Category Archives: Forex Strategies

Forex trading strategies that work.

Good Forex Trading Systems

Why Is It So Hard To Find Good Forex Trading Systems?

Is it possible to make money with forex trading systems? Beginners often wonder why it is so hard to find good forex trading systems. Advertisements all over the internet and on Television draw the average Joe into the lucrative but risky forex trading market with dreams of striking it rich, but he quickly finds that making a lot of money in currency trading is not as easy as he hoped.

Before you even start looking for forex trading systems, you need certain qualities. You need to be comfortable with figures. You need to be cool headed and, in a certain way, ruthless; while you don’t have to deal with other people too much, you do have to face your own fears. You need to be able to take risks without being a gambler who will stake all for a win.

Then if you fit the mold or think you can learn to, it is time to look around for instructions on how to trade. There are a huge number of forex trading systems available and all you need is one that works, so it should not be too difficult … right?

In fact, the idea of a forex system that ‘works’ is misleading. Trading systems do not work all by themselves, unless they are automated, and even then you have to set them up in the right way in order to maximize the potential profits without exposing yourself to too much risk. Manual systems depend even more on the individual who is using them.

So one of the reasons that people find it hard to track down good forex trading systems is that they are looking for the ‘one size fits all’ perfect currency trading system, and it does not exist. If you look in forex forums you will not find a single system that has 100% positive reviews. There is always somebody who ‘couldn’t make it work’ for one reason or another. This is because not all the traders will be comfortable with certain trading systems however good the forex trading system may be. For instance traders who are mainly into short term trading may find forex scalping as the best option and will definitely agree that a good scalper system such as the Delphi Scalper system is the right choice. On the other hand traders who would like to take the advantage of 24 hours market may go for automated forex trading robots such as FAP Turbo or Forex Megadroid.

However, you should be able to find a currency trading method that works for you if you have the right attitude when you are looking. That is, search for something that fits your own trading style. If you do not yet know what that is, just try out a few free systems in demo mode to see if you are better suited to day trading or longer term trading, and how much you can handle in terms of technical analysis.

    Recommended Forex Trading Systems:

  • Delphi Scaler: DelphiScalper is highly recommended for forex scalping.
  • Forex Rebellion: This is a simple yet effective mechanical forex trading system.
  • FAP Turbo Robot: The most popular commercial forex expert advisor or automated forex trading robot.

Many people find day trading more stressful but it has the advantage that at the end of your trading hours you have normally closed all of your trades so you can switch off completely and relax. Long term trading involves leaving trades open, and you might find that there is always a little worry at the back of your mind, especially at first. You might be sneaking off to the computer at all times of day or night to see what is happening to the prices. Give yourself a little time with various forex trading systems in demo, and you should soon find one that is righ

Forex Strategies for Profits

A Simple Forex Strategy To Increase Your Profits

There are a few forex strategies that you can use to increase your profits, no matter what forex trading system you may be using. Here is one simple trick that can help you to make more out of each successful trade.

Of course, all traders know that you should set a limit order or at least include a profit aim or closing signal in your plan and keep to it. It is important not to keep a winning trade open until the moment ‘feels right’. Either you are aiming for a certain number of pips or you are waiting for something like an oversold or overbought signal and then close immediately.

Keeping a trade open for an undefined time, hoping to make the most of it and profit from every last pip, is a road to ruin. Successful forex strategies are never based on feeling. Sure it is annoying to close out a trade at 50 pips and then see the trend continue to 200, but how often does that happen? We tend to remember trades like that and forget the others, so if you do not keep a record of what happened after you closed a trade, now is the time to start.

If it turns out to be true then you might want to back test the results of increasing your profit aim per trade, but in 90% of cases you will find that this does not happen often enough to justify that. What you may find, however, is that it is worth closing half of your position.

Of course, to do this you must either be trading more than one lot or have a broker that accepts fractional lots. You can set a limit order for the first half but you need to be watching the market so that at that time, you can set a new limit order for the second half and at the same time, move your stop loss. The new limit order could be half of your original profit target or it could be the same amount again, but not more.

There are several options for the positioning of the new stop and it is a good idea to back test these for your particular system. First option, if your stop was originally 20 pips out from your opening position, it now moves to 20 pips from the price at which you just closed half of the order.

Second option, your stop moves to your entry position plus or minus the spread. So if the trend now turns on you, you will have a profit on the first half of your trade and break even on the second half. Third option, the stop moves to half way between the opening price and the current price. What is best depends on the original position of your stop. Of course you do not want to move it so close to the current price that it is triggered too easily.

