Easy Forex Trading Strategies - The Automated Forex Strategy Revealed

Easy forex trading strategies are required for you to be profitable in the already complicated foreign exchange market. The foreign exchange market is a trillion dollar trade involving millions of traders and speculators all over the world. It is not only a place for all winners to multiply their earnings from their original investment amount, but also a place where the losers are making the attempts to obtain back what they have lost, or lose even more. If you are planning to venture into the foreign exchange business, the easiest way to succeed is duplicating the proven techniques practiced by the successful traders. With years of experience under their belt, the pros will be able to tell you which systems will make you lose your investments and which ones will make you rich. These techniques separate the forex champions from the losers.

To prevent you from falling into these group of losers, this article will elaborate one of the easy forex trading strategies that had generated truckloads of money to the majority of professional traders out there. It is even easy enough for new traders to practice and has proven its worthiness in the forex game field: automated forex systems or forex trading robots

Easy Forex Trading Strategies: the automated Forex Strategy Revealed - what do you need to know?

Forex trading robots are basically software systems that has been programmed by a team of computer programmers in collaboration with forex professional players. The robot is able to extract real-time key investment data, converts them by using the algorithms in the programming codes into quality analysis and create vital reports to aid in your decision to speculate among the many currencies, including to buy or sell in perfect timing.

However, the quality of analysis and reports generated by the robot is very much dependent on the capabilities of the programmers, and much more of the forex guy. The more experienced the forex guy is, the more reliable the robot. With good input, the programmers will be able to conduct the precise and required programming codes to ensure that robot fulfills the trading necessities, in order for you to make profits, instead of making loses while trading.

Easy Forex Trading Strategies: the automated Forex Strategy Revealed - Which robot should I choose?

Here are some Bullet Proof tips for choosing the best forex trading robots:

1. Crisis proof. Choose a robot which is capable of re-adjusting to the changing market conditions. Should the market suddenly become too volatile (and therefore, too risky to trade), the volatility filter of the robot must be able to intervene and take the robot to an early exit. The bot must also able to adjust automatically to the conditions of a specific brokerage in addition to being compatible with both the instant execution brokers and the market execution ones. These features could only be experienced after you purchase the robots. Most vendors will provide you a refund should you are not satisfied with the robot.

2. Low Initial Investment Requirement. Choose a robot which requires a minimum of $450 for you to start trading on EUR/USD. Only if you wish to trade on both EUR/USD and USD/JPY, then you need to have a minimum of $4,000 in the trading account. Since most profits are generated on EUR/USD, so a minimum of $450 will be perfectly sufficient. It is important to note that if a robot programmer tells you that you can trade a forex robot with $100 or even $50, he is actually after your hard-earned money. Of course, you CAN technically trade even with as low as $1.00, but it will result in an instant margin call and put you out of business faster than you can hit the stop trading button. $450 here means that you can safely increase your capital and that all security filters have enough room to kick into action to preserve your money and your gains.

3. Easy setup. Find a robot which is easy to utilize, like a "set and forget" robot. Indicators include the requirements of not having to enter complex lists of settings, to upload files into various folders and to watch the robot during its trading. Everything should already be done for you.

4. No liquidity issues. The best robot must trade DURING the market hours and not between them, unlike many other unreliable Forex robots. This aspect ensures sufficient liquidity at all times, no matter what the situation on the market is and how many people are using the robot. The liquidity during the forex market hours totals in the trillions of dollars. Therefore, even if we had millions of people using the bot at the same time, it would not affect the currency market in any way

6. Careful & and safe trading environment. The perfect robot will trade during the different opening and closing times of stock exchanges in different parts of the world. That way, we will always be overall in profit no matter what the current situation is on the market. The robot's time of market entry needs to be at a fixed time of the day, during which the massive asset transfer from US stock exchanges to the European ones takes place. The American trading floors (NYSE, CBOT, etc.) close down for the night when the European ones (Frankfurt, Amsterdam, Brussels etc.) are about to open in the morning, therefore boosting up the demand for the Euro against the US Dollar, as all stocks in the US are being traded in US Dollars and all stocks in Europe are being traded in Euros. The same is true for the USD/JPY currency pair- when the Japanese stock trading (where all stocks are traded for the Yen) ceases in the evening (NIPPON, NIKKEI etc.), the American one is about to resume in the morning.

