I heard and read about forex and wanted to know if these robots really help?. and if they do help, what is the best one out there?. Because I heard about a lot of them (forex killer, forex autopilot, fapturbo). So if you have any comments they would really help.

First, you should know that Forex is not that easy. Do not believe those who may say it is!
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 stocks. 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 stocks 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, this website has worked wonders for me: http://www.forexapt.com/ – forex auto pilot turbo. 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.

All the best!

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I am nearly 18, and I have a very strong interest in Forex trading. I have a practice account with FX Express and have discovered some interesting things and techniques that I’ve discovered myself on how to make money.

I’ve developed my own strategy that works everytime I trade so far, and I’m making 10% compounded everyday I place a trade. in fact I want it to be my career. I will open up a live account with real money as soon as I turn aged 18 with maybe a couple of hundred. The only problem is that my mum and step-dad say "You’ll never make a living out of it", or "You’ll lose all your money." What I’d like to know is if its actually possible to make a decent living out of Forex trading and do you or anyone you know currently do this as a day trader. I’d like to prove them wrong.

Yes, it’s possible, but not with a couple of hundred dollars of starting capital. Think about it, for many professional traders, having a 50% profit on the year is considered a good year. If you start of with $200, and make 50% profit, you would have $100 profit. Is $100 enough for you to live off of? Not unless you live in a cave.

However, if you start off with $100,000 capital, and make 50% profit for the year, then you would end up with $50,000. Is that enough to live off of? Probably yes.

Yes, I know $100,000 is a lot of money. But you can start up with $5,000 and work your way up. You are still young. I would get a job and start saving, and on the side, continue to trade and research using a micro account. (Notice how I didn’t say demo account because demo accounts success do not translate to real account success). Anyways, once you know you can be profitable with real money, then you wouldn’t hesitate as much to put in $5000, or $10,000 or whatever you have saved up in your account.

Lots of people make great living as day traders. But it takes time and patience to get there. Hope this helps.

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I have had a practice Forex account for a few months now and have been experimenting with it in terms of leverage in which I always use 1:25 now, and the currency pair I am familiar with; GBP/USD and have discovered that so far at least, and hopefully always, I keep on making 10%+ profit onto my capital every time I trade using my personal strategy I’ve developed.

I am going to be 18 in a few weeks time and I intend to put in a few hundred to open up a real Forex trading account, and what I’d like to know is if its possible that by always using the same currency pair, if I could become a millionaire all in good time if I keep on making consistent profits as such with the GBP/USD? Has anybody ever only traded 1 currency pair always, and made a million starting with little capital? Has this ever been done before, and is it possible to do?

The correct name of the trading pair is GBP/USD (in case others try to find USD/GBP).

Yes, you can trade just one pair and one pair alone is sufficient to trade. Actually, it is highly recommended to trade one or two pairs rather than several as you can focus much more on learning the personality of the pair.

It is great you are interested in investing at such a young age as you have the time to accumulate a large amount of money. Make sure to make regularly deposits into your account and with your strategy you can see the magic of compounding.

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Keen on knowing the basic points, tips and systems to get started (and move ahead) with online forex trading.

1. Open a demo account.
2. Practise on it for a month or two.
3. Get thoroughly acquainted with the platform, system and methods.
4. Try different demo acounts with forex companies online.
5. After you’ve trained with your demo account, move on to a real account for live trading.
6. Choose a good broker (eg InterbankFX) supporting the Meta Trader platform. Ask for one that offers a good leverage. It’s your key to profiting from the forex markets.

If you are looking for the best forex software, visit this site

http://the-best-forex-software-in-internet.blogspot.com/

This software is the best software that can help increase your trading profit and user friendly.

Best Wishes,

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While most books on trading deal with general concepts and shy away from specifics, “Forex Patterns and Probabilities” provides you with real-world strategies and a rare sense of clarity about the specific mechanics of currency trading. Leading trading educator Ed Ponsi will explain the driving forces in the currency markets and will provide strategies to enter, exit, and manage successful trades. Dozens of chart examples and explanations will guide you each step of the way and allow the reader to “look over the shoulder” of a professional trader hard at work at his craft.

This book provides traders with step-by-step methodologies that are based on real market tendencies. The strategies in this book are presented clearly and in detail, so that anyone who wishes to can learn how to trade like a professional. It is written in a style that is easy to understand, so that the reader can quickly learn and use the techniques provided.

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