Sunday, April 22, 2018
Friday, August 13, 2010
WITH FOREX TRADE ROBOT I WOULD NOT HAVE WASTED $45,000
Yes you read me right. I squandered $45,000 while trying to trade forex. But it was to my own advantage because I used the losses to learn how not to trade forex. I discovered what to avoid and what not to. I learnt through personal experience.
Experience when properly gained is a good teacher. However, I realized later that had I engaged a forex trading robot,it would not have been that much.
The money I squandered was not mine. It belonged to someone else. I was made to understand that I only had to use it to learn how to trade forex online and generate more money for the owners while trading.
To Make Money with Paid Surveys Click Here
I did not squander the money in trading online forex because I was not entitled to withdraw from it. I did so because I could not control my emotions.
If you must understand one thing about forex trading, it is simply the fact that seventy percent of what happens while you are trading forex is pure psychological.
Your emotions control almost all your actions. This is basically why many people find it difficult to make profit in online forex trade. They are so much in a hurry to make money that they fail to apply their sense of judgment correctly while trading.
They throw caution to the wind. Any trade that shows a little positive sign, without checking what the multiple indicators are saying about it, they take the trade.
Even when the trade is going against them, they hope and pray that it will reverse. Unfortunately, this may go on until it becomes a bad trade and they lose their deposit.
So that was what it looked like at the onset of my trading two years ago. That was how I blew up that amount of money, $45,000. It was an installment kind of thing, you know.
THIS IS WHAT ACTUALLY HAPPENED
I had opened one demo trading account after the other. The highest had $15,000 while the lowest had $5,000 virtual money. I started trading and was taking the trade step by step.
I was making profits but something was going wrong in my trades. I did not have a clue about what to do to get out of the impending doom. I was losing money though I was still making profits.
As soon as one demo account runs out of funds, I opened another one. Let me tell you why I was losing money. I refused to apply stop loss on my trades. I was very greedy. I was so obsessed with profit taking that I did not place stop loss on my trades.
A Forex Trading Robot would never have deviated from fixing its programmed trading stop losses as well as take profits since it never suffers from human emotions.
Experience when properly gained is a good teacher. However, I realized later that had I engaged a forex trading robot,it would not have been that much.
The money I squandered was not mine. It belonged to someone else. I was made to understand that I only had to use it to learn how to trade forex online and generate more money for the owners while trading.
To Make Money with Paid Surveys Click Here
I did not squander the money in trading online forex because I was not entitled to withdraw from it. I did so because I could not control my emotions.
If you must understand one thing about forex trading, it is simply the fact that seventy percent of what happens while you are trading forex is pure psychological.
Your emotions control almost all your actions. This is basically why many people find it difficult to make profit in online forex trade. They are so much in a hurry to make money that they fail to apply their sense of judgment correctly while trading.
They throw caution to the wind. Any trade that shows a little positive sign, without checking what the multiple indicators are saying about it, they take the trade.
Even when the trade is going against them, they hope and pray that it will reverse. Unfortunately, this may go on until it becomes a bad trade and they lose their deposit.
So that was what it looked like at the onset of my trading two years ago. That was how I blew up that amount of money, $45,000. It was an installment kind of thing, you know.
THIS IS WHAT ACTUALLY HAPPENED
I had opened one demo trading account after the other. The highest had $15,000 while the lowest had $5,000 virtual money. I started trading and was taking the trade step by step.
I was making profits but something was going wrong in my trades. I did not have a clue about what to do to get out of the impending doom. I was losing money though I was still making profits.
As soon as one demo account runs out of funds, I opened another one. Let me tell you why I was losing money. I refused to apply stop loss on my trades. I was very greedy. I was so obsessed with profit taking that I did not place stop loss on my trades.
A Forex Trading Robot would never have deviated from fixing its programmed trading stop losses as well as take profits since it never suffers from human emotions.
Monday, June 21, 2010
HOW TO TRADE FOREX WITH DIFFERENT TYPES OF ROBOTS
Trading Forex With Different Types Of Robots
I have been in the Online Forex Trade business for more than two years. I must confess that I have had varied and interesting experiences. Looking back now I will say that it has been a mixture of fear, fun, losses and gains.
I will keep the story of my foray into forex trading on the internet for another day.
-->I have been in the Online Forex Trade business for more than two years. I must confess that I have had varied and interesting experiences. Looking back now I will say that it has been a mixture of fear, fun, losses and gains.
I will keep the story of my foray into forex trading on the internet for another day.
I want to share with you some of the most secret and important things you must know and I want you to consider them if you want to trade forex with EXPERT ADVISORS otherwise called ROBOTS.
Forex trading is one internet business that has addictive tendency. It is like educated gambling because you must go through serious and thorough training to be able to settle down and trade successfully.
That is where the problem of forex trade begins. Many people do not have the patience, skill and the ability to track trades, read about events which influence the buying and selling of foreign currency online.
I know many internet information marketing gurus that will only touch online forex trading with a very long stick. I am sure you understand the meaning of this statement.
Tell these gurus that you are a forex trader, and without looking back they will wave you bye and o.k. Yet some of us have become addicted to it. If you want to learn how to trade forex and be successful in it, Click Here!.
TRADING WITH ROBOTS
If you cannot have the time and patience to concentrate and learn, then I will advise you to trade with forex robot. It may be slow and takes time to earn plenty profit, but remember the adage which states that slow and steady wins the race.
It all depends on how much money you are ready to invest in the trade. The more your capital bases the more the profit.
The 2 Categories of Robots
I see two basic categories of robots.
[1] The Hands free robots
[2] The Manual type of robots
[1] As the name implies, the hands free robot is the set up and forget type. It does not require any adjustment or help from you to trade. It runs on its own. All you need to is to check your trade regularly to see how it is faring. To get more information about this type of robot Click Here!.
[2] The second type of robot is the semi hands free type. Here, the robot will alert you when a trade set up is beginning. It will provide you with the parameters of the trade, when to enter the trade, where to take profit and where to stop loss.
You have to fix these values at the appropriate places, and the trade will run on its own then.
To get more information about this type of robot,Click Here!.
Advantage of the Semi Hands free Robot
Some semi hands free robot have advantage over the totally hands free ones. Though some people may disagree, the truth is that you have a choice to set up and go as well here.
When the signal is generated you place both buy and sell with stop losses and take profit for both. In that case you make gain either way. Since your stop loss- to- take profit must be in the ratio of 1: 3, your losses cannot be more than your gain. Can you beat that?
In all these examples, it is advisable to test the functionality, and profitability of the robots by using them on demo trading account for 1-3 months to see how much returns in profits or losses it will bring.
WARNING
Forex Trading has very large potential rewards, but also large potential risk.You must be aware of the risks and be willing to accept them in order to invest in the forex market. Do not trade with money you cannot afford to lose. There is no guarantee that you will achieve profits or losses similar to those discussed in this blog. How much profit you make depend on you and how you trade. The past performance of any system or methodology is not necessarily indicative of future results.
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