Choosing the Best Auto Trading Forex Program

Over 30% of all forex traders outsource some or all of their trading work to an auto trading forex program. This technology's been getting increasingly more sophisticated and able to trade effectively for anyone who uses it up to the full 24 schedule the market. As such, many inexperienced and starting out traders have been using this technology to make the kind of money that they want from the forex market without having to sacrifice the time.

There are dozens and dozens of different auto trading forex programs on the market today, so this is a guide to picking and choosing the best one to suit your needs.

First, you should decide if you want a full auto trading forex program or a trend indicator. Trend indicators are like stock pickers for the currency exchange and find soon to be well performing currency pairs. Accordingly they are recommended primarily for more experienced traders with the experience of trading in the past.

Conversely, an auto trading forex program will place and end trades for you as I briefly mentioned in opening. These programs are better matches for less experienced traders and those without time to even enact trades.

It's also a good idea to get a more conservative auto trading forex program as these boast the greatest success rates of all the automated traders. They only go after trends which display lower risk tendencies and if a currency pair is showing too much risk, it will abstain from trading altogether if it can't find any worthwhile trading opportunities. Again, the main point to take away is that these programs carry the best winning rates.

Also good idea to consult review sites as these can help to give you insights on the differences between these programs.

Forex Robot the Best in the Market

In recent years, forex trading has seen revolutionary developments. Opening up of the forex market to the retail investors has been a revolutionary change. Previously forex trading was the domain of big players like the banks, multinational corporations, institutional investors and the hedge funds. But the development of the retail forex market has totally changed everything. Now any small investors from anywhere in the world can trade forex online. There are so many options available to a retail investor now! A retail investor can open a standard account, a mini account and even a micro account with a host of other options.

Another development that has revolutionized the forex market is the introduction of a forex robot also known as an Expert Advisor (EA). Previously these type of automated trading systems were very expensive. Only big players could afford them. But in recent years, a number of very good forex robots have hit the market and many are priced in the range of $100-$300 making them affordable to ordinary investors. Forex trading via these automated robots has become very popular in the forex industry in the past few years! There are now hundreds of robots flooding the market.

So what is a forex robot. A robot in simple terms is a computer programme that you install on your MetaTrader platform. This software monitors the market constantly, opening and closing the trades when the conditions are right. This makes trading almost automatic. Installing a robot is very easy. It does not take more than 10-15 minutes. Once you have done it, it is all set to start trading automatically.

You can test the performance of a robot on your demo account. Most of these EAs come with a 60 days money back guarantee. This makes everything risk free for you. Almost every month a new forex robot is being introduced to the market. This show that forex robot development has become a serious business. Which is the best forex robot in the market?

The Best Forex Robot

The best forex robot in the market right now is FAP Turbo. FAP turbo has been giving a good performance since it was launched in the last months of 2008. It is being updated every month by its developers to keep it in line with the changing underlying market conditions.

Second EA that is equally good is Ivy Bot. As the name suggests, it has been developed by former students of Ivy League Universities. The third robot that has been giving good performance since its launch in April 2009, is Forex MegaDroid. It uses a revolutionary new technology known as RCTPA. RCTPA allows this EA to see ahead the market conditions in the next few hours and change accordingly.

Last month a new EA known as Forex Rebellion hit the market. It's beta testing results are excellent. Russ Horn is it's developer and it seems this might be the best forex robot of 2009. Recently a Forex Robot World Cup was announced. Official sponsors of this World Cup are FXCM and Boston Technologies. The purpose of this World Cup is to select the best of the best in an open and a transparent manner. The winner robot developer will get a cash prize of $100,000. This World Cup will provide a list of the best of the best EAs in the market that have been thoroughly tested under challenging conditions.

Best Auto Forex Trader For Consistent Profits

Having the best auto forex trader to trade the forex market for you can have a big impact on the way you view the market, and the amount of time that you spend monitoring it. Having one of these software programs can free up a lot of time for you that you would otherwise be spending monitoring your manual trades. It can also help you to gain a lot more profits in the market than you otherwise might be.

The characteristics of the best forex trader are ones that recieve regular updates. The problems with the old forex robots were that they did not receive any updates to let them know how the market was changing. This would cause them to be profitable for a few months, but then slowly become useless as the market changed. Forex robot programmers have realized this and are now sending regular updates to most of the newer robots so that they don't lose their edge.

The best auto forex trader currently on the market is the Ivybot. This forex trader is actually four traders in one, each trader is designed to trade a different major currency pair. This allows for you to diversify your trading without having to get a "one size fits all" style robot. Another great thing about this forex robot is that it is designed to receive the regular updates that are so crucial. There are actually a team of forex professionals that are backing this forex robot with updates on a regular basis.

Forex Robots Real Time Results - The Best in Terms of Verified Results

If you are buying a Forex robot, you need to make sure its made real dollars in the market and you also need to ensure, that these figures are verified by a neutral source. Never take the word of the vendor - there selling the system! Here we will look at the Turtle Forex robot's real time results which show its made millions in real time trading, lets look at the robot in more detail.

