Automated Forex Trading

How to Make Money Fast and Easy with Forex Trading?
How can I make money with forex trading and is it possible to make money fast with forex trading? These are some of the common questions you can find on any currency trading forum. There are so many advertisements out there that endorse ways to make money. Earn little extra cash from home, make money online, replace your day job or start a home business … whatever you want to do; there seem to be a hundreds of ways to do it. And yet we all know that it not really easy as it sounds. Naturally now the questions arising in your mind should be, is the same thing true of forex trading?

Forex trading is currency or foreign exchange trading which involves anticipating the movement of currency prices around the world. A forex trader exchanges one currency for another because he thinks that the price of one currency will rise and fall relative to the price of the other.

For example, if the US economy is doing well but the Canadian economy is doing badly, you might want to trade the USD/CAD currency pair. You would buy the currency pair which means that you are buying USD. One time when you might want to do this would be if there is a fall in the price of oil. Canada is a big exporter of oil and the USA is a big importer, so the value of the US dollar against the Canadian dollar is likely to rise when oil is cheap. This could be true even if the US dollar is falling against other currencies.

Of course, if you just had a couple hundred dollars in an account that you wanted to invest in this trade and you got 1 for 1 when you bought this currency pair, you would probably not make more than a few cents on the trade. Currencies just do not change in value that much that fast, at least most of the time.

So forex traders use leverage to increase the size of the sums that they can control (lots). Brokers will allow you to open a trade a position that is at least 100 and sometimes 200 times the amount that you are putting up. This means that your $10 controls $1,000 or $2,000 in the market, or your $100 controls $10,000 or $20,000 in the market. Now the profits could be a lot bigger. This is how people make money fast with forex.

From this example you will see that forex is risky. In this it is like all speculative investment. Generally speaking, the risk increases along with the potential returns. There are safe investments like government bonds where you have a guaranteed return, but it’s low. Then there are risky investments like stock or forex trading where you can make money fast and make a lot, but on the other hand you can lose it all. So it is important not to trade with money that you cannot afford to lose.

Fortunately forex brokers provide demo accounts where you can try out your skills and trading systems on a virtual money account until you are profiting on a regular basis. It is necessary to practice in demo mode for a while before you go live, so forex is not something that can turn a complete beginner into a millionaire overnight. The truth is, there is nothing that can do that outside of gambling, which is even more risky.

However, once a person has learned to trade forex steadily and well, it is certainly possible to make money fast with forex. I would suggest you to spend some time and money on forex education. You could reduce the learning curve by utilizing automated forex trading robots like FAP Turbo or Forex Brilliance. However remember that even if you are using a Forex EA you still need to learn the basics.

The Steal Pips is the third major automated forex robot released during the month of March 2010. With so many forex trading robots in the market you might be wondering what is special about Steal Pips Robot. In this Steal Pips review we are going to examine the features of StealPips EA and evaluate the performance and results of Steal Pip expert advisor.

Steal Pips is Live Now

Steal Pips Review

What is Steal Pips?
Steal Pips is an automated Forex trading software or robot which can run on your computer 24 hours and manage all your trades automatically.

The Key Features :
The major Steal Pips features include Broker protection steal mode, 5 digit broker support, Price Action Analysis (No lagging indicators!) and money management system. Steal Pips also recognizes fundamental analysis scenarios and adjust automatically. See the full list of features below.

Customer Support :
One of the major drawbacks of most of the automated forex trading robots is the lack of proper customer support. The Steal Pips forex robot team has setup a separate Support Desk Ticket System for quick and easy customer care.

Download Steal Pips here.. | Watch Steal Pips Video & Results

Forex Black Panther is going to launched within an hour from now. Like most of the automated forex trading robots, the ForexBlackPanther also created a huge buzz and if you have subscribed to some forex guru’s forex newsletter, he probably had send you an email by now talking all the good things about the Forex Black Panther robot. But does this currency trading expert advisor really works? Or is forex black panther a scam like the numerous other forex EAs that were released in the past few months? In this Forex Black Panther review we are going to examine the performance of black panther, the features and our review conclusion based on actual results.

Forex Black Panther Review
Unlike the regular robots the Black Panther is equipped with 3 Unique Technological Features.
1. P.E.T.E (Price Event Trend Extractor) which pinpoints the emergence of new trends with high accuracy.
2. Multi Dimensional Price Analysis and
3. Built-in Elite Portfolio Management

The above 3 unique features takes Black Panther above the rest of the robots available in the market today.

Euro USD is one of the most popular currency pair in forex market. Most of the traders when they start out making money with forex trading they go for Euro trading against the dollar. However, unfortunately most of these traders know practically nothing about the Euro trading. The only thing they look for is the euro to dollar conversion or the exchange rate. But when you are doing currency trading in euro there couple of significant facts that you should be aware of.
Unlike other currencies the euro is a very unique currency because it is not the historical currency of any nation. The euro was introduced after the formation of European Union or the European Economic Community. The European country leaders and European bureaucrats realized that it would boost their economic activities if they have a common currency. Today, Euro is the second most traded currency (after the US dollar), in the forex market. Naturally Euro is a very significant power in financial markets.

