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16 December In Forex, Forex Fury, Forex Robot Nation by admin 52

Forex Fury Review: #1 EA Download

Today I want to introduce you to a Forex trading robot that is a 100% must download, Forex Fury. This software is the perfect complement for any Forex trader that utilizes the meta-trader 4 platform and is looking to gain some additional pips. With a long track record of success, countless user reviews and verified trading results, there is no going wrong with this impeccable tool.

In my 2022 updated Forex Fury review, I go through everything you need to know about this robot and what it has to offer!

The product is owned and operated by RYPAX INC. You can email support to learn more about the product at support @ forexfury.com, or by going to their website and clicking on the contact page tab at the top right of your screen. The support team generally answers emails within a couple of hours which is extremely rare in this marketplace, but I appreciate it.

Setting Forex Fury Apart From Other Robots

My personal experiences with the Forex fury robot are outstanding. I’ve been using the robot since 2015, and during this period of time I’ve been able to compound my earnings and cash out many times. Since my purchase, I’ve made back the purchase price over 100 times, and that’s no joke. To be more specific, after my initial purchase, I ran the software on a demo account for 2 weeks and then switch to live for 4 weeks. During that 4 weeks, I was able to double a $1000 trading account to $2000 using some aggressive settings packages.

There isn’t another EA in this market that would be able to double or triple an account in as little time as Forex fury can. The reason why it is so successful, is because of its specific time-based strategy. Fury utilizes a scalping methodology which enables it to pick up pips one hour a day when the market is more likely to be ranging. Frequently, you can see fury when 7 to 10 trades in the matter of minutes picking up 50 pips because it is constantly capitalizing on the small market movements during ranging conditions.

This trade logic isn’t used in other Forex robots, but it should be. I wouldn’t be surprised if you have the Forex robot sitting on the shelf that you haven’t used in years that could actually bring you profit if you used it at the right time of day. Luckily, the developers of this EA have done that research and have made sure that the software only trades in a. That is low risk and high reward.

Built-In Trading Features

One of the main aspects of the Forex Fury software that I appreciate the most, is its compatibility. With that being said, let’s go over some of the features.

 

  • Compatible with NFA, FIFO and MT4 Build 600+
  • Run It With Any MT4 Broker
  • Free Proven Settings
  • ECN Support
  • 24/7 Customer Support
  • Multiple Trading Filters
  • 5 Minute Installation
  • Real Trading Results

 

This is a shortened list that could be much longer, but I don’t want to just spout off information that you already know. One of the most important aspects here is the 24/7 support. I’m sure if you’ve ever traded in this market and tried to contact a Forex robot support team you’ve been very disappointed in your experience. So, I challenge you to email Forex fury after reading this review and see what type of response you get before even signing up. You will be happily surprised by the result, I can guarantee that.

 

The next most important element, is the trading results but that’s obvious.

 

Trading Results That Matter

In this Forex Fury review, I have to point out the transparent nature of the development team gives me a lot of confidence. They are willing to upload their accounts to my FX book and show the world exactly how their software trades on a daily basis.

 

My favorite account is this one, which has been running for over 8 months and has yet to lose a single trade.

This account is in line with the results that I’ve had, and it shows exactly how a specific time-based strategy can have such a powerful impact. Instead of fighting against the market, this EA uses knowledge of the market to the advantage of every client.

 

What Are People Saying?

If all the features and the results aren’t enough to prove how reliable this software is, then you don’t have to look any further than the customer reviews. Forex Fury has done nothing but stockpile positive user reviews on Forex peace Army and Forex robot nation ever since its release just under 6 years ago.

 

The common thread with all of the reviews, is that traders are extremely happy that the system performs in line with the trading results that can be found on the home page.

 

This is rare, and another reason why the robot sets itself apart from so many others.

 

FAQ

  • Is Forex Fury Worth it? Yes, absolutely. Forex Fury is a proven automated trading robot that serves over 8600 members. It’s rated 4.5/5 stars on SiteJabber, and 4.4/5 stars on Trustpilot. The EA has been on the market since 2015, and continues to improve every year.
  • What is the best Forex robot? In my opinion, Forex Fury is currently the Best Forex Robot on the market. It has proven trading results, and the creators are willing to trade the system on live trading accounts because they believe in the product.
  • Is Forex Fury Easy to install? Yes, the members area comes complete with videos, guides, settings, and rules for best performance. The support staff will also help you with any issues you may have and they are available 24/7 via email.
  • Is Forex Fury a Scam? NO! This is a trading software. The vendors do not make any guarantees of future profits, and they verify all of their own trading results. This does not mean that every client that uses Forex Fury is going to be profitable, but there is nothing illegal, or shady being done with this product.

