FOREX REVIEWS

Many people, specially new traders, overestimate the paramount importance money management has on their trading. In fact many strategies can be turned from losing to giving decent returns when adequate money management is applied to them. People tend to think (as I have said on other posts) that the most important factor in forex is the entry, they couldn't be more wrong. Most trading systems are profitable either because of their exits or their money management strategies, both of them give the systems an additional edge over other ones. So, what is exactly money management ? It is simply the adequate control of position sizing inside a strategy to make it more profitable. As you know, there are many ways in which positions can be managed, the traditional approach being to trade a fixed percentage of your account size every time. However, this strategy is not as profitable as people would think because it needs a trading system which is right most of the time and whose exits are v...

Today I decided to write a review about a piece of software called the forex autocash robot. It is a metatrader expert advisor designed to automatically trade the forex market. I have to say, I am repulsed by the way in which this product is shunned upon people on the authors website, it is disgusting that a person can grip such cheesy and unethical marketing tactics in order to convince people to buy a product. But well, the way in which a product is marketed doesn't make it good or bad so now I am going to focus on what the software really is. The expert advisor is a typical scalping ea, with a 6 pip take profit and a 650 stop loss targeted at an audience of not too knowledgeable forex traders. The webpages claims that the product has remained in profit for more than 8 years without a single loss. This claim is not backed up by live or forward testing of any kind and with such a small take profit it is very plausible that, even if this results really showed on a backtest, that t...

I decided to write an article about general forex trading since many people have a completely wrong idea of what is and what is not important when trading forex. A very common newbie and even experienced trader mistake is to think that the most important thing when trading is to enter the market at the right time. You couldn't be any more wrong. In fact, you can enter the market at anytime in a direction predicted by a coin toss and the strategy could be profitable if you know when to exit the market. The most important thing when you are trading and what distinguishes a loser from a winner almost all the time is the ability to exit the market correctly. But, what is to exit the market correctly ? Well, there is a common phrase in forex trading that says, cut your loses, let your profits run, it is exactly that. But we all learn eventually that this is easier said than done, exiting the market requires you or your automated trading strategy to have a very careful plan, there must b...