Best Forex Trading System

Ever heard the expression “Fools rush in where angels fear to tread..”? It could easily sum up many newcomers to Foreign Currency Trading.

So often the newby trader will watch charts and arrive at the misguided impression that Foreign Currency Trading looks easy… Many have fallen foul of this trap, why..  I am not sure, but statistics cleary show that the path to currency riches is strewn with financial wrecks.

Is it that the currency of the modern generations is instant gratification? The value attained by knowledge development has been lost and this loss has led to a modern society that lacks the stamina for trial and learning. But without time dedicated to the learning processes, the price of ignorance has to be quantified. Foreign Currency trading is very good at placing a price on ignorance.

Those who make money in the currency markets have dedicated a considerable amount of time to learning their ‘craft’, and as with any skill, they constantly hone their expertise, challenging new boudaries in order to minimise the chances of failure.

It could be the development of a new indicator or the testing of strategies that allow earlier market entry or later exit, the specifics do not matter. But there is one common denominator with all these exercises, capital is never risked until the system is proven. How is the system proven, by testing, testing on current and historical data, then testing in real time. Then only when the strategy is thoroughly proven is capital risked.

For many retail traders, the small, at home investor, wishing to learn Foreign Currency trading, the most common testing platform is historical data on a demo account. What many are not aware of is that demo account data has a reputation for inaccuracies, it is also limited in duration. Years of data is not available to demo accounts, to put it simply it would take too much space on the brokers servers. Also the servers often used for demo accounts are also the ones used for testing by the brokers, the trading servers are kept clean.

If you are starting out, the ability to test your strategies is paramount and being able to test on years of accurate data is by far the preferred option. Why risk your hard earned capital trading systems that can wipe you out in the blink of an eye? That is not why you decided to start this journey… your goal was to become a trader, or more importantly.. a profitable trader. So invest in your mind first, then the profits will come from knowledge and understanding.

So if demo account testing has severe limitations, what other options are available?

A comprehensive testing system has been developed which offers many years of historical data, allowing you to test not only your own strategies but also third party systems. It allows you to discover both your abilities and your failings and then develop the discipline required to temper over exuberance and risk taking, both of which will cost you dearly. Using Forex Tester, you will discover yourself becoming engrossed in your trading, feeling all the emotions and anxieties of monitoring chart movements… trades going wrong… the excitement of profits… the trepidation of entry and exit. All become real, the big difference is you have no capital at risk, but you are developing the knowledge essential for risking your capital in the real markets.

Used to it’s fullest capabilities, this software will provide you with some of the best practical trade training around, it is not designed to teach you the technicalities, but will allow you to test until you are sure your strategies will work, not once, but time and time again. So check it out:

Popularity: 12% [?]

Costly FapTurbo Scam for the Unsuspecting

I just got an email from Steve, one of the founders of FapTurbo, warning me of a blatant scam being perpetrated on unwitting robot users and maybe unsuspecting FapTurbo buyers. It orginates from Russia and presents as though it is FapTurbo’s latest version. We also received the ‘pitch’ from the scammer on our second email account and quickly realised something was far from correct, since it presented as an upgrade but with a sales letter. Upgrades don’t need sales letters…

Here is the eamil from Steve:

“…..It has come to our attention that some russian scammer is spamming our clients with his offer of a so called “fapturbo51″. 

His spam messages begin with a “Fapturbo Sucks” message.

 Here is official statement: Fapturbo51 is a SCAM. Beware!

 Here are the facts:

 1. Fapturbo51 is not a new version. It is a hacked version of the original Fapturbo49. There is nothing new inside.

 2. There is no “secret russian formula”. The Fapturbo51 code is exactly the same as the original one. We already verified that.

 3. Fapturbo51 is showing exactly the same accounts as on the official site.

 4. The scammer only changed TakeProfit and StopLoss values, there are no secret settings inside his copy.

 5. The “51″ manual is a badly “OCR”ed copy of the genuine FapTurbo.

 We know a lot of people are curious beyond what is healthy  so if you just want this scam then you can download their cracked holy grail style version here for free without the need to support the scammer:

(As registered owners of FapTurbo, we were then provided with with the link to download the scam upgrade FOC, effectively undermining the Russian’s income strategy)

We already started the legal actions agains the scammer and would like to warn you that the only legal fapturbo site is www.Fapturbo.com Don’t become a victim of phising sites and illegal clones. If you buy from a scammer you will never get any updates or support.