 

Conclusion

Forex Fury deserves the 5 star review that I’m giving it today. This strategy and unique methodology is exactly what the Forex market needs. My hope is that other robot developers sees exactly what the developers of this system have done, and utilize the same sort of streamlined process that is being used here today.

 

For more information on Fury, check out the official Facebook, Twitter, LinkedIn. There’s also a few impressive blogs dedicated to this service as well, WordPress, Weebly, Blogspot. There are all good sources.

 

Thank you for reading the review, and feel free to leave a comment with your thoughts.

See Official Site

 

19 November In Forex Robot Nation, Forex Steam by admin 66

Forex Robot Nation is the Ultimate Resource

Today I want to walk you through the website and the community that transformed me into the trader that I am today, Forex Robot Nation. There’s many ways you can utilize this website to your advantage, and that’s what I like about it most. If you are an avid market watcher like myself, it’s important to have a review website with an active community like this one so you know exactly what traders are using in the current climate.

The website is run by PatrickFX, a trader with over 15 years of experience in the Forex marketplace. In 2009 Patrick decided that he would take part in the automated trading boom, and hasn’t looked back since. While the majority of trading robot review sites have fell off, Patrick has continued to run Forex Robot Nation because he truly believes in automated trading and has discovered some of the most popular Forex robots ever to be used by the trading community.

 

Forex Robot Nation Review

The Forex Robot Nation website offers so much to the Forex trading community. They pride themselves on providing actual tools and content that will help traders achieve new levels of success, and I’ve personally been rewarded by this fact. They release a new review every 24 to 48 hours, so there is always new content to consume. The majority of the reviews are on Forex robots an expert advisors but they will also include binary options systems, Forex indicators, Forex Mentor groups and anything else Forex trading related.

 

When the website first started, it was focused solely on Forex robots, but over time it’s developed into a much larger and more effective entity.

 

There are 5 main pages that I visit frequently on the Forex Robot Nation website.

 

  • Front page
  • Best Forex robot tests
  • Best Forex brokers
  • Members area
  • Binary options lab

 

First of all, you can’t look past the front page of the website. The first page is excellently crafted because it has the top 3 highest rated trading systems right at the top, followed by all the latest news and Forex robot trading. I really like that they keep products like Forex Fury and Forex Steam at the top of this page, because it keeps me involved in the conversations being had by current traders that are always looking for new ways to profit and grow their accounts.

 

Then, of course the Best Forex robot tests page keeps me up to date on what PatrickFX is currently using, and the same goes for the Best Forex brokers page.

 

The members area is what got me started in Forex, but I’ve since found that it hasn’t been updated in a while. The Free robot still works though, and it’s a great way for traders to dip their feet in the water and get a taste of automated Forex trading in MT4.

 

Community of Testers

 

Forex Fury and Forex Steam are the two main trading systems that I subscribe to, so I can never get enough information on all the tweaking and testing.

 

Traders are always playing with the different functions, and features to create new strategies, and if you spend the time to read these comments, you will be able to have some pretty outstanding months.

This is a recent conversation in the Forex steam review comments section, that shows traders are testing different pairs and sharing their knowledge with the rest of the community. I can’t tell you how many times I’ve gone into the comments section of a Forex robot review and come out with a new trading strategy that makes me steady profits for a few months. The point I’m trying to make here, is that you need to take advantage of the resources right in front of you.

 

Forex Robot Nation has done such an incredible job at putting together like-minded individuals focused on growing their Forex trading accounts using expert advisors. If you utilize this information properly, you can easily automate your trades and grow your accounts.

 

Just don’t forget to check back from time to time to see what’s new and what’s working for the community in current market conditions. This testing process is probably the best thing offered on the entire website, and it’s just developed naturally over time.

 

Other Forex Robot Nation Resources

 

Forex Robot Nation also has a very strong social presence. You can find daily updates on Facebook, Twitter, and their YouTube channel. All of which have thousands of subscribers, and active users discussing Forex robots.

 

I don’t spend too much time with the social networks myself, but I understand that it is a very helpful way to reach out to the community. I do like seeing the latest posts pop up on my Facebook feed, because it’s a reminder that I need to get off of Facebook and focus more on my trading.

