Forex Profit Machine FPM

As you can all see currently in our Expert Advisor Forum we have over 1100+ various Topics filled with EA’s that promise the same thing (90% winning trade blah blah) Yet none of them meet their hype. So I am here today asking the community to share your success stories with everyone. Hopefully by the end of this topic we can come to a consensus of what EA can generate profitable returns.

Here are my results:

I have been Demo-Trading Forex profit machine (the original) for about 5 months and now and have just recently begun trading on a live account with AVA FX. Overall I am impressed with this EA as it generates steady profits if properly handled. The demo account started with an initial deposit of 10000$ and over the months gained a profit of around 8000$ (nearly double). As for my live account In the past month I have gained near 2000$ in profit (however for greed issues lost that amount ).

CONS: With every successful EA there are things that are undesirable. In FAP’s case it is the large draw downs and the lack of a stop loss. Both can become a major factor in losing money. However if the settings are correct you can be certain to make slow and steady profit over time.

This concludes my EA analysis. I’m hoping that we get a decent amount of contributions to allow the community to understand the rewards of certain EA’s.

Forex Profit Machine FPM

Forex Strategy Builder

Forex Strategy Builder is a visual forex strategy back tester. It uses combinations of technical indicators and logic rules to simulate a trading process with historical forex rates. An included automatic strategy generator enables you to compose a profitable strategy. An optimizer, an intraday scanner, a bar explorer and an interpolation methods comparator are included to improve the quality of your forex strategy development. Custom indicators, multicurrency strategies and out of sample testing capabilities are also included in this free forex software.

Reliable Backtesting

It is possible for a trading system to show excellent results in the historical test but fail badly on the real market. Some reasons could be faulty back test, over-optimization or tricky indicators. Forex Strategy Builder easily recognizes those pitfalls of testing trading systems. It notices all ambiguous bars in the back test and finds the average balance line between all possible market scenarios.
Most importantly Forex Strategy Builder allows novice traders to gain forex experience and learn how to use different logic rules and parameters without risking their savings. When you feel confident in your trading skills and your forex strategies you can apply them on the real market
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Main Goal

Our goal with Forex Strategy Builder is to provide a reliable free tool for testing trading strategies based on actual historical data. We want to incorporate the most common methods of technical analysis and great variety of technical indicators in just one program and yet keep it as simple as possible. In the last few years we've extended the list of indicators to almost 100 and we've added many useful tools for all forex traders
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Constant Improvement

The reason we have been developing so rapidly is that we receive constant feedback from the Forex Strategy Builder users whose suggestions have been used to direct all future development of the software.
The main reason we have been evolving so rapidly is that we receive constant feedback from the Forex Strategy Builder users whose suggestions have been directing the development of the software. The constant dialog with tens of thousands of users helps us to improve the program and make it even easier to use. So feel free to share your opinion and you might see your suggestions implemented in the future versions of Forex Strategy Builder
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Free Forex Software

Forex Strategy Builder is absolutely free. It is not necessary to pay money or to make any registration. You can start testing your trading strategies with historical market data right now

Add Commodity Currencies To Your Forex Trading Strategy

If you're new to the world of online forex trading, you may not be aware of just how closely related currencies and certain commodities are. Now you certainly don't need to trade commodities in addition to forex to become a good forex trader, but it does pay to follow select commodities, namely gold and crude oil. Crude oil and gold are the two most heavily traded commodities and they have the deepest impact on the forex market.

The most complete and comprehensive forex trading strategies include keeping an eye on commodities to put the trader in position to benefit from what are known as commodity currencies. These are currencies that have intimate correlations to the price of commodities and since the commodities market is every bit as volatile as forex, knowing about commodity currencies can prove quite profitable for your forex trading strategy.

With that in mind, let's take a look at what currencies you need to pay attention to to profit from price action in crude oil and gold. As far as crude oil goes, black gold is the most active of all commodities. Crude oil is denominated in U.S. Dollars and conventional wisdom holds that when the price of oil rises, the value of the Dollar falls. Unfortunately, profiting from rising crude oil prices isn't as simple as shorting the greenback. You also have to know what major currency stands to benefit the most from rising oil prices and that would be the Canadian Dollar.

Of all the countries that have a “major currency,” Canada is the only one that is a net exporter of crude oil. In fact, Canada is one of the largest oil exporters in the world. The world's two largest economies, the U.S. and Japan, get a fair bit of their oil from Canada. On a historical basis, the Canadian Dollar is 70%-80% correlated to the price of oil. This is actually an easy trade because the currency lags the commodity, so as oil moves up, you'll have some time to get long the Canadian Dollar. The pairs to trade are USD/CAD and JPY/CAD.

