Typically Forex signal services provide automatic alerts to enter trades, however, most of these signals are not precise as they involve signals from an automatic system or EA without expert market analysis. Tal Abraham (Abe) of Abe’s Forex Signals offers his members the possibility to follow his own trades (not just a robot).
Traders are connected to Abe’s Forex Signals via chat or via charts as well as a live webcam which allows members to constantly follow him while he is analyzing and performing trades.
No other signaling service online offers such a high level of transparency and accuracy. So if you’re looking for reliable signals, from a human source, updated in real-time with full supervision and hands on about what is happening, then Abe’s Forex Signals is the right service for you.
Abe has been a trader of Forex, stocks and commodities for the past 17 years and as a member you now get a unique opportunity to follow his every move and learn from one of the best in the business.
If full transparency and consistent profits is the way forward for you, sign up at Abe’s Forex Signals and see the results.
Tal Abraham (Abe) trades on a daily basis against his own automated trading system. All of the signals provided by both Abe and his system will be available for his members to copy to their own account or have an automated trade copier do it for them.
Click Here to find out more about Abe’s Forex Signals
Looking up the term ‘forex‘ on the internet will deliver millions of results and if you start delving into some of the articles on the subject of Foreign Exchange Trading I guarantee that you’ll see a lot more success stories than failures. On the surface it can appear that forex trading is a sure fire get rich quick scheme. However nothing in life is so certain and the key to being a successful foreign exchange trader starts with getting a good forex education. If you think you can pick it up as you go along then you’re well on your way to becoming a forex trading disaster.
Forex training courses are a great way of dipping your toes in the water, so to speak, as you’ll get to play the foreign exchange markets without risking any money. This is called ‘demo trading’, in which one sets up a trading account but instead of actually playing the market with their own money, one instead pretends with monopoly money. This is a perfect way to practice forex trading and hone your skills without risking your home, or your beer money.
Quality forex training is not free, although there are plenty of supposedly ‘free’ courses online; many of these are nothing more than a few articles and anecdotes bearing little resemblance to a ‘course’. If you want something worth its salt, you’re going to have to pay for it, however this is a worthy investment as opposed to blindly trading with no experience or education. Don’t be taken in by forex trading software either. These claim to monitor the markets for you and can automatically buy and sell for you when the time is right, but these are of no use to the inexperienced trader.
The only way to be successful in foreign exchange trading is by getting on a decent forex training course. Out of all the forex training courses available, find one which offers a broad syllabus, covering all aspects of currency trading such as trading analysis, trend spotting and strategy development to using trading software to help you better monitor the markets. A sound forex education will also prepare you for the inevitable losses which every forex trader will experience.
Remember, forex trading is not an instant money maker; it’s a job which one works at. The harder one works, the better the rewards and getting a good forex education will give you the best start you can get in experiencing the joy of forex.
Barry Summers
The Joy of Forex
During these days of recession everybody is looking for ways of making money.
Some are looking for part time jobs to increase their income and others want to start some small business.
Not many people know that forex Market offers opportunities to everybody. forex Trading can Make you as well as Break you if you don’t know how to trade.
To make money through Forex you need to first learn how its done. You can buy many forex Trading Courses on Ebay as well as online but it costs money and many of us are reluctant to part away with our hard EArned money.
Luckily Dr. Zain Agha has written a 7 part Forex Trading Course and he has been giving it away for free to those who are really serious about entering the Forex World. You can get it for free from his website. Search on Google for Luckytips and you will find his website. Just fill in your name and email address and then you will receive an email asking you to activate your account. Once you click the link to activate your account, you become an Opt-in Member. You will be sent a 147 page ebook on Forex Trading plus you will receive one part daily of the 7 part Forex Trading Course for the next 7 days.
Now lets come to the crunch. Why I say Forex Trading can Make you or Break you. You must think seriously before entering the Forex World.
Here are the Pros and Cons For and Against Forex Trading.
Why should you Trade Forex.
This is the most Attractive Home Business.
What is so attractive about Forex Trading you may ask.
You can make big money working only a few hours a day on your computer.
You can trade from anywhere. If you like to travel, this is a Dream Business. Take your laptop with you and you can trade the FOREX and make money anywhere in the world where you have an internet connection.
You can make money when the market is going up or down.
Start-up costs are low. Forex offers up to 100:1 leverage.
No need for Staff. No Inventories. No Hassle.
Forex is the worlds largest market with a trading volume of around $1.9 trillion dollars a day.
The Money is Out There. All you need to grab it is to know How To.
and the How To, you need to learn a Method and stick to it.
How can Forex Trading Break you.
