recent forex news

Many automated forex trading systems say that there is no need to have any experience if you trade with automated forex trading systems. Because the automated forex trading systems will automatically place orders for you with out any human intervention. Is this really so?

But this is absolutely wrong. Until and unless you have some trading experience and some knowledge on forex trading you can’t make profits with forex trading systems.

To make consistent profits with automated forex trading systems, you need know the various forex trading strategies. Forex trading strategies are very important whether you trade forex manually or you trade with automated forex trading systems. There are many strategies while trading forex. But all those strategies won’t be useful while you trade with automated forex trading systems. There only a few which can be used while you trade with forex system software.

Before having your own automated forex system, take a good forex course. In internet there are lots of e-books and e-courses are available. Buy a good one and put that for your reference for your life time. There is another best way to learn! If any of you friends are already in forex trading then learn from them. They will tell you all the insider secrets and also the mistakes that often many people do. This is something like live training for you. If there is no one for you to teach forex trading like that, then better go for good forex e-book or a forex e-course. Generally, do not go for free e-course. They will make you learn the basics and some terminology but never tell you the insider secrets or the forex strategies.

After having your e-course, now pick up the various forex strategies that you have learnt. Now get a best automated forex trading system and put it on demo mode and test it with various forex strategies that you have learnt. Now filter out the strategies those does not work with your automated forex trading system. Now you will be left with some strategies that work with your forex trading system software. By doing this you will have better hands on your automated forex trading system and you also know which strategy works well with your forex system software. Now with this you are ready to trade with real accounts.

I summarize that, if you really want to trade with automated forex trading system and make consistent profits, prepare well and learn the strategies. Forex strategies are very important whether you trade manually or you trade with automated forex system software. To make consistent profits with forex trading system, a forex strategy is very necessary. Do not believe the captions that “no prior forex trading experience is needed if you have an automated forex trading system!” Prior forex trading experience is needed!

The other half of the truth is that if you buy and study a good forex currency trading e-book guide or program and understand how it works, avoid the pitfalls and get to know the secrets of risk management and trade with discipline, you can get fabulously rich so fast it will make your head spin round and put the devil to shame.

This is why there is an organized campaign to discredit online currency trading. If you get rich so fast, then you’ll not need to depend on the “Money and Power” Elites and their jobs and welfare system where they allow you nickels and dimes to keep you subjugated. If you get rich too fast, they will no longer be able to manipulate you into voting and keeping them in power to continue milking your life by making you labor and work yourself to death making them rich. There are so many reasons why most beginners in foreign currency trading fail to earn money and instead lose all their savings.

When they first hear about how easy and fast it is making money from day trading currency, they search the internet and find a forex trading broker. Then they open a currency trading account and put in a few thousands of dollars in the online currency trading account and immediately begin to try to earn money from online currency trading. And they get entangled in all the foreign currency trading sophisticated strategies and systems of technical and fundamental analysis such as reading “Forex charts”, “Moving Averages”, “Elliot wave”, “Stochastics”, “Bollinger bands”, “Directional movement index”, “Trend and Oscillator indicators”, “Fibonacci retracements and others.

They spend all day and night listening to business news on radio, reading forex newsletters, forex articles in magazines and watching business news on TV These beginners don’t take their time to buy a valid online currency trading e-book guide to study and understand the forex market and the currency trading “SECRETS” before they begin trading.

They don’t open the free demo trial forex trading account to practice for free to develop viable profitable currency trading skills first before they open a paid forex trading account to begin trading and making real money. They make the fatal and dumb mistake of trying to fly in the world of foreign currency trading market before they learn how to crawl. So, they get confused, make grievous foreign currencies trading errors and lose their money. When they lose their money, they will not accept responsibility because that is the difficult part.

The easy thing to do is to blame their mistakes on online currency trading and to declare and gripe that it is risky and a scam designed to con the unsuspecting public. This gives them the justification to begin filing false complaints and instigating legal action with the lame excuse that they were naïve and didn’t know the risk involved and so have been ripped off. The truth is that there are at least one million people around the world who have foreign currency trading skills and do it well to make millions of dollars monthly!

Yes, sometimes they will lose.

But most of the time they are fabulously profitable. I once read about a taxi cab driver from New York who started trading foreign currencies about 10 yrs ago. While driving his taxi cab, occasionally during his lunch break, he will log into his forex trading account and enter a few currency trades. By the end of his driving day shift, he would check his online currency trading account and was always surprised to find that for a few minutes of trading currencies, he had made more money that day in minutes than he made driving the cab for a whole month.

This encouraged him to stop driving the taxi cab and to begin trading currencies full time. In 10 years, he made $4 billion dollars ($4,000,000,000) trading foreign currencies online and was listed in Forbes Magazine’s 400 richest Americans! He is just one out of the many average people all over the world who took the time to study online currency trading, understood it and trade it correctly and are making millions of dollars without any hard work.

You too can do the same. It is simple. If you can click your mouse once to buy the currency and in a few minutes click your mouse a second time to sell them, you can make money. It is a no brainer. Even a caveman can do it! So, foreign currency trading is not difficult to understand or to do like stock or bond or commodity trading.

If you know where to get a good and valid forex trading guide or e-book and be patient to spend 1 hr daily to study it to understand the foreign currency trading market, how to click your mouse to buy and sell the currency; and if you will be patient to do the free demo trial for a few months before you open a paid forex trading account to begin trading, you can get obscenely and insanely rich so fast, it will make your eyes want to pop out, seeing all the piles of cash you generate just by clicking your mouse twice for a few minutes daily!

One powerful secret that will help you as a beginner is to avoid hiring money managers at the beginning to trade currencies for you. The reason is that 90% of these money managers who advertise with highly impressive websites and brochures and also in TV infomercials and radios and seminars are fraudulent. When you hire them to trade for you, they will over trade your account (churning) so as to generate a lot of trading fees for themselves because whether they make money for you or not, you must pay them their fees.

The more they trade your account, the more fees they generate for themselves! By over trading your forex currency account, they expose it to massive risk which will eventually lead you to lose a lot of money. This is because there are certain days and times which are profitable to trade and there are some days and times which are not. Therefore by over trading (churning) your currency trading account, they get rich at your expense.

Plus, some of them will even use some profits they generated from trading your account to trade for themselves and make themselves rich without you knowing what is going on. As if that is not bad enough, some will entice you to trade on margin. This means that they will loan you money to trade. But the trick is that they are loaning you digital money which is created from the air and has no value. All they do is go to your account and enter any amount of money they wish to loan you. (They don’t actually put real money into your currency trading account!) This is not real money because it is just digital artificial numbers. But if you use this fake funny digital money to trade and lose, then you’ll owe them real money!