How to Optimize Forex Expert Advisors – Part 1 of 3
www.4xWINS.com is an educational forex trader’s web site. The Strategy Wizard is the program used to optimize your MT4 expert advisor to auto trade in your forex account. This video presents a simple how to use approach that applies to a majority of the EAs out there.
by 4XWINs
About the Author:
by 4XWINs
About the Author:
December 18, 2009 No Comments
Forex Expert Advisors – Why Traders Lose With Them
Forex Expert advisors are big business online and they’re the choice of many new traders but traders continue to lose with them – Why?
The problem with Forex Expert Advisors is they don’t work and the name is really a contradiction in terms. Any Forex trading system that calls itself an Expert Advisor has probably been developed by someone who hasn’t traded or made any money.
But I have seen the track records they make money!
Yes they do but it’s never real or verified by an outside source.
Most of these systems simply make up a track record in hindsight, knowing all the highs and lows and that is easy; trading not knowing the closing price is the hard part.
To many traders today, think they can make money without making any effort. By paying a hundred dollars or so, to a so called expert they can get a lifetime income!
If anyone is naïve enough to believe they will win doing the above, they are going to get taught a lesson by the market.
95% of traders lose in Forex trading and only a small minority win, it’s obvious that to enter the small minority of winners, you need to make an effort.
Forget these get rich quick trading systems and focus on getting yourself a solid Forex education and you can win. Forex trading is a learned skill and success is open to anyone, you just have to make the effort to learn skills.
Forget Forex Experts and Robots that promise you riches with no effort and a small outlay, you know it’s not true! Instead, get the right Forex trading education and mindset and enjoy currency trading success.
by Sonia Kristina
About the Author:
The problem with Forex Expert Advisors is they don’t work and the name is really a contradiction in terms. Any Forex trading system that calls itself an Expert Advisor has probably been developed by someone who hasn’t traded or made any money.
But I have seen the track records they make money!
Yes they do but it’s never real or verified by an outside source.
Most of these systems simply make up a track record in hindsight, knowing all the highs and lows and that is easy; trading not knowing the closing price is the hard part.
To many traders today, think they can make money without making any effort. By paying a hundred dollars or so, to a so called expert they can get a lifetime income!
If anyone is naïve enough to believe they will win doing the above, they are going to get taught a lesson by the market.
95% of traders lose in Forex trading and only a small minority win, it’s obvious that to enter the small minority of winners, you need to make an effort.
Forget these get rich quick trading systems and focus on getting yourself a solid Forex education and you can win. Forex trading is a learned skill and success is open to anyone, you just have to make the effort to learn skills.
Forget Forex Experts and Robots that promise you riches with no effort and a small outlay, you know it’s not true! Instead, get the right Forex trading education and mindset and enjoy currency trading success.
by Sonia Kristina
About the Author:
NEW! 2 X FREE ESSENTIAL TRADER PDFS
ESSENTIAL FOREX TRADING COURSE
For free 2 x trading Pdf’s, with 50 of pages of essential info on Successful Forex Trading Strategies visit our website at: http://www.learncurrencytradingonline.com
December 18, 2009 No Comments
Forex Robots – 3 Reasons You Will Lose Money if You Use Them
Forex Robots will generally wipe out your account and do it quickly. Only a tiny minority win and they’re not the ones you see heavily advertised. Normal, sensible people fall for the myth they do make money and here are 3 reasons, why you are odds onto lose with them…
The first point to make is that the automated Forex trading systems you see all produce great track records – better in fact than the worlds top fund managers and all for $100! Now, why haven’t banks brokers etc, sacked their multi million pound dealing teams and use a robot instead? This leads to the first key point.
1. The Robots Produce Made Up Track Records in Hindsight
All you need to do is look at the small print and you will see the Robot has never been traded for real, it’s a back test on historical data knowing all the facts and closing prices. The vendor simply buys and sells to make a profit knowing the closing prices and bends his system to fit the data. You can’t bend going forward though and these Robots get a reality check from the market and get wiped out.
