Is your Broker really the problem?

Is your broker really the problem?

I’m sure many traders out there have accused their broker of swindling them from their hard earned cash at one point or another. I know I have on many occasion. I have had the privilege to work with some of the world’s largest forex providers, and now that I have been on both sides of the fence I have a very different opinion. Firstly, they’re not in the business of ripping people off. This is just a fallacy. I completely understand why people may think this, as I know there have been times when I’m in a trade and for the life of me can’t work out why the market automatically defaults to going against me. While this does happen all too often, it really is not the provider doing this. Think about this for a moment; why would a provider try to manipulate the market for one or two clients? Unless you are trading with many millions of dollars, it would be pointless for a provider to do this. How could they provide multiple prices for their clients?

Another one I used to hear clients mention is; How come provider ‘x’ has different prices than you? Here in lies some of the issues with trading the forex markets. Unfortunately, as there is no fixed exchange to trade through, the liquidity providers that various forex providers use may differ. In essence what this does is create a market that looks similar, but could be multiple pips in difference to the next.

I started questioning myself after I had a few losses with a particular provider. I actually assumed that due to their spreads being somewhat wider, then perhaps that was my issue. Needless to say I changed brokers. The same thing happened at my next provider, and so forth until I eventually decided to take ownership of it. It was when I decided to take full responsibility for all my results that things started to change. Of course there will always be times when a provider is at fault, or the market does something unexpected, and closes you out at the wrong price. What I am alluding to is that when you take responsibility for your actions, you can start to realise that it’s not ‘me Vs them’ anymore, but quite simply ‘me Vs me’ in trading. Taking responsibility is the first step. I have now traded with some brokers that have extremely wide spreads, and still made money; conversely, I have traded with some others with tight spreads and not done so well. In essence, every provider has both their good and bad points, and at the end of the day it is a matter of you finding what works for you. When you take on the mindset that you could potentially lose, or no matter what happens with your provider, you could potentially win, then it changes your frame of mind. You are more emotionally in control as you are not expecting anything other than you trade to be executed. When you adhere to good risk management, understand that it is you, and not your provider that is responsible for your results, then you can start to create positive outcomes in your trading.

Tips For Choosing Automated Forex Trading Systems

Automated Forex trading systems are on the rise. Those looking to trade in this way should be aware of a few things first. This kind of technology would enable you to earn profits with more flexibility and diversification in your trading.

You only need to type in the words ‘automated Forex trading’ and you will see a myriad of results. There are numerous companies promoting their software that purportedly get more profits than the others. But, how sure are we of these claims? How does anyone really know which ones are actually producing the results they claim?

There are a few things you can do to ensure you end up with a system that suits your needs. Here are a few steps to take to get you on the right path.

• When choosing your trading system, make sure that your software covers your trading needs. This sounds glaringly obvious, but there are systems that could cover multiple currencies and other brokerage and trading activities. Is the system solely for forex, or does it work on other markets? When it’s being promoted, are the claims on percentage returns solely on forex, or does it include the other markets the software caters for?

• Make sure that the software has the capability of analysing the market. You can check customer reviews about the software. When checking the software, look for the facts and not for the opinions. Be cautious of anything with claims that are far too grandiose. You would need to know what you can and cannot do. Remember that the product which has not performed well the past may take time to improve.

• Reliability is important. When looking for an automated Forex trading system, make sure that they have backup systems. Aside from that, Forex trade is a 24 hours a day and a 7 days a week job, so you would need a system that works throughout those hours.

• Your automated Forex trading system should also be safe. Your trading and personal data should be guarded by Internet- based system that could encrypt your data for protection. This would also make sure that your software and computer are free from any viruses that could attack the computer’s memory.

• You should be able to customize your automated Forex trading system. You would like to have a software and system that would be able to fit your trading strategy.

• You can also check the other features offered with the automated Forex trading system. Some would include multilingual support, integration with existing Web applications and sub-administration. Sub-admiistration allows more than one brokers to be on one server.

• Choose a system that is easy for you to understand. It should be user-friendly, easy-to-install and have tutorials that can assist you whenever you would encounter software difficulties.

• Avoid automated Forex trading system that have longer losing periods or bigger drawdowns.

• When picking out a Forex trading system, make sure that they have money-back guarantees. There are some programs that are easy to operate and works with demo accounts but once used in an actual or real account , it experiences a lot of problems and issues.

• Do not overspend. Do not buy an automated account that’s very expensive or something that you cannot afford. If you use an expensive system but do not have enough money to pay for it, then your account may lose its future profit.

However, even if you are using an automated Forex trading system that fits or meets all the requirement this still does not assure you of your magical success. Of course, it would still need money management skills and other trading skills as well. But with a great deal of patience and learning from experiences, you would eventually be a successful Forex trader.

