Choosing a Trading System

[FXexpert]

This Article can be found at our blog : Forex Secrets Blog

As Forex becomes more & more popular in today's trading world, we're seeing more & more software programs or signal services being advertised & sold. Many of these software programs are legit & trustworthy, however there's always going to be a scam out there just waiting to take your money.

The key to finding a good signal service or software program isn't following some review or going with the site that has the best advertising. Many people dish over $200 or $300 for a software program or service simply because they see someone post about it or write an article about it. There is a much better way to choose a service.

The best way to choose one is to go with a system that you know works and, more importantly, one that offers a trial period so you can try it out for yourself. Talk to your friends who trade Forex, look for services that offer a trial period so you have a chance to try out the service for yourself. Moreover, look for sites that offer income proof so you can have peace of mind when trying out that trial offer..or parting with that hard earned $200.

To your $uccess in Forex,
Daniel

 

[effx]

I agree.

Sometimes free is better than paid ones!

 

[forexblab]

Iam totally agree with your suggestion, today in forex trading there are some firms or peoples that are just waiting to make you fool & take away all ur money. & its a fact that this is an risky business.

 

[onlinestock]

Hey that is an informative article. But I am partially agree with what i read. Because if we use automated system, although it seems easy and correct, can sometime take wrong turn like, false trading. I dont have actual experience, but i heard such things were happened. i dont know why, but still i used to have manual trading as i believe myself.

 

[ForexTrader]

I do agree with you but I also believe that there are some systems out there that can actually make a difference and help you in becoming a better Forex trader or at least helping you gain more profits.

One of these softwares are Forex Phantom, I know the people who are developing the product and I ve been lucky enough to test it and well even though its not released yet it did an excellent job at predicting the forex market for the couple of days I used it.

If you want more information on Forex phantom then check out this site
Forex phantom

 

[Pinalli]

Hello all,

I'd like to share my views with you. There are certain things you should follow while buying a currency broker trading system

1. Understanding the basis of the logic of the system.

2. The system should aim to catch the long-term trends; day trading currencies has less probability of success than long term trading.

3. Simple systems tend to work best, as they are stronger in the face of changing market conditions. There is no link in currency trading systems between complexity of systems and their success.

4. Look at the maximum drawdown from peak equity. This is important in terms of money management, as you need to expect your biggest drawdown is ahead and commit sufficient funds to cover these downturns.

5. Not all systems come with real trading records; they can come with simulations over historical data. If the basis is soundly based logic then they can still work well.

6. At last, judge a system over years not months. All systems can have periods of losses.

Hope it may be helpful

 

[ForexVillage]

Thats a great article, thanks. I think you are absolutely right in everything that you say. There are some great trading systems out there, but you need to do your research, ask questions, see trading performance, and make your decision based onall the information.

One system which is making a lot of money for me at the moment is this automatic trading system - last week I made $3000 on just 2 trades - its worth checking out. But of course, there are lots of other good systems as well - you just need to do your research

 

[orange2009]

paid software are very good.

 

[Pinalli]

I wish this type of software was around when I was starting out as not only can you practice on Demo accounts and with monopoly money but it trades on autopilot within the margins you specify, which:
a) Eradicates any subjective behavior.
b) Scours multiple ever changing complex markets 24/7 getting you Pips while you sleep, shop or go on holiday.
c) Cuts out many long hours in front of the monitor and hours of studying graphs and market patterns.

This type of software really is a rare.

 

[wayne43]

i prefer software with long trail & money back guarantee....so i can make reviews & testing on ...but mostly by buying paid software, we can get full version and extra free items & coaching...depend to everybody...

 

[onliestock11]

Thank you to all for sharing your valuable views and necessary tips for a newbie. I had a proposal of a Automated Forex Trading system. I was thinking to join, it was just a week old. My friend also have invested in it. But as i am new to, i will not take risk, and as far what i read here, I am sure there is something wrong.

 

[andy003]

I think automated trading system has successfully tackled the problem faced by many trader of risk management. manual systems usually leave trader worried about if payment will made after completion of trade but as payment is now been synchronized in real time this is less likely. As automated trading system is still in the way to develop settlement system, such risks are very likely to get eliminated in near future.

 

[FXexpert]

I agree, automated trading systems have helped lessen risks traders take when entering the market. However, while these systems can help, there's no substitute for experience.

 

[shafeez]

choices is in your hand to use whether auto or manual.......right....

 

[ForexTrader]

I would definitely recommend Forex Phantom it is said to be this years best selling product.

 

[mantop]

i suggest forex autopilot it's very interesting..but up to u all

 

[FXexpert]

How does Forex autopilot work ??

 

[pde10d]

How does Forex autopilot work ??

fOREX aUTOPILOT software IS automated trading bots in a software format, which you install on your computer. You have to do nothing more than this installation but to keep your PC on. You will find that these trading bots will handle all the FOREX transactions for you all through the night and in the morning, you see that you have a swollen account!""
BUT Don't get me wrong, this software isn't perfect. There are better softwares out there, but they cost thousands if not tens of thousands of dollars. For the average who dreams about earning a 6 figure income from home without having a boss, this software can help.

By the way, some people actually became millionaires with this software, though that is rare...ok up to you.this is my opinion only.thanks

 

[Time2Fx]

Noted, i'm informed!
________

 

[FXexpert]

Are you talking about a specific software Pinalli ??