As we said, gold is another commodity forex need to watch and the commodity currency for gold is the Australian Dollar. Gold is also denominated in U.S. Dollars and that makes the AUD/USD the ideal pair to trade when gold prices rise. The Aussie Dollar's correlation to gold prices is roughly equivalent to that of the Canadian Dollar's ties to crude oil and again, the commodity will move before the currency, so you will get a signal to get long AUD/USD. Other pairs to consider would be JPY/AUD and GBP/AUD.

Another commodity currency, although it is kind of a stretch to call it that because it is tied to a particular commodity, is the New Zealand Dollar. The New Zealand Dollar is responsive to overall commodities demand so if you see a variety of commodities rising in price, go long NZD/USD. The bottom line is commodity currencies are a great pip-making strategy for all forex traders.

Information About Forex Trading Online

You must have heard about the advantage forex trading has over stock trading and might be interested in the same. Forex is the term by which trading of foreign currency is known as and it is a lucrative trade which offers better return than the stock markets and at the same time is far safer than stock trading. If you are interested in pursuing this career, you should know more about foreign exchange, how it works and where can you learn its rules.

To be successful in any trade, one needs to know its details and the same holds true for forex trading too. There are many such companies that offer tutorials about foreign exchange and quite a number of them have their presence online.

These tutorials will explain in details about how the forex markets work and the various types of orders that are available to the forex trader. These tutorials will explain in depth about the technical terms and their meaning. They will also guide you about the economic indicators you should be aware of along with the different strategies and options that exist for the forex trader. If you have never dabbled in forex training before, you should learn about it before you start trading with your hard earned money. There are many online companies that offer you stimulated training and demonstrations where you can get the hang of forex trading that bear a resemblance to real time forex trading but without involving any cash.

One can also avail of the forex training courses and the materials provided by such courses help you learn the tricks of the trade. The documentations provided by such courses can be used as a ready reckoner that you can refer to after you start forex training. Nothing helps like experience, hence do not worry if you make some mistakes initially, all of us do. At the onset, trade in small amounts of cash and when you are experienced and confident enough, you can increase your stakes. The pathway to success depends on hard work and keeping yourself updated on the latest trends and the same hold true for forex trading too.

Have faith in yourself and study the market carefully. Once you have been able to grasp the pulse of the market, you are well on your way to earning riches. Forex trading gives you an opportunity to earn much money but you should be aware that the risk of forex trading is also large. You can earn or lose hundreds, thousands, or even millions of dollar in minutes. With the right tools however you are on your way to make some serious cash with forex.

Silicon Forex Review

Forex Silicon is a Forex Robot, for those that don't know what a Forex Robot is, it is also called an Expert Advisor. These software programs sit on top of an existing MT4 Trading Account (Alpari, IBFX etc) and trade automatically for you based on complex algorithms. They pick when to buy and sell and set the "Take Profits" or "Stop Loss" points for you.

Using a Forex Robot takes a lot of the risk out of Trading Forex (although not all) and can be very useful for those just starting out with Forex Trading but equally are used by the most seasoned Forex Traders.

Forex Trading is so much more accessible than it once was. For years it was only traded by Banks and Large Financial Institutions, but now thanks to the Internet and Broadband it is possible for anyone, anywhere in the World to trade.

Forex Silicon works on mainly on the USD/EUR market which is a popular pair. It has several unique selling points which separate it from the rest. These can be summarised as:

Consistent Profits over a 4 year period - The video evidence is there for all to see.

Shorter "stop loss" point - Some Forex Robots will not stop loss until 200 PIPS are lost, this can be very costly and take a long time to recover

Instant Download - you can download the software immediately after buying and be installing into your MT4 Trading Platform in minutes.

Easy Setup - I followed the very clear picture instructions to install the software and was making my first trade within about 15 minutes of buying.

Instant Wins - Within hours of my first trade I finished the day with a $200 profit

Great Customer Service - dedicated customer support so every single tech and customer enquiry is addressed quickly

Forex Secrets Exposed

When you talk about Forex trading the type of Forex software you go for is quite important. The many companies out there are all trying to get you to trade with them and the correct software will help with the difficult task ahead. Most Forex software products offer live online trading platforms and many other amenities depending on the software itself.