History of Euro:
The European Economic Community or the European Union was formed as a means of lowering trade barriers between nations in Western Europe. Over the years it has extended to include countries in Eastern Europe. However the most important factor for expansion of euro trading is the formation of the European Monetary Union (EMU) and the introduction of the currency euro, which happened during the beginning of this millennium.

Facts You should know while Trading in Euro
The euro is controled by the European Central Bank (ECB). Because of its status as a multinational regulatory bank, its remit is a little different than the US Federal Reserve. The European Central Bank is concerned solely with interest rates and maintaining price stability within the Euro zone, while the Federal Reserve and most other national central banks also have to consider the effects of their decisions on employment levels. Read the rest of this entry »

A Forex demo account is an excellent tool for learning currency trading without losing your hard earned money. These days most forex brokers offer Forex Demo accounts since they know that the beginner traders love to test the trading systems before they start trading with real money on live accounts. But many new traders are worried if the forex demo accounts are real deals or are there any hidden costs which the broker is not telling. Well let’s see how exactly the forex demo accounts works and what are the precautions you should take while using a forex demo account.

Why do Forex Brokers offer Demo Accounts?
The Forex trading brokers offer demo accounts or virtual trading account because they want you to try out their trading platform. Brokers hope that you will like their trading platform and find it easy to use and perhaps choose their service for your trading needs. They know that once you make money in your demo account, you will be more likely to invest real money with them. These types of offers are natural in any business. You know the fitness centers offering one week trial. If you like their facilities you continue by becoming a paying member or you quit. Same techniques apply here as well.

Recommended Forex Broker: DukasCopy Swiss Broker

Forex Demo Account Tips:

There are few things you must take care while dealing with a forex trading demo account.
Read the rest of this entry »

FAP Turbo is one of the few profitable forex robots available commercially. In fact the success of FAP Turbo robot resulted in big influx of new forex robots though most of them failed miserable. Despite of the fact the FAP turbo got proven results; if you search on internet or forex forums for a FAP Turbo review you will find mixed responses. Some traders swear that FAP turbo is the best one in the market while others complain that it doesn’t work. Why is it so? The answer lies in FAP Turbo settings of individual trader.
The experienced trader would try different currency pairs, tweak the FAP Turbo settings to test and analyze the results. Eventually they will come up with the best FAP Turbo settings to make money with forex trading. If you are just starting out forex trading with FAP turbo you might want to know the best FAP turbo settings straight away. Naturally the first thing you probably did was searching on internet and forex forums for settings of FAP turbo. Beware! Many of the free information floating around on internet are inaccurate and fake. You don’t want to risk your funds by entering the wrong settings inside FAP turbo robot. Unless you trust the person, do not believe anyone who is offering free FAP Turbo settings on forex trading forums. Moreover Steve, the creator of FAP Turbo expert advisor often updates the software and the old settings may not give good results on a newer verion. So the next question you probably have is, “Where can I find the best settings for FAP Turbo robot?” That’s exactly what I am going to tell you.

Recomanded settings for FAP Turbo Robot

Rob Casey, the author FAP Turbo Expert Guide regularly updates the settings for this highly profitable forex robot. You can see the latest FAP Turbo setting by Rob here...

My suggestion is to go with Rob’s optimum settings though you might have to spend some money to get it. It is better to pay for the best FAP Turbo settings guide than spending countless hours on testing by yourself or losing all your money in your forex account by entering some fake settings you found on a forex forum.

Are you looking for the best forex expert advisor? Automated forex trading is huge right now for a very good reason and the best expert advisor is in big demand. Profiting from foreign exchange is easier than ever if you have the right system and have it automated. Let’s look at some of the reasons why.

1. Hands Off Trading
The best expert advisor will save virtually all of the time that you now spend searching and watching the forex market for trading opportunities.

If you go live with it right away you will need to keep a close watch on it at first, of course. It is better to set it up in demo mode to start. Then you can leave it autopilot right from the get go, and just go in and fix any problems with the settings until it is consistently making money in your forex demo account.
Read the rest of this entry »

Bird Watching In Lion Country 2010 by Dirk Du Toit’s is an updated version of the revolutionary forex guide. Bird Watching In Lion Country is a wired name for a forex trading book. But despite of the weird name, the original version of this book which was released over 5 years ago has become extremely popular and emerged as one of the best selling currency trading eBooks ever. In this Bird Watching In Lion Country 2010 review, we are going to examine the details of this guide and how it can benefit you to earn money from forex trading.