7. Flexible trading. The robot must be able to trade in the two popular majors - EUR/USD and USD/JPY - which are offered by pretty much every broker in the market. Moreover, the spreads on these two pairs (mainly because of their popularity) are marginally low, which further serves to your advantage.

8. Auto adjusting to evade errors. If a news release suddenly hits the market and a broker drastically increases its spread in response, your robot must be able to recognizes it and automatically cuts the starting lot size for its trading cycles and once the spread is back to normal, trading with the standard starting lot size resumes. This aspect prevents the robot from being unable to close the cycle of time because of the suddenly increased spread. If your computer, VPS or internet connection experiences an outage, the robot must be able to be restarted from a different computer. It needs to be able to recognize the trades it opened from the old computer as part of its trading cycle and will proceed with the trading as if nothing has happened.

Easy Forex Trading Strategies: the automated Forex Strategy Revealed - Conclusion

With wise judgment and carefully considering the many factors of a good forex trading robot, you could become very profitable as the experts do.

Truly, forex trading robots can play a vital role in the many easy Forex Trading Strategies practiced by professional traders in the world.

Are You a Currency Trader? Are Forex Trading Courses Really Mandatory?

Being engaged in any business of some type can be truly gratifying. Man has tried this kind of endeavor for ages now, if truth be told, it has been in existence for as long as any man can remember.

Buying and selling is actually a superior way to do business. Long ago, people dealt products for other goods. At a later time, some goods began to be exchanged for services, and vice versa. Foreign exchange trading is merely one of the many sorts of trading. To begin with, foreign currency trading is simply the exchanging of the various currencies on the earth. It gives you total liquidity to the majority of traders; additionally it is identified as the least regulated and the largest economic market place on earth.

While trading currencies might appear quite simple, when considering forex, it's an entirely different scenario. And if you don't have adequate knowledge about it, you are going to relinquish a whole bunch of moolah. Trading forex similar to the pros could be quite a chore, if you can just learn the basics and pick up some advanced currency trading methods, you you are able to deal in foreign currencies similar to them.

There are lots of forex trading courses that one could choose from. You can choose a forex trading system usually in a classroom atmosphere or it can be done online. Regardless which you prefer, you'll surely learn more and can benefit much more should the forex training course can provide live trading calls. Even though it calls for additional capital on your part, the amount of money you will be spending will be doubled or perhaps tripled as soon as you do your actual forex trade.

Forex trading courses offered to newbie currency traders instructs in just about all factors associated with forex trading. You can find companies which offer the most recent forex trading software and tools obtainable. In addition,, you will be trained in the main difference between stocks, commodities, futures and forex currency trading. Veteran traders utilize a variety of specialist tools and signals when managing a particular trade, and by way of forex trading courses, they will make it easier to determine the most appropriate possible forex trading software bundle that agrees with your trading style.

Considering that the forex market is global, a person can trade it 24 hours a day, five days a week. Contemplate how much cash that you can make with endless trading; but this could only become recognized if you attend a quality forex trading course.

Rookie traders may well get pleasure from currency trading even without going to the appropriate training course, but in due time, you will discover that you can lose a ton of cash if you never seek out competent guidance. Occasionally, some help from the outside can be extremely invaluable.

Forex investing demands a lot of know-how about how the market works, and if you hardly have any understanding of it, you're in big trouble. People who would like to take part in business enterprise naturally intend to make capital, and to reach that goal by investing n the forex market, you should have a good grasp of the different elements of the market. Something that a forex trading course could undoubtedly provide.

Discipline is one essential attribute in trading forex. You must have your individual trading plan, and by making use of technical tools utilized by foreign currency traders, it is possible to go a very long way.

It will be wise to find a forex trading course in physical trading rooms so as to get the most qualified and complete learning experience. Find out if they also supply you with research materials to be used at home. The opportunity introduced by the different training courses made available in the market is endless, and any trader can highly take advantage of it.

Forex trading courses allow you to have education with true quotes and data. You'll be tutored in the appropriate skills in risk management, and how you will be able to preserve your capital. You will then see how to make your individual strategic business plan, and your instructor's feedback about your work can help you improve as you develop through your training system.

Teachers of these courses are among the most effective; they have all the knowledge and knowledge about the trade. Just about any physical office which offers forex trading courses will allow their students to network with fellow course attendants, meaning they are able to have alliances and collaborations outside the four walls of the classroom.

You can ask your associates as well as colleagues who are also into currency trading if they are aware of any forex training courses that are of good teaching quality. Or perhaps you can also carry out some queries on the internet in case you wish to attend classes on the web.

