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When trading Forex it is important to have all the proper tolls in your belt. The most important tool in my opinion is a good reliable Forex trading software program. The problem is that there are so many of them out there. As a result of the flood of inferior products I have sought to narrow it down to the best three programs: The Forex Autopilot, Forex Killer, and Forex 10 minute program. I you would like a more in depth review the links at the bottom of the page lead to an in depth review and link to the companies.

The Forex Autopilot: Marcus Leary is the developer of this Forex software program and he has certainly proven him self as he is one the old pros who knows the ins and outs of the currency trading world. He confesses that his system is probably not going to make you wealthy overnight. But he is confident that it does have the potential to make a consistent income of a couple hundred dollars, which is enough to give most people the opportunity to quit their regular jobs and trade the Forex market full time.

The Forex Killer: The Forex Killer software was is the baby program of the infamous currency trader, by the name of Andreas Kirchberger. This is my personal favorite because it has helped so many already and the testimonies and reliability of this system is very, very good.

The 10 Minute Forex Wealth Builder: Long time pro, Dn Saunders developed this program. It is popular and been around for a while for one reason: It flat out works.

Get an Objective Review of the Most Popular Forex Trading Software Programs. Forex Trading System Review is the place to visit.

See What Forex Trading Software REALLY Works! forex-trading-system-review.com is the place to visit.

It seems like all you hear about these days is how people are going crazy over these forex robots that have become so en vogue. But do they actually work? Think about it! In all this time that you’ve read about them in forums, chat rooms, etc….. have you ever know anybody who had success with them trading in a real (not demo) account? My guess is you haven’t.

Have you ever noticed that the ones you do hear about having success in the demo accounts, the moment they are traded on a real account with real money, the account crashes. Funny how that works, huh?

The fact is that I, not only wouldn’t trust the robot to trade for me, but I wouldn’t trust the broker I am using the forex robot on. Forex brokers (all brokers for that matter) are renowned for their questionable trading policies (e.g. hunting for stop losses), so you could imagine all the questionable tactics they could use on trading robot, which is something you have no control over.

Also, the fact that some automated system can tell you where the market is going to go is absurd. The market is too complicated for a machine to follow blindly based on the parameters of the developer. You think a forex robot has any idea what to do if the Fed comes out and lowers interest rates by half of a point instead of a quarter of a point. It would have no idea. This is something that they just cannot simulate.

John Templeton has been a successful forex trader after learning how to trade price action. Once he understood that all he needed to trade forex was on a plain chart with no indicators, his profits soared. You too could learn how to trade.

You see a lot of Forex trading systems online that claim that there complicated mathematical formulas can beat the market but this is not true for one simple reason.

Fact – Forex markets do not move to a mathematical theory which you can predict forex price movement with and the rest of this article will explain why, give the proof and show you a better way to win with your forex trading strategy.

You will hear a lot of traders telling you maths works and that gurus theories such as Gann, Elliot and Fibonacci are scientific and mathematical ways of doing trading but the definition of a mathematical theory is:

It works ALL the time not now and again!

The theories just mentioned don’t and neither do any other mathematical theories – its rubbish to say forex markets move to mathematics.

You often see systems sold that say they work to complex mathematical algorithms or were devised by a wiz kid – but look at the track record and what do you see?

A made up track record in hindsight, using closing data and knowing everything that happened! Well that’s not hard to do, anyone can make a profit if they know tomorrows price today but that’s not real life. Real life is – trading without knowing the price.

The track records are simply bent to show a profit, on the data segment studied and the more it’s bent, the more unlikely it is to work in real time, as no two segments of data ever repeat exactly.

If You Want to Win at Forex Remember this:

The markets don’t move to some mystical law that repeats exactly – but they do move on probability and by trading high odds set ups, you may not win every time but you will win more than you lose and with sound money management you can win long term.

The key is to use a simple odds based method, as simple systems always work best, as they have fewer elements to break in the brutal world that is forex trading.

Think About this key Point

In 100 years despite all the advances in computers, forecasting and speed of communications, we have seen no increase in the number of winning traders and this goes to show that complicated mathematics and fancy theories do not increase the odds of success.

A Simple Way to Succeed

Success in forex trading is dependant on a simple robust forex trading system, combined with discipline and sound money management; this has always been so and always will be.

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As you know, the markets aren’t good right now. People are scared. Every day we watch wild swings and it’s all we can do as investors not to dig a hole in our backyards and bury our money. But not all markets are bad. Many investors are turning to the foreign exchange commonly know as Forex for profit opportunities.

If you don’t have a lot of experience with Forex the trouble is conquering the learning curve. But there are ways to master the learning curve easily and quickly, in fact, you can do it immediately and that starts with a Forex trading robot, bot for short.

