hay every one, am trying to find out if this forex automoney currency trading is for real or what, need some good advise from some one who actually doing this or did this before . thankx
Yes Forex currency trading is real. It is the trading of money between different types of currency as the price of each fluctuates in hopes of making profit. It is only for serious investors and its NOT a get rich quick scheme. I have had experience trading in the Forex market for over 4 years now. You need to do your research before you jump in to anything.
When I first started, I knew little about trading so I purchased trading bots, or EAs (expert advisors), that automatically trade my accounts for me. With these I would closely monitor their actions which helped me become more aware of the signals and signs I needed to watch for while trading for myself. Forex trading is much different than trading in the stock market because signals in the stock market are more easily identifiable. In Forex there are so many different things that affect the price of a currency that it is nearly impossible to interpret. I have acheived most of my profits using various EAs throughout the years. I found that a good EA might only be profitable for about a year or less, after that I move on to a new one. Also, I usually use more than one EA at a time on different currencies; just make sure they don't interfere. You must be sure you are using quality EAs, because you could easily lose all your money with bad ones.
What I would recommend for all beginners is to open a mini account with a Forex brokerage (mini accounts usually have a $250 minimum), and use this account to practice and get a feel for things. I reccomend using MetaQuotes trading platform, it is free for download at metaquotes.net. As far as EAs go, there is no "best one" out there. I linked below to one of the EAs I am currently using that has been my most profitable for a few months now. The second link is to the 2008 Automated Trading Championship where you can see proof of how much money can be made trading Forex, it will also give you good leads for finding profitable EAs.
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