Equally, never be tempted to apply this technique to a losing trade. It would be a big mistake to only close half of a trade when it hit your stop, unless you are testing different positions for the stop. Forex strategies should maximize your profits, not your losses!

FAP Turbo Settings

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
FAP Turbo settings Guide
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.

Forex Robot World Cup

Have you heard about the Forex Robot World Cup competition? If you are a member of any of the forex forums or subscribed to receive email from any of the forex websites you probably might know about the forex world cup by now. So what is exactly FRWC and how is it different?

What is Forex Robot World Cup (FRWC)?
The FRWC or Forex Robot World Cup is organized with the objective of identifying the best performing non-commercial Forex Expert Advisor (forex robot). The competition is transparent and all forex robot developers have equal chance of winning the competition. All the Forex EA participating in the competition are designed to run on the famous MetaTrader 4 platform.

How is Forex Robot World Cup different?
There are lot of forex expert advisors available for sale and almost all of them claim to be the best forex robot in the world. You might have seen many review sites comparing these forex software and recommending you the best. So what makes FRWC championship different?
As you know, a forex robot is nothing but a software which can automate a highly profitable forex trading system. The true power of an automated forex robot is the trading system on which it is built. The problem with moat commercially available forex robots is that, they are created by programmers without a strong and profitable strategy. This is because their primary is to make money with forex robot sales and not from actual trading.
On the other hand, there are currency traders who got years of experience who had developed their own winning forex system. Once they are confident about the profitability of their trading system they hire software engineers to program a forex robot which could automate the trading system. At Forex Robot World Cup you can see such private forex robots in action. In fact out of 329 Forex robots submitted for the competition only 24 Forex EA got qualified for the Live Trading Phase of FRWC championship.

How is Forex Robot World Cup beneficial for Me?
The 24 Forex Robots which entered in the final phase of the competition are based on highly profitable forex system. In fact most of these forex expert advisors (forex robot) were developed by spending large sum of money, but these private Auto-trading robots are really powerful. But unfortunately we, the normal guys will not get these highly profitable forex robots since the trader developed it for his personal use.
With Forex Robot World Cup we are going to get the opportunity to acquire the best Forex Robot which was never available in the market before. On 16th February 2010, when the Forex Robot World Cup organizers announce the winner, we will have the opportunity to get our hands on the Royal FRWC Forex Robot.

The Forex Robot World Cup results are announced. You can see the winner here.

The Forex Robot World Cup Results:

After months of tough competition the Forex Robot World Cup competition finally come to end with some amazing results. The first place was won by LMD-Multicurrency robot. This Forex EA was developed by a Croatian trader called Drazen Ziskovic. Congratulations to Drazen. Well Done! :)
The second prize winner HiRIDER also looks very promising. One thing I noticed from the Forex Robot World Cup results is that, the HiRIDER robot was continuously improving its profit while the LMD-Multicurrency had it’s ups and downs.
Below is table showing the results of Forex Robot World Cup featuring the top 5 forex robots who won the prizes.

Results  Deposit Name of the Robot Drawdown Net Profit Winner Prize
1 $1,000  LMD-Multicurrency  34.06% 145.60% $100,000  
2 $1,000  HiRIDER  3.26% 88.11% $30,000
3 $1,000  SuperVolcano  4.98% 36.25%   $10,000
4 $1,000 VREM2 8.38% 19.39% $1,000
5 $1,000 Nutcracker 23.67 14.93% $1,000

Forex Robot World Cup Bonus

I understand that many of you guys are interested in getting the FRWC royal trader, I thought I will add some killer bonus to sweeten the deal. Buy the Fusion-V 1.1a Robot which is the Royal FRWC robot, by clicking the link below and win exclusive bonus worth $197.

FRWC Bonus Details:
Automated Forex Blueprint

  1. Automated Forex Robot BluePrint:
    – This blueprint will teach how to quickly and easily setup an automated forex trading robot which will turn you computer into an autopilot money making machine.
  2. Online Forex Manual:
    – A forex trading bible which contains everything you need to know about earning big profits with online forex trading.
  3. Step by Step Forex:
    – A step by step guide for new traders to absolutely win trades without losses.

How to Claim the best Forex Robot World Cup Bonus?
Click the link below and by the Forex Robot World Cup royal trader Fusion-V 1.1a. Sent a copy of your purchase receipt using the comment form below. I will personally contact and send you the web page where you can download the bonus.

Make sure that you click the above link when you buy. Once purchased send the receipt using the form below to download the bonus items.