Making Money Online With a Forex Trading System

In this article I will discuss making money online, Forex trading, and software related to Forex trading. Both good and bad. As well as cover some other things. Though there are a lot of systems out there, more importantly scams, there's not quite as many as there are online get rich quick schemes and ponzi schemes in general. There are still hundreds if not thousands of scams that directly relate to Forex Currency Trading. These scams come in various forms but often get the record set straight on them quickly, however a few others somehow escape the negative publicity and go for years and hit unsuspecting profit seekers where it hurts the most daily. The problem with Forex is that so much seems too good to be true, and a lot of stuff is, but it's also true that many people have made millions and some aren't really all that smart at it. You can profit from the right robot.

The first thing I would like to discuss is the topic of sales pages, that common pitch page that a lot of products use and you often think it's gone too far or it must be a scam just by looking at it. But when you think real hard about it, over half the time this is not actually the case... These sales pages are so long and packed with information since they are commonly advertised on the web and it is more or less business strategy, as opposed to anything reflecting the product. Certain vendors force you to use pitch pages, they need a specific landing page and it makes things much easier for sales transactions.

So rather than guide you through a structured web site with more details through various sections; they often use this pitch page and they generally pack it with information and a ton of hard selling. This has proven to be the trend and it's gotten harder and harder for some EAs to market their software without these types of pitch pages. It is often the case with digital products and or/stuff you can order online. When it comes to these make-money-online and Forex sites they often have a lot of flash to them and obviously many things to draw customers in. In reality it's not much different from any other form of advertising, most certainly not the likes of gambling, and so forth. They need to have some sort of appeal and be competitive. My conclusion is that even if it looks like it could be a scam, do your homework anyway and it may not be. It just depends. Some things are signs, but in my opinion web design and hard selling are not direct signs of a scam. Though in the Forex Market something to hope for would be charts and proof.

With regards to the surveys and other things, it amounts to filling out spam for pennies pretty much, data entry is the same and much more annoying than even the most desperate realize. It also makes you look bad if you tell your friends. You still have to spend time to make any real money, not prizes, and some also require a credit card number on file, and they text you and stuff too. Let's be honest, it sucks. It's bottom of the barrel work that just isn't worth it. It's for the ultra-lazy. The kind of human being who for example might get scammed by a Forex system. Not a serious adult who is looking to profit from investment and extend their savings, along with make more money in general.

I once tried a clicking service just to see if I actually could make money, on the popular moneytec forum it was this highly suggested thing by a bunch of lazy work at home users, but I bought into it at the time, and, no joke I signed up and they told me it would be easy and they would make it easy to visit 1000 sites or whatever they have you visit for 15 cents. So I clicked a link and it just starting loading every 2 seconds, it was awfully slow, I waited 15 minutes and that was only like 25 sites, i got a virus after, and i closed it fast. I abandoned the 15 cents for it and thought instantly that these poor souls who do this are a whole helluva lot more desperate than I am. I do not belong in these sort of slums of the internet. This is the first time I have ever written about it. Besides that several years ago before I started trading Forex I also wrote a few surveys and never got paid once. I have marketed online to some success but mainly my success has been through Forex Trading. That's why I don't need to work a real job and can sit around doing stuff like this all day. Publishing is very important to me. Once something you write online get's indexed by a major search engine like Google, chances are that it will be there for a very long time. I find that important anyway...

There are other ways you can make money online without Forex Trading, though sadly it is often bottom of the barrel work; boring data entry, filling out surveys for pennies, to name a couple of the more common ones. If you're into making web sites you may also advertise on one of your sites or a network of sites, and for that you need fresh content and you need to get traffic, which is way harder than one might think. You can sell products virtually as an affiliate, though you need to find your niche and work very hard at it, it becomes a time consuming job for some people and no matter what you're likely to going to need to invest in something no matter what you do. Whether it's Forex, Web Design, Advertising or whatever it is or a combination of things, most importantly it takes time and ability to adapt your passion. Though you still have much more freedom, affiliate marketing online is very crowded and has been for years. You can also use a revenue-share article and/or video submission service in hopes of being one of the few who can actually earn a living at it. Though that is not for everybody. If you've got four young children and only have an extra hour or two a day to pull in some extra income you most likely don't have time to play a Martha Stewart like figure. Most people don't.