 

I do like the YouTube channel as well, but I notice they haven’t done a video and the last couple of months. So I’ll probably email PatrickFX and tell him that I miss his voice!

 

Conclusion

 

If you are interested in automated trading, Forex is the only market that has sustained success in this regard. In 2009 there was a huge boom where the Internet was essentially going Forex robot crazy. During this time, there were marketers galore trying to push trading systems and collect easy profits from a gullible and naïve Forex trading community. This left a lot of people with the sour taste in their mouth, but in the end it was all worthwhile.

 

Now, 10 years later Forex robots are better than ever and helpful websites like Forex Robot Nation have stuck around to help develop and enhance automated trading for everyone. So, go check out what the experts have to say, and have your say too by contributing to the community in 2020.

 

20 June In Forex Steam by admin 132

V10 Update (Now Available)

The long awaited release, Forex Steam V10 is now available. It’s recommended that all current clients go to the members area and download it.

This post will go over some of the different changes, and let you know how to install it properly.

 

V10 Installation

Installation is quite simple, and much like the old installation with one addition.

 

  1. Download the files in the members area.
  2. Open MT4/MT5
  3. Click File > Open Data Folder
  4. Copy and paste (drag and drop) the ex4/ex5 files into the MQL4/5 experts folder
  5. Go into MT4 and right click and hit refresh in the experts folder
  6. Drag and drop Steam v10 onto your chart

Authentication is a little different now, there is an added step. There is also a brand new authentication video on the authentication page.

 

  1. Open MT4/MT5
  2. Click Tools > Options
  3. Go to Experts tab and tick Allow WebRequest for listed URL
  4. Then enter https://www.forexsteam.com (do not make any typos here or it won’r work, just copy it from here)

V10 Updates

 

Now that we got that out of the way, let’s dive into the actual changes that V10 offers.

 

  • The first notable change is that the software is now compatible with both MT4 & MT5. This is a step that we wanted to take so that we were ready for all future updates. This wasn’t an easy process for our developers to take a system that has thousands of lines of code, but they did an excellent job, and it shows.
  • Next, is the insertion of maxspread. This feature is the perfect addition to the Forex Steam strategy. As the market fluctuates throughout the day, so does your spread, and often times it gets quite high. During this periods we don’t want the system to trade, and that is what maxspread allows us to do. It will now avoid market conditions when the spread isn’t favorable, when activated. You should monitor your account throughout the day to see what the average spread is though, and don’t set this function too low or the system won’t trade often enough for you.
  • Major market updates. With every update we do major market tweak based on the work of our dedicated analysts. Our team sits down and decides the direction and forecast each pair. This data, works alongside the built-in strategy of the Steam system to provide better trade opportunities, and avoid the market when it is not in our favor.
  • We removed the News Filter, with years of data behind us, it was apparent that this filter got in the way of more wins than losses.

 

Conclusion

 

This update will set us on an expert course in 2019, and beyond.

Thank you to the many clients that have been with us during this 10 year journey.

If you have any additions you would like to see added, you can comment on our socials (Facebook, Twitter, LinkedIn)or email us. We are always receptive to the views of our clients, as you have helped us get to where we are today. There is no way our software would be as profitable as it is, without the help of this community.

Go now, and enjoy V10!

 

 

 

 

07 February In Forex Steam by admin 214

Forex Steam Time Restricted Strategy

If you are a client of Forex Steam, or you’ve followed the progress of this EA from the sideline, you likely would have heard of a new way of using the robot and profiting. This is of course the time restricted approach, trading Steam from 0:00 to 06:00 GMT during the asian session). This strategy has proven to be very effective using multiple pairs, and adjusted TP / SL settings.

This strategy discussion is exclusively for Forex Steam Light (our preferred version).

Step By Step Process

First, you will want to go into your MT4 platform. Then, once you’ve opened MT4, Right click on your chart go down to “Expert Advisors” > “Properties”

Once you have entered the properties section of the Forex Steam software, you can start modifying the settings. This is where it gets a little complicated, but it is still not difficult to complete. Especially, if you have prior experience with Steam, or any other robot.

The next step, is finding out your broker GMT offset so that you can properly set the EA to trade 0:00 to 06:00 GMT each day. So, ask your broker for their GMT offset, or find it online.

Once you have your GMT offset, you will add this to the trade window. Here is a list of broker GMT offsets, and how you should set your EA to trade with the time restricted approach.