Help us fight the pirates

Please help us protect Fapturbo from pirates. After all you are a genuine purchaser and should be as angry as we are about such illecit activities. Please Report all pirate and fraud issues you found on forums, blogs, websites, torrents.

If someone is selling Fapturbo without beeing a LEGAL affiliate with a legal clickbank link or offers you cracked/decompiled version that means he is a scammer and should be reported to our anti-fraud department….”

We use FapTurbo and have done since it’s inception, we know what is capable of, even some of the pitfalls that we found when we first started trading it, details of these can be seen on our FapTurbo Review. We are also official affiliates so you can purchase FapTurbo through our links, knowing you are getting  the genuine article.

We support Steve, Mike & Uli and the FapTurbo Robot they built and keep developing, so feel this post is important in getting the info out to members of the public that are not aware of the situation and could fall foul of these scammers.

Popularity: 32% [?]

Learn Forex Trading Free

An often asked question is “Can you learn Forex trading Free?” so let’s see if we can provide a definitive answer.

At some point you are going to have to inject capital into a trading account, so reality dictates that in one sense Learning Forex Trading Free is not possible, because without a Broker account, you will not be able to get a Demo account to practice on. But, apart from this small catch, you can learn Forex trading free. There is absolutely no need to invest money, in high priced, over hyped courses. Keep your money in your trading account, don’t waste it on overpriced education programs. 95% of them are NOT worth what they ask you to pay!!

Let’s look at what you do need to learn Forex trading free, so you don’t deplete your trading account on overpriced BS! An absolute necessity is the trading platform.

All Forex Brokers use a Trading Platform, the software that allows you to transact a trade and to monitor the market. This is usually provided free and will come with a wide selection of indicators you can apply to the charts plus a variety of other useful tools. A commonly used platform is MetaTrader4, and yes it’s Free!

There are a variety of other platforms available and most are provided free of charge.

Next on your education shopping list are the Forex basics. All of this can also be found free, Baby Pips is a brilliant starting point, but there is plenty more on the net. Yes it’s spread around a bit and might take you a bit of time to consolidate the information that is available into some sort of comprehendible state, but it’s out there and won’t cost you anything.

If you are really diligent, you may even find some quality technical trading courses that are free or virtually so. I know of a very good one put out by a Scottish trader with years of experience that sells for $1! Once you have your head around the basics, you can build on this via an inexpensive monthly subscription as your skills progress, your choice. The $1 course is damn good and can make you a lot of money when you start trading, but as with any course, you have to be comfortable with the strategies taught. This is the very reason why you should not invest in the unknown! Free or a $1, doesn’t hurt at all, $2000 does!!

Certainly there is a wealth of information out there that will only cost you time, nothing else.

Next; set up a Free Demo account with your Broker, and start test your trading knowledge and skills before you go live. Demo accounts often have time restrictions though, so once you get to this stage, it is worth thinking about investing a small amount in software like Forex Tester, which will allow you to test your skills time and time again over many years of data. Forex Tester does offer a free trial, but for the price it is worth buying, because you will end up using it time and time again as you develop and test your trading strategies. This will be the difference between a profitable career in trading and a short trip to oblivion. One foolish losing trade will pay for Forex Tester!

The next item you might consider is Free Forex Trading Robots. There is an extensive list of them that are available free, but be careful, many simply don’t work and will wipe out your account. Unfortunately this also applied to many you pay big bucks for as well, in fact there are very few that work and even those that do have their off days! If you do decide to try some Free Forex trading robots, run and test them on Forex Tester FIRST…. DON’T test them on your Broker account!!!

Beyond this you enter the realm of the silver tongued salesman. You will encounter high priced courses that you subscribe to, they lock you in and you become dependent. With many of these you are not in total control, and you will never really know what or who is trading them or generating the signals. You may even log in one morning and nobody is there, neither is you account!

So a word of warning: NEVER hand over your account and its trading to someone else unless they are highly reputable, NEVER EVER!

Learning to Trade Forex, is like going to University, it takes time and practice before you are confident in your ability to trade live. It can be studied Free, but a better end result is achieved with a Small investment in high quality courses and testing software. They will pay for themselves very quickly, some courses will even allow you to learn some trading techniques free of charge, then if you like what you try, you can invest in the course with confidence.