Forex Trading on the other hand is more convenient in the sense that it is an extremely profitable investment opportunity given the right expert adviser, to advise your trade and supply your signals, generally to guide you. That is option one. You need a broker. It's way easier than you think and in the Forex industry not as big of a word as you might think, easy to get and you don't gotta meet them in person or anything. It's an online thing.

There are many options to trade Forex, one of the most common would be the use of automated Forex platforms and Forex robots, all automated Forex trading in general. There is nothing wrong with it. This is where expert advisers come in, EAs for short. These are the Forex experts as I mentioned above who supply your trades and information to you. They pretty much tell you what to do. Some are much better than others. Some are not out to supply signals at all and simply selling their software to make profit from that end. Proper automated Forex software oftens runs on the metatrader 4 Forex trading platform, or at least the more popular ones do. Your EA software is like plug-in software for it. I'd actually be wrong to say all EAs use it, but many of the ones I have experience with use the Metatrader 4 Platform and I prefer it.

The other way to trade Forex is to study the market, find all the relevant information you need, take a very long time of a few months to several years to learn something, only to have it blow up as you were still too inexperienced to do something with your strategy when the market changed. Strategy is a very important element of online Forex trading but not just having a strategy, it's about having enough strategies and being able to adapt properly with the market. This is why a lot of people fail without popular EAs, because the EA is usually a well experienced trader and your common trader can't provide himself with signals even half as good and a lot less consistently. The well known EAs are usually like 15 year traders and so forth who studied the market like a school subject and make extra money on the side by selling there signals too you, or software which grants them.

A lot of Forex EAs today simply don't have that sort strategy or ability to adapt with the market... Thus not making them scams, but just not prepared for the long haul in general. I have a lot of experience with failed systems and systems that worked for just a little while. I have others that work to this day but I am always seeking new ones. I can review several including one I use now however that has already been done a few times over.

If you're looking for the cross between really learning Forex and just really having to learn complicated signals and software I'd suggest Forex Fap Turbo. The downside of this is you often need to buy extra stuff to learn it and some of it is useless. All of this for pretty decent software but it takes way more time and skill and not something I was happy with. I requested and received my refund for the software and some other software related to it, as it was just not for me and the only people i heard reviewing and bragging about it were a lot more educated before they tried it than I was. I wasn't ready then, am not ready now. Though it's a well reviewed Forex system and not a scam, I'd provide a link to a review but there is too many of the same, several are mere Forex advertisements so that's not a lot of help. It also brings up a lot of the Fap Turbo related software that isn't even the direct software and you gotta buy it separately. So it's a lot of hassle even more than some typical investments that aren't related to Forex.

I have also tried automoney and several other Forex robots and automated Forex platforms. I have found that many of these automated Forex systems are a dime a dozen and send you through far too many loops to get the desired results. If they don't eat your entire investment... Some systems don't have stops and you have to do too much manually, others are slow, and sometimes the EA is simply just not your sort of teacher and you get lost sometimes...Some EAs will simply sniff you out and then screw you over in the end. This is why it's important to watch for signs of proof either by service trial or physical proof before making your purchase of expensive Forex software.

I have also used Forex Assassin, the eToro Forex trading platform and Forex Harvester but nothing really significant has come up from any of those systems for me.

Some Forex marketers, EAs and employees in general and so forth are so vicious that they monitor new "Forex" related domain registrations and somehow get your email address and solicit you... So you have to be aware that in the Forex market as far as Forex expert advisers go, there is a lot of them competing to get your money. You are merely seeking the ones who are also looking to have a solid reputation and actually provide you with profitable trades, your EAs #1 objective should be successfully trading Forex and not selling their software. This is another thing that makes the simple "pitch page" easy for EAs with very little maintenance, on that end of things. The software should be and often is a side venture for Forex experts who can actually profit from their knowledge of the market and have the means to market themselves... Can anybody create automated software and sell it? Probably not, I think it's a bit of a stretch but then again it depends if you even get software, or whatever, most systems that are fully developed and have good features but don't work - were more than likely meant to work at some point.

I have read up on quite a few of the most popular Forex review sites like Forex Peace Army and many other well known ones, and to me they all pretty much point towards the same complicated software and their voters are already experts investing 10s of thousands already and they barely feel some of their losses. They switch around a lot; nothing turns out to be solid in the end. The reviews on sites like that most likely got started through advertising. Too many people get to review their own systems on Forex sites like that, etc. You never know who the reviewer is. Searching for automated Forex software reviews is almost impossible nowadays since they all say pretty much the same thing and are mostly positive...

