Automated Forex

Trading Forex The Hard Way

2 Years ago i made the decision to trade forex full time from home after hearing and reading about the huge fortunes that could be made.My initiation began by joining babypips,an excellent source of forex knowledge that gave me a sound introduction to the forex arena.Everything is covered in great detail and with access to the forum any lingering questions were answered very quickly,and best of all it was totally free.In forex trading one never stops learning as the market is constantly changing and what worked last month may not work this month.Joining many additional forums one of my favourites being forex factory i was intrigued by a particular program that provided live entry and exits into the forex market..many people raved about the success of the program with over 300 members paying $200 per month .It seemed to be going very well until internal squabbling and the dreaded "greed ' took over and which point all fell into disarray.At that point i made a point of never again would i subscribe to signal services or the so called gurus advice.

I love forex trading ,the thrill of market is indeed highly addictive and indeed fortunes can be made and lost.There is an old adage "let your profits run and cut your losses quickly"This can be extremely time consuming and mentally draining watching the draw downs (ups and downs of the market)on the edge of your seat following your execution plan to the tee and looking to take decent profits,Then rinse and repeat.In a market that boasts over 1.3 trillion dollars a day one needs only a small percentage to be profitable.

Why is it then that over 95% of traders loose there trading accounts and end up with nothing to show,indeed my own trading accounts were decimated 3 times,i am talking about $30,000 accounts which is considered small in the forex community but to me it was everything.I thoroughly believe the single most factor to my demise was controlling my emotions.I began to believe the brokerage company had was watching my every trade and push the market against me until i exited the trade at a loss and this happened all to frequently for my liking.One of the reasons it is said you need capital to trade correctly is that you must be able to accommodate the sometimes very large draw-down to make profits,this is the nature of forex .Although i had spent huge amounts of time and money on learning and trading seminars my forex trading was not supplementing my income ,each day i began to loose a little more faith in my ability to trade.Although every trader goes through bleak patches using there own trading formula i then began to look at automated trading software,a so called big no no! in the trading community......All i can now attest is that i will never again follow the herds and so called guru,s .No i have not found the holy grail of forex...it does not exist,but i have found automated trading software that is consistently growing my trading account ,which to be honest is all any forex trader desires.