What is inside?
According to Du Toit the forex market is a dangerous jungle or the lion country. You know that well. Do a search on google for forex trading and you will see hundreds of websites and gurus claiming that they will teach how to make big bucks with forex and how the automated robots can make easy money etc. And you often wonder why can’t they use their system to trade and make money. The fact is that there is no easy money. According to Du Toit’s if you want to go bird watching in lion country like forex market, you must know the dangerous and learn which is the best route and which routes should be avoided to reach your goal.

Is Bird Watching in Lion Country suitable for me?
If you want to do manual trading and make big profits in the long run, then this book is for you. On the other hand if you are looking for a simple forex trading system based on an indicator you might want to consider one of the popular forex robots like FAP Turbo.

What is New in 2010 version?
The guide covers all forex trading essentials quite comprehensively. The new Bird Watching in Lion Country 2010 gives an additional focus to a number of things such as drawdown which were not explained in detail in the first version. As you know drawdown is critical for determining risk and therefore it is an indispensable part of any flexible forex trading system. The new version also consists of case studies of real trading examples.

Download Bird Watching In Lion Country 2010 here…

When you learn forex trading you might have come across the terms stop/loss and limit order. What are they and how they benefit for you to make money from trading?
Limit order and Stop/Loss are conditional orders. We call these conditional orders because they will not come into effect unless certain conditions are met. There are two types of conditional order that you can place while trading forex. They are the stop loss (which is also known as stop/loss) and the limit order.

The Stop/Loss
The stop loss is a familiar order that controls the risk involved in a trade. With a stop loss, you are giving instructions to the broker, “If the price goes this far against me, I want out.” So if you have bought a currency pair expecting an increase in price, but then the price falls, your whole account balance will not get wiped out. The stop loss will be triggered when the loss reached at certain level according to your settings and protect the majority of your funds.

A Limit Order
A limit order is similar but applies to the opposite situation, the condition where you have a winning trade. With a limit order, you are instructing the broker, “If the price reaches this level, that’s enough, I’ll close there and take it.” Once set, the limit order will be activated if your pre arranged price (desired profit level) is reached and the trade will be closed at that price.

Many new forex traders are reluctant to use limit orders when they first start out. For them limit order seems counter intuitive. After all if the market is going your way, why would you want to close the trade? Wouldn’t you want to hold on as long as possible to get the most profit out of it? This is a serious mistake committed by many new traders.
The trouble with that approach is that sooner or later the price will reverse, and often it does it sooner rather than later. If you do not place a limit order, when will you close the trade? How will you know when it has gone as far as it is going? If you wait too long, a sudden reversal could see all of your profits wiped out.

So unless you have a system that is set up with very precise criteria to tell you when to close a trade, you will probably be better off if you use limit orders.

And where do you set them? Back testing your system can be helpful here. You can check through the last months and years of markets that would trigger a trade under your system and figure out what would have been the optimal setting for the limit order. However remember that past results are not necessarily going to be repeated in the future. Testing your limit order settings in a forex demo account is also useful.

In most cases you will want the limit order to be further from your starting point than your stop loss, even after spread is taken into account. This will mean that you only have to score a 50% success rate to be in profit. Setting the limit order at twice the pips of the stop loss, either before or after spread, might be appropriate. However, this depends on your system. Don’t skip the testing.

Using limit orders has another valuable benefit too. Once you have both stop loss and limit order in place, you can walk away from the computer and get on with your day. Though you won’t get the kind of freedom you can achieve through automated forex trading robots, with limit order and stop/loss in place there is no need to watch every little fluctuation of price until one or the other is triggered. This reduces stress and makes it less likely that you will panic and deviate from your original plan. So using limit orders in forex trades makes for a happier, more profitable trader.
For complete hands-free forex trading I suggest you to get a good automated forex robot like Forex Auto-Pilot Turbo (See FAP Turbo Review) or Forex Megadroid.

The Forex Brilliance robot is an expert advisor which is set to released in the market on March 24th. Right now I do not have many user feedback and reviews since the product was never released to general public so far. Their website is also not live yet.
I have contacted the creators of Forex Brilliance to get more details about the automated forex trading robot. And here you can the details and features of Forex Brilliance robot before anyone else.

Download Forex Brilliance System here…   | Forex Brilliance Results
Forex Brilliance Features:
According the developers the Forex Brilliance currency trading robot is the culmination of several months of intensive research, testing and development. It’s objective is to provide a true solution for people who want to trade the Forex market with no human intervention, i.e. using software to automate the task. The robot is designed from the ground up and gone through intensive testing and tuning to product an amazing rate of 80% winning trades since 2004. Forex Brilliance has been designed such that the user needs absolutely no experience or knowledge of Forex trading – a “Plug & Play” concept.

The creators of Forex Brilliance told me that they have ensured that the only thing the user needs to know is how to download a file – from that point onward, everything is taken care of for you. The developers truly believe that this is the best Forex product launched in many years. Forex Brilliance robot makers say that, unlike with many Forex products out there, every step has been taken to ensure it meets the highest quality standards.


I will do a detailed review after I receive feedback from actual customers to verify this claims.