I have read up on many "free Forex signal" reports on the web and I also participate actively on various Forex forums and other Forex related sites. I often find with these particular free Forex signals at least my impression is that you get somebody looking to be a mentor of some sort for you, they are usually shady and turn out to be lacking when you need them the most. These guys are usually empty handed. They are trying to freelance or whatever so that they can supply systems and build a name for themselves, but the problem is that these are the guys who after so many followers do create a commercial system and then ultimately end up failing, their the failed EA newbies to some extent and you want an EA who is an accomplished Forex expert.

One should consider it much better and safer to use an established system that is known to work, and not the work of an aspiring EA, or even worse, somebody who doesn't have those credentials at all and are just trying to stuff their ego. I have not enjoyed the free Forex signals and find it more like looting through them then finding anything really that productive, not much is there or else all Forex signals would have to be free and would be for everybody, all the best Forex signals would be free. At least that is my concept. I don't want a rookie EA telling me what to do, since the trend in the Forex market nowadays is most definitely for more popular and well established EAs to sell systems, mostly automated software. That is one thing I don't understand, who these people are that clog up the forums with nonsense and think they can compete in the market with actual successful Forex EAs who really know how to trade.

How much you want to trade really depends on you. If you're a Forex starter you need to have a good EA for starters, and while I can't hand pick one for you, I can provide at least one review since I have spent time on the subject, in this article off-site to an excellent EA which i have tried and complies with several of my standards. I feel it is an excellent resource for people like me at least who gets lost on the big stuff. There are many fish in the sea.

Reasons For Using a Forex Trading Robot in the Trading

These days many people have enough knowledge about what is Forex and how trading happens in it. Its average daily turnover is worth around 2 to 3 trillions dollars. Due to advancements in the technology many individuals are entering the market to make huge amount of profits. The automated Forex trading system software or Forex trading robot is essential tool for mainly the individuals to compete with the large financial institutions and banks that trade in Forex along with them. There are many reasons why you need to trade with an automated forex trading system software. Here are some the reasons for it:

1. Ease of operation:

Most of the Forex trading Robots are very easy to install and use. They are easy to configure and in general they come intact so that there is no need to change everything expect a few parameters. The parameters involved can be configured depending on the experience of the user in the Forex trading. Even a new trader can install it and start making trades immediately without the need of any in depth knowledge on Forex trading.

2. Taking Rest:

Since the in Forex market, trading is done 24 hours a day, 5 days a week that makes a normal trader feel difficulty to trade at his sleep hours. But this problem is avoided when a robot is used. This robot which is essentially a software program can run continuously and make trades for you and bring profits by running on your PC or by running through a VPS (Virtual Private Server).

3. Avoiding Emotions:

Since forex robots have no emotions they trade only according to their program but not with emotions. To state the facts many traders lose the money because their emotions come into play at the time of trade. It's very important to enter and exit a trade at right time to earn profits and avoid maximum losses. Since the robot is just the computer software it can successfully avoid this obstacle to bring you good profits.

4. Computations and Multi trading:

A large amount of data needs to be processed to make trades in the Forex market. The Forex market generates the largest amount of data than any other market. These robots are pre programmed with various mathematical algorithms to process the data efficiently that may not be possible by a human being to process the data continuously and efficiently.

Multiple trading is another advantage that the robots give their user. Many traders maintain multiple accounts and it can be very difficult for the users to trade by managing both accounts. With the help of this software one can easily maintain multiple accounts and operate them with ease.

You can always have expert's advice when ever you have any problems and can share your thoughts and get clarifications with the help of the expert advisers in the market.

Once, if you start trading with automated forex trading system software (forex trading robot) you will find even more advantages by using them than the advantages which I have mentioned above.

I summarize that automated forex trading system software is more useful for the beginners and the part time traders. Forex trading robots can greatly leverage your profits by minimizing the loss and maximizing the profitable the trades.

How to Day Trade Forex Trading

Day trading the forex market can be a fast paced and exhilarating way to make a living. However, there are risks involved and so it is best to learn how to day trade forex from an experienced forex day trader. There are many different styles of day trading or "scalping" as some call it, however, not all are effective over the long run, so it is crucial you learn how to day trade currency from someone who has already spent the time, energy, and money into learning an effective and highly profitable strategy for scalping the forex market.