Most Forex robots are designed by programmers not traders. Check out most and you can never find any background to where they worked and what they achieved in reputable sources. The Turtle Forex robot is different, its based on rules devised by a true trading legend Richard Dennis and the results these rules produced, piled up hundreds of millions of dollars in the most famous trading experiment of all time.

Most robots simulate results going backwards over past data or they produce live results from themselves which are not actually real time and they come from them so should be treated with caution. Richard Dennis devised the turtle rules and they were used one of the most famous trading experiments of all time. He gave the rules to a group of novice traders, explained how and why they worked and set them up with funded trading accounts. They traded and the rest is history, as they made several hundred million dollars in real time trading.

Dennis had set out to prove, anyone could make money with the right rules and confidence in them and he was of course proved right. The experiment was featured heavily in the international press, the figures were audited and the story featured in Market Wizards, one of the best selling trading books of all time.

These rules are now available in the net Turtle Forex trading robot and allow users to target triple digit gains taking just 2% risk per trade. You can read the logic of how and why the system works before buying it and see the exact rules its based on to give you confidence in its ability to make you money.

There are a huge number of robots on sale but most rely on hype to sell them and they have no verified results but the Turtle robot does and its based on rules of a real trader. Take a look at it for yourself and see, how it can help you enjoy long term Forex trading success.

Best Forex Trading Strategy - The One the Pro Traders Use for Huge FX Profits!

Enclosed we will outline the best Forex trading strategy, for making big profits quickly and the good news is - this strategy is easy to understand, can be learned quickly and is the one the real pro traders use, to pile up huge gains and you can use it too - let's take a look at it in more detail.

This strategy is not popular with new traders and we will look at why in a moment but first, let's look at the logic it's based on and why it works.

On any currency trading chart, you will see big price trends and you will also see that many last a long time. In fact the best trends, last for weeks, months or even years. This strategy is based on how all big price trends start and continue which is in the following way:

Any Bullish Price trend, will start by breaking up through resistance to new chart highs and the trend will continue to do this, as the trend matures and unfolds. If you want to get into all the best trends you need to focus on buying high odds breakouts,through strong chart resistance levels.

The above strategy is both simple and logical and if you look at any currency pair you will see how profitable it is - so why do most traders ignore this strategy?

Most traders ( especially novice traders) are obsessed with predicting the exact low of a trend change but this is doomed to failure, because you have to predict and that's really just hoping or guessing. These traders continually buy into support and hope the level holds, most times it doesn't and they lose.

The trader who likes to get in low and sell high cant take a breakout, he sees the move happen but can't buy it because, he thinks he has missed the start of the move and wants to get in at a better and lower price so what does he do?

He waits for a pull back in price but he waits in vain and the reason is simple - the best breakouts simply don't come back they accelerate away from the breakout point and the trader who waited for the pull back misses a huge profit opportunity.

The professional trader doesn't mind missing the exact low, his focus is on having the odds on his side (which a breakout gives him) and focuses not on what he's missed but the huge profit ahead of him.

Breakout trading, involves looking at resistance levels traders feel are important which have been tested a few times and in terms of breakout trading - the greater the number of tests the better the breakout will tend to be when it eventually occurs. In addition, the wider the tests are apart the better in terms of time.

Generally I look to trade a minimum of six tests and two of these tests, should be at least six weeks apart.

Breakout trading will work, as long as markets trend and of course this will never change and don't' worry that not many traders trade breakouts, because the bulk of traders lose. If you want to win you want to be in the minority so join the elite minority who make money and use, this Best Forex Trading Strategy for making gains in just 30 minutes a day.

Best Forex Trading Indicators - 4 of the Best Indicators For Bigger Profits

Many traders use numerous indicators - but over the last 22 years I have four favourites and I will share with you here and they have worked for me and they will work for you. Let's look at them...

Today, good old bar charts have gone out of fashion but I think their essential and use them in conjunction with the indicators below. I don't use candlestick charts, there is a big myth there better but there not. If you like using them, then do so but the relationship between the daily range open and close is obvious.

Here are the four indicators and you can read more about them in our other articles. There available on most free chart services and will take you around 30 minutes each to learn and then, your all set to start using them on your forex chart and start making bigger profits.

1. The Stochastic

For me this is the ultimate timing tool.

Trading stochastic crossovers with bullish or bearish divergence, into chart resistance or support, from overbought or oversold levels, is simply the best market timing tool. If the stochastic crosses from chart highs or lows the signal is even more powerful.

2. Relative Strength Index

This gives you the strength of the trend and when RSI weakens or strengthens, when the trend is still up or down, especially from over bought or oversold levels, you have advance warning of a contrary move.

When combined with the stochastic, you have a great combo for better market timing.

3. The Bollinger Band

Gives you the volatility of price and you simply need to understand it to make money at forex trading.

