Trading Foreign exchange is one strategy to beat the recession, but you have to know some crucial facts or you might lose more than you make. Though there are fortunes to be made, not everybody is a winner. Over Xmas I heard of a family friend who for a period had been trading for fun and profit. Putting away a clean sum on a consistent basis. However that changed quickly due to the upheaval in the Forex markets. He not only lost his shirt but his home and the family farm too! Surprisingly he is quite philosophical about it is handling it all very well considering.
Of course this should never have happened, especially to somebody as experienced as he was. So what truly went wrong? Quite simply he became greedy, trading by the seat of his pants. He was not running stop losses and when he had a chain of losses he just poured more money in an attempt to win back what he lost. In short, he was no longer trading he was betting, he let his emotions take over and had lost his edge. No longer trading by a winning system but more like a craps player who just doubles the stakes on every loss. This is exactly the way not to trade Forex.
This is only 1 of the various areas where a Forex Robot has an edge over most human traders. They trade by a system and they do not get emotional. A good robot can recognize and adapt to any market condition and trade suitably. It can pick the best time to enter and exit a trade, setup a stop loss to reduce risk and even recognise when not to trade at all. It is during times of high volatility that massive profits are made by the best traders. However there's small margin for error when you're trading the forex markets. Having the correct tools and trading system for the conditions is what differentiates the winners from the losers. The 2 main tools for day traders, are Expert Advisors Forex Robots and Signal Generators. Sometimes called push button trading, a signal generator tells you when to buy or sell. They do not trade for you. This is fine in a moderately stable market where price changes are less and more likely to be following a trend. However in a volatile market, rapid reaction time can make the difference between many winning trades or a loss. This is where automated trading comes in. Often referred to as forex trading robots, these are advanced PC programs that can make trades for you. You only need to setup your trading preferences and let it trade for you on autopilot.
Forex Grid Bot is an one of the most recent currency trading robots to be released for the Metatrader4 trading platform. Until not long ago, Expert Advisors ( EA ) only were available to money managers, large financial institutions and banks. Until the previous couple of years, EAs were well out of reach for anybody but the most dedicated professional traders.
When I first read about the Forex Grid Bot what surprised me the most was its cost. How could something that claims to supply so much profit, sell for so little? Software as robust as this frequently costs four figures and more. Can an Expert Advisor in this price range truly trade profitably, absolutely on autopilot? Well I had my doubts, it just did not appear to be possible.
Here is what is claimed by the designers of Forex Grid Bot.
Of course this should never have happened, especially to somebody as experienced as he was. So what truly went wrong? Quite simply he became greedy, trading by the seat of his pants. He was not running stop losses and when he had a chain of losses he just poured more money in an attempt to win back what he lost. In short, he was no longer trading he was betting, he let his emotions take over and had lost his edge. No longer trading by a winning system but more like a craps player who just doubles the stakes on every loss. This is exactly the way not to trade Forex.
This is only 1 of the various areas where a Forex Robot has an edge over most human traders. They trade by a system and they do not get emotional. A good robot can recognize and adapt to any market condition and trade suitably. It can pick the best time to enter and exit a trade, setup a stop loss to reduce risk and even recognise when not to trade at all. It is during times of high volatility that massive profits are made by the best traders. However there's small margin for error when you're trading the forex markets. Having the correct tools and trading system for the conditions is what differentiates the winners from the losers. The 2 main tools for day traders, are Expert Advisors Forex Robots and Signal Generators. Sometimes called push button trading, a signal generator tells you when to buy or sell. They do not trade for you. This is fine in a moderately stable market where price changes are less and more likely to be following a trend. However in a volatile market, rapid reaction time can make the difference between many winning trades or a loss. This is where automated trading comes in. Often referred to as forex trading robots, these are advanced PC programs that can make trades for you. You only need to setup your trading preferences and let it trade for you on autopilot.
Forex Grid Bot is an one of the most recent currency trading robots to be released for the Metatrader4 trading platform. Until not long ago, Expert Advisors ( EA ) only were available to money managers, large financial institutions and banks. Until the previous couple of years, EAs were well out of reach for anybody but the most dedicated professional traders.
When I first read about the Forex Grid Bot what surprised me the most was its cost. How could something that claims to supply so much profit, sell for so little? Software as robust as this frequently costs four figures and more. Can an Expert Advisor in this price range truly trade profitably, absolutely on autopilot? Well I had my doubts, it just did not appear to be possible.
Here is what is claimed by the designers of Forex Grid Bot.
SHARE
