If you are new to the forex or thinking about learning to trade the forex you may be wondering where you can find the best forex trading how to information available. As a beginner you will naturally want to get started on the right foot.

There is a lot of information about the forex on the internet and a lot of people trying to sell expensive courses to teach you how to trade the currency markets. I don’t want to discourage you from purchasing these courses since you can probably gain valuable knowledge from them but at the same time you don’t need these courses to learn to trade successfully.

There is plenty of free information on the internet and books you can buy and a lot of it is just as good as the information you will get from an expensive course. As a beginner your main focus should be on learning the basics of the forex and then learn about a few simple trading techniques.

At this point don’t get too caught up in trying to find the best trading technique or get seduced into buying a course that promises to teach you a technique. As a more advanced trader that may be fine but as a beginner the technique that you use isn’t that important.

What you should be focused on now is learning the right habits that it will take to be a good trader. Just pick any trading technique that you feel comfortable with and practice trading it on a demo account. Don’t worry about whether it is making or losing money yet. Just focus on trading consistently. Being disciplined and trading consistently while keeping your emotions out of your trading decisions is the most important thing you can learn to be successful with the forex.

After you learn these skills then you can start to focus more on searching for the right technique or systems that will make you the most money. But without learning the discipline these systems will be worthless.

A common mistake that new traders make is to expect to start making money right away as a beginner. But in most cases this doesn’t happen. You should never use real money anyway until after you can consistently make money with a demo over a period of time.

If you want to make money right away as a beginner then use an automated expert advisor, also sometimes called a robot. A robot is a program that you can install on your computer and it will do all your trading for you. Robots already have the trading discipline and if you get one that will trade with a proven system they can greatly outperform most human traders.

The one I use paid for itself in it’s first week and continues to produce consistent profits for me all on autopilot.

If you want to find the best forex trading how to information for a beginner, look for information that will teach you to be a consistent disciplined trader. Until you can make a profit trading yourself use an automated robot for your immediate cash flow.

Watch the forex robot that I use trade the forex live and see how you can make money on autopilot with an automated forex trading robot.

http://forexcashrobot.com

Article Source:http://www.articlesbase.com/currency-trading-articles/how-to-get-the-best-forex-trading-how-to-information-for-beginners-888841.html

Another forex profit.

First thing this morning the robot was up by over £40, but there was still an open trade which did not look too hopeful, which I was tempted to close out manually with about a £10 loss, but unfortunately as soon as the London market opened that became a loss of £33.20 when the market jumped and the stop loss was hit.  But to me it proved that the robot is doing what I have asked it to do, and on this market I have set it to a maximum risk of 10% which is what it did.  Nice if it had won a bit more, but this is what Forex trading is about, you have to take the losers with the winners.  But what this robot does is to win lots of small amounts, and occasionally there will be a bigger loser, but no more than you are prepared to risk, and it even closes out some trades with much smaller losses when it gets the chance.

Get your own robot here.

In the middle of December I opened a live account with £150 (UKP) and within a couple of weeks it had risen to £375.73 when my account was closed down.

I then had to find a new broker, set up the account and transfer money which I did with FXPro who are based in Cyprus.  But then we had the holiday break which is not a good time for trading.  But the account with £200 in it was ready to go.  Note that I had taken out the original investment so the account is now totally self funding!

The first day produced a loss, with the EUR/CHF pair of £32.75, but since then, the profits have been building up.  I had some extra money transferred into the account which was not intended for this account but it swelled the total by £46.68, and I will take that out soon when the other account I have opened is sorted out.  But the exciting news is that after activating the Forex Robot on Tuesday, the account which was standing at £200 is now at $330.03, and if I take off the extra money paid in on Wednesday, the profit in 3 trading evenings is £83.35, a very healthy increase indeed.

I also stopped the robot trading the losing pair on Wednesday, which was a mistake because a demo account made money with that pair on the same night.  So I brought it back in last night, and it made money.

So I am going to leave it all alone and monitor progress.  If the account was 10 times bigger, which it could be at this rate within a few months, then it will be producing a very healthy income without me having to lift a finger.

Click here if you want to do the same.

Back to live forex trading last night and down about 10%.  4 trades, 2 winners and 2 losers, but the losses were bigger so down £21.54 on the new £200 live account.   I have turned off live trading on the very volatile EUR/CHF pair where the losses were made and I will monitor them in the demo account before turning it back on.  But 10% loss is better than a 100% loss that has happened before.

Having spent the holiday period suffering with flu, I have finally opened a new trading account with FXPro and put £200 into that account, ready to start trading again when the Forex market stabilises probably on Tuesday 6th.  I have also set up some new demo accounts to test a new robot, and to test a new version of an old robot.  I will post the details of these over the weekend so you can moniter the actual trades as they take place.

If you want to monotor my live trade, then please sign up to my list on the right.

