Can a Newbie Make Money With Forex Like a Pro?

ABSOLUTELY.

Being a newbie to Forex trading, I found it very confusing and complicated to trade with Forex. I was given a practice account and lasted one day trying to figure it out.

On the practice account I lost money. I read all the information provided and gave it my best shot. But no matter what strategy I tried, I ended up losing my practice money. Based on my results, there is no way I would invest money with Forex and try to make trades myself.

Then a friend of mine passed along an email that told about a Robot that could trade for you. What? Of course, I had never heard of such a thing. So, before buying into it I did some research. I looked up Forex Robot with the word scam. Yep, several sites came up.

So, I read every site that had the word scam in it. What I found out is that this Robot comes highly recommended. I only found one negative remark, and that was from someone whom, after reading his article, I figured out did not follow the instructions.

There were several other systems advertised to trade for you automatically also. I compared them to the Forex Robot and found that the Robot has a higher pay out than the others. Around 95% of all trades are wins.

Now this percentage does not mean that you only get back 95% of your money. What it means is that all but about 5% of the trades make money. Lots of money. More than you can imagine. But I didn't find that out until I bought the Robot and put it to work.

Not being knowledgeable about Forex or foreign exchange or robots or fortunes, I figured I had wasted my money. But the instructions were easy and the downloads were simple and I had the robot set up and running on a platform within an hour on a Demo Account.

Man alive, I was blown away. It only used 1% of my practice money to make a buy and it paid back 20 times that on a sell. It was amazing.

Over the next few days I opened up a Real Account and made my meager deposit of $250. I figured if I lost that it wouldn't break me. I got the shock of my life. Within 11 days my deposit had more than doubled.

It has only been a month now and I have yet to have a loss. My money is 4 times more than I deposited. Try getting that much interest at a bank or any other kind of savings account. Nope, it just isn't going to happen.

So, can a Newbie make money with Forex? Yes, yes, yes. A Newbie can make an absolute fortune. Just follow the instructions word for word and don't get greedy. Greed? We'll save that for another article.

Best of Life to You,

Nancy Clinton is owner of ClintonProfits.com. We take pride in helping all of our customers make money.

[http://ClintonProfits.com]

Get a free report about the Forex Robot at ClintonForexAR@aweber.com

Trading Forex - Who Makes Money Trading Forex?

Practically everybody entering trading arena has one objective- to make money. While there are some people who trade for challenge or other "purist" reasons, they are decisive minority. For almost all traders, pulling money out of the markets is a primary motivation.

We have all seen TV infomercials that make it sound so easy. What you need to do is to attend some seminar, purchase a piece of software with some crossing lines or colorful arrows. Just follow these buy and sell signals and you are on your way to untold reaches.

Can it really be that simple?

Reality is quite different. There are statistics claiming that 90-95% of traders lose money. How accurate this number is, may be debatable, but what is not, is the fact that more people lose money than make it. These kind of statements often stress they apply to small speculators or beginner traders. This could be understandable. Most people get themselves into trading in a haphazard way. They don't commit enough time to education, follow questionable advice, luck discipline, are insufficiently funded. The list can go on.

Then there are professional traders. Money managers, hedge funds, bank traders, CTA's. How well do they do trading Forex? Logic would dictate this group of traders makes a lot of money. After all they employ best talent, have best market access, use sophisticated trading tools, have best trading terms, certainly are not under capitalized. In other words, these market participants are best positioned for consistent profitability. Strangely enough, that doesn't guarantee superior results.

Barclay, well known financial powerhouse, compiles Barclay's Currency Trader Index (CTI). Data for this index comprises of results from 114 managed money programs, both spot Forex and currency futures. Since 2000 there was only one year when this index gained more than 10%- 11.08% in 2003. Index suggests that money managers as a group have been losing money for last few years. In 2005 results were -1.21%, 2006 witnessed a loss of -0.12%. Returns for 2007 to date are not much more impressive, just 0.89% gain through August. The outlook for the rest of the year is no better. Other indexes tracking currency trading funds show similar results- marginal gains at best.

These results maybe shocking to many people. If the best positioned market participants can't achieve meaningful returns, is it possible at all to extract profits from Forex trading? What chance does a small speculator have if large players don't seem to get anywhere?

Well, smaller traders do have some advantages over large institutions. While every trader should create and stick to his trading plan, he/she is not bound by myriad of rules and limitations that institutional trader must adhere to. For one, leverage. Money managers are not allowed to use large leverage. They may be limited to how big percentage of total funds can put in any one market. Individual trader is not. Most importantly, perhaps, money management companies can not just cash out 100% and sit on the sidelines when things don't go right. Individuals have this luxury, which, at times, maybe the smartest thing to do.

With proper market education and solid trading plan, every market participant can be successful. Outside of extremely short term scalping, where institutions have an edge in cost of trading, disciplined and patient individual can be the one who makes money. On regular basis.

Mike P. Kulej is a Chief Forex Strategist for Spectrum Forex LLC. He specializes in mechanical trading systems as explained on http://www.spectrumforex.com . Spectrum Forex LLC offers numerous services to individual traders. With questions and comments e-mail him at kulej@spectrumforex.com

Forex Trading Systems - Do They Make Money?

A Forex trading system or strategy is a set of mechanically formulated rules set out in writing on how to enter and exit trades in the Forex market.

There are thousands of systems available on the Internet for trading financial markets. I feel that the best way for you to find an appropriate system to trade is to look at your personality. I know this is not what you expected to hear. By finding a system that matches your personality you will be more inclined to enjoy the experience and putt the effort and time in that is required to become successful. For example do like to do things quickly, if so a shorter time frame chart would suit. If you would like to only check your trades once a day then you require a daily or weekly chart and system to suit. There are many combinations and systems to trade, please think about how you would like to trade before choosing a system.

Some of the common trading systems, scalper where the trader is trying to take a profit of between one to five pips in a very short time frame. Day trading where all positions are closed at the end of day. Swing trader, positions are held until your profit target is achieved and many more.

Yes trading Forex systems can make money. The system must have a positive expectancy with good money management and risk management rules.A good system should come complete with a manual explaining all the requirements needed to trade correctly. For example entry and exit rules, money management, risk reward management and a complete set up for the charts and indicators that are required. Once you have the ability to apply the system with consistency and discipline your account balance will headed in the right direction.

There are also thousands of fully automated trading systems available for the Forex Market. Many of the fully automated systems also referred to as EAs ( expert advisor ) or trading robots of which many are scams. For this reason it is very important that once you purchase a system you trade it on a demo account which is virtual money. Once again depending on your personality and risk tolerance this will determine the amount of time you need to trade on the demo account until you're comfortable with the trading platform and your results.It is very important that you take the time to trade on a demo account for you must understand the system and have complete faith in it before you have the ability to become consistent.

This is just a quick review of trading systems on the Forex market. If you are looking to move forward and trade the markets with a positive outcome, I would suggest heading over to [http://www.tradingforexcurrencysystems.com].

Enjoy the journey and have a great day. All the best Trader Steve