To trade the forex market on intra-day time frames you will need to use a flexible trading method that allows you to jump in and out of the market numerous times each day. Some trading methods are best for longer term trading strategies, you will want to avoid these and focus only on shorter-term trading methods that are conducive to learning how to day trade forex. A forex day trading educational service that offers live trading instruction would be a great way to get real time trading experience from a professional forex trader. There is really no right or wrong way to learn how to day trade currency, however, it is always best to learn from a professional trader, this fact applies to all trading styles and all markets.

Using an educational service that offers a live forex trading room is an extremely way to learn how to day trade forex. There is no substitute for live instruction from a professional forex trader while looking at the exact same computer screen that they themselves are trading off of. This teaching method lets you see the market from the perspective of a professional forex day trader as he or she explains why they are doing what they are doing in real time conditions. Some live forex trading rooms even let you ask questions of the trading instructor, this is essentially like college for people who want to learn how to day trade currency.

Learning how to day trade forex markets can be a great journey in self discovery and personal achievement. However, this journey can also be filled with frustration and confusion if you do not take the time to learn in a methodical manner. It can be very tempting to think you can teach your self how to day trade forex, however, keep in mind there is a reason why most traders fail and give up or blow out their trading account. Trading is not easy and day trading is probably even harder to learn by yourself because of the fast pace style of trading it requires.

Once you do learn how to day trade currency markets however, it can be a very exciting and lucrative way to make a living. Full time forex day traders enjoy freedom in the truest sense of the word as they can work from anywhere they choose and make their own schedule. Make sure you learn how to day trade forex from a trusted professional and you will drastically reduce your learning curve and thus be able to enjoy the spoils of a lucrative trading career much more quickly.

Day Trading Training - A Live Forex Trading Room

Learning to day trade the forex market can be a very difficult task if you do not learn from a trained professional who has day traded with profitable results for years. Day trading is perhaps the most popular form of speculative trading, however this does not mean it is easy, and as such needs to be learned from someone who has been in the business for years and achieved success. Day trading the forex market, although difficult, can be a very lucrative way to trade if you learn from the right person. The advantages of obtaining day trading training in a live trading room are many and should not be over looked.

Learning to trade via a live forex trading room will provide you with real time trades that allow you to take advantage of the volatility provided during the active trading hours in the forex market. This is one of the best ways to learn because you are actually learning in real time as trades are setting up and unfolding.

By learning from a professional forex day trader in real time you will be getting a window into how a professional trader thinks and what goes on in their mind as they are trading. This is essentially equal to "on the job" training; forex trading training in a live forex trading room will greatly expand your knowledge of market dynamics and the intricacies involved in forex trading.

One of the great advantages to getting day trading training in a live forex trading room is that you get to learn how to trade before the fact. Most trading systems or courses teach you in hindsight, or after the fact, learning how a professional trader thinks and acts in live market conditions is an extremely valuable tool. You will also pick up many other valuable pieces of information by trading forex in a live trading room, some of these include emotion management skills and money management, both are vitally important to long term forex trading success. There is really no better medium to acquire forex training from than in a live forex trading room.

Make sure that you find a resource that offers on going education and not just a signal service. It is important for your long term success that you get your forex day trading education from a live trading room in which the head or senior trader is explaining why he is doing what he is doing, in this way you will learn valuable trading skills and entry and exit methods that you can then implement on your own.

Learning to trade from a live forex day trading room can be one of the most valuable investments you ever make in your forex education. Learning from an experienced, professional forex day trader is the best route to take if you are serious about becoming a full time forex day trader yourself.

Forex Trading - Scalping, Swing Or Position?

Forex trading brings together a crowd of completely different people - diverse professional background, unique personalities, unlike financial and marital status, location, gender, age, political and religious preferences, and finally different trading styles. What are those trading styles? Which one is most profitable? How to figure out which style suits you best?

You can choose to be Scalper, Swing trader or Position trader. To say for sure which one is most profitable is impossible, because most professional traders mix it all up. The trick is to figure out when is the right time to scalp, to swing and when it is the best to run a position.

Let's look at each trading style in details:

1. Scalping

Forex scalping tactic is the combination of high leverage and short term trade. The basic idea behind scalping is to make profits on tiny price movements, sometimes no more than 3 pips. A scalper has to focus on price action, join and get out of trades very quickly, gain each time about 5-10 pips and slowly double or triple the account.