What are Forex Robots?

Put simply: a Forex bot is mathematical software that scans the foreign exchange for profit opportunities and makes trades on your behalf. A Forex bot can do the work of a hundred individual stock brokers. Brokers would have to spend hundreds of man hours scanning through mountains of financial to find quality stock picks guaranteed to earn investors a profit. A Forex trading bot runs on your machine and does the same work of a hundreds brokers and does it in a fraction of the time. You can turn it on and do other things while your robot does the picking and trading work for you.

Do Forex Robots really work?

Yes, they work. However, be careful. They are some bad Forex bots out there. I link to one of the top bots out there at the end of this article. I’ve fully tested it with success. It works. But don’t take my word for it. Try the demo version and run some hypothetical picks in demo mode. Would you have made money? Run test picks for a couple weeks and discover your success rate. Is it high? If so, you now know your Forex bot works.

Is this expensive?

No. It used to be. In fact, stock pick software used to be so costly only the biggest investment and trading firms could afford to have it. Thanks to the internet and a dedicated group of traders who are also programmers the Forex bot can be had for about the cost of dinner and drinks. It’s cheap and well worth the investment because Forex bots work so efficiently and with so much success.

Discover more about Forex Trading Bots right now. You can start earning profit immediately. http://www.pagex.com/forex-bot

There are many different software being developed lately to automate trading in Forex. They are able to trade currencies without needing a person to execute trades. Automated trading is a field that began emerging not long ago.

Automated trading has number of advantages over manual trading. Such advantages for example are:

It is executed by computer. Today information technology and computer science are developed to a very high standards. Computer can perform thousand calculations while human performs only one. It work outs logical computations without error and stores memory at incredible speed.

Automatic trading takes emotions out of your trading. It will never make decisions driven by greed and fear. The software never hesitates to take a trade or close a position. All the trades are based on set rules and criteria that eliminate the human psychological errors.

Trading software can take trades day and night without weariness. It frees a trader from the necessity to be glued to his trading charts all the time. Once a successful trading system is developed and optimized into a trading robot it can be left to run independently.

On the other hand automated Forex trading robots have a major flow. They do not have the “feel” for market as a human trader does. If trading software is making profit once market conditions change it may start loosing money. That kind of change can be perceived only by a human eye. For example if behavior of the currency pair was predominantly trending and a trading robot was making profit. Once that currency pair becomes mostly ranging trading robot will lose money in such market.

Here is my personal experience with automated Forex robots. In the beginning of my trading experience with them I was constantly failing. My equity curve looked like a trajectory of falling rock. The only problem for me was that over time those programs and Expert Advisors stop making profit as they did it before.

I tried different kinds of software and Expert Advisors. Finally found what I was looking for. I have posted my trading results with this one at Forex automatic robots. I gave more detailed overview as well as trading results on Metatrader platform.

Also I highly recommend you to visit Forex-Opportunity.info to learn more about automated Forex trading. At least sign up for a newsletter to get a comprehensive trading advice

You can of course buy one of the heavily advertised automated forex trading systems online – but this one is simple to understand, free and made savvy traders millions and all you need to know about it is enclosed…

Let’s start with the ones you can buy and most have nothing to offer apart from fancy packaging and hyped copy, to appeal to greed.

They lack the basic requirement you need and that’s having made a profit. Check the track records and there normally just paper simulations done backwards!

Well that’s not real dollars and if you want a robot you want one that’s Made real dollars and the free one we are going to look at has.

Real Profits for Over 20 Years

The system has been used since the late seventies by serious traders and was devised by Richard Donchian who is considered the grandfather of trend following.

He left some great free info for traders to use and his 4 Week Rule automated trading system, is simple – but don’t believe it doesn’t make profits it has and still does. Let’s take a look at it.

The Rule

This is a one rule trading system which holds a position in the market at all times and this is the rule to execute your trading signals to.

Buy a new 4 week calendar high and reverse this position to a short position on a new 4 week calendar low – that’s the rule and it’s very simple!

Now you may be saying that’s too simple to work but all the best forex trading systems are simple but it works on logic which is valid and here it is.

Trade Breakouts

Almost all the big trends start or continue from new market highs or lows and by getting in on them, you are getting in on the big trends.

Currencies Trend Long Term

They reflect the underlying health of the country they represent so this means long trends of months or years and this system will get you a good chunk of the profits they produce.

You then have a couple of other very important advantages:

- Its objective you don’t have to think about the signal you just do it

- Its extremely time efficient and only takes about 15 minutes a day

So is the system perfect?
Of course not all systems have a weakness and this one is no exception.