This is the main purpose of writing this article to warn the Naive people who think Forex is like a Garden with trees growing Currency notes instead of leaves and all we need to do is to pick some leaves/money everyday and become Millionaires within a few months.
This is what most Forex Gurus make you believe in. But in reality its not like that at all. Although Forex Market is a very lucrative Home Based Business but we as humans have emotions and it is very difficult for us to control our emotions. Because of our Emotions we lose money. 95% of the Traders lose their money. Forex Trading is so addictive that once you are in it, it will become very difficult to get out of it.
The Emotions that come into play are FEAR and GREED.
Here are some examples of what happens when you are in a trade.
You buy a Security, the price goes up, instead of taking the profit you think the market will go up further, it does go up a little and you tell yourself you are a Genius, you forecasted right, the market will still go up and it went up.
Now instead of taking the profit now, you become more Greedy and say to yourself, the market will go further up and you will make more money but the market starts retracing and going down, you say, no problem let it go down, its taking a breather, the market is correcting itself and it will come back up.
But the market continues going down, you dont know that some adverse news came up and the Market started falling. Now you start losing as the market keeps going down. it continues down and down, you panic and get out of the Market with a loss.
This is one way one loses money by being Greedy.
The second emotions we cannot control is FEAR.
Here is a Scenario.
I buy a Security thinking it will go up and even the system that I have tells me to buy. OK I buy, the market starts going down and down, I panic and exit with a loss, fearing of further loss, only to find that the market actually started going back up and had I stayed in the Market I would have made some good money.
But because of my Fear of losing, I in reality did lose
So the Emotions play a big part in once Success.
One more reason why most people lose.
There is a vast majority of traders who do realise that Emotions are the cause of our losses and they need robots to trade for them as Robots are computer programmed softwares that do not use emotions.
And there are thousands of Robots in the Market. Every week we see at least 2 to 3 new Robots coming out and promising of making Vast sums of money for us. All we need to do is buy it for $97.00 and make Millions..
These Robots do make money initially for a few days or weeks and then comes a time when the market never retraces once we are losing and the losses keep increasing with time.
Most of the Robots do not have a Stop Loss built in and those that do, have stops of 1000 pips. That means if the trade goes against you, your account will either get wiped out or you will lose $10,000.00 in just one day.
This happened to me personally. During my early days of trading I purchased a Robot that was making me $200.00 about 3 to 5 times a day. I started trusting that Robot and stopped monitoring the trades. I went out one day to do some shopping and when I returned I noticed that I am losing more than $8000.00
And this was my Live Account with Real Money.
Since that day I never took Automatic trading seriously.
I did purchase a few Robots and put them to Test by Demo Trading and found that eventually one day it takes off you more than what it gave you.
Sorry Robots are not for me.
These are the pros a cons and now you have to decide, would you like to become a Forex Trader?
A word of Warning:
If you do decide to become a Forex Trader, first Demo Trade for at least 2 months with fictitious money and only then open a live account with real money that you can afford to lose. Never use the money that you have saved for your retirement or for any other purpose.
Wish you best of Luck,
Maria
Can Forex Trading Make You or Break You?
Summary: forex Auto Pilot is an old, and well established work-horse. 93). It is the cheapest I’ve seen so far. Downside is that when it makes a loss, it is a big loss. I’ve seen it make 20 $20 profits in a row, then make 1 $200 loss. I’m not saying “no” to it – I’m probably only saying maybe – or “definitely yes” if you also buy Fap Winner so that they can advise you on the best settings to run it with. $97 – 60 days money back guarantee.
Forex Auto Pilot was a sophisticated automated forex trading robot in its day.
Now the vendor pushes more his Fap Turbo product – at double the money. Forex Auto Pilot has been around a long time – 9 years. And it has the largest user base of 37,000 installs.
It runs on the Meta Trader 4 platform. Fully automated as the name implies, the robot makes it ideal for people looking to profit without spending hundreds of hours at their computers learning Forex.
Forex Auto Pilot, like all Expert Advisors is a custom set of trading rules to be executed when it sees certain trading conditions are met. If it does not recognise market conditions it likes, it does nothing.
So you install MetaTrader4 (free), and copy the Forex Auto Pilot file to the experts folder in MetaTrader4 (MT4), click a few buttons and you are up and running.
That’s the beauty of the MT4 metatrader platform. You can have multiple Forex robots, EAch working a different chart – each chart working a different currency pair. A copy of Meta Trader 4 is included with Forex Auto Pilot, and the first thing metatrader does on start-up is check if it is the latest version.
With Forex Auto Pilot everything comes set at “default” and you are recommended to leave them that way until you have tested it on a demo account/s with your broker or brokers of choice. Leaving it to run while you read the user guide and other forex materials is interesting and fun.
