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Forex Trading Robot Reviews – Why They Are Not the Answer

With everybody looking for forex trading robot reviews, nobody ever seems to question the validity of these trading tools. People love the concept of having your trading done automatically. After all who wouldn’t? But sadly most people never look at how many traders have lost money using these systems.

Trading Robots Have Crashed More Accounts Than Traders

I can understand why forex trading robots would be so appealing to the mass audience, because it takes the pressure off them, and puts it all onto this automated trading software, which has absolutely no insight to the market.

So, what happens is, that most traders let these robots handle all aspects of their trading such as money management, risk, entries, exits, etc… and I’m sure you could imagine what the consequences are.

There Is No Such Thing As Trading On Autopilot

It simply does not exist (at least not successfully). The markets are a living, breathing thing that actually require analysis from the trader. It can’t be outsourced to some inanimate object and expect it to go well. You are going to have to get your hands dirty yourself, if you plan on becoming a successful trader. There is no getting around it.

But the good news is that trading forex doesn’t have to be as complicated as you may think it is. Sure, it requires some studying and learning, but if you want to become a successful trader, isn’t that really the least you can do? Remember forex success can’t be done for you. You are going to have to do it yourself.

Forex Trading Method – A Simple Strategy to Help You Catch The Big Profitable Trends

Here we will outline a simple Forex trading method which can make you big profits in around 30 minutes a day and it’s proven to get you in on all the biggest trends and profits. If you want a simple trading methodology, you can apply to make triple digit gains this method is for you.

Currencies move for sustained periods of time in the same direction and these trends can be seen on any chart and can last for many weeks. These trends ALL begin in the same way – the price breaks overhead chart resistance and then accelerates higher and a new trend is in motion. As the trend unfolds, brief dips occur and then, prices accelerate and break through resistance again and this continues several times in major trends.

Breakout trading is a great way to make money trading Forex and professional traders use this method all the time but most other traders don’t – so why to do so many traders ignore this method when it’s obvious it makes profits?

Most new traders want to buy the low of the currency pair they are watching but breakout trading means you miss the start of the move. This doesn’t matter though, because by trading the breakout you have the odds firmly in your favour and good profits ahead so missing a little bit of profit doesn’t matter.

Losing traders know prices are going to go higher when a break occurs but make the fatal mistake of – waiting for a dip in price so they can get in at the low. Prices on good breakouts quickly accelerate away from the breakout point WITHOUT pulling back. You cannot predict the low of any market so there is no point in trying to catch it. The good news is if a breakout occurs, you may have missed a small portion of the trade but you have weeks of profit in front of you.

When looking for breakouts to trade you need to be patient and look for resistance levels which have been tested several times and then you need to wait for the level to give way to execute your trading signal. The minimum number you should consider is 4 and as a general rule – the higher the number of tests before the break the better the odds of the breakout being a good one when it comes.

When a breakout comes, go with the break and tuck you stop under the level which has given way. You have close stop loss protection if your wrong but if the trade goes your way, you profit potential is huge.

Breakout trading is one of the best ways to make profits when trading Forex, you will get a few good breakouts each month and if you catch and hold them, you can make a triple digit income in around 30 minutes a day.

Forex Megadroid is a trading robot created by Albert Perrie and John Grace, 40-year veterans of the Forex market. This EA, the first to utilize the innovative “Reverse Correlated Time and Price Analysis” (RCTPA) system, incorporates their combined knowledge tempered with decades of firsthand trading experience. This is a robot that does more than buy and sell: it understands how the market works, and it parlays that understanding into profit.

As with any software purchase, you should make sure you buy from a reputable vendor. There are three things that you should look for in a vendor, and here is how Forex Megadroid stacks up in each category:

- Customizability. There is a learning curve involved with using any EA; you need to be able to customize your robot to trade using your preferred strategy. With Megadroid, however, most of its flexibility is under the hood: the software is intelligent enough to make its own tweaks as market conditions change, taking most of the guesswork out of your hands.

