Forex Currency Day Trading For Beginners
You sell your money to the bank (or other) and it allocates some interest payments to your savings account from its profits. Have you seen a Bank's profits? What do Banks do with your money? Well, they accumulate many small savers' money to lend to a borrower. The borrower buys his loan and repays it with added interest. The difference between interest rates is used by the institutions to pay salaries, pensions buy buildings and the usual business expenses. THE WORLD PRESS occasionally reveals. "INSIDER DEALINGS" where an individual is accused of amassing huge profits from a fast book financial transaction that proves to be illegal.
Sandwiched between "INSIDER TRADING" and interest are a range of products on sale by banks. Mortgages, shares bonds and so on... Very rich individuals and organizations do not leave all their wealth in savings accounts. They trade in art. gold, diamonds, huge properties huge film productions, rare cars and such. Some buy and sell consumer items such as coffee, tea etc. So can individuals with a few hundreds of their own currency hope to buy and sell something for a smiling profit? There's eBay. Antiques. Some gamble on a wide variety of events such as roulette, horse racing etc. On-line poker (5m PC users play every day)
Now revealed. There is a legal ethical place where you take profits and not interest. You buy and sell without taking delivery. It's far from the bottom layer of the sandwich, situated above shares. It's Foreign Currency. Forex attracts about 2 trillion dollars a day in transactions. Someone may tell you that this makes dealings in shares small fry. Forex used to be the exclusive realm of the world banks, but computerization replaced old style traders. Banks fund Forex Trading rooms, worldwide. Immediately, the reader identifies with a PC. Your machine may be capable of earning you a tiny, tiny part of the 2 trillion dollars. You may start with just a few hundred dollars of your own currency, but you essentially need some education, Powerful information to enable you to trade like a professional. You, buy and sell money?
How can there be a risk if you buy something and don't sell it, until there's a higher price? Forex systems eke out patterns of transactions, perhaps following the big loaves, expecting a crumb. Stories of $300 becoming $30,000 within a year: have you heard them? Banks make profits because they trade from especially designed rooms. You do not need a degree in maths, experience or qualifications to make money 24/7 from anywhere in the world. Forex Day Trading is legal, ethical, exciting and profitable long term. A simple technique at the roulette wheel explains - the pattern is red, black, red, black - what would you choose next? That the pattern continues or is likely to finish? Make a decision and wait for that pattern to appear on any table's display, then act.
Whilst you may take the banks interest in one hand, the staff are elsewhere making huge profits.
Do Forex Robots Work For Forex Trading?
If you are considering entering the world of forex trading, the most important question you should be asking yourself is: "Do forex robots work?" Why is this so important? Because there are essentially two methods used in trading currency markets: manual and automated trading systems.
Now, there is essentially only one concern for any trader: Results. Whether a manual or automated trading system is used, the only consideration should be consistently trading profitably. On the face of it, this appears to be very simple, but many traders do not give enough consideration to what this actually means.
Forex trading is all about consistency and having a system that works over and over again. Manual systems may be lucrative, but require a lot of time and dedication from the trader - hence it is not recommended for the part-time trader. The option that remains is to trade with an automated system - or forex robot. But, do forex robots work or are they just a scam?
The answer is, unfortunately, not as easy as a clear-cut "yes" or "no".
There are many products available that purport to be extremely successful, but do not produce the results as promised by their creators. On the other hand, there are some systems that produce very good results if the trader sticks to the instructions, the trading settings are optimized and prudent risk management principles (to preserve capital) are followed.
The key, however, is to do detailed testing of the available products. This will include back and forward testing, experimenting with different settings and currency pairs. Trading on demo account for some time is also highly advisable. It is also a good idea to test as many products as possible before live trading is undertaken.
For the diligent trader (or aspirant trader), forex robots provide the advantage of having a system for trading the markets on a 24/7 basis, with preset criteria. At the same time, forex trading robots never get tired or emotional and do not make rash trading decisions. One can leave a forex trading robot to trade markets permanently or simply switch it of if need be - this gives the trader immense flexibility with trading the markets. So, do forex robots work? The answer is that some do and some don't - so make sure you do thorough homework on the available products.
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