The Chinese knew that risk and reward are 2 sides of the same coin and the forex marketplace certainly fits into this 'great risk, great reward' category. Since the advent of the Internet there are these new things called automated Forex robots which are simple little software programs that you can use.
While these programs may seem simplistic since they're usually very small the coding which underlies them are actually quite complex. The algorithms require much historical data in order to allow profitable trades to be executed.
Of course, they also have to have some human monitoring. Man is imperfect so any creation is going to require fixing at certain intervals. Stuff happens and you can think of it like your Windows software that just starts to act funny after a year or 2.
Computers and software are no different. There are little errors that just pop up in the code which obviously weren't there when it was created or installed. Automated Forex bots are the same way. When more and more data is introduced to the software it learns but it can also end up in the wrong order.
Looking at it realistically these things are worth a look.
You really have to know the settings for risk and gain the program will start with. Since there are so many different software programs and makers out there the settings will be specific to each one. When you form a relationship with someone you trust who's also using your chosen software you can ask them for their golden settings. The market is so huge they shouldn't have any hesitation sharing them with you because it won't cost them any trades.
Now it's time for you to take what you've learned and do some research on the net. Ask around in different fap turbo member forums to see what results real people using the software are achieving.
The real key is to get it down to the top 1 or 2 and then either test both or do a hard comparison to hopefully bring to the top which 1 of them is really number 1.
Understanding how the mass leverage forex provides can potentially devastate or skyrocket your account is paramount. You cannot simply put $1000 or $10,000 into an online Forex trading account and then just start the software and let it run. If you come back in a year and never check on it your account will probably be completely wiped out and maybe even in the negative.
One of the best things about forex is that the internet has opened it up to regular investors because smaller accounts are now profitable for brokers.
The downside is if you don't really know a lot about Forex it provides tremendous leverage and leverage is a double edged sword. The cool side is you can get amazing profits with only a small investment.
The horrible part is that your entire account could be wiped out with 1 bad trade. Knowledged is your key weapon here. Have the right settings and risk tolerances at the start so you're comfortable.
Now all that's left is to get out there and test the top 1 or 2 bots you've found with about $500 trading money per tool. I have heard and talked to people who have done this and are making monthly profits this way. But you also need to monitor whatever software you choose and learn a little bit so that you can appropriately manage your risk.
Forex Jargon for Beginners
Forex is likely something you have never even heard of. This probably gives you the unique feeling of being both scared and excited all at once. Jumping into a new and foreign investment is a decision you should consider carefully because your money could all go way leaving you with nothing to show for it.
In the world we leave in the money you make can provide you much joy and happiness when you buy what you want. So when you put that gratification on hold to instead buy into an investment the risk is you will never get any enjoyment out of that money.
This is the primary reason I want you to learn more about the forex markets.
Forex is short for the foreign exchange currency markets. This market operates similar to the stock market you know and love, or hate in this recession, only you are trading your currency for the currency of another country.
Forex trades exclusively in currency pairs. So you can't just say you want to buy Iraqi denars. The market is organized into the 7 main currency pairs with the US dollar, Euro, and British pound being prominent.
The movements are called pips. When 1 currency strengthens it is doing so relative to the other currency in the pair. There are too many factors to list here as to why currencies move relative to one another. Good news about the country and mainly its economy causes the currency to rise (strengthen in forex terms). On the flip side of the coin when a country is in trouble its currency tanks.
No matter where you are in the world you are getting to observe this first hand as the US dollar continues to plummet. Other countries hate US dollars right now because it's like buying real estate in a sinking neighborhood. The war zone neighborhood is a place nobody wants to live so prices fall to entice people back in. This means more US dollars have to be offered for the same amount of foreign currency in order to entice these investors to keep making the exchange.
One other way you can see this manifest is that the price of gold is at all-time highs compared to the dollar but nowhere near its highs against the Euro.
After reading this you now know more about forex and can hopefully do some good and profitable things to help your investing portfolio grow. You know some of the stock symbols for your favorite or most publicized stocks. Similar to these symbols forex currency pairs also have been given symbols. Intel has the symbol INTC and Microsoft has the symbol MSFT.
A couple of currency symbols are eurgbp which is the Euro British pound currency pair. And then another example is eurchf which is the Euro Swiss Franc currency pair.
As discussed briefly a move in any of these pairs is measured in relative terms by what are called pips. The amount of money you make or lose depends on the lot size which is similar to how many stock shares you purchase. When trading in bigger lot sizes like when you trade more shares of stock your potential for gain or loss is magnified.
Further resources here Fap Turbo - Your Forex Trading Secret Weapon
Pips make things absolute so you can compare your trades to other peoples logically which you couldn't do when just talking in money terms because of likely differences in lot sizes. A 50 pip move is the same amount regardless of how big or small a lot size you traded. So it equalizes how you can tell your performance no matter what lot size you're trading.