- Service. Voicemail or a prerecorded sales pitch does not constitute customer service. Before you give your money to anyone, you should make sure you’re able to talk to a live representative on the vendor’s end in case you have any questions or issues. If you buy directly from the creators of Forex Megadroid, they have decent customer service. They respond to emails within 2 business days; this might seem slow to some, but this means you an expect a personalized, relevant response and not a generic copy-and-paste reply. There are also affiliate sites you can purchase the software from that offer 24/7 Skype support with your purchase.

- Money-Back Guarantee. If the vendor’s site doesn’t specifically mention that you are entitled to a refund of the entire purchase price if you are not satisfied with the product, then you’re looking at a scam. Forex Megadroid guarantees a full refund within 60 days.

Forex Megadroid excels on all fronts. It’s only been on the market for a few months, but this is an EA that shows great promise. If you’re interested, please read below to learn more about this robot and how to use it most effectively.

The term “Forex” is actually a short or abbreviated term for foreign exchange market. The foreign exchange market is really nothing more than a currency market where currencies are traded. The activity of the trading is not centralized like the major stock exchanges, but is decentralized around the world. These markets are always open for trading except on the weekends. Financial centers around the world function as anchors of trading between a wide range of different types of buyers and sellers around the clock, with the exception of weekends. It is these markets that determine the values of different currencies from all around the world.

The original intent of the Forex Markets was to promote international trade. The markets were used for large corporations and banks to convert the different types of currencies they were dealing. Needless to say investment banks, hedge funds, and private investors soon rolled in and started to trade the currencies as well. Today, Forex trading has now become very big business for investment for average individuals. They just do not know it yet. Lots of mutual funds deal in the Forex market to help hedge their positions.

When it comes to investing for an individual though, most tend to shy away from this market. They think it is too complex and hard to understand. As a result, they tend to stay solely in the major stock markets and never venture far from them. To be a successful investor though in today’s markets, one needs to be able to pull out several different methods and trading techniques. To really be successful one needs to be able to not only trade stocks, but also options, bonds, and Forex currency. Of course there is a learning curve like any complex subject, but with a little hard work it can be mastered. Only when a person has all these tools can they truly comprehend the word investing.

Much like all individual investors though, there is not enough time to do all the research for each type of trading. Due to this, lots of people tend to looking into newsletters, investment letters and software programs to help them manage the flow of information and even execute trades. When one is comfortable with the Forex part, one great program to help manage the trade is Forex Megadroid program. This program is great in that it helps make decisions for you once it identifies certain criteria that have been preset in the software. Of course you must understand Forex trading before you just dive in. Once you master that though, the Megadroid package and other investment packages can help act quickly and make decisions not based upon emotion but on tried and true technical aspects.

Forex Profit Multiplier is an advanced course for currency traders. It was developed by Bill Poulos who is a well known trading expert who has over 30 years of active trading experience and has been teaching other traders to become successful in the market for the past 10 years.

This is a home study course which includes a variety of multi-media resources:

- Video training CD-ROMs which teach 3 different trading methods for various market conditions. Each of the trading methods is explained in detail, complete with numerous trading examples on a variety of currency pairs. The methods are complete with clear setup, entry and exit guidelines. The guidelines focus on creating high probability trades with an emphasis on minimizing risk and securing a good profit from the trades you perform.

- Video training for money management to make sure you’re never exposed to too much risk.

- Video training covering the basics of the forex market. This training is provided to make sure that even new and inexperienced traders can use the Forex Profit Multiplier methods.

- Written material with trading charts, a complete manual, and trading blueprints.

The course also comes with a unique trading software. This software automatically identifies when the correct setup conditions occur and alerts you when it happens. Trade alerts can come in 3 forms: email, SMS, and RSS. You can follow these alerts and place the trades as they direct you to do with little hassle and trouble.

In addition, there will also be weekly training sessions with Bill Poulos and his team to deepen your understanding of the market and help you with any issues that arise from the course. Naturally, you also have full time support for any questions that you might have.

Forex Profit Multiplier is a complete course that can deliver excellent results for you. The only real downside is that this course is far from cheap.Some may consider this to be an advantage in disguise as it will limit the number of traders who will use this course and create bigger advantage for them. However, you do need to be able to afford the course.