Tips On Making Profits With The Automated Forex Trading System


The automated Forex trading system or software could be your most valuable tool if you want to be a successful Forex trader. It can help you get ahead of your competition and interpret the trading signals quickly and get profit by taking advantage of trading opportunities.

But having an automated Forex trading software is not the conclusive factor for you to succeed. There are a lot of things that you would have to do consider to be able to get your goal. Being a successful Forex trader involves a lot of things other than having the proper tools and equipments.

As a successful trader, you would need to be serious and focused. Of course, for some traders relying on your instinct pays off. But it is pretty scary and could be dangerous if you rely on it too much. Trading is not solely based on intuition or instinct, it should be based on research and understanding trade signals and trends. Sometimes, traders tend to be fretful over missed opportunities. Do not let emotions overrun your good judgement.

There are traders that say that automated Forex trading is a good thing since it removes emotional and psychological elements in the process of trading. Do not easily get discouraged, especially if you have lost some trades. If you noticed that you are on a losing streak for a couple of days already, then rest from trading for a while. You would need a clear mind to get on with trading. Remember that even with using an automated Forex trading system and software, there is about 90 percent possibility of losing in a trade.

Every new Forex trader would hear the automated Forex trading system would make them successful. But that is not the case, this does not guarantee success. You would still need to get equipped with basic knowledge and some trading skills. You would need at least know something about the market and how it works before you venture into it. Of course, there would be

Although, there are automated Forex trading software given away for free in some websites, it is safer to buy one. There are a lot of Forex trading software available in the market. Choose a software that has better customer service and offers different ways of airing your sentiments and problems about the program. Check also the customer feedback. Do not look for the opinions, look for the facts that customers say about the products, like encountered problems and how they were able to resolve it.

You would also need a demo account. Before you start trading real time, you would have to make sure that your trading system works. A demo account would help you test the trading software. Just be cautious of some trading software, some would work on demo accounts but would not work in actual trading accounts. Be sure of it customer service and technical support to help you address any issues regarding malfunction. This is why it is important to get a software that has money-back guarantee.

When you are already starting to trade, start with small risk. Never get too greedy. Raising your risk above the recommended level is not a good idea even if you are in the winning streak. Be rational. You would need money management skill. An automated Forex system can help you get ahead of trading , but you would also need to have confidence and the correct trader mindset

Choosing The Right Forex Robot


Forex robots are becoming regular members of the Forex market. For some traders, Forex robots are indispensable. Huge opportunities for traders to earn big profits or eventually accumulate huge amounts of opportunities are opening up to traders, there are certain factors like emotions that can affect your trade in a bad way.

Forex robots can put emotions aside and deal without being impartial or being biased when making decisions. Trade decisions are important since the Forex market is so volatile and changes could happen in just a matter of seconds. Quick reaction and decision would pay off, since timing your trade would mean so much for you to be able to increase your profit.

This is the major role for a Forex robot. Forex robots are programmed so that they would be able to enter deals that would be profitable based on the trade signals that the program analyzes. What’s great with Forex robots is that they would be able to carry out the strategy without compromising your judgement or setting them aside due to emotional conflicts.

If you are putting your trade career on the hands of a Forex robot, then you would have to understand the different things about it. The profitability of a Forex robot can be based on its quality, and quality can be different mainly because of the manufacturer of the program.

How would you know that you are getting the right Forex robot? Let’s check.

• Your Forex robot has great background about the currency pair you are interested in. Of course, a Fore x robot can actually monitor all the currencies in the world. But there would be programs that work best with a particular currency pair.

• Forex robots sometimes would have a particular size of trade where they would work best. When they have to trade in a bigger size that what they are recommended to do, their performance can sink eventually losing you trade deals and profits. Make sure that you have defined how much your trading size or money you are willing to put into risk in the Forex trading. There are some programs which would work even in different sizes.

• Forex robots are also available in different levels of automation. If you would like to have a certain level of control on the machine and program, then there are programs which can allow the trader to do some partial manual trading.

• When looking for Forex robots, always ask about the money-back guarantee. If, for some reason, the program would not technically work, you do not have to worry about buying a new one or wondering about the vendor’s return policy.

• Inquire what kind of features is included with your Forex robot software. There are some programs that are very expensive but when you look at it closely, it does not even have any features that could help you boost your trade. There are programs that you can purchase in a reasonable price and can offer you additional information and tools to improve your trading skills.

A Forex robot is a worthy investment. For it to deliver based on you expectations, then you would have cautious even during the selection stage. You do not just pick up something that was poplar, you would need to understand how important it is to make sure that you would get a Forex robot or a program that suits your needs.