Forex Pips Machine Reviews

If you have just started trading in the FOREX market or your considering it , These four basic rules could save you a lot of money and keep that shirt on your back. Of course Fap Turbo ,Forex megadroid  and a host of other forex trading robots are waiting in the wings but we will look at them later

The Five Basic Rules for FOREX Trading

Yes it is worrying starting your journey into FOREX trading .The rules and methods of trading can seem like a lot to deal with . Of course you will learn many things along the way , like which currency pairs perform the best and trends in the market.

There is however key rules and methods you should be aware of in order to keep loses to an absolute minimum and maximize profits. You will avoid many pitfalls as well as recognize opportunities that will boost your profits in the FOREX market.

These are the four rules/methods we will cover :

1) Don’t Over Leverage Your Investment

2 ) Quit When Your Ahead Know When That Is

3 ) Do your Research Before Making Trades

4) Stop Loss Orders Protect Yourself From Large Losses

5) Consider Getting Trading Robot That Will Save You Time and Money

1-Don’t Over Leverage Your Investment

It’s so easy to get caught up in the buzz of FOREX trading , However Leverage is a two edge sword. Leveraging is basically trading more money than you have in your portfolio . For example If you  have $2000 in you account some brokers will allow you to buy $50,000 of a currency .

Its better to get the know the market over time than take unnecessary  risks. Don’t get carried away as you need a steady well thought out approach to make a long term consistent  income with FOREX trading  .

2-There Is A Time to Quit – Know When It Is

When your riding high on a profitable trade ,many people don’t want to sell in the hope there profits will just keep on rising . Well values can fall as well as rise so don’t get greedy and lose your gains.

However you don’t want to cash in to quick and miss those few extra gains. Some trades you make won’t be successful. But over time and careful studding the market trends , you will get a feel for when to start and stop trading. Even Experienced traders have a few losses along the way , but over all they have far more wins that losses and you will too.

3-Doing Your Research Before Making Trades

Research is a word many people don’t like , because it involves extra work with no apparent benefits . Well in the FOREX Trading market , having an idea of history and current trends can be the difference between winning and losing . Don’t treat the FOREX market like a casino because you will lose far more than you win. Do your research. 

4-Stop Loss Orders For Protection

Stop loss is part of a system that stops you from losing too much of your investment  or profit , basically if the value of the currency falls to the value you set in the stop loss , Stop loss will sell and stop you from losing any more profit .

Stop loss should be st up before you start to trade ,and  you need to decide the value that the stop loss activates.  The successful traders use this safety method all of the time . 

5-Consider Getting Trading Robot That Will Save You Time and Money

Well after reading the four rules above you must be wondering if there is an easier way .

Well yes there is , FOREX automated robot software , not only trades on average better than humans it can also trade night and day with no interaction from you. Real live account studies have shown one particular Robot Doubling Profits every month .

To discover which is the best FOREX trading robot  visit the review site below

Click Here: Top Three FOREX robots Reviewed

Forex Robot Trading

If you are new-fangled to Forex trading and determined to study Forex, one of the primary Forex terms you will come athwart is the Forex pip. To study how to deal Forex productively you require understanding these terms. So what really is a Forex pip and how does it work in the market as an instrument that helps you understand trading and just how you will gain profit.

The contraction PIP stands for Percentage In Point or Price Interest Point. In Forex buying and selling your proceeds and fatalities are calculated in Forex pips. Noticeably it is very indispensable to comprehend what is a Forex pip. In trouble-free conditions a PIP is the negligible worth (price) augmentation an exchange that two currencies can make. Forex PIP permits us to conclude an increase or plummet in foreign swap over values in proportion terms as a substitute of calculation in dollars and cents. Forex spreads are also deliberate in pips.

Forex extensions is the dissimilarity sandwiched between the bid worth and ask worth (the put up for sale quote and the pay money for quote) which is the most important price of money trading. So now, we will look at the very reason why the entire structure of trading within the Forex environment is done in pips. We use PIP in Forex trading for the reason that in the legal tender trade marketplace there is no worldwide money in which you can point toward the foreign exchange values. Regardless of the information that the US dollar is the majority traded legal tender, the USD is not concerned in all trades. For example if you are trading in two overseas currencies or any other Forex legal tender pairs that does not engage USD, it would not make any intelligence to calculate your profits and losses in conditions of that particular currency.