2. Starting Equity
Even if the systems were good, the amounts they say you can start with – like $100 are just too small. You are going to have losses on any system and $100 will soon be taken by the market.
3. Money Management is non Existent
Because the track records are bent to fit the data, money management rules are generally non existent.
The reason for this is that they have bent the rules and will leave trades open you would never do in real life. I once saw a robot which claims in several years it had never had one single loss yet, look at the track record and you could see a trade closed for a profit of under 10 pips but losses were several hundred pips before the trade turned around. You wouldn’t do that in real life!
Any Forex Trader knows that success is built on money management and these robots have rules that in most instances are laughable.
Fantasy Profits Reality Losses
If you want to win at Forex trading forget the fantasy of plugging in a $100 dollar software package, with a simulated track record and it giving you profits with no effort instead, focus on learning Forex trading the right way.
How to Win
You need to make an effort and get the right Forex Education – but your efforts will be well rewarded. You can learn to trade in a few weeks and soon be making big profits in around 30 minutes a day.
Treat the markets with respect and you will be well rewarded with a great second or even life changing income, trust a robot with a simulated track record and you will be in the majority of losers.
by Samuel Leslie Berkovits
About the Author:
The first point to make is that the automated Forex trading systems you see all produce great track records – better in fact than the worlds top fund managers and all for $100! Now, why haven’t banks brokers etc, sacked their multi million pound dealing teams and use a robot instead? This leads to the first key point.
1. The Robots Produce Made Up Track Records in Hindsight
All you need to do is look at the small print and you will see the Robot has never been traded for real, it’s a back test on historical data knowing all the facts and closing prices. The vendor simply buys and sells to make a profit knowing the closing prices and bends his system to fit the data. You can’t bend going forward though and these Robots get a reality check from the market and get wiped out.
2. Starting Equity
Even if the systems were good, the amounts they say you can start with – like $100 are just too small. You are going to have losses on any system and $100 will soon be taken by the market.
3. Money Management is non Existent
Because the track records are bent to fit the data, money management rules are generally non existent.
The reason for this is that they have bent the rules and will leave trades open you would never do in real life. I once saw a robot which claims in several years it had never had one single loss yet, look at the track record and you could see a trade closed for a profit of under 10 pips but losses were several hundred pips before the trade turned around. You wouldn’t do that in real life!
Any Forex Trader knows that success is built on money management and these robots have rules that in most instances are laughable.
Fantasy Profits Reality Losses
If you want to win at Forex trading forget the fantasy of plugging in a $100 dollar software package, with a simulated track record and it giving you profits with no effort instead, focus on learning Forex trading the right way.
How to Win
You need to make an effort and get the right Forex Education – but your efforts will be well rewarded. You can learn to trade in a few weeks and soon be making big profits in around 30 minutes a day.
Treat the markets with respect and you will be well rewarded with a great second or even life changing income, trust a robot with a simulated track record and you will be in the majority of losers.
by Samuel Leslie Berkovits
About the Author:
FREE ESSENTIAL FOREX TRADING PDF’s! + SUCCESSFUL FREE TRADING SYSTEM
For 2 essential free trading Pdf’s and for more on a FREE Successful Currency Trading System and an exclusive RISK FREE Forex Trading Course visit our website.
December 18, 2009 No Comments
3 TIPS: Buying a Good FOREX Expert Advisor isn’t Easy
So you heard you can get a forex robot to trade online and make money for you and you want to know if it’s true…
It’s not true for most forex investors.
What!?…Why?
Trying to find a good forex robot can be a very frustrating experience and many quit before starting to trade. It can take some time and work, but an expert advisor has to be a smart investment! We’re considering an investment of time and money and trust, for ourselves and our funds…no?
So why is it so hard to find the best Forex Robot?
Great question, but we can’t expect a straight answer when there’re so many things to take into account when considering an expert advisor (EA). If you want to review the best EA on your own then you’ll need to try to understand what’s the difference in the main features and benefits in the forex trading software you come across.