Your Forex Software Needs to have a few essentials to in that should be standard amenities to the program. The most important aspect of the software you choose is in the security it provides you as you trade and enter your important personal information. It should offer at least 128 bit SSL encryption that will stop hackers from getting to any of your personal information to include your balance, history of transactions and account numbers.

You will also need round the clock technical support as trading in other countries does not stop when you go to sleep. If there is a problem, you need someone right away to help you so you do not loose a bundle in profits. You should be provided with daily backups of your information and a security system that is tight enough to keep unwanted visitors from accessing it. You might even find some that offer you fingerprint identification or smart card technology for their employees to enter these high security areas.

What type of time will the software be down each week? The software needs to be reliable and be ready for use 24 hours a day/7days a week. The technical support you receive should be fast and efficient. It should be safe but easy to use no matter what time of day or night it is being utilized. These features are what makes the Forex software you choose so important and helps make you successful in the Forex trading arena.

How to Invest in Forex

I am sure many other Forex investors, besides me, are pleased with the profits they are making investing in Forex. However, if you are you like me and are sick of paying 30-40% of your profits to your silent partner I have a solution. Just in case you haven't guessed it, I am referring to every Forex investor's silent partner Uncle Sam, who takes almost half of every hard earned Forex dollar we make. He doesn't even have to put up half of the money, doesn't have to stay up all night making trades, and doesn't cover any of our losses when we make a bad trade.

Many Americans don't realize that paying taxes to our government is the biggest expense we have during our lifetime. Many Americans will pay well over $1 million dollars in taxes over their lifetime. I realize you are now feeling depressed because I just reminded you how much you pay in taxes. The good news is there is a way to eliminate paying taxes on some of or even all of your Forex investments.

There is a very powerful wealth building tool available to Americans known as the IRA. You and I have the ability to use an IRA to invest in non-traditional investments like Foreign Currency. I know this sounds crazy, but it is absolutely true and legal. Most IRA companies only allow you to invest in traditional assets like stock, bonds, and mutual funds.

There are a few ways to fund your IRA account. You can rollover funds from an old 401k or Qualified plan, transfer an existing Traditional, SEP, Simple or Roth IRA, or you can just start a new IRA with a personal contribution if you don't currently have a retirement plan set up.

The set up process can take anywhere from a few days to a month. But once you have chosen the IRA the best meets your financial goals and you have set up and funded your IRA account you can begin investing in the Forex market.

what is Harmonice Trading ?

Harmonic Trading is a methodology that utilizes the recognition of specific price patterns and the alignment of exact Fibonacci ratios to determine highly probable reversal points in the financial markets. This methodology assumes that trading patterns or cycles, like many patterns and cycles in life, repeat themselves. The key is to identify these patterns, and to enter or to exit a position based upon a high degree of probability that the same historic price action will occur. Although these patterns are not 100% accurate, these situations have been historically proven. If these set-ups are identified correctly, it is possible to identify significant opportunities with a very limited risk.
One of the most comprehensive references to Harmonic Trading was outlined by J.M. Hurst in his cycles course from the early 1970s. His Principle of Harmonicity states: “The periods of neighboring waves in price action tend to be related by a small whole number.” (Hurst, J.M., J.M. Hurst Cycles Course, Greenville, S.C.: Traders Press, 1973.) The important concept to grasp is that price waves or distinct price moves are related to each other. Futhermore, price patterns that are quantified by the alignment of precise ratios manifest these relationships, and provide a means to determine where the turning points will occur.
When these turning points are identified correctly, trades are executed at a price level where the cycle is changing. Essentially, this type of trading is respecting the natural ebb and flow of buying and selling. In doing so, these trades are executed “in harmony” with the market. For example, when a stock is bought at this turning point, the majority of the selling that has driven the price down is very close to ending. Quite often, the harmonic techniques identify trades at or very close to the exact reversal point.
It is important to note that Harmonic Trading works on any time frame - intra-day, daily, weekly or monthly charts. I believe the clearest trade opportunities, or "set-ups," appear on daily charts for position or swing trades. However, hourly charts provide excellent set-ups for shorter-term or day trades. It is also amazing that these methods work on longer-term charts, as well. Weekly or monthly charts are excellent measures of historically critical areas in the financial markets.
The most important principle inherent within the Harmonic Trading approach is the ability to differentiate various types of cyclical price action that adheres to specific structural and ratio conditions. Price fluctuations represent cycles of growth (rally) and decline (sell-off). Similar to many of life’s cyclical growth processes, these movements can be quantified by their relative Fibonacci ratio relationships and analyzed to define unique technical situations. In doing so, trades are executed at those areas where the natural rhythm of the market is changing.