Therefore traders make use of Forex PIP which is a minute proportion of the rate of the Forex currencies concerned in the buy and sell. Almost all the most important Forex currencies are extracted to four decimal points with the omission of the currency known as the Japanese Yen. For example if the proposal price any sort of currency pair referenced at certain price points, then the spread (the dissimilarity between offer and inquire prices). In terms of proportion, a pip is really defined as 0.01% of a lot.

Consequently if the lot size is $100,000, one pip would be worth $10. Please note that, this is the value of pips when the US dollar is used as the quote currency. Nevertheless if the quote currency is different (example GBP), one pip is 10 units of that currency (i.e. 10 pounds) assuming that your lot size is 100,000. As you can see, there is a lot to say about the Forex pip and how it works and it is rather essential in the game of trading. If you are trading in the market, this is the first thing and the last thing you should be concerned about.

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Here are 4 fail-proof ways to solve the Pip Auction Game problem, and to guarantee that you’re not going to play it again. You have heard this before, and it’s true, but until now you still have not lived by this rule. You should never risk more for pips than they are worth. You should cut your losses short.

If your trade does not produce a profit for you, then you should close it. Practically, here is what you do. These are not hard and fast rules, but you will be able to mold them to your use easily enough.

1. If your trade does not work out within X minutes, then close the trade. X minutes is the number of minutes during which your trade just sits and does not move very much. You’re at a loss, but not a large loss.

2. If your trade immediately starts to move against you, ask yourself: did you make the right decision? If you did, then stay in until your stop loss is hit. If not, exit NOW, regardless of your stop loss being further away. More on this later — but a few words now:

How do you know that you did not enter the trade for the right reason? If you traded on emotion, if you entered the trade within 5 minutes of sitting down at your computer, if you did not follow your trading plan (later chapter), if you have a feeling deep inside that you made a mistake — all of these are good signs that you have made a trade for the wrong reasons.

Here’s the next way to avoid the Pip Auction Game:

You can’t lose what you don’t risk. Of course, if you have any desire to be rich at all, you’re thinking that this is the dumbest advice you’ve ever received.

1. If you have lost more than 9% of your account value, within ANY period of time, stop trading live NOW. No exceptions.

2. Trade on a demo account for 1 week for every 2% of your account that was lost (and maybe even more). If this seems like too much of a burden, ask yourself: “How much of a burden would it be to lose my entire account?”

This can be really hard to do. For instance, if you are trying to pay your bills and live off your trading account, and you are asked to stop trading live, you are going to wonder where you’re going to get the money to live from. The simple answer is that you have started trading live too early, and it is better to have $2,000 (or any amount) that you cannot trade live, than it is to have nothing left at all.

I once worked with a trader that refused to stop trading live and move to a demo account because “demo trading will take away the excitement. I’m not sure I could stay interested in trading if I’m only trading a demo account.” He lost everything. Twice.

1. Every week, print your account history from your trading platform, and spend 2 hours away from your computer (preferably outside your house, in the library, or a restaurant, or someplace that you can think away from your trading area) looking over the report.

2. Look for your mistakes. They should be easy to identify. They are the trades that were losers.

3. Realize that every losing trade is a mistake. If you believe otherwise (the old, “Well, it’s good because I’ve learned my lesson”), then you are going to at least enjoy losing your entire account. Get with the program, man! Would you be happy to have set your hair on fire, because now you can say, “Well, I’ll never do that again!”?

4. Get someone you trust to look over your statement for you. Ask them to be brutally honest with you. If this person says, “You are going to lose everything,” believe them. Just go ahead and believe them. So many times, traders who have lost 50% of their account feel that “I’ve finally turned the corner, and this is it. I’m not going to lose anymore.” They don’t switch to demo trading, and they lose everything. Don’t do this. It feels awful.

The last point here. I recently worked with a wise trader in Fiji, who realized that he wasn’t following a system with proven results — that although he had intermittent (large) wins, he also was having occasional losses that left him feeling uneasy about trading. So you know what he did? He stopped trading.

Wisely, he kept his account balance intact while he worked out the details. How long did it take him? It does not matter. My friend was willing to trade on a demo for as long as it took him to get back to trading a proven system that he could trade with confidence.

You could learn from our friend from Fiji. When in doubt, don’t take more live trades. Take NONE.



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