When currencies don’t trend, it will generate losing signals but you can add a filter and exit on a one or two week high or low, go flat and wait for the next signal or you can use a short term moving average. This smoothes the equity curve but whichever way you choose long term this system makes profits.

The best forex trading systems are simple and this one is and don’t believe the vendors who try and sell you software with fancy names, clever packaging and a made up track record, go for the real deal and that’s a system, that’s still used after 25 years and is at the heart of many a successful forex trading strategy.

You don’t get much for free in life but Richard Donchian has left something for free, that is valuable, easy to understand and can help any trader seek currency trading success in just 15 minutes a day.

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ESSENTIAL FOREX TRADING COURSE

For free 2 x trading Pdf’s and more on the best FREE Forex Trading System and an exclusive risk free Currency trading Course visit our website.

Learning to use a forex chart will greatly improve your ability to become a profitable forex online trader. As with stock exchange investing there are several popular chart types used to visually analyse trading data. Some of the forex chart types include bar charts, candlestick charts and point and figure charts.

The forex chart can be very useful when looking to analyze markets when using technical analysis. The technical style of trading ignores fundamental factors and is only used with the price action of a market. This can be good to also remove the emotional effect trading has on your mental state.

With a forex chart you are able to see the movement of the market in a visual format. In addition to the standard chart you can add indicators or oscillators to help you make decisions about when to get in or out of your currency trades.

In case you do not know what an indicator is, it is a series of data points used to help predict movements in currencies. Some of the more popular indicators used on forex charts are moving averages, waves and bollinger bands.

Bar Charts – are quite often used in security market technical analysis. Bar charts are quite easy to construct making them quite popular. The charts are constructed by showing intra-day, daily, weekly or monthly movement as a vertical bar. Opening and closing prices are shown by horizontal marks to the left and right of the vertical bar respectively.

Candlestick Charts – were the secret weapon of the Japanese traders until Steven Nison of Merrill Lynch made the use of this chart popular in western markets. The candlestick chart is credited to Munehisa Homma, a Japanese rice trader in the early 18th century.

The candlestick is the graphic representation of the price bar: the open, high, low, and closing price of the period. The candlestick has become a widely used tool in online currency trading.

When you use the candlestick in your forex chart there are many patterns that you can learn to identify to help with your technical analysis. There are 12 you really should learn. Some of them include morning star, evening star, shooting star.

When using forex charts you should be using live data feeds. This means the data you are seeing in your forex charts is based on actual currency rates at the time you are viewing the chart.

To get your data and software for your forex charts you have free options and paid options. Quite often after selecting your forex broker you will receive some for of forex charting through their trading platform.

With the paid options you normally would pay for a data feed to construct your forex charts. This is typically a monthly subscription. You are quite often able to receive a free trial before committing to a subscription.

I currently use FXCM Trading Station and it comes with a built in forex chart. You can ask your broker what they recommend if you are wanting more advanced forex charting options.

If you are considering getting into the forex market and trading currencies I strongly recommend learning what you can about using a forex chart to help with your trading.

If you find this all too difficult you may instead wish to use a Forex signal service however this comes at a cost. It is always best to rely on your forex chart knowledge.

Looking for more forex trading information, visit forextradingonlineinfo.com. Sign up for the newsletter and receive a bonus report.

When it comes to starting up your own work from home business, there are fewer ventures better to get into than Forex trading. More and more people are starting to realize the potential this form of trading has and are enthusiastically becoming involved. But what is forex trading?

Forex trading is simply trading between different currencies from all over the world, ie. trading on the Forex market. So let’s say you use your US dollars to buy a thousand Euros. What you’ll be hoping for is that the price of those Euro’s goes up, which will intern increase your initial investment.

So how do I get started?
Before getting started, you’ll first need to spend some time educating yourself on different methods you can adopt to build a successful trading business. Too many people fail at this not because they’re not smart enough or that they’re just unlucky, but because they jump in too early, lacking the knowledge necessary to read the market.

Every successful trader has spent a lot of time studying the different ways in which to use the market to their advantage. Not only that but quite possibly the most important part of being successful on the Forex market is to find one method and stick with it!

A lot of traders end up failing because they jump from one thing to the next. They hear about someone making money using a new technique, so they try it. Then they hear another new ‘awesome’ method and forget about the one they were just using and jump on over to this next one.

These are the people who will inevitably fail. Find a method and stick to it! Sure you may lose money at first, but you’re getting invaluable experience in the process and learning more about how to use the method, which will in the end result in more of a natural reading of the market.

Looking to make money with forex trading? Get your daily dose of forex trading strategies at our free information blog.