Forex Day Trading

3 Factors You Should Take Into Account while Day Trading

The most common way to earn money with Forex day trading is trading the Foreign exchange news. That is, opening short term trades according to the upcoming forex trading news. Still, as most forex traders know, this is a very risky trading system and it is easy to get trapped into a losing situation. In this article we look at 3 very important things that you have to take into account if you like to benefit from day forex trading based around currency trading news.

1. Market Expectations
Failing to consider market expectations into account is a very common fault in news based day trading. We will explain this with an example. Let’s say there is an forthcoming broadcast of US trade information. As per your prediction this announcement to be good for US dollar, so you open a trade just before the declaration is due.

But you forgot to take into account the fact that the foreign exchange market in general was expecting this report to strengthen the dollar, hence in fact, the price movement was already happening slowly in the days or even weeks before the announcement. When the report is made, there will only be a big price movement if the broadcast is considerably changed from expectations. (Also see fundamental analysis)

That means that your trade will only pay you well if the report is much more encouraging than everyone anticipated. If the report figures are good but not as beneficial as expected, the US dollar might plunge because the market outlook in advance of the announcement was exceedingly high. So you possibly will actually lose out.

Continue reading

Simple Forex Strategy

There are numerous forex trading strategies and many of them pretty good. But what is the best forex strategy to make huge profits? Let’s find out…

Simple Forex Strategy: Concentrate on Money

When you want to develop the best forex trading strategy for making real money, you have to to focus on the money itself and the methods to manage and control money. Of course our primary aim is to create a profitable trading strategy. But you should always keep in mind that a complex forex system or the best forex software in the world will not bring you profits if you fail to manage your investments.

If you are new to forex trading, managing your funds might sounds like it should be pretty simple to do. However managing investment is not a simple skill and everyone is blessed with it. The normal perception is that if you are good with your money and cash flow in general and if you are keeping a good track all your investments you will do well in currency trading as well. This is not always true. Of course you will have an advantage compared to thousands of other traders who can’t handle money at all. However investing your money in a risky market like forex will necessitate a totally different attitude.

Make Money or Avoid Losses?
After trading for some time you will soon realize that one of best ways to make real money with forex is not go for making big money, but just focus on avoiding big losses. When you are starting out in forex trading if your strategy is to go for only big trades, then you are risking too much. Instead concentrate on a series of small wins and completely eliminate losses. You don’t have to worry about occasional small losses which are unavoidable. Eventually with lot of trading experience you will be able to identify big trades. Thus when you begin trading forex your strategy should be to avoid big losses.

You might ask, “Is it not possible to make profits if my forex strategy involves lot of small winning trades and very few occasional big losses?” Of course it is possible that your winning trades can cover the odd big losses. However, this is not the best forex strategy for anyone starting out in currency trading.

Why? Because when a large loss occurs, it is likely to upset you and might cause panic. As a result you will be worried to continue with your existing simple trading system and start thinking of new forex trading strategies which are more complicated. Besides, you will want to recover the money you lost as fast as possible which totally a dangerous situation. Because at this stage you might chose dreadful trading decisions which might result in further losses. The best forex strategy is always to stick to a winning trading system even if it suffers occasional losses. This is the success secret of experienced traders like Chris Lee from Pip Mavens who focus on simple forex strategies.

Forex Strategy: Trading Discipline
Forex trading beginners often get tempted to use maximum leverage on a mini account in an attempt to make big profits. Do not fall for this trap. According to your predictions it may be a perfect winning trade. But you could still end up with heavy losses since Forex market is highly volatile and any unanticipated forex news can lead the market in opposite direction.

When you are a beginner at forex it is always a good strategy to limit your risk to 2% of the funds in your account. So how much will you invest in your forex trading account? There are highly reputed forex brokers like Dukascopy who needs at least 10k investment and there are also other brokers who will let you open a mini forex trading account with few hundred dollars. Though you should not invest more money than you can afford to lose, it is better to have at least $1,000 in your account to do profitable trades.

Recording and Tracking
Like I mentioned earlier the simple forex strategy that is effective is to avoid losses and keep good track of your trades and money. You can make use of an excel spreadsheet to record your opening and closing prices, profit or loss after deducting the spread. You should also try to record the logic behind going for a particular trade such as the indicators that you used. You should follow this even if you are trading on a demo account. Trust me; this simple exercise is worth since within few months you can learn a lot by going through information recorded in this spreadsheet. This simple technique alone will help you to improve your strategy and your simple forex trading strategy will soon become a powerful winning strategy.

