading terms of the signal provider require an upfront agreement. The Meta Trader signal provider market is the largest market around, listing thousands of successful traders from all over the world who deliver their signals in the market. In addition, there is no stipulation that a trader maintain an account with the same brokerage company as his or her signal provider. There is total freedom of choice when it comes to selecting a brokerage company.

    There are no commissions to the provider. A trader pays only for what has been agreed upon when signing up for the service. There are also multiple payment options available to a trader.

    Less Fraud

    Chances of scams or fraudulent behavior by signal providers using the Meta Trader platform is almost none existent since providers are scrutinized exceedingly to ensure that only profit making providers enter the provider market. It is, of course, vital that the signal provider chosen is trustworthy so a certain amount of research should be done before selecting someone.

    With Meta Trader, chances of loss are less than with other investments since a trader can select a signal provider with a track record that meets a specific trader’s expectations and whose trades can then be duplicated on his or her own trading terminal. Trades are synchronized in real time and are automatically placed.

    Secure and Anonymous

    Another important aspect of the MetaTrader platform is that it is secure and anonymous. A trader does not have to worry about trader privacy since traders’ information is not visible to the signal providers.
    MetaTraders can copy the Stop Loss and Take Profit Levels of their signal provider. For novice traders, who do not know when to Stop Loss and when to book profits, this can be a real advantage. In addition, a trader has the option to designate the percentage of the amount he or she wishes to trade. This helps in stopping unexpected losses and maintains a buffer zone for his account. Another option terminal is the “Stop if Equity is less than A” feature which puts a break on all actions if the equity level in a trader’s account falls below a pre-specified level. All positions automatically close and pending orders are also removed. This limits one’s losses.*


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  10. #20
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    How to Choose the Best Forex Robot

    By: DailyForex.com

    With today’s fast paced trading options, choosing the best Forex robot has taken on a major role in Forex trading. The use of a Forex robot is basically one of the methods employed by a trader to buy or sell on the Forex spot market. It is often referred to as ‘autotrading.’ Although autotrading was originally used on the Chicago Mercantile Exchange as far back the 1970’s, it emerged big time with the advent of the internet in 1999. Today, most online brokerages offer Forex robots.

    There continues to be a debate, however, as to which is a more beneficial manner for placing Forex trades—using autotrading or employing the service of a human trader. Obviously, an automated trading situation can accommodate more trades per market than any human can cope with. Additionally, with autotrading, trades are placed in real time and a trader can replicate these actions across several timeframes and on more than one market. What’s more, robots are not subject to the emotional ups and downs of human traders.

    On the other hand, even the best Forex robot can be subject to scams and frauds. Traders do not always understand how the system works and this leaves them vulnerable to all sorts of broker rip-offs. It can lead not only to traders placing inappropriate trades but can result also in shrewd brokers closing up shop and absconding with clients’ funds. In addition, robots are not easy to set up and choices for customized trading strategies can be complicated for novice traders. If not fully understood, trading activity can go unmonitored and consequently lead to losses.

    The Best Forex Robots


    Choosing the best Forex robot is not always an easy task. There are hundreds of online brokers with each one touting to offer the best Forex robot software, the most outstanding platforms and the finest technical analysts. The most advantageous way to reach a decision is to speak to people who have used Forex robots for a while. Referrals from experienced traders go a long way in weeding out brokers who do not abide by industry regulation or who are not bona fide Forex brokers. Ongoing Forex traders are also privy to information concerning brokers who have not performed in the manner they promised or are rumored to have conducted business in an unacceptable manner. After all, the robot is only as good as the brokerage offering it.

    Likewise, there are literally hundreds of Forex robots that are offered not by brokers, but by individual traders looking to make a quick buck. While some of them may be profitable, there’s a higher chance with these robots that losses may occur. Make sure to verify the robot’s success before registering, and if possible, see if the company is registered or regulated anywhere. If these things aren’t available but the Forex robot still seems interesting, try asking for references or seeing if the company offers reliable testimonials. Without some sort of validating feature, your service of interest may not actually be the best Forex robot available.



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