So if you would like to try a Free Forex Trading Strategy, click this link: Free Strategy. It is a very effective Forex trading strategy that you can try on either a Demo account or Forex Tester first and once comfortable try it on your live account and you will make money. It is presented over 5 videos so is easy to understand, but practice it first. If you like it you can follow on with the full course, which is not expensive, but is of exceptionally high quality and I am happy to recommend it. It has been the basis of a lot of our personal education and yes, we do receive a commission but we only recommend products that we have confidence in.

Forex Tester also offers a Free Trial, it doesn’t have full functionality, but will still give you a good feel of the full system. Click here to get Forex Tester Free Trial.

Every element of Forex trading takes practice, a experienced trader NEVER trades a new or unproven strategy without extensively testing it, so why should you?

Popularity: 28% [?]

Foreign Currency Risk Management

Everyone has a highly individualistic aversion to risk, no two people are the same, so in many situations there can be no hard and fast rule. One only has to look at sport; skydiving’s a good example. Many are happy to jump from a plane, but base jumping.. no way. It all rests with personal risk assessment. 

Foreign currency risk management is different, there are intangibles and the lure of big money, and this can easily manipulate your personal judgment. Depending on what market you are entering you need to establish your risk tolerance before you commence trading. Any good stock broker or financial planner knows this, and in their marketplace they should make a significant effort to help you determine where your risk tolerance sits. So that you do not push or exceed your tolerance to risk. 

Online foreign currency trading is different, there is no middle-man, just you and the market. You are in total control of your risk tolerance by how you develop your foreign currency risk management strategy, your broker has no real involvement what so ever. 

Simply put, establishing your risk tolerance is a matter of knowing how much money you have to invest, what your

Forex Risk Management

investment and financial goals are and how much you are prepared to lose if things go wrong. A guiding rule for Foreign currency risk management is: “Never trade what you are not prepared to lose.” 

Think about this for a moment: If you plan to retire in ten years, and you don’t have enough money saved, you may have a high risk tolerance, but minimal money to lose. Yet, you need to do some aggressive, or risky investing to reach your financial goals. This has the potential to create a very dangerous situation because personal needs and your trading strategies conflict. 

If you are in young and just starting to invest for your retirement, your risk tolerance is low, plus you have time to recover any losses. 

Then there is your innate feeling towards risk, you maybe naturally cautious, so will only consider conservative investment strategies. 

Before you ever consider investing one single penny, it is worth taking a course in financial risk management. These are by necessity, an integral part of any good trading course and are mandatory elements in establishing trading strategies. 

Risk management is something you will see discussed extensively and with good reason. Refer back to the chart and you should understand why good risk management has to be indelibly printed into your psyche, if not you will lose and big time. It is probably the biggest single failing of new traders and why they don’t stay in the game for long. 

I have personally experienced losing serious money through bad risk management, so if I can in any way help you avoid going through the same heartache, I will and I will make no apologies for doing so.

Popularity: 21% [?]

In the Foreign Currency market, what is market risk? Market risk can be defined as: “The possibility of financial loss caused by changes in the Foreign Currency Market variables.” Once you understand what market risk is, then you have to look at your personal market risk management so the potential of significant losses can be held to a minimum.

Everyone has an aversion to risk and this will go a long way to establishing your market risk management philosophy. Poor risk management will end up devastating your Foreign Currency trading account, that is a guarantee, so learning the practices that minimise market risks has to be a corner stone of any Forex strategy.

In the exchange based markets, any stock broker or financial planner worth his salt knows this, and as part of their practices should help you determine your risk tolerance. Foreign Currency is different since the only intermediary is your broker and they only provide you with the trading facilities, they have no control over your trading strategies or practices. You are in total control of these.

In the foreign Currency trading world, you are in total control of your market risk management and this should have a clearly definable relationship with your trading strategy.

So what is market risk management from a personal viewpoint? It is knowing how much money you have to invest, what your investment and financial goals are and how much you are prepared to lose if one or multiple trades go wrong.

Think about this for a moment: If you plan to retire in ten years, and you don’t have enough money saved, you may have a high risk tolerance, but minimal money to lose. Yet, you need to do some aggressive, or risky investing to reach your financial goal. This has the potential to create a very hostile situation because your personal needs and your trading strategies conflict.

But if you are in young and just starting to invest for your retirement, your risk tolerance is low, as you have time to recover any losses.

Poor risk management is something you do not want to consider, nothing is worth the pain of loosing a lot of your hard earned cash, when the alternative is minimising losses by adhering to well established FX risk management practices.

Popularity: 11% [?]