I have an interest in trading forex as I’m quite good at it. I have tried out easy-forex but don’t like their spreads as they are too wide, I have been practicing using FX Club and have made as much as 500%+ return in a month, but I’m not sure. I have even tried practicing spread betting forex and have made as much as 400%+.

I want to know if there is a better forex broker out there that is a good forex broker that lets you take advantage of up to date news, charts and is easy to use, doesn’t have spreads and charges commisions only. Also one thast can be used by a UK resident. All help would be much appreciated thanks.

Dude stay away,

you can lose 80% in one day just as easily.

powered by Yahoo Answers

I’m looking for a course to actually learn trading myself. I’m not interested in robots or signal services. What I would really like is a course that teaches me to understand the markets and be able to trade off my own ability. Anyone had any experience or found a course like this that you’ve actually used yourself?

You may be interested in http://www.fxpmclub.com

It’s a forex course and mentoring at the same time, so it’s got the basic course materials that you can learn in your own time, just like most other courses out there, but you can also get training and help and advice from the trader who runs the site.

The course is all video based which is accessed from a members area, and the videos teach you everything from the basics all the way up to actual trading methods on live charts. I’ve been trading for about 2 years on and off, so I am by no means an expert or anything like that, but this has been the most useful site I have personally come across. The best part for me is the contact with James, who is the trader who runs the site. I’ve been able to talk with him directly on the phone whilst he walks me through real charts on my computer and answers my questions. So far I’ve had 3 phone calls with him. The course and videos on their own are far better than most things I’ve seen, but the personal tuition you get with this, makes this the best course I’ve ever taken in forex. I always learn better when I’ve got a teacher. I’m not sure if that’s what you’re after, but I’m sure you’ll find the video course on it’s own very useful if you’re starting out.

The course itself is teaching how to trade by reading price action without the use of lagging indicators, so it’s quite discretionary and can’t really be used as a mechanical system. James likes to teach how to adapt to and read the market instead of relying on buy and sell signals generated by indicators. He uses candlesticks and not bar charts.

There is a free option to try the course before you decide to join, so it’s definitely worth a look. You can access all the materials and contact James for help without making any payment, and if you don’t like it, you don’t have to worry about trying to get a refund. If you’re a sensible person and have realistic expectations about forex, I think this course could suit you very well.

Hope that helps.

powered by Yahoo Answers

Excuse me but I have a question about forex and the different robots; is it possible to be in more than one robot (for example the forex cobra system and the Forex no loss robot) at a time without having any problem? By having any problem I mean if its legal? And another question is if I can withdraw money from my winnings and if that money can eventually reach my hands, in some others words, is it possible to make real withdraw in forex robots?

Forex Robots are just automated scripts that run inside of your trading platform (the software used to place trades with your Forex broker.)

Most of the Forex Robots you see advertised on the internet are not actually standalone programs, they’re mostly just Expert Advisors (an add-on that places trades for you) for the popular MetaTrader 4 software (a platform used by the majority of retail Forex brokers, for better or worse.)

The robot definitely isn’t an account on its own. You’ll never actually deposit your money straight to the robot itself (if anyone is asking you to do that, it’s a scam.)

To use a robot, this is what generally happens:

1) After you buy the robot, the seller will probably send you a link to download it (or send it straight to your e-mail, but I doubt that.)

2) You open an account with a Forex broker. Please do your research and choose a regulated broker. (Many brokers have different software packages for you to trade with — but the most popular is MetaTrader 4 in the retail industry. Chances are your robot needs to be used with a broker that offers the MetaTrader 4 platform but there are a lot of choices for this category.

Just do a search for MT4 brokers or MetaTrader 4 brokers but be careful and make sure that the broker is regulated by a respected body like the NFA (for brokers in the US) or the FSA (for brokers in the UK.) Look around for real reviews (not sponsored ones) of MT4 brokers, but at least make sure they’re regulated.

3) After you open the account, you send your funds to the broker (not to your robot and definitely not to the person who sold you a robot.) If you opened an account with a UK broker, there are extra protections for your deposits but don’t take this to mean you can’t lose money (you still can if you don’t manage it well… or if your robot doesn’t manage it well, actually — and yes, that happens. A lot.)

4) You install the trading platform from your broker (usually a customized version of MetaTrader 4) and your robot would be installed in it. You then enable live trading for the robot to allow it to trade your account.

I’m sure the robot vendor will give you all these instructions (or different ones if the robot is something other than an MT4 expert advisor… although that’s very rare in retail) but I’ve outlined this so you can get a better understanding of what you’re dealing with. In other words, the robot itself doesn’t accept funds (or at least shouldn’t)

On a side note, I would recommend you learn a little more about the Forex market before you dive into this. I know all the internet marketers make it look like a pot of gold to you, but you’re better off saving that money for now and learning to trade in a demo account first. Once you get the hang of it (or at least once you get to understand how the market works, and learn how leverage and margin actually works) then consider the robot.

Be smart. Don’t risk your money on a robot that’ll trade something you don’t fully understand.

As for legalities, yes, it’s entirely legal to trade with automated systems. It’s done very often on Wall Street and in London, actually (the world’s largest financial centers that dominate the Forex market)… of course, the ones they use that actually work profitably for them definitely won’t be sold on the internet by a flashy web site

Try to learn more about the market first and then make an informed decision. There’s no rush — this market will still be here (and even if it isn’t by some miracle of global politics, another one will take its place.)

powered by Yahoo Answers