GMT Offset Times

  • GMT -1 = 11:00 – 05:00
  • GMT 0 = 0:00 – 06:00
  • GMT +1 = 1:00 – 07:00
  • GMT +2 = 2:00 – 08:00
  • GMT +3 = 3:00 – 09:00

This is how it looks:

You can see that the 0000 and 0600 are set for every single day. This change has to be made on each day for it to trade during this period on each day.

Once you have made these changes, you are set, the EA will start trading only during these times.

Additional Pairs

Many traders using this strategy are running it on many different pairs. Here are some of the reported pairs that clients are having success with.

  • USDJPY
  • USDCAD
  • GBPUSD
  • GBPJPY
  • EURUSD
  • AUDUSD

Feel free to pick / test a grouping or all of these pairs to see what you prefer. I recommend picking 3-4 pairs, and splitting them up over multiple accounts, if you have the accounts available to do so.

Additional Settings

Clients have also reported changing multiple settings to have more success with the restricted time approach. Here are some of the settings changes that can be chosen from. Of course you can test your own modifications as well. With these settings the Pip Retrace is set to FALSE. As for some basic setups with the current approach, see here:

  • SL = 60, TP = 6
  • SL = 50, TP = 5

These settings are changed in expert advisor properties, the same place where you entered the time.

Final Thoughts

We are always willing to listen to our clients and find other ways to utilize our services.

I hope that this new strategy will help you grow your accounts even more with Forex Steam!

19 July In Forex Fury, Forex Robot Nation by admin 48

Scalping with Forex Fury in 2018

Scalping, is really a trading technique used to indicate the earnings out of small Forex positions, by going in and out from positions repeatedly each day. Scalping isn’t like day trading where the traders are use to opening a position and closing it back again throughout the current day. To put it differently never holding a position in to another trading time period or even holding a position over night. Forex Fury scalp traders  may look for ways to consider a position a few times, or perhaps a several times each day, they tend to be more non-stop traders and try to earn small profits several times within a session. This continues to be the case with Fury in 2018.

 

Day traders might trade off the actual five-minute and also the 30-minute charts, where scalpers will most likely trade off of a tick chart and the one-minute chart. Particularly, a number of scalpers prefer to make an attempt to capture the high-velocity movements that take place around the time of a release of economic news along with other significant news events, for example the release of the employment data or Gross domestic product (GDP) releases, if it has a massive price action movement .

 

What it takes to be a Forex Fury scalper in 2018?

Scalping is not really for everyone: You need to have the actual personality to become a scalper. Scalpers have to sit in front of their own computer systems for the whole session (unless they use a system like Forex Fury), plus they have to have fun with the extreme concentration that it takes in order to scalp. You can’t take your attention out while you are scalping a small move. Even though you think you’ve got the personality to take a seat in front of the computer all day long, or even all night if you are an insomniac, you’ve got to be the type of person who is able to react immediately. There’s really no time to think. To be able to take a quick action is a required key for a scalper success.

 

What is Forex scalping?

 

A trading technique utilized by foreign exchange traders to buy a currency pair then keep it for a while then sell it for a higher price  in order to make money. A Forex scalper is looking forward to produce a large number of trades and earn a little profit every time.

Forex scalping in general involves huge amounts of leverage to ensure that a small change in a foreign currency equals a decent profit. Forex scalping technique strategies can be a manual executions which requires a trader to look for signals and take action accordingly whether to buy or sell ,or an automatic trading plan, were the trader use a bot (a program which is used in the trading platform) to trade.

Scalp trading definition

 

Scalpers are the trading technique that aim to profit between 5 to 10 pips through each position, they trade and continue doing this procedure again and again the whole day using high leverage and quick trades with only several pips profit at any given time, especially, if the system you are using tend to be profitable and could be repeated many times during the period of the day. In fact, Forex Fury looks to win about 5 pips per trade, while Forex Steam looks to win 10, so you can see, they are both scalpers.

 

The advantages and disadvantages of Scalping

 

Scalping is actually extremely fast paced. If you would like the experience and wish to focus on several minute charts and  perhaps you have got the persona in order to respond quickly, and also have no compunction in getting very quick losses, not more than 2 or 3 pips, then scalping could be suitable for you. This type of approach is suitable for those that can follow my 20 Factors For Forex Success.

