I’ve been looking for a reliable and automated forex trading software. I was pretty keen on forex tracer when I came across this review. is it accurate?
=> http://www.learn-forex-online.com/automated-forex-trading/

My guess is that it is fairly accurate. Of course, saying “Believe it or not, Forex Tracer produced over 94.90% profitable trades from July 2006 to May 2008… well, in backtesting anyway.” simply means it is possible to build a model which would have made a profit in the past if you base the system on the past data. It means nothing about how it will perform in the future.

Saying “This system has been getting good reviews on the Forex forums” simply means some people have written good reviews. We have no idea if those who wrote the good reviews profit for sales of the product, and the statement would be accurate even if there were ten times as many bad reviews as good reviews.

Saying “one major market movement against you can wipe out all your gains” is probably accurate but may be an understatement. What happens if a “major market movement against you” occurs before you have any gains? Obviously you can lose more than your previous gains, maybe even your entire investment.

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I don’t pretend to know much about the forex, but I do have some common sense. If automated trading software could consistently provide high returns there would be no reason the sell it. Those who owned the software could become super-rich just by using the software themselves. The fact that they pay to advertise the product, hire people to manufacture, package and ship the product, and that they have to deal with angry customers tells me that they are trying to get rich by selling the product because they have not figured out how to get rich tradng.

I have recently seen the promotion of Forex brotherhood.I am planning to invest in it,but scared is it worthwhile to invest in it.I mean do they live up to the hype and claims they are making?
And how they are differnet from other automated Forex Trading softwares.Can anyone please advice .Thanks

I never tested it myself because It’s too expensive. For the price they charge you need to have a big account if you expect to make a profit at the end of the month. I read good reviews about them at http://www.forextopten.com/forex-brotherhood-reviews.html but I won’t test them at this price.

Im interested in both long term investments and short term trading. First question-Which course should I learn? Im caught between Futures,Options,Forex,CFDs. I have attended countless free workshops regarding all the above instruments but have yet to settle on one. Second question-Is there a trading system which i can apply for all the instruments above? Third question-Does learning Technical Analysis allows me to trade successfully in all of the instruments above? If so, there's no need for me to go in depth mastering of the strategies involved for each individual instruments above as Technical Analysis have covered them? How about Fundamental Anaylsis for trading? Necessary?

Confused, Overwhelmed, Frustrated….

Hey Blurred,

Welcome to the deep end of the pool. I agree with you that the assortment of various investment vehicles is a bit overwhelming…the good news is that you can make money with any of them…..it would however be extremely difficult to master all of them. I guess the first advice I would give you is to pick the one that seems the most interesting and the most compatible with your risk level and investment style.

Once you have mastered one of the investment options you can always branch out and explore additional investment income streams. The other good news for you is that the skills you develop in technical and fundamental analysis is easily transferable to the other markets. Your immediate task at hand is to pick one market and block yourself out from being distracted by the late night TV commercials and the free workshops that seem to bombard us everyday. You need to become a "doer" instead of a "looker".

Over the past 30 years I have traded stocks, options, futures and forex. Over the past 4 years I have seemed to have discovered that my niche and my passion is in the Forex marketspace. I think that this is due to fact that the Forex market is the largest and most liquid market in the world with $2 trillion per day being traded. The market is open and active 24 hours a day, 6 1/2 days per week. I am also personally fascinated with international trade and geo-political activities.

I must admit that my current trading style might be considered extremely boring. I enter conservative, long term hedged positions and let them run for days, weeks or sometimes months. But the profits have been very nice!

I have an analysis of the daily results of 5 different Forex hedge trading strategies over the past 500 days if you would be interested.

Good luck!

Paul Upp
(925) 236-1839

i want to learn forex. it there any books/cd/dvd you can reccommend for me? something that would help me know when to trade and understand market movements etc… thanks

I would recommend http://www.freeforexebook.org and http://www.forextopten.com/forex-articles.html as free ebooks and articles.
Other books and courses of interest are http://www.superforexsystem.com/ and http://www.forextopten.com/commercialforextradingreviews.html
These 2 aren't free, but are the most complete courses I purchased in the past.