As the testimonials of students of Bill Poulos show, his teachings make this course worth the price and the earning potential in Forex is such that you can make the price of the course many times over. Naturally, this depends on how well you work with the course and how you study it.

Forex Profit Multiplier can turn you into a more profitable and independent trader. The only question is whether you will make the time to study it and put it to good use.

Many novice traders get caught up with looking at 1hr charts or lower because they think they are going to become rich “day traders”. The statistics on consistently profitable traders all point to one thing; they trade using larger time frames. By larger time frames I am referring to preferably daily, weekly, or monthly time frames. You can implement a 4hr chart into your trading, however you really should develop a trading strategy that only uses daily and weekly charts when first starting out.

The power of higher time frames lies in their ability to give you the most meaningful view of the market as well as their ability to act as a filter. Much of the movement that occurs in the market is just random noise that does not really tell you anything meaningful. This noise phenomenon gets amplified as you move down in time frame. For example, a monthly chart has less noise than a weekly, a weekly less than a daily, a daily less than a 4hr, and a 4hr less than a 1hr. It is the opinion of most successful traders that any chart less than a 1hr chart is essentially going to hurt your trading much more than help it and is essentially useless.

Beginning traders especially need to be concentrating on daily and weekly charts. You can consistently profit off of daily and weekly charts alone. I personally use daily and weekly charts for the majority of my trading decisions, occasionally I will use a 4hr or 1hr chart, more on that later. The problem with trading is that you have to set your own rules and it really is a world where you can do an unlimited amount of damage to yourself, or an unlimited amount of good. By focusing on daily and weekly charts especially in the beginning of your trading career, you will be providing yourself with a learning opportunity into the intricacies of market movement and what works and what does not work.

No matter what your trading strategy is, when you get an entry signal in the market the higher the time frame it occurs on the more reliable the signal will be. A weekly or daily signal is significantly more reliable than a 4hr or 1hr signal, and as stated before once you go below a 1hr time frame you might as well just be flipping a coin for your trading decisions. Once you gain experience as to what works and what doesn’t work and you develop a trading plan with specific entry and exit rules based on daily and weekly charts, then you can look at 4hr charts or even 1hr charts to fine tune you entry or exit. However, that being said, it is entirely possible to only look at daily charts or above and consistently profit in the markets. Taking that route will probably also be much less stressful and also allows people with full-time jobs to trade after work and not worry about the minute to minute market fluctuations.

In closing, beginning traders need only concern themselves with daily chart time frames and higher. If you can profit consistently off of these higher time frame charts in the Forex market, than you are well on your way to becoming a professional trader. However, I can not reiterate enough, that once you drop below a daily chart your entry and exit signals lose a significant amount of reliability.

Once you’ve identified a trading opportunity, the next step is to decide EXACTLY when to buy – and this is where many traders go wrong.

Here we explain how to incorporate better market timing into your FOREX strategy – so that you can make bigger profits.

Most traders time their entry levels incorrectly, so here’s the right way to do it:

Using Support and Resistance Correctly

A basic wisdom of market timing is “buy low, sell high” – well, the reality is, if you try this in FOREX trading, you’ll end up losing money. First, let’s define what support and resistance means

A support level is a historical price that traders come in, and buy to “support the market” – and the more times it’s tested, the more valid the support will be.

Conversely, a resistance level is a level on the charts that “resisted prices from moving higher”- again the more times it’s tested, the more significant it becomes.

Why Buy Low and Sell High doesn’t Work

“Buy low, sell high” is accepted wisdom by the majority of traders – but this logic is fundamentally flawed – use it in FOREX trading, and you’re asking for trouble. Why? – If you wait for a pullback, you’re going to miss some of the biggest moves.

Think about it – what if a currency starts to trend and doesn’t pullback? (How often have you seen this?) If you’re waiting for a pullback that never comes, you’ll never get in on the trade – and you’ll miss a major opportunity.

You Need to Feel Uncomfortable

When Trading in the FOREX market, you should usually feel uncomfortable (and that’s why most traders don’t make these trades) – as no one likes to buy or sell after the market has started trending – but doing this will make you money.

The fact is, the more comfortable you feel when entering a trade at support, the less likely the trade will be a big winner.

