International Research Deck

How do I choose a forex trading system?

Friday, July 24th, 2009 | Forex | 7 Comments

I am new to the forex market and am looking for a good trading system that actually works. Can someone point me in the right direction please?

Forex market or Foreign Currency Exchange market is one of the biggest trading market in the world with over USD 1.3 Trillion traded in a day. It is drawing attention ever since it is open to Online trading. Forex trading can be very profitable if you take your time to do a proper research, understanding various options and choose a system that works for you. The most used Forex trading system may not be the most suitable for your needs.

There are many different kinds of Forex Trading Systems and you need to know a few facts as mentioned below, before choosing and funding a system.

1. Testimonials: Is there anyone out there who is trying to sell a system and show you testimonials from the people who actually didn’t like the system? Highly unlikely. You should do proper research before indulging into a system that is completely new to you.

2. Impression: Do not be over impressed from high percentage of winning forex trades because a 90-95% winning trades with with average value $10 gets you $900. If you have 10% losing trade and unfortunately average losing trade is $200, then your account is reduced by $2000. This is an explanation that people often tend to ignore while doing Forex Trading or any trading in general.

3. Profit: Do you want to work with a Forex Trading system that breaks even? Why? If you keep the money in your home, you will still break even, then why take all the hassles of setting up an Forex Trading account and do all the work. Really speaking, you should always do some research on how profitable a particular trading system is?

4. Drawdown: The maximum drawdown of trading system is defined as the greatest peak-to-valley drawdown in a trading system’s equity. Maximum drawdown gives us a measure of the survivability of the trading system.

5. Time to profit: The actual time it takes to achieve the results with a particular trading system. You should plan to have a long and profitable relationship with your trading system.

Try to use a trading system that let you open a Demo account so that you can practice and learn about Forex Trading without risking any money.

I have tried many of these systems in my quest to simplify my trading experience. I personally have found FreedomRocks to be the system that has worked for me. I have found no bad information on this system from anybody that has actually used it. I have found many skeptics and bashers but nothing from those that have actually tried at least the free trial they offer.

Below are a couple of links that may that I have found in my travels around the web:

http://www.yourforexinvestor.com

http://www.babypips.com

To your success,
Brandon Wells
bjwells@yourforexinvestor.com
877-773-5345

What is the best Forex robot on the market and does it work?

Friday, July 24th, 2009 | Forex | 22 Comments

I heard that a new robot has just been released (RCTPA driven Forex Megadroid). There are quite many robots on the market. What is a Forex robot anyway? Which one is working? I have heard many good things about Forex auto pilot turbo. I would like to know which one is the most reliable. Thank you.

First, you should know that Forex is not that easy. Do not believe those who may say it is!

Now, there are some good robots that MAY help you. Some are scam. Others are for real.

Simply put, a Forex robot is a program that attempts to take the guess work out of trading currencies. Currently there is a lot of information floating around the internet about these products. Like any other tool, it needs to be used properly in order to be most effective.

Like I hinted, in order to use this tool the right way you need to understand a little bit about how it works and where it is best applied.

A Forex robot is a computer or computer program that monitors currencies and does calculations to figure out the best time to buy and sell. These programs help to take some of the guess work out of buying and selling and can help a trader to identify currencies that meet certain criteria, or when certain currencies perform in certain a way. Most of the selling points of Forex robots state that you can simply set them and watch the cash come pouring in. While in some cases this may work, in most cases you are going to need to carefully monitor the program and make sure that it is adjusting to trends in the market. While they can be very profitable they may require a certain amount of intervention to be run effectively. Used properly, and if you have the patience to get to know the programs, they become a powerful tool.

For this automatic approach, forex auto pilot turbo has worked wonders for me: http://www.forexapt.com/. It offers, among other features, high spread protection system and automated risk scaling. They say "95% winner". Well, only the bottom line counts. In this regard, it has really delivered for me.

I had been watching the forex robot market for months, waiting for the right software to come out. I believe I have found a great one.

Really, get the fundamentals first. Then get your own system and test it offline (do that for weeks, if not months, until your system is well tested), whether you use a robot or not. It really takes a few months – a lot of patience and resilience. But if you are made for it, it is worth it. Read about the psychology of trading (never to underestimate). And then you should be fine.

Good trading!

Mark

How to get regularly latest finance news and other news of the world through mails?

Friday, July 24th, 2009 | Finance | 3 Comments

I want alerts regularly for latest finance buzz and news. I hardly get time for reading news on net. So I want latest finance new to be mailed me regularly, so when I check my mail box I can read latest finance and news too(Especially FINANCE NEWS). Please help me with this.

Well, there are a few ways that I can think of. I think one of the best would be to sign up for an online newsletter, one from a reputable financial publication like Kiplinger.

Other than that I believe that there are some online finance magazines that you can sign up for an RSS feed with. I know that isn’t the same as your mailbox but it still keeps you up to date.

Otherwise there are a number of financial magazines that you can look at online, usually the ones like Fotrune, and Money which is hosted by CNN, and I believe that they will give you an email update but you’d have to check their website.

One last thing, there is a pretty good ehow article that describes your options, some of which I already said, but it might be worth a look.

Here is the link:

http://www.ehow.com/how_4720609_online-finance-magazines.html

What is the best online stock trading service for beginners?

Friday, July 24th, 2009 | Finance | 9 Comments

I have no experience in stock trading.

None. If you are a beginner, you should not be trading stocks. Instead hold on to your money and ‘pretend’ to invest –

http://simulator.investopedia.com/

When you are confident that you can gamble really well, then go for it – but with a small percent of your money. Put the rest into index funds.

What is the best stock trading simulator software?

Friday, July 24th, 2009 | Finance | 2 Comments

I want a powerful stock trading software program that I can practice with that is the real deal (or as close to it as possible).

Hi Scott

There are several virtual trading platforms out there that will allow you to test out your trading strategies. They typically give you a set amount of "virtual money" to place pseudo trades with, using delayed stock market quotes.

Scottrade.com has a virtual trading platform you can use. Go to Scottrade.com>Trading Platforms> ScottradeELITE> See the Demo, or go to this url: http://www.scottradeelite.com/register.asp. Once you’ve registered, they start you out with $100,000 of virtual money. (The terms and conditions can be found on that same page.)

Good luck to you!
(p.s. I posted this information under your other question as well.)

Scottrade
www.scottrade.com
1-800-619-7283