Best Forex Strategy

What is the best forex trading strategy? If you have been searching for currency trading strategies you might have come across various strategies. New traders are always jumping from one strategy to another looking for the best forex strategy online. You can visit online forex trading forums, attend forex training programs or read forex books, but you will soon notice that there are a number of forex trading strategies and each one of them claims that it is a winning forex strategy. So how do you know which is the best forex strategy? The truth is that there are many winning strategies and the best forex strategy will depend upon your currency trading system. Remember the old saying, there is more than one way to skin a cat!
For instance a forex strategy might work extremely well if you are trading with the aim of long term profits while the same strategy might not do good if you are more into day trading or looking for short term profits. If you use a automated forex trading software like Forex Megadroid or Forex Derivate you may have to use a different set forex strategies. Therefore there is no one particular currency trading strategy which will work for everyone.

Examples of Forex Strategies

The key is to find a winning forex strategy and sticking to it. So, how do you find a profitable forex trading strategy which works best for you? Here is are some guidelines.

3 Golden Rules of Forex Trading Strategy

There are certain guidelines that any forex trading strategy should follow and these are true for everyone. These guidelines are called the golden rules of trading.

1. Trend is Your Friend
Always follow the trend. Majority of the forex trading strategies and systems concentrates on identifying trends and that is a right approach. Do not try to go against the trend and depending upon the rising or falling trend, choose to go long or short as appropriate. Resisting the trend will result in losing your money in most cases.

2. Goal Setting for Individual Trades
Before you enter a trade set a clear profit goal. This means you know when close the trade and exit. Sometimes people get greedy and try to stay in there with the hope of making more profits. New forex traders often commit this mistake. They might even get few high profit trades only to see that finally a huge drop in currency price destroying all their funds.

Similarly, if a trade goes against you, do not try to hold on in the hope that the market will turn back your way. In such a case your forex trading strategy should be to cut your losses and get out and when you set proper goal for each trade you know when to quit. You can also make use of stop losses to do this automatically.

3. Protect Your Funds
Forex trading is of course a risky business. However risking too much on one trade is a mistake you should avoid. Even experienced traders fall in this trap. You may have strong confidence on a particular trade, but never risk too much money on a single trade. You may feel that nothing will go wrong with that trade, but anything can go wrong in forex trading.

So how much risk is too much? The amount of risk depends on your funds and the forex trading strategy you use. I would say risking 2% of your fund per trade is a safer option though you could go up depending upon the trade. However never risk more than 5% of your balance for a single trade. Also remember that if you go with a fixed percentage, as your profits and funds increase the amount of money you risk in each trade will increase.

The above three golden rules will serve as a guideline when choosing the best one from the forex strategies or while developing your forex strategy.

Best Forex Software

Best Forex Software The new version of Forex Auto Pilot, the FAP Turbo is rated as the best automated forex software available in the market today. After doing a detailed review and comparison with other forex software programs like Forex Megadroid the FAP turbo got the highest rating.

Download the automated forex trading software and try it yourself.

See the complete List of FAP Turbo Features …

Review Tip:
Do not go with Forex broker suggested by FAP Turbo straightaway. Because your key code for FAP turbo forex software will work only with one forex broker at a time and changing the broker is a hassle. So go for a forex broker you really trust. Continue reading

Fibonacci Trading

How to use Fibonacci in forex trading?
Anyone who is even minutely interested in Mathematics and the theory of numbers will be of the same opinion that the Fibonacci sequence is one of the most fascinating inventions ever in the field. There have been several applications to the sequence invented in the middle ages; and the Fibonacci numbers have established to be quite incredible in predicting futures in the financial markets like forex trading too.
Once computers have taken over the entire financial spectrum, various new avenues have opened up in which the Fibonacci sequence has been put to productive use. One such new avenue which shows tremendous potential is the usage of Fibonacci in predicting futures in forex trade. The past records and experience shows that Fibonacci sequence has been proven to uncannily predict the gains in forex trading.
But then, everyone should be using Fibonacci and minting money, right? If the question crossed your mind, you are on track. Here’s the answer why many people don’t do it.
Using Fibonacci in forex trading is a resource that requires too much intelligence and computing ability. Along with that, you should be very good with numbers and have an talent in playing with numbers that is way beyond the average.
However as human beings, we are so tough and so adamant that we do not believe it if it is not working for us. So the experts have developed the automated forex trading platforms (like FAP Forex Robot) that use Fibonacci as an algorithm to forecast the future trends and help the investor in a position of reduced risk. If you have used an automated forex system before, or if you are looking to get forex trading, you should try out and see if Fibonacci trading suits you.

To learn more about Fibonacci forex trading, I suggest you to check out the detailed video training series from Fibmaster which explains how you can predict the futures with very good accuracy with the help of Fibonacci.