The Japanese invented candlestick charts a few hundred years ago and they have been used extensively by traders ever since. They are basically like bar charts except they provide a lot more information. So how useful are they when used to trade the forex markets?

Well first of all I would say that it’s generally not a great idea to make trading decisions based solely on candlestick charts. Ideally you should also use other technical indicators as well in order to find high probability trading set-ups, before looking for additional confirmation from the candlestick charts. Some people do trade and make consistent profits by just trading forex candlesticks but they are definitely in the minority.

Before I discuss how you can interpret candlesticks let me first of all discuss what a candlestick actually is. In simple terms a candlestick is simply a visual display of how the price has moved during a particular time frame. It consists of a body which signifies the open and close price and two wicks which indicate the high and low point during that particular period. If it’s a green candle, the closing price was higher than the open price and if it’s red then the price moved down with the closing price ending up lower than the opening price.

This may sound fairly basic and you may well wonder how you can trade these candlesticks but there are a number of different patterns you need to learn because they can offer strong buy or sell signals.

For example, if you get several consecutive candles that all have very small bodies followed by a candle with a large body then you know that there is a strong chance of a breakout occurring either up or down depending on the colour of the bar.

Another strong candlestick pattern is the hanging man and hammer patterns. These are both strong indicators that a reversal is due to take place. They both look the same with a small body and a long hanging downside shadow. The only difference is that the hanging man is used to signify a reversal of an upwards trend and a hammer is found at the bottom of a downwards trend and indicates an upwards reversal. Used in conjunction with other indicators these are very strong signals that a reversal is imminent.

These are just a few patterns but there are many other candlestick patterns you should learn because you can gain some invaluable information from them, particularly when combined with other forms of technical analysis.

James Woolley runs a website which provides details about Forex Candlesticks Made Easy and other top selling forex products.

Fibonacci can be a very valuable addition to the tools in your Forex strategy, even if you are a reasonably new trader. Experiment with the guidelines below and learn to do the Fibonacci two-step. The level of success with this tool is quite amazing.

Fibonacci levels indicate more often than not how far price is going to go before it stalls and pulls back. It also provides a number of levels where price can pull back or retrace before moving on in the direction of the trend.

The Levels

The 4 most common retracement levels are (figures rounded off):

1. 38%
2. 50%
3. 62%
4. 79%

The two most common extension levels are:

1. 1.27%
2. 1.62%

Using the Fibonacci tool that comes with most charting packages, simply drag the tool from the most recent swing high/low to the previous swing/high or low and take special note of the 50% retracement level.

The Two-Step Strategy

In a nutshell, the Fibonacci Two-Step means you set an entry order to be pulled in if and when price touches the Fib50% retracement level, and you set your target at the Fib1.27% extension level.

However, for these trades to be high probability with minimal risk a couple quick calculations are necessary.

What is your stop value? 25-30 pips? If it’s more can your equity cover it if you lose the trade? For many traders 25-30 pips is a reasonable stop.

So before entering the trade, measure the distance between the Fib50% retracement level, your possible entry point, and the Fib79% retracement or even the 100% level. If it is more than 25-30 pips, pass on the trade. The risk is too great. If price pulls back further than the Fib50% level even all the way back to the last swing high/low, you will be in trouble.

However, if the Fib79% or 100% level are within 25-30 pips of your entry at Fib50%, you have a possible trade.

Now calculate how many pips from Fib50% to the extension at Fib127% – this will be your profit ratio. Supposing your stop is set at 25 pips, perhaps somewhere between the Fib79% retracement level and the swing point, and your target at the Fib127% extension is 36 pips, that’s a good risk/reward ratio! You are risking 25 pips to get 36.

It is often advisable to set your target 3 or 4 pips above the Fib127% level as sometimes price doesn’t quite make it before it pulls back.

Use this strategy in line with your other indicators and trade in the direction of the trend for minimal risk.

The Secret Of The Two-Step Strategy

Why is this strategy so successful? Because it’s not too ambitious.

Price will often pull back to the Fib50% level and no further. It will often go to the Fib127 and no further. So using these two levels puts one on middle ground with a higher chance of getting taken into the trade with the target successfully met.

So if you are looking to improve your Forex strategy, remember the Fibonacci Two-Step – In at Fib50 – Out at Fib127 – and dance all the way to the bank.

For an illustrated example of the Fibonacci Two-Step click here:

http://www.vitalstop.com/Forex/two-step.html

For a free Fibonacci calculator plus a pivot point calculator and the best free economic calendars click here:

http://www.vitalstop.com/Forex/tools.html

For a free candle & chart pattern recognition reference tool click here:

http://www.vitalstop.com/Forex/Candle-Chart-Patterns