Forex scalping, used correctly, is one of the trading styles with minimum risk involved. If you want to adopt scalping to your trading strategy, here are some things you should consider:

· Forex Broker which Supports Scalping

Many forex brokers do not allow scalp trading, since entering and exiting trades causes a broker to lose money. Take an extra time to find out whether your online broker supports scalping.

· Strict Exit Strategy (both good and bad trades)

Stick to the plan and be disciplined. Staying in the trade "just a little bit more" can bring catastrophic results.

· High Leverage

Scalper uses higher than normal leverage, however keep in mind that forex market can easily move against you and cause significant account losses.

· Automated scalping strategy

Since scalping involves short stays in the market (no longer than several minutes), a lot of scalpers automate their set of rules to ensure the speed and consistency. Some forex trading platforms, such as MetaTrader 4, allow executing your system on every tick.

· Support and Resistance Levels

Find support/resistance levels that have worked on several occasions in the past (at new chart highs or lows).

· Look for Momentum

Is the price moving strongly towards either support or resistance level? Is there confirmation that the price momentum is about to turn? In order to get a confirmation that the price momentum won't take out support or resistance, use stochastic indicator. Stochastic lines will show you which way the market is trending. To read the hint right and take a trade, look for stochastic lines which cross each other and point either up (showing support has won!) or pointing down (showing resistance has won!).

2. Position Trading

Position trading involves entering a position and holding it for quite a while (days, weeks, months or even years), or until the reason why you entered a trade in the first place (usually based on fundamental analysis) is unchanged.

When position trading, focus on:

· Average Trades

Weekly 3-bar pattern is a great strategy for forex position trading, used on daily and weekly frames.

· Decisions

Base your trading decision on fundamental data. The basic fundamental analysis includes political and economic changes. Position trader should get information about unemployment forecasts, economic policies, inflation, political principles, and growth rates.

· Position Size

A size position in position trading should be rather small, since you have to be able to endure daily price movements. To make this happen, the leverage used in position trading has to be rather small. Since it is possible for a currency pair to jump up and down as much as 3% in just a day, your account will be empty if your leverage preference is more than 1:30.

· Trading Frequency

In position trading, the number of trades are kept to minimum. In a way, a long term position can cause a forex trading to lose profitable opportunities forex market presents daily, however less trades somewhat decreases the number of losses.

· Time

Since position trading is all about long-term profits, you might come to the conclusion that position trader has more free time. That isn't exactly so, since the considerable amount of time needs to be invested in order to analyze and make decisions based on fundamental data. You need to become an expert in economics and politics.

· Market Trend and Volatility

Once you gain experience in reading forex news and analysis, it will be easier to understand where the market is heading to. It is also crucial to understand the consequences of each trading decision. Forex market is at times volatile and creates an uncertainty. When you trade long term positions, it is wise to avoid highly volatile periods and check out technical indicators to see when the volatility calms down.

3. Swing Trading

Forex swing trading is all about making profits from major trend movements. It is rather fast approach to learn the right from wrong and stay disciplined.

Swing trading involves the following:

· Duration and Frequency

Despite the fact that swing traders sometimes speculate on short-term currency price movements, overall they rather hold open positions for more than 24 hours. When swing trading, you have to place a trade only when a real opportunity strikes and hold it as long as necessary (few hours or even few days).

· Rollover fees

Swing trader often holds position overnight, therefore the rollover fee is charged. It is, however, rather small disadvantage compared to spread and potential profit.

· Analysis

Swing traders capture large opportunities, and therefore have to concentrate on long-term fundamental and technical analysis in order to spot a good entry.

· Support and Resistance

If swing trading is your style, you have to find (via both daily and weekly charts) valid support and resistance and focus on those points inside the trend. A good sign is when the points are on more than 3 different time-frame charts. Once you have the right support and resistance points, you can apply the trading signal.

· Confirmation

Make sure to get a confirmation via forex indicators such as momentum oscillators: stochastic and RSI (relative strength index). Keep in mind that trading without stochastic validation is not recommended.

· Stop and Target Points

Swing trading involves setting target points and stop points. Since forex swing trading is all about small fast gains, target point is important in order to gain the profit the moment the target is reached. Don't wait out "a little bit longer" - you will most definitely lose.

No matter what kind of trader you choose to be, each style is unique. While every forex trading style has its own nuances, it is necessary to master them all. A successful forex trader knows how and when to imply each style without getting carried away.