I love using pops to the outer band, near chart support and resistance, to look to take profit or, initiate a contrary trend. Also in a strong trending market, dips back to the centre band ( the moving average) are great value areas to look to add extra positions in a strong existing trend.

You don't time with them - you look for areas in line with support and resistance to trade into.

4. Moving Averages

Simple moving averages are great and I have just mentioned the mid band of the Bollinger band, which is in fact a simple moving average, to buy and sell back to in existing trends.

In strong trends dips to the 18 - 25 day moving average are a great place to load in new trades.

Another excellent time period is the 40 day moving average which acts as the last line in a strong trend with nearby support or resistance. In strong trending moves we like to trail our stop behind this level and it keeps us in the long term trends.

When trading with the above and support and resistance lines you will get market timing for your trading signals.

There are some other useful technical indicators and we like the ADX line and the MACD too - but the above are the four we use all the time. If you spend 30 minutes on each one you will soon have four powerful indicators that you can use in your own forex trading strategy, to seek currency trading success with.

Check them out, they're simple, powerful and can work for you too with a little practice.

Best Forex Trading Indicators - 4 of the Best For Bigger FX Profits

There are lots of Forex indicators to choose from but here I will look at five that all traders should know about and if they are used correctly, they can enhance your profit potential lets take a look at them.

These indicators all complement each other and can be used in the same strategy. You can learn them in around an hour each, their visual and if combined with normal bar charts come together to give you a flexible and powerful way to trade. Lets look at our best Forex trading indicators for bigger profits.

Bollinger Bands

This indicator, doesn't generate trading signals but it gives you a view of volatility and all traders need to know and understand how volatility affects price.

A very simple effective way to use it is to use the mid band or 20 day moving average, as a simple way to get into existing trends.

Look to buy currencies in moves back to the mid band in a bull market and sell them, in a bear market - Simple? Yes but look at a chart and you will see how effective it is.

The Relative Strength Index

Developed by trading legend Wells Wilder, this indicator can give you advance warning of trend changes watch for the RSI to turn against the direction of the trend in overbought areas in bull markets and oversold areas, in bear markets to take profits or to enter contrary trades.

The Stochastic

The stochastic is the ultimate indicator for entering trades in our view, simply look for stochastic crossovers from overbought or oversold levels in bull or bear markets to enter trades, in the direction of the crossover and enter your trading signals.

Its the ultimate timing indicator and one, all traders should learn to use.

Average Directional Movement

Another Wells Wilder indicator and it's used, to determine whether a market is trending or not but its best use is, as a profit taking signal in strong trends.

Simply look for the ADX line to rise above 40 and turn down, to take profits and look for contrary trading opportunities.

These 4 Indicators can help you enter new trends, trends in motion with the best risk to reward and also give you advance warning of major contrary trends and if you use them, in conjunction with your bar charts, you will be soon making bigger profits with some of the best Forex trading indicators.

The Best Forex Strategy

What is the best Forex strategy for trading in today's Forex market? What is the criteria for making this kind of decision as a trader? Many people have an opinion. Go to the Internet and you will be able to Google more methods than you can possibly read or understand if you could. The same would be true if you spent time at your library or bookstore reading through the books.

Typically you will get two kinds of information when it comes to trading strategy. One is objective in nature and one is subjective in nature. This is the primary dividing line that you will see if you look at the broad spectrum of trading Forex or for that matter any financial market.

Let's look at what this means? What is a subjective trading method? Here are some highlights from a book written on what evidence-based trading would include by David Aronson. Subjective methods are not well-defined in terms of the procedures. They are interpretative, therefore subjective. Opinionated. They include private interpretations of individuals. The methods are not computerized. "It is impossible to either confirm or deny a subjective method's efficacy." There is no evidentiary challenge.

What strategies would employ these techniques? Chart patterns for one. Yes, chart patterns do exist but if you listen to any number of traders they will disagree as to type and to which direction that the trade will go. The best thing that can be said about chart patterns is that typically they happen when price is wedged into a corner and must go in one direction or the other. Which way is open for debate.

The same could be said for Elliott Wave. Although seemingly very rational, this method is subjective. Simply read a book on the topic and then find one of several largely attended forums on the subject and you will get varying interpretations on the same currency pair and time frame. In the year I studied this method which included daily study on the forum and using a top Elliott Wave analytic website, I never got a clear directional analysis. Every analysis included the fact that the trade could go either way and there was not clear signal.

In contrast is the objective strategy. This strategy is not fool proof but the signals are unambiguous. They are programmable. The results can be tested. There is no question to the direction of the signal.

The idea when you are looking at a trading strategy to build upon, and I stress that, is to start with a system that can be measured. The best traders use a method that allows them to do this. Regardless of whether you analyze the market fundamentally to determine what you think a currency pair will do, or technically first, you need a point of entry and your trading strategy should employ a trading entry that is objective, not subjective. If you do this you will have a solid foundation for your trading and one that will allow you a way to test it against the prevailing Forex market.