According to fast trades and the total number of trades per day, you can earn a lot of money, of course if you have a good strategy and following a precise money management technique, leverage is a double edge sword that can make you a lot of money as well as losing it. This is where money management comes into play, which is an important aspect of the Forex Fury software.

 

How to Setup yourself for Scalping?

 

Setting up to become a scalper requires that you’ve got really good, dependable accessibility to market with a platform which allows for extremely fast trading. Normally the platform will have a buy and sell press button for each and every currency pairs, to ensure that all the trader has to do is click the right button either to enter or exit a position. Inside liquid markets, the execution can occur within a fraction of a second.

Keep in mind that the Forex market is really a worldwide market and it is generally not regulated, despite the fact that efforts are being made by governments as well as the market to introduce legal guidelines that would manage foreign currency trading to some extent.

As a Forex Fury trader, it really is your decision to analyze and also understand the broker agreement along with what your responsibilities are . You have to focus on just how much margin is needed and what the broker is going to do if positions go against you that could perhaps absolutely close your account with them if you are so leveraged.

Keep in mind when Scalping.

 

Keep in mind, scalping is normally high-speed trading and for that reason it demands lots of liquidity to confirm fast execution of trades. Just trade the major currencies in which the liquidity is actually biggest, and also only when the volume is extremely high, for instance when the two London and New York are trading.

When Not to Scalp?

 

Do not scalp if you don’t feel really focused for whatever reason. Stop trading when you have a chain of losses and give yourself some time to regroup. Spend some time on a helpful website like Forex Robot Nation, to help you recharge. Don’t try to have revenge with the market. Scalping might be fun and profitable, but it may also be stressful and tiring. You have to be certain that you’ve got the persona in order to indulge in high-speed investing. You’ll learn so much from scalping, then by slowing down you might find that you could even be a day trader or perhaps a swing trader due to the confidence and practice you might get from scalping. Bear in mind though, scalping is just not for everyone.

 

Now, let’s re-establish some of our goals with Forex Fury’s scalping mechanism.

 

What is a Forex scalping strategy for investment?

 

The strategy Forex scalping is a trading methodology that uses frames shortest available time for 1 minute, 3 minutes and 5 minutes periods. Forex scalpers focus on very small price movements and evade volatility as a primary consideration. They seek negotiating positions that allow them to perform multiple operations in very short periods of time while the orientation is small gains from 1 to 5 points each time.

 

Scalping Forex compared to traditional strategies

 

For example, while the main purpose of a more traditional Forex Fury strategy can perform three operations per day with 100 pips each objective; Forex scalping strategy try to make hundreds of small action in similar time periods, and pointing just 5 pips every time you invest in Forex. As you can see, the first strategy could produce a maximum benefit of over 300 pips against the forex scalping that the ideal would be 500 pips.

The bigger the risks involved

 

However, in order to obtain optimum results for scalping Forex strategy implies that users have to risk more pips than other strategies so that the benefits are worthwhile and can be produced using Forex scalping. As such, this implies that investors should put at risk more than 2% of its total capital investment; this way of investing in violation of the main concepts of higher risk and money management strategies in Forex.

 

When you are using Forex scalping?

 

The Forex Fury scalping strategy usually recommend when you should try to negotiate currencies during periods when trade patterns tend to be more predictable and volatility levels are much lower. As such, the time period that is normally chosen for this trade is between 17:00 and 9:00 CET during which major countries such as the US, UK and the euro zone, generally do not release significant economic data.

 

The most important components to consider

 

In order to achieve consistent profits a Forex scalping strategy must have both a high ratio to win even if you lose sometimes, and stop-loss strategy well tested. However, the use of such parameters usually means that the resale applicable in this strategy Forex relationships also have very poor risk-reward.

 

Justification for a Forex scalping strategy

 

Still worth developing or designing a strategy for Forex Fury scalping if we only have a very bad relationship between risk and reward? Yes it is, if the following example is taken into account. For example, suppose you have selected a target profit of 5 points and a stop loss of 100 pips per trade. Considering the possibility of scalping Forex strategy produces a 98: 2 to win between loss. However, although their risk-reward ratio will be very bad in 100: 5, nevertheless it would make a profit equal to (98 * 5) – (2 * 100) equivalent to 290 pips. However, although this sounds impressive you must also realize that only two additional losses are needed to reverse this result almost completely killing all the benefits of Forex scalping strategy.