As you review different systems you’ll need to match the key features offered by the developers with your particular needs, compare results, list features, trading pair etc. in order to find out which expert advisor would work best for you.
Some of the things to reconsider if you’re feeling frustration trying to find a REALLY GOOD forex expert advisors in the market today:
You don’t have a clear picture of your particular needs. (Who’s “FOREX”? What’s a broker?) You are usually overwhelmed by the many systems being offered, plus they all promise to deliver and that your search has ended…But how you know for sure you’re not bringing home the worst forex robot!?.
TIP: Ask yourself what you really need and want…Can you find your dream robot being offered (or something similar) in any of the websites you’ve visited?
Disbelief! Are these real backtest or live results? Can I use this data and compare results to make a wise investment? Can I even compare robots side by side or are all of them different? Or all the same?!)
TIP: Technical aspects to take into account are usually confusing, not coming from reliable sources or it all sounds the same, it’s hard to find at least a couple of good systems and review on your own which would truly enhance your trading experience, then narrow down and decide to go for one of those.
If you can’t trust the developers (or website) then you can’t trust trading with that system.
Hard to keep track of new releases…maybe you wouldn’t go for a brand new system with no reputation but how do you get to know more about the developers and new trading systems as they are released to the market?
TIP: You should still try to stay informed on new forex expert advisors as they are released and see for yourself what they are offering. You can subscribe to a couple of good newsletters or forex matters, read forums or blogs. All related information can help you make a wiser investment decision.
Learn about Forex Expert Advisors and then start your search for the best one. Invest your time and money wisely and happy trading!…
by Denis Marsili
About the Author:
It’s not true for most forex investors.
What!?…Why?
Trying to find a good forex robot can be a very frustrating experience and many quit before starting to trade. It can take some time and work, but an expert advisor has to be a smart investment! We’re considering an investment of time and money and trust, for ourselves and our funds…no?
So why is it so hard to find the best Forex Robot?
Great question, but we can’t expect a straight answer when there’re so many things to take into account when considering an expert advisor (EA). If you want to review the best EA on your own then you’ll need to try to understand what’s the difference in the main features and benefits in the forex trading software you come across.
As you review different systems you’ll need to match the key features offered by the developers with your particular needs, compare results, list features, trading pair etc. in order to find out which expert advisor would work best for you.
Some of the things to reconsider if you’re feeling frustration trying to find a REALLY GOOD forex expert advisors in the market today:
You don’t have a clear picture of your particular needs. (Who’s “FOREX”? What’s a broker?) You are usually overwhelmed by the many systems being offered, plus they all promise to deliver and that your search has ended…But how you know for sure you’re not bringing home the worst forex robot!?.
TIP: Ask yourself what you really need and want…Can you find your dream robot being offered (or something similar) in any of the websites you’ve visited?
Disbelief! Are these real backtest or live results? Can I use this data and compare results to make a wise investment? Can I even compare robots side by side or are all of them different? Or all the same?!)
TIP: Technical aspects to take into account are usually confusing, not coming from reliable sources or it all sounds the same, it’s hard to find at least a couple of good systems and review on your own which would truly enhance your trading experience, then narrow down and decide to go for one of those.
If you can’t trust the developers (or website) then you can’t trust trading with that system.
Hard to keep track of new releases…maybe you wouldn’t go for a brand new system with no reputation but how do you get to know more about the developers and new trading systems as they are released to the market?
TIP: You should still try to stay informed on new forex expert advisors as they are released and see for yourself what they are offering. You can subscribe to a couple of good newsletters or forex matters, read forums or blogs. All related information can help you make a wiser investment decision.
Learn about Forex Expert Advisors and then start your search for the best one. Invest your time and money wisely and happy trading!…
by Denis Marsili
About the Author:
Interested in more comprehensive information or reviews on Forex Expert Advisors? Watch the Step by Step Tips Video to find the best EA.
Denis is posting tips for new forex investors you may find useful and Reviews on Forex EA in his blog.
December 18, 2009 No Comments
