Oct 17th, 2009
Today, aren't we all looking for supplemental income? And, if it is truly supplemental income, I usually look at a work from home opportunity. There are many opportunities out there, but I recently stumbled upon Forex trading. Why can't I become a Forex trader?
Click to Get Best Forex Automatic Robot Program
It seems like I could simply get a trading system and begin trading. I found a variety of free trading systems, some were printed in trading articles, others in journals, more in books and on trading-related websites. I could simply purchase a software program and begin, right?
For my supplemental income, I also don't have the time to learn a new career. I would rather just purchase a program. From my research, a Forex megadroid will tell me what to buy, when to buy and how much of it I need to buy. But, before I buy and count on this second income, does anyone condone this strategy or approach for trading the financial markets. To answer this question, I have researched what others are saying are the advantages and disadvantages of using this approach to trading.
Using someone else's strategy and system in the Forex market does make it easy. Being a beginner trader, I don't have the time or inclination to study how the market works. I don't want to spend additional money on books, CD-Rom's and seminars. I just want to start making money.
So, according to different software websites, I shouldn't need to test the system because the seller has already completed that for me. Further, the seller has reported promising results; hypothetical or actual, I'm not really sure, yet. The main reason that using someone else's strategy is so appealing to me is because I can get a trading system inexpensive or even for free.
Click to Get Best Forex Automatic Robot Program
Now, there are many fears with this approach. One burning question that I have is how do I know that the system I get for a bargain price or free is a good system?
Those in the trading field caution against buying someone else's system because even a good one can have outdated assumptions or the mechanisms may no longer be correct or valid. Experienced traders also say that sometimes systems, even the good ones, might not make money
for 6 months to a year. So, how would I know if I have a good system or a good strategy, if I don't have the self-confidence to know with loss after loss?
What I found out from expert traders is that even if they were to give me a good system that I would still probably not be able to make a lot of money. Why not? I asked. These traders even said that they could tell me a few simple rules and if I followed them, I would make money. One expert trader said that he did something similar with a beginner trader. They both traded for the same amount of time and the expert trader increased his account by about 50%.
When the expert trader looked at the beginner traders' records, he found that the beginner trader was not following his rules. The beginner trader thought that he could improve his results by making different decisions during certain market conditions. Apparently, this new trader had also made simple errors, too, such as opening trades at market price instead of waiting for buy and sell stop orders to get triggered. The expert trader also asked that the beginner trader execute trades at market close, but oftentimes the beginner traded two hours before or after the close or at his own discretion.
Because the Forex market isn't all that complex a system, it's relatively simple, expert traders caution beginner traders like me that if I do not know the reasons behind the rules, it's hard to appreciate and follow them. To my regret, all the expert traders I consulted with see no way for me to become a successful trader unless I do learn how to develop my own trading strategy.
Once I develop my own strategy, I'll be better able to know if I have a good system. Better yet, expert traders recommend learning about systems out there and taking the parts that I like and that work for me and create my own system. By then, I'll have my own system, my own strategies and be a success without having to invest in someone else's system. In the long run, I'll save myself money and become a more successful trader.
So, although trading doesn't look hard in the beginning, all the experts seem to agree that if I am not inclined to develop my own trading strategy, then the Forex market should probably not be my 2nd career. However, I could consider giving my money to someone else to invest, which also might help me in my quest to find a second income.
Click to Get Best Forex Automatic Robot Program
Best Forex Automatic Robot Program and other Related Resources:
• Best Professional Forex Trading Robot, Top Automated System
• Trading with an automatic Robot that doubles cash every month!
• Forex MegaDroid Indisputably Proves A Robot Can Trade With 95.82% Accuracy
Today, aren't we all looking for supplemental income? And, if it is truly supplemental income, I usually look at a work from home opportunity. There are many opportunities out there, but I recently stumbled upon Forex trading. Why can't I become a Forex trader?
Click to Get Best Forex Automatic Robot Program
It seems like I could simply get a trading system and begin trading. I found a variety of free trading systems, some were printed in trading articles, others in journals, more in books and on trading-related websites. I could simply purchase a software program and begin, right?
For my supplemental income, I also don't have the time to learn a new career. I would rather just purchase a program. From my research, a Forex megadroid will tell me what to buy, when to buy and how much of it I need to buy. But, before I buy and count on this second income, does anyone condone this strategy or approach for trading the financial markets. To answer this question, I have researched what others are saying are the advantages and disadvantages of using this approach to trading.
Using someone else's strategy and system in the Forex market does make it easy. Being a beginner trader, I don't have the time or inclination to study how the market works. I don't want to spend additional money on books, CD-Rom's and seminars. I just want to start making money.
So, according to different software websites, I shouldn't need to test the system because the seller has already completed that for me. Further, the seller has reported promising results; hypothetical or actual, I'm not really sure, yet. The main reason that using someone else's strategy is so appealing to me is because I can get a trading system inexpensive or even for free.
Click to Get Best Forex Automatic Robot Program
Now, there are many fears with this approach. One burning question that I have is how do I know that the system I get for a bargain price or free is a good system?
Those in the trading field caution against buying someone else's system because even a good one can have outdated assumptions or the mechanisms may no longer be correct or valid. Experienced traders also say that sometimes systems, even the good ones, might not make money
for 6 months to a year. So, how would I know if I have a good system or a good strategy, if I don't have the self-confidence to know with loss after loss?
What I found out from expert traders is that even if they were to give me a good system that I would still probably not be able to make a lot of money. Why not? I asked. These traders even said that they could tell me a few simple rules and if I followed them, I would make money. One expert trader said that he did something similar with a beginner trader. They both traded for the same amount of time and the expert trader increased his account by about 50%.
When the expert trader looked at the beginner traders' records, he found that the beginner trader was not following his rules. The beginner trader thought that he could improve his results by making different decisions during certain market conditions. Apparently, this new trader had also made simple errors, too, such as opening trades at market price instead of waiting for buy and sell stop orders to get triggered. The expert trader also asked that the beginner trader execute trades at market close, but oftentimes the beginner traded two hours before or after the close or at his own discretion.
Because the Forex market isn't all that complex a system, it's relatively simple, expert traders caution beginner traders like me that if I do not know the reasons behind the rules, it's hard to appreciate and follow them. To my regret, all the expert traders I consulted with see no way for me to become a successful trader unless I do learn how to develop my own trading strategy.
Once I develop my own strategy, I'll be better able to know if I have a good system. Better yet, expert traders recommend learning about systems out there and taking the parts that I like and that work for me and create my own system. By then, I'll have my own system, my own strategies and be a success without having to invest in someone else's system. In the long run, I'll save myself money and become a more successful trader.
So, although trading doesn't look hard in the beginning, all the experts seem to agree that if I am not inclined to develop my own trading strategy, then the Forex market should probably not be my 2nd career. However, I could consider giving my money to someone else to invest, which also might help me in my quest to find a second income.
Click to Get Best Forex Automatic Robot Program
Best Forex Automatic Robot Program and other Related Resources:
• Best Professional Forex Trading Robot, Top Automated System
• Trading with an automatic Robot that doubles cash every month!
• Forex MegaDroid Indisputably Proves A Robot Can Trade With 95.82% Accuracy