Here are some details worth keeping in mind as you consider Forex Auto Pilot.
The user’s guide is 74 pages and is well written. It steps you through the installation and activation of the software quite nicely. Also on how to back test it against historical data. Back testing does confirm similar results as those claimed on the sales page. But back testing is not everything – nothing like live testing to know for sure, which is why demo accounts exist.
After purchase you’ll also receive an ebook to understand the mechanics of the Forex market. This book is a general guide to Forex and can be used with any forex system.
The retail price of $97 USD is probably fair – it is old, and there are better Forex robots around. When I say it is old, it works on the most up-to-date trading platform – MT4.
And trading strategies are timeless. However, algorithms developed by people over time do improve. New strategies do get developed.
Universally true for all reviews on this website – all Forex robots come with an 8 weeks unconditional 100 of profitable trades is incredibly high – though not as high as others. And it does incur some pretty large open trade draw downs (DD) to achieve this. What this means is that while it may have closed the trade at a profit, during the life of the trade maybe the market went against it and the trade was in the red (loss) for sometime before returning to close at its profit.
However, historical tests would indicate that over the long haul the many small wins will out pace the few large loses provided you’re willing to ride out the losing trades.
Although Forex Auto Pilot does place ‘take profit’ orders at 20 pips to ensure it captures some profit when it occurs, it does not use protective stops to protect your down side.
The documentation strongly recommends AGAINST adjusting the stop and take profit levels. I find this to be of concern – but when tried, it does indeed degrade performance.
Regarding position size, the default is to use a fixed position size rather than a fixed percentage position size.
This is not the best way to do it as it not only increases your risk per trade after each losing trade, but it also slows account growth after wining trades.
It is much better to have it set as a percentage of your available account size. Then as your balance grow, profits grow too by being compounded.
A fixed percentage of your account will adjust the position size up and down as the account grows or shrinks and is generally a better idea. And you can set Forex Auto Pilot to use a fixed percentage but this is not the default.
Conclusion
It’s old, its solid, its proven. It has the largest user base out there, and has a private member forum for advice and support (moderated so that you cannot complain about it). Forex Auto Pilot is not a “must have” in your arsenal – but as an entry level expert advisor Forex robot – you could do a lot worse. The occasional large losses are compensated for by the many smaller profits. $97 – full 60 day money back guarantee.
But I strong recommend that you also buy the Fap Winner silver membership to get the most out of Forex Auto Pilot. See the most up to date review of this robot at http://www.forex-robots-reviewed.info/forex-robot-reviews/forex-auto-pilot.php
Forex Auto Pilot, Been Around 9 Years, 93% Successful Trades
There are some very simple things a forex trader can try to understand that will increase their trading accuracy in a matter of a few weeks from the more common 99% failure rate to as high as 90% positive trading accuracy with the information in article.
First lets compare online forex trading with physical currency exchange so we know exactly what happens in a currency transaction.
Just before the Euro currency was formed and online trading of the currency market commenced in about 2003 currency was exchanged in large suitcases with armed guards traveling over large distances to physically exchange currencies cash for cash. These transactions were unleveraged cash transactions by companies doing international trade.
You can still exchange physical currency on a smaller scale. If a US citizen travels to New Zealand for six months they can exchange currency before leaving on the trip. They can exchange US dollars for New Zealand Dollars, once again this is an unleveraged transaction.
If a US citizen exchanges $10,000 US Dollars for New Zealand dollars in an unleveraged transaction, this transaction is comparable to buying one minilot of the NZD/USD online from a brokerage platform where you put up $100 margin on a 100:1 leveraged transaction, this is $10,000 US Dollars exchanged for New Zealand Dollars. This online transaction is essentially the same as the cash transaction except for the leverage.
If you buy $10,000 US Dollars worth of the New Zealand Dollar there is only one way you will profit from the transaction, this is if the NZD strengthens, or the USD weakens or both, after you make the exchange. There is absolutely, positively nothing else that will influence whether or not you make a profit on the trade. This is true for either type of transaction, direct cash for cash currency exchange or the online trade because these transactions are exactly the same. The logic is exactly the same for any currency pair or any online transaction.
Rule Number 1: All currency traders must learn to understand currency transactions and understanding a cash transaction versus online transaction will tell you that they are exactly the same.
After the currency is exchanged or after the order is placed on your forex brokerage platform, absolutely nothing else will influence the outcome except for the individual currency strength or weakness. Yet, surprisingly, 99% of forex traders dont know this or don’t take this into consideration when they place a currency trade. It is actually quite astounding.
