http://forexauto.info I’m being flooded with email from people who are making a fortune from Forex autopilot, and they want to say thanks and share their success stories. So I will read out some of them:
First one is from Terry Noonan, He says:
Hi Dave, Good advice here about really watching the system. I have been using this system since the start of last year, and I have made $148,000 in 12 months. Not bad for a 23 yearold. I spend an hour per day watching the system, then I just let the bots do their job. Take it easy with Forex Auto for the first week then you will be laughing all the way to the bank.
What Terry says there is really good advice and taking it easy in the start. http://www.forexauto.info
Next one is from Mary Jacob.
Hi Dave, Thanks for introducing me to Forex Autopilot. It really is an easy way for anyone to make a good steady income easily. I am a single mother with 2 kids, and I am in bad health, and often need to spend a lot of time in bed, so Forex autopilot has …
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FOREX Day trading sounds good in theory, but in practice few succeed as the odds are simply against you.
Let’s look at day trading and see why it is not a good way to trade and some better ways to make profits from FOREX markets
The time span is to short
It is almost impossible to predict which way the market is going to go in one day. Currency markets reflect economic fundamentals and they are longer term.
To try and predict what might happen in a short time is impossible
To Win You Need to do the following and you can’t in FOREX day trading
One of the fundamental rules of trading FOREX markets is run your profits and cut your losses – You simply can’t do this in day trading and your profits are too small to cover your inevitable losses.
And it’s even worse
Transaction costs are more and are reflected in FOREX day trading in a loss that is deducted from your profits and added to your losses and when you trade frequently these add up.
Why do people day trade FOREX
It sounds good in theory and traders think that they are restricting risk but they are actually creating it and making sure that their profits can never cover their inevitable losses.
Brokers love day trading as they make a lot of commission. Course writers love it because it’s a good story, ( and very often they get some pips as a referral commission ) if you buy a course doing day trading ask for a real time track record and see if you get one.
Better ways to trade
You can trade short term and swing trading over a few days can be successful, but perhaps the best way to trade is a long term system (keep in mind many currency trends last for months) this way you will
1. Catch the big trends that make the big profits.
2. Have the opportunity to win on only a small percentage of trades and still make long term profits.
3. Get the odds in your favor.
4. Restrict the impact of transaction costs.
If you want to day trade FOREX You can but the odds are stacked against you maybe you will be one of the lucky ones to make money but don’t bank on it.
Sacha Tarkovsky
http://www.articlesbase.com/currency-trading-articles/forex-day-trading-why-you-will-lose-your-money-92738.html
