Forex Robot Nation

Part 1: Intro to me / Forex

Planning and formulating forex trading systems are absolutely necessary for forex traders. There is no guarantee that you will always make profits when you use the trading system. But it is certain that you will experience minimized losses when you use a specific system. The system remains the same and your earnings depend on your trade. If you trade in the wrong way, the system will indicate that you are going in the wrong way. On the other hand, if you make good trades, you can have good profits with trading system.

Having forex trading systems help you approach trading with a cool head. You don’t have to approach your profits and losses emotionally as the trading system eventually leads to them. If you have identified a trading system to be profitable, the losses resulted from using the system indicate the there was a mistake in the trade. All forex trading systems are developed to bring in profits eventually.

To make success with a trading system, the trader needs to have analytical skills. Above these, you must also posses confidence, patience and discipline to follow the trading system without any break. Without these characteristics, a trader can't be successful. Making success with trading systems doesn’t depend on the system. It actually depends on the trader using the system. You need to have confidence and skills to carry out successful trades with trading system. That is why trading systems developed by experts don’t work well for beginners when they don’t have necessary education.

Using automated forex trading systems may seem to be a simple option for newbie traders. However, you need to know currency trading essentials to use these automated robots to do trades for you. Without proper understanding of trades, it is not possible to make profits even with the best trading system.

Part 2: How to Trade Forex

To trade in the forex market, you need to associate yourself with a forex broker. These brokers don’t make commissions on every trade. You have to invest a minimum amount of money and the brokers allow you to trade using leverages. While trading forex, you have to tell your brokers when to buy and sell what currencies. The brokers will do the actual trading for you and you are given all your profits. To make profits with forex trading, you have to determine when to buy and sell currencies. This information can be obtained only if you learn about forex market and trading.

Forex market is sideways most of the times. Only during some times, the market may go down or up and follow trends. As the market is sideways 80% of the time, you should follow range bound strategy to start with. Trend following strategy will not help you all the times as forex market follows trends only during 20% of the time. However, this decision is purely personal, as you have to decide what strategy you like to follow.

The success of a trader starts with choosing correct entry point. This entry point indicates when the trader should actually start the trade. Without this point, you will never know when to start the trade. This is applicable even if you are an intraday trader. At any point of time, you have to determine the entry point using a basic set of rules.

The exit point is equally important for a trader. This point determines the actual profits you have made with your forex investment. To estimate the exit point, you have to consider the number of pips that are profitable for you. The exit point may be chosen as soon as a price move is found or you may delay the point to achieve complete move of the price.