It makes it universal so when you're talking forex you can say you made 50 pips and the guy you're talking to will understand. Since talking money specifics is a mostly taboo subject this makes conversations about forex much easier.
While these programs may seem simplistic since they're usually very small the coding which underlies them are actually quite complex. The algorithms require much historical data in order to allow profitable trades to be executed.
Of course, they also have to have some human monitoring. Man is imperfect so any creation is going to require fixing at certain intervals. Stuff happens and you can think of it like your Windows software that just starts to act funny after a year or 2.
Computers and software are no different. There are little errors that just pop up in the code which obviously weren't there when it was created or installed. Automated Forex bots are the same way. When more and more data is introduced to the software it learns but it can also end up in the wrong order.
Looking at it realistically these things are worth a look.
You really have to know the settings for risk and gain the program will start with. Since there are so many different software programs and makers out there the settings will be specific to each one. When you form a relationship with someone you trust who's also using your chosen software you can ask them for their golden settings. The market is so huge they shouldn't have any hesitation sharing them with you because it won't cost them any trades.
Now it's time for you to take what you've learned and do some research on the net. Ask around in different fap turbo member forums to see what results real people using the software are achieving.
The real key is to get it down to the top 1 or 2 and then either test both or do a hard comparison to hopefully bring to the top which 1 of them is really number 1.
Understanding how the mass leverage forex provides can potentially devastate or skyrocket your account is paramount. You cannot simply put $1000 or $10,000 into an online Forex trading account and then just start the software and let it run. If you come back in a year and never check on it your account will probably be completely wiped out and maybe even in the negative.
One of the best things about forex is that the internet has opened it up to regular investors because smaller accounts are now profitable for brokers.
The downside is if you don't really know a lot about Forex it provides tremendous leverage and leverage is a double edged sword. The cool side is you can get amazing profits with only a small investment.
The horrible part is that your entire account could be wiped out with 1 bad trade. Knowledged is your key weapon here. Have the right settings and risk tolerances at the start so you're comfortable.
Now all that's left is to get out there and test the top 1 or 2 bots you've found with about $500 trading money per tool. I have heard and talked to people who have done this and are making monthly profits this way. But you also need to monitor whatever software you choose and learn a little bit so that you can appropriately manage your risk.
Forex Jargon for Beginners
Forex is likely something you have never even heard of. This probably gives you the unique feeling of being both scared and excited all at once. Jumping into a new and foreign investment is a decision you should consider carefully because your money could all go way leaving you with nothing to show for it.
In the world we leave in the money you make can provide you much joy and happiness when you buy what you want. So when you put that gratification on hold to instead buy into an investment the risk is you will never get any enjoyment out of that money.
This is the primary reason I want you to learn more about the forex markets.
Forex is short for the foreign exchange currency markets. This market operates similar to the stock market you know and love, or hate in this recession, only you are trading your currency for the currency of another country.
Forex trades exclusively in currency pairs. So you can't just say you want to buy Iraqi denars. The market is organized into the 7 main currency pairs with the US dollar, Euro, and British pound being prominent.
The movements are called pips. When 1 currency strengthens it is doing so relative to the other currency in the pair. There are too many factors to list here as to why currencies move relative to one another. Good news about the country and mainly its economy causes the currency to rise (strengthen in forex terms). On the flip side of the coin when a country is in trouble its currency tanks.
No matter where you are in the world you are getting to observe this first hand as the US dollar continues to plummet. Other countries hate US dollars right now because it's like buying real estate in a sinking neighborhood. The war zone neighborhood is a place nobody wants to live so prices fall to entice people back in. This means more US dollars have to be offered for the same amount of foreign currency in order to entice these investors to keep making the exchange.
One other way you can see this manifest is that the price of gold is at all-time highs compared to the dollar but nowhere near its highs against the Euro.
After reading this you now know more about forex and can hopefully do some good and profitable things to help your investing portfolio grow. You know some of the stock symbols for your favorite or most publicized stocks. Similar to these symbols forex currency pairs also have been given symbols. Intel has the symbol INTC and Microsoft has the symbol MSFT.
A couple of currency symbols are eurgbp which is the Euro British pound currency pair. And then another example is eurchf which is the Euro Swiss Franc currency pair.
As discussed briefly a move in any of these pairs is measured in relative terms by what are called pips. The amount of money you make or lose depends on the lot size which is similar to how many stock shares you purchase. When trading in bigger lot sizes like when you trade more shares of stock your potential for gain or loss is magnified.
Further resources here Fap Turbo - Your Forex Trading Secret Weapon
Pips make things absolute so you can compare your trades to other peoples logically which you couldn't do when just talking in money terms because of likely differences in lot sizes. A 50 pip move is the same amount regardless of how big or small a lot size you traded. So it equalizes how you can tell your performance no matter what lot size you're trading.
It makes it universal so when you're talking forex you can say you made 50 pips and the guy you're talking to will understand. Since talking money specifics is a mostly taboo subject this makes conversations about forex much easier.