Forex traders, quite simply, don’t know what causes a currency pair to move. If you buy the EUR/USD or NZD/USD or any other pair online all you have available to guide your trade is the useless technical indicators that come with the brokerage platform you have on your computer. Technical indicators may be okay for scalping a few pips but you will lose as often as you make pips, and even the traders that use the indicators are never really sure because all of the other forex traders who use the same indicators use them differently. You can also lose a lot of money this way and almost all traders do.
Rule number 2: Currency pairs only move because one currency is strong and the other is weak or both and that is the only reason, technical indicators don’t measure this. This strength and weakness is how trends form and proceed in the forex.
Technical indicators don’t tell you this and so forex traders fail continuously with no end in sight. Why? …….. because the indicators came with their forex brokerage platform so they presume that they work without questioning them. It’s time to question them and ask for proof, unfortunately you won’t find any. After you exchange currency in a cash transaction before leaving on a long trip overseas you don’t start looking at technical indicators, you look at the exchange rate, that’s it.
Currency traders fail because they do not understand the basic construction of a currency pair either. When a new currency trader looks at the EUR/USD for the first time they view it as a single unit and immediately start to install technical indicators on the pair. They do this because the indicators are on their brokerage platform and easy to access. This is absolutely, completely dead wrong.
The first thing any forex trader must realize is that the EUR/ USD is not one single instrument but it is actually two separate individual currencies. The Euro and the US Dollar are two separate and distinct individual currencies each with its own fundamentals, characteristics, and current trend or direction, and they act independently of each other. These two independent currencies form the pair that is the EUR/USD. It’s like one plus one equals two, you must know what is going on with the Euro all by itself and the USD all by itself to know how to properly assess the EUR/USD. Technical analysis indicators will never tell you this and they are worthless.
As simple as it seems forex traders have always looked at a currency pair as one single unit rather than two separate currencies. They know in the back of their minds that it is always about the strongest versus weakest but they then summarily ignore this fact and everything about their trading begins to unravel and they can’t even papertrade anymore because the “group thinking” of technical analysis takes over.
Rule Number 3: Not recognizing that there are two individual currencies in each pair will automatically kill off almost every forex trader before they ever place their first papertrade.
Currency pairs are constructed with the base currency on the left and the cross or counter currency on the right. On the EUR/USD the EUR is the base currency. But it is so simple and obvious that new traders never consider it, however this can be immediately fixed.
Each currency pair has two separate currencies that must be analyzed separately. You are buying one currency and selling the other when you make a spot forex trade. There is only one way to make a profitable forex trade. When you make a buy entry the base currency must rise or the counter currency must drop or both and you can make a profit, literally, on every trade and do so consistently starting in the first week you begin to do this.
Technical analysis and expert advisors are for brokers, not traders. Technical analysis does not work and there is no proof whatsoever that it does work on the spot forex. Technical analysis cannot work on a currency pair because technical indicators don’t provide any information about the two individual currencies that make up a pair, nor does technical analysis make any individual currency measurements. Technical analysis is totally deficient and actually pretty awful if you think about it. This is the problem, nobody does think about it and every forex trader seems to ignore the basic fundamentals of currency pair construction.
Forex traders persist in their use of technical analysis and it is to their own risk, peril and eventual demise. Why? Because it’s the self fulfilling prophecy of the forex industry and the use of technical analysis is pushed on forex traders on the trading platforms they use. In this regard brokers are responsible because they give tools to traders that don’t work. Forex traders need to stop kidding themselves about technical analysis, it does not work and we all know it. Wanting it to work is not good enough anymore, not after 7 years of failures.
There are now some simple but novel tools now available to help forex traders be profitable that measure currency strength and weakness, analyze the parallel and inverse forces in the forex market with real time currency correlations that are reliable. Papertrading with these simple techniques can be performed by any trader, even new forex traders and successful papertrades will occur consistently within the first week and going forward for the long term. These systems can be mastered by almost anyone including people with no forex trading experience. No more useless forex robots or technical indicators that have been forced on forex traders by the industry. Using these simple tools along with a solid analysis of the spot forex and most forex traders can begin to make pips consistently and almost daily in a reasonably short period of time.Mark Mc Donnell is the lead trading plan writer for www.forexearlywarning.com, an inexpensive trading plans service available to all spot forex traders. He has many years of experience trading stocks, equity options and the spot forex. He has spent the last four years of his career devoted solely in studying the movements of the spot forex, conducting trend analysis, and determining how this impacts retail level forex traders. Mark is also the developer of www.theforexheatmap.com, which monitors 25 currency pairs in real time and is a visual map of the forex.
Three Simple Rules to Follow to Become a More Successful Spot Forex Trader