As I reported at the end of last week, ODL Securities shut my account down with no warning, saying that I was trading unethically.  Translated that seems to mean. We have not seen a losing trade for 2 weeks and you are doubling your money very quickly so as we do not like winners, we are shutting you down.

It seems that I am not alone, looking at various forums ODL apparently shut down 123 accounts on the same day.  When you consider the miniscule amount of money this robot is trading, even if there were thousands of people a day using it, the market turns over about $3 Trillion a day.   It does not make any sense to me, and it has been a real nuisance, especially as I have been in bed with flu for the last 3 days.  After doing research last night I chose FXPro who are based in Cyprus, but setting up a live account with them started off painlessly.  But wheras ODL credited my account instantly, I now have to wait a business day before the money I transferred is  credited to my account.

The other problem is that with the FAPTurbo robot, it is only possible to have one live account, and I am waiting to see if they will accept that I no longer have the account that I was using their robot on, and let me transfer the licence to my new account.  So at the rate I am going, with the lack of potential trading over the holiday period, I am likely to lose about 3 weeks of profitable trading due to my account being shut down.

Quantitative Easing (QE) are the latest buzz words in the financial markets. It is important to become intimately comfortable with these words because they will be the catch phrase of 2009 thanks to the latest interest rate cuts by the Federal Reserve and the Bank of Japan.

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It seems like forex brokers do not like Matatrader.

Using Metatrader, and especially as I am useing a robot that wins, has made my forex broker very unhappy.  They have started to act like a horse racing bookie. If you start to win consistently they shut you down as it is costing them money, and they win if you lose. I have been losing overall for a while, and there have been no problems with my account. So when I started again a couple of weeks ago with £150 and made £220 profit somehow it was flagged and I received the following email from ODL. I am still waiting for a response from them to find out what they regard as unethical trading, and if I hear nothing by the end of the day I will put stuff that I have found on the forums about ODL’s unethical trading on this site. Either way I am going to have to look for a new broker.

Here, exactly as I got it, is the email I received yesterday.

Good Afternoon,

It is with great regret that I am writing this email to you today.  After several discussions with our risk department and line managers, it is felt that your account should be closed and the balances repaid in full.  This recourse has been brought about as a result of unethical trading within your account of late; maliciously or not, with the use of a Robot/EA or not, these actions are unethical and go against the policies of ODL.

In light of this would you be so kind as to furnish my treasury team with the account you wish to receive the proceeds, these can be sent to myfunds@odls.com .  Should you wish to continue your trading with ODL, we are prepared to offer you MT4 Pro (Min $10,000) or ODL Ariel, for details of this please contact me.

I hope this will satisfy any queries you may have about this recent suspension of your account and I wish you the best of luck with your future trading.

It may also explain why the robot did not trade the previous night.

Last night I had an unexpected problem. I have a computer that I leave on all the time to just do trading. During the day I got a notification that a driver needed updating. This is from a programme that I use that keeps drivers up to date. I installed the updated drivers, which included my usb mouse, and the network card. When I re-started the computer the mouse would not function at all, and my backup mouse would only work horizontally. Well after a lot of messing about, I managed to do a system restore and get the computer working.

Well after that the speed of my Internet connection reduced to a crawl, and it was coming up to 9 PM which is when the FAP Turbo robot starts to trade, and as it all seemed to be working OK I left it all alone. Well imagine my disappointment when I checked this morning and there were no trades at all. And a couple of other robots I am testing were showing quite large losses overnight. I have no way of knowing if it was the computer that was not making a decent connection and allowing the trades, but as a couple of other robots actually traded with a loss, perhaps it is just the great way that this robot works and as there were no decent trades, it held back and did not trade at all.

Better no trade and no loss, than a big loss. Last night there was a $2200 loss on a demo account that I opened with $3000 last week. All profits wiped out in a few hours. So if you are playing with robots, make sure your computer is up to scratch, your Internet connection is good, and then you should be OK. The FAP Turbo has another advantage and that is you can run it on a remote virtual server. You can find that out from their site and is probably worth doing once you are earning some decent money.

I have been concentrating on one forex robot for the last few weeks for several reasons. The main one is that it seems to be very safe. There are not huge drawdowns which means large sums of money risking my trading account. I know only too well about them as not long ago I lost 800 UK Pounds overnight when the market moved against the trade a different robot had set up, and wiped me out.

So a couple of weeks ago, after testing this robot first I started again, but this time with a small amount of 150 UKP and the account is now standing at nearly 400 UKP.

The only problem with it is that it only works a few hours either side of midnight GMT but I guess that safe and slow is better than earning lots quickly and then losing it all instantly.

I am actually testing another robot at the moment which looks promising and it seems to trade all the time.

So if you want to look at actual results, these will soon be available on a password protected page, and if you sign up to my list in the sidebar, you will get the details.