During any given year, most of the big moves in currencies, take place from new MARKET HIGHS with NO pullback.

If you base your FOREX Trading strategy around waiting for a warm comfy entry, at key support, you’re going to miss the biggest and most profitable trades – so step away from the losing majority of traders.

Your FOREX trading strategy should give you a different mindset – most traders “buy low and sell high” – so you should “buy high and sell higher” – i.e. you should be doing the opposite of what the crowd are doing.

Don’t worry – most traders lose money, and their FOREX Trading strategy is based on the flawed logic we have just discussed – so not doing what they do makes total sense. Therefore, look for breakouts through support and resistance – and sell and buy respectively.

Its Tough Mentally – But it Makes Money!

Sure, it’s hard to do – the majority don’t agree with you – and no one likes to go against the majority. However, it’s the right thing to do, to make your FOREX trading successful. Think about what we’ve just said, and you’ll see it makes logical sense.

Has this Happened to You?

How many times do traders buy into support, and the market breaks support, stops them out and continues to decline. On the other hand, another common scenario is, price never get to support – it simply goes higher – and the trader misses the chance to get in on the trend.

This type of trading is tough mentally – that’s why 90% of traders don’t do it – they want to be comfortable – well being comfortable is great, but you’ll lose money.

Breakouts work, and if you use them in your FOREX Trading strategy, you won’t be comfortable on entry – but you’ll make money – and that will more than compensate.

The way to succeed in FOREX trading is to do what the losing majority don’t do – then you can join the elite 10% of traders who make the big profits – try it and see!

Forex Income Engine is a course about Forex day trading. It was created by veteran trader and Forex educator, Bill Poulos, who is known for his in depth and exclusive investment training courses. This is the first time Bill Poulos tackled the Forex day trading field. So, does Forex Income Engine work? Is this a system you’d do well to use?

Forex day trading is a tricky business. You can make a great deal of money by taking advantage of even minor fluctuations in currency prices, but you can also lose a lot if you’re ignorant of how the market works, or you’re just trading blindly by your gut.

The truth is that most traders play the market according to their feelings and not through any logical process. That’s the primary reason why most of them lose money. The key is to have a trading system which you can use time and time again, something simple which doesn’t require a lot of time, is easy to use, and enhances your profit probability so that you can increase your profits by tens of thousands of dollars over time.

 I believe that Forex Income Engine is such a system for the following reasons:

1. It is easy to learn – The entire system is taught through detailed video tutorials. I had the privilege of seeing them before this course was even made public, and the quality of production is excellent. Everything is covered from the ground up so even new traders can use this.

2. It’s a complete trading system – This means that you’ll be able to make trading decisions in any market condition you come across. The system tells you where to enter the market, where to set exit points, and how to manage your trades. And it takes just 20 minutes each day to work with.

3. The system includes a risk management module which in itself is something that is worth thousands of dollars over the life time of a trader. By knowing how to manage risks, you’re actually creating your own version of the Forex Income Engine trading system, tailor made for your own financial status.

4. The level of support which Bill Poulos provides his students with is outstanding. This isn’t some take it and leave it Forex course, but an exclusive club of serious traders who each get access to Bill Poulos’s expertise and knowledge. The support system allows you to ask any questions and even provides continuous trading training in the future.

Overall, I believe that this is a course which fits any trader who wishes to increase his Forex day trading profits.

Forex trading is a big market, that is true, and it is constantly expanding with more and more people getting into it. Of course, the point of joining is to make money and as such, there are systems or softwares which would let you trade without having to be in front of the computer the entire time. Sounds great, right? I’m sure many of you would want to take advantage of such a great innovation as it would mean more time for yourself, your family and friends all the while you are still continuously earning money. But ask yourself this question, how effective are these Forex systems? So you’ve read a bunch of Forex auto trader reviews, but are you sure that they are true?

The thing with a Forex auto trader review is that they would tell you what the software can and can’t do, how it would help you to be more profitable and how easy it is to use. But before you jump into the bandwagon of that certain autotrader’s bandwagon of clients, ponder this for a moment. Did you know that the most effective Forex systems are the ones that are customized to your needs? This is because not all systems are built and nor do they work the exact same way. Thus, they vary just like the traders themselves. Point is, what works for your neighbor might not necessarily work wonders for you as well.