24 October In Forex Robot Nation, Forex Steam by admin 45

Trading Tips by Forex Robot Nation

Today I’ll be bringing you some tips I’ve collected from reading the Forex Robot Nation blog. I hope that these help you become a better trader, and that you listen to them.

 

If you want to invest into something that might actually be worth the time and effort, perhaps you’d consider getting into Forex trading. This is really a good way to earn money, even without doing a lot to realize it. But diving head-first into the world of Forex currency trading without knowing anything about it could be very dodgy, and this can cost you everything that you’ll invest in this endeavor. To become successful in this field, you need to know some of the best tips that will not only aid you in making money, but will guide you to long run achievement in Forex trading and discover the best job to work from home with currencies.

 

There are actually a lot of foreign exchange tips to help you earn cash in currency trading, but only some of them are handy. You also need to filter the tips that would apply to your current position, and would essentially lead you to success. Forex Robot Nation will guide you through five of the finest currency trading pointers that may help you make cash, and ultimately make your venture into the arena of foreign exchange a success.

 

Tip 1: Don’t Bet

Forex trading and gambling are 2 different things, and the second should never be used with the previous. All your moves and actions in Forex trading methods should be calculated in order to avoid losses. Naturally, there are times that even if you calculate your moves, you’d still incur losses, but at the very least you did not lose huge because of your unwarranted hunch. Attempting to trade without research and market study is like playing a game of chance. That’s why I rely on automated robots like Forex Fury to help me avoid guessing. Of course playing a game is quite fun and fascinating, if it is still as a game and not a real-world event.

 

If it involves money, as you’d be expecting with currency trading, this already turns significant, so losing your money will not actually be fun any more. Do not gamble even a cent without thinking your moves through first. You could get fortunate at some examples, but as you continue with your non calculated moves, you’ll run right out of money a lot earlier than you think.

 

Tip 2: The present trend is your best guide

If you’d like to be successful in the sphere of Forex trading, always go with the trend, especially if you are just beginning to understand about things related to currency exchange. The trend is indeed your buddy, because this’ll help you maximize all of your probabilities for success. Naturally, there are examples that you’d like to trade against the trend, primarily based on your calculations or your projections. There are many good guides at Forex Robot Nation on how to detect the trend. Yet, going against the trend would require more attention from you, whereby you’ll need to have nerves of steel and sharpened abilities to reach your. You can try to go against the trend once in a while if you have recently assembled a good amount of experience (and with some luck, a good amount of money) while you were trading with the trend.

 

Tip 3: Trade with a quiet, poker face

 

When you’re trading with your feelings, you’re subject to risking all you have because you are disappointed with how things are going. You’d also be more reluctant to take risks, whether or not you are going with the trend, because you are feelings tell you that you are just taking a chance on your investments. Being wary is not actually a difficulty, but doing so the majority of the time won’t truly bring you anywhere. Keep a calm controlled face and make reasonable moves to avoid digging a deeper hole for your forex account. Never try and do revenge trade, or attempting to revenge a lost trade in only 1 go. When you’re winning, don’t be greedy and put all your eggs in only one basket. Always remember to think clearly so as to avoid overreaction, as it might clearly cost a lot of cash at the end.

 

Tip 4: Do your trades on the right time frame

 

One common blunder that may lead to great loses apropos foreign exchange trading is not selecting your most comfortable time. Forex trading is just like other duties or activities that you have in your life. If you happen to feel that you are not in your component, probabilities are high that you’d be doing bad moves and be making bad decisions. Select the appropriate time frame so you are snug enough to investigate the market. This way, you’d be well placed to place and close orders at your own speed.

 

If you don’t have the time? That’s okay too. There are tons of EA’s available at Forex Robot Nation that can trade for you. This is another very effective method that’s often overlooked.

 

Tip 5: Practice with a Currency exchange practice account

 

Before you invest your money, you must first have an idea the way the foreign exchange system works. In Forex trading, you will be able to know more about these by practicing on a Forex Demo account. Never invest all of your money into a real Foreign exchange account without testing out the demo account. If you do, then you’re doomed to fail as you really have no idea what you do. By utilizing a Forex practice account, you will be able to gain information and build discipline as you practice trading.

04 October In Forex, Forex Fury, Forex Robot Nation, Forex Steam by admin 41

20 Factors For Forex Success

 

Today I’m going to give you 20 steps, or factors that will help you become a better trader. I look at the emotional elements of Forex trading, and other elements that you should pay close attention to in your trading process.

