To Autotrade or Not To Autotrade? That is the question many currency traders have. Should we focus on manual trading or automated trading? Or maybe somewhere in between?
Procrastination? Ohhh, I know this feeling so well it even hurts to write these words. Procrastination is one of the biggest problems in the world when we speak about achieving goals and checking items from our to-do lists in any area of our lives. No difference in Forex. There are so many things to learn, yet not all of them are effective and useful. Some might even hurt your knowledge.
*** Video Transcript ***
Hey, it’s Rimantas Petrauskas here and in this video I wanted to explain to you how to use range bouncing strategies to trade forex. You can do this manually or with the help of a special tool called the Stealth EA.
I will demonstrate you how I use this tool to trade range bound markets, what price levels I use, the benefits of hidden pending orders and why using semi-automated trading tools can give you more sleep or free time.
Forex traders always debate which trading method is better: is it trading the financial markets manually or is it better to use trading robots?
Many people might be very stubborn about this regardless on which side they choose, so before I give you the pros and cons of a human trader and a trading robot let me give you few words about the robots as a big picture.
One of my customers asked me the other day a really interesting question. It is a question about Profit % vs Drawdown %. He was interested to know what is a good drawdown number. What value from my experience is more acceptable by clients in the long run. Are there more clients willing to have big drawdown for more profit or is the majority of people looking for safe systems with low drawdowns but more consistent. Which market is bigger and what would be a good drawdown number which make most people happy?
Candlestick trading is not something that I am actively involved with. My personal style of trading is based upon price breakouts like what is used on my VavaTrade robot. But there are tons of traders out there who trade and swear by these patterns. Let’s take a look at many of the most common patterns and see how we can use them in our day-to-day trading to find better entry points.
As traders, we are forced to rely upon Forex brokers to be able to trade. Without them we would have no way of placing orders and no way of earning money. The trouble is that there are some bad brokers out there in the world, and likely there are more bad brokers than there are good forex brokers. You need to carefully evaluate and sort through several different brokers to find the right one sometimes.
If you have been in Forex for any amount of time then you know how very difficult trading can be. Some people have an easier time at it than others, but it is reported and rumored that 95% of traders fail to make money. This means that 95% of traders are losing money on a consistent basis. Some traders even get to the point of breaking even, but usually are not able to go ahead. They’ll have winning trades and losing trades, and oftentimes the losing trades will outnumber the winning trades leaving them with a net loss in the end.
I came up with this idea in May 2014 to gather a list of the best 100 Forex related blog sites. I saw that this did not exist and started to work on it. Now we have a huge list of 100 blogs in the Forex industry which is unique.
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The Forex market is a commercial world of interesting possibilities. Currencies worth trillions of dollars are traded every day. It is also turning out to be a sector which attracts a lot of entrepreneurs with Forex business dreams. The currency trading market promises fast bucks in a short time. It is not necessary to be a trader to begin a Forex based business. In fact, the only skill you need to possess is an enterprising spirit and a calculated business plan. Having trading experience will indeed help you if you are going to form one of the related forex trading businesses, but even so this is not entirely necessary.