So here’s a simple questionnaire that might help you find that perfect Forex system for yourself.

1. Can you operate the software well? These systems aren’t complicated at all to use but of course for it to function efficiently you must know how to operate them. So try it using a demo run before you use it for actual trading. Remember that just like your shoes, comfort is key and the more at ease you are with a software, the better it will be.

2. How much do you trade? How much money you can make off the Forex trading market, depends upon how much you actually trade. So don’t expect to make a million dollars with your $1000 input. The bigger you put in, the higher the risk and as such, if you trade “big time” you should choose a software that can handle the amount of money you trade each and every time. Some softwares were built for small time trading so be wary of those.

3. How well do you know the Forex market? Autotraders are fun, helpful tools but they won’t be of much use if you don’t actually know how the market works. Basically, the more you know about the market’s ins and outs, the better your chances are at succeeding and being profitable. Top that off with the use of an autotrader and you might just be on your way to the top.

So there you have it folks. Though this isn’t your typical Forex Autotrader Review by any means, I hope this helped you a bit with choosing a Forex system that is suited to your needs. There might not be any perfect or proven formula for success in the Forex market but there is, however, a “right one” to help you be a more efficient, successful and profitable trader.

Event Forex Robot Turned $10K Initial Deposit Into $13M in 8 Years!

Every few days, a new Forex robot is being released. You can find a lot of Forex robots in the market now. Some are good, some are bad and some are real good. It seems that automated trading has become the latest fad amongst the Forex trading community. The most obvious reason is simple. Automated trading gives you the chance to make a lot of money without having to spend all day infront of the computer. You just need to learn MQL4 programming in order to write a good robot program. The robot porgram will do just as you had programmed it and if you have programmed it well, it can make you a lot of money.

But the problem is most of the Forex traders have no idea how to write programs in MQL4 language. Writing programs is not an easy thing. It takes a lot of training and learning only then you will be able to write a good program in MQL4. So, in order to bridge this gap a fx robot vendor industry has developed. Fx robot vendors search for good trading systems. When they find one, they contact good programmers, either hire them or pay them to convert that trading system into an automated system.

Forex robot vendor industry is so hot right now that every few days, you are going to find a new Forex robot being launched in the market. Now, most of these robots are just simple pieces of junk software that have been written by programmers having no inkling of how to trade Forex. So, how do you know this is a good robot and this is a bad robot.

Most of the time, fx robot vendors talk about the backtest and the forward test as a proof that their robot is good. Backtesting is done with historical data. Historical data relates to the past markets. So, what happened in the past may not work now in the current market. In addition to this limitation of a backtest, a back test ignores slippage that is ever present under live market trading conditions. What this means is that a backtest is no guarantee that the robot is going to work under the live market conditions.

The same thing goes with the forward test. Whatever, to tell you the truth, there is no substitute for live trading results. So, if a Forex robot vendor is unable to show any live trading results on their website, it means that this robot has been never tested on a real money live trading account. It is a raw piece of software that may or may not work.

However, if the Forex robot vendor is able to show live trading results on the website, this means that the robot has been tested under the live market conditions. You should pay close attention to the live trading account statements and see how well it has been performing under the live market condition.

Event Forex Robot is one such robot that has been trading live for the last 9 years. Yes, 9 full years. The developer of this robot Mark Roth is going to release it soon. He will also release the full details of the full 9 years of Real Money Live Trading Account Statements. This is an astounding piece of software. Event Forex Robot turned $10K into $13M in 8 consecutive years without ever getting a single margin call. This robot made an astounding $65,862 from just one trade. It made 14 consecutive winning trades and so on and so forth.

The developer of this Event Forex Robot will let you test it RISK FREE for 60 days. This is a good opportunity for you to test a good Forex robot on your demo account. As always, never trade with a Forex robot straight away. First test it thoroughly on your demo account and only trade live when you are satisfied with it’s performance on the demo. By testing, you come to know a lot about the Forex robot and it’s performance.