  • Confidence in a plan

    What percentage of your exits are: at your price target at your stop loss somewhere in between the two above? If a large proportion of exits fall into option c., then you are saying that you don’t have much confidence.

 

  • Top forex traders keep score

    Top forex traders know what works best for them. They don’t guess, they look at the numbers. Specifically, they record data about set-ups and their trades and then analyse that data. So, for example, they know what’s coming next.

 

  • Forex trading: If you think you are beaten

    As you start trading, you will get knocked down, over and over again. You will come to learn that Forex trading is less of a sprint and more of a marathon. You need a strong mind to succeed.

 

  • Forex trading: Anchoring your emotions

    During times of trading turbulence, it is essential that you are able to keep your emotions in check. This will allow you to stay in control of your processing faculties and maintain your normal levels of self-confidence.

 

  • Manage your emotional state

    In your trading, there will be times when you feel totally in control and others when you feel totally dysfunctional. This can be when you are experiencing emotional states such as irritation, guilt, anger, frustration, doubt, fear or greed. Luckily, we don’t rely on emotion much here, because we focus on systems rated highly by Forex Robot Nation.

 

  • Forex trading: our perception becomes our reality

    How we think determines how we act. A person who sees a glass of beer as half-full is someone who perceives a world of plenty. The person who see a glass of beer as half-empty is someone who perceives trades negatively.

 

  • 4 common faults of novice traders

    The 4 faults listed below arise because Forex trading is such a counter-intuitive activity. They are easy traps to fall into and very difficult to resolve. The desire to be rich In most areas of work can get in the way.

 

  • How to handle losing Trades

    It’s a fact that your forex trades will be a mix of winning trades and losing trades. How you deal with both types of trades is a measure of how successful a trader you will become. When you have a losing trade, you need to learn how to bounce back. That’s one of the main things that I like about a system like Forex Fury. This software scalps, and while it almost never loses, when it does lose, it comes back very strong, and quickly.

 

  • Three Trading Losses

    How many consecutive trading losses will you take before you feel compelled to correct your approach? Is it three consecutive trading losses?That seems to be the average number. And what is it that you do to correct your approach?

 

  • Feeling good about losses

    You can feel good about losses if you understand that trading is a game of probabilities. First of all, you need to ensure that you have a trading edge. This means that you have a strategy that has momentum in either direction.

 

  • Motivation to Change

    Many traders engage in destructive patterns of behavior which seem to enslave them. Why do they continue on the self-destruct path? It’s because the pain of continuing on that path has not yet exceeded their perceived pain of change.

 

  • Goal setting

    Climbing a mountain starts with small steps, perhaps even practicing those small steps on a gym wall. To be a successful Forex trader, you also need take small steps and ensure that you are constantly learning.

 

  • Learning optimism

    Do you sometimes blame your Forex trading losses on an external force? Do you believe that the Forex markets are manipulated or that brokers go stop-hunting? If you do, you are not alone. Knowing that others have the same though process, will only help you in vindicating these feelings.

  • Optimism

    If you lost your wallet (or purse) while shopping, how would you react? Would you be a pessimist and not bother telling the police, assuming that the finder will keep the money inside. Or would you be an optimist and believe that you will get it back?

 

  • Taking steps towards goals

    Most traders can identify areas to improve. However, few traders actually have a process for implementing the steps necessary to achieve the improvement.

 

  • Important goals

    Imagine that a trader friend of yours has a lifetime goal of owning a Super-yacht and it is this goal that motivates their working day. If owning a Super-yacht doesn’t float your boat, it’s an impotent goal for you.

 

  • Following the Rules

    Following the rules is difficult. To maintain your self-control. you need to know at a CONSCIOUS level what you are feeling and saying to yourself. It is only when you are aware of what’s going on internally that you have control over the external.

 

  • Quiet markets reveal the best traders

    I used to race sailing dinghies as a young man and it was obvious that anyone could get around the race circuit when there was a decent wind blowing.

 

  • Different states produce different behaviours

    People generally behave differently when they switch from one emotional state to another. Shifting from a calm state to an angry state can result in behavior that would not be normally seen.

 

  • Your trading processes

    Your trading processes are the way you approach your trading. They are not something that you think about once, write down and then implement. They are actions that you develop and refine as you practice your trading.

 

I know that some of these thoughts weren’t flushed out, but moving forward that’s something I’ll work on, and certainly add to. Either way, thanks for reading, and as an aside, join with Forex Steam today.