Forex Software - Which to Select?

Forex Software - Which to Select?

Forex trading is becoming insanely popular so I'm glad you're hopping on the train right now... at least I'm hoping you're getting into it now, since you're reading this. If you're just curious hopefully this article will get you pumped to get into trading. Enough small talk let's get into the good stuff.

The types of Forex software I'm looking into is basically the basics. Strange sentence. Anyway we've got strategy builders, trading platforms and autopilot trading systems. Lots o' typing ahead of me so let's get into it... I'll try and make it as fun as possible I promise.

First to bat is Forex strategy building software. Quite the mouthful but the basic concept, as you may have guessed, is to build a strategy based on previous time periods. This might be useful to some folks who know the market well and want to test some stuff out. Nowadays it's pretty obsolete software though... who wants to test previous data when you can test with real-time data? Oh what are you talking about Josh? Keep reading.

Next up we have trading platforms. Seems like all the names of the software types have self-explanatory names, very clever. Basically it provides broker services to customers @ Forex. MetaTrade 4 for example has a fancy diagram on their website that explains the structure... looks complicated; luckily we don't have to worry about that (high five!).

The final one I'm going to talk about is autopilot trading systems, my person favorite. As I've mentioned before I'm lazy, very lazy to be 100% honest with you. These fancy little algorithms and applications of magic typically run of trading platforms like MetaTrader 4 and do everything for us. We spend maybe 10 minutes a day near the PC, leave it on all night and day and it works its magic. No experience or knowledge required. Less time reading more time making profits, that's what I like to hear. Thank God for mathematicians and expert traders/advisors looking to make an extra buck.

With these autopilot trading systems they have a "demo account", well any decent system does, and you can test the market in real-time to see if you can actually profit using their system. It's magical to use and watch man, seriously. And I know little to nothing about the Forex market. Why bother learn something when you can buy something to do it for you? Legal? Check! Safe? Check! Beer in hand? Check! Rock out.

Forex Trading - 4 Skills That Could Make You Huge Profits

Forex Trading - 4 Skills That Could Make You Huge Profits

If you want to learn forex trading the first fact you need to know is that it's not easy and don't let anyone tell you otherwise, it's hard. Why? Because the skills you need are ones that will make most people simply can't learn but if you can you can enjoy currency trading success.

The first skill you need is:

1. Take Responsibility

Today everyone looks for experts to help them and that's fine, if you want your car fixed but it won't help you in forex trading. You need to accept success comes from within and you need to acquire both the confidence and discipline to execute your forex trading strategy and no one else can do this for you.
Your totally on your own.

2. Stand Away From The Crowd

Since Stone Age times man has been used to seeking the safety of the pack, were also very sociable creatures and like to agree with have the majority agree with us.

In forex trading if you run with the pack you will lose because the majority is always wrong, hence 95% of forex traders lose.

To succeed you're on your own and you must not allow the crowd to sway you from your path and this is not easy, when the whole world disagrees with you!

3. Create Your Own Rules

Were used to living by rules that others make for us.

We stop at red traffic lights and we know not to drop litter etc. Our lives are structured and ordered but in the forex markets you have to create your own set of rules to live and survive by as anarchy rules.

These rules not only need to be devised by you, they need to be applied with discipline and for this you need an inner understanding of both your strengths and weaknesses.

4. The Markets will Make You Look Stupid

When you trade forex there is only one right price and that's the market price.

It makes no difference what you believe the price should be, the market price is the correct one.

It doesn't matter how clever you are or how great a trader you will take a position and the market will make you look a fool. Most traders have egos and they simply can't take this. They try and fight the market by moving stops back, revenge trading etc and the market hands them a wipe out.

Understand This or Lose!

If you have read and understood the above you will see that having a robust forex method is not enough to succeed you need to have a mindset that will allow you to execute your forex trading strategy with discipline and this is far harder.

Its not Easy But The Rewards are Enormous

Those traders who think they can consult a guru or buy a system and get given success are wrong - success comes from within and only you can get the mindset above to succeed. This requires you learn skills and when you have learned the skills you need to apply them with confidence and discipline.

If you want to be a forex trader then you need to get the right mindset - if you can do this, a life changing income awaits you.

For years now we have been using our successful strategy to place trades day in and day out. We have mastered a system that scalps the market whenever there is any price movement, and its 100% programmed and ready to begin trading for you. It’s true…. The IvyBot is one of the most revolutionary automatic robots to hit the market.