Category: Futures Trading

It’s all in the charts. So says the day trading system you bought yesterday. And the day trading course you bought last week. And the day trading books you’ve read over the last year. If you buy the bottom of the candlestick and sell the double top while placing your stop one standard deviation from the mean and shoot for a profit of three times your risk, riches will come to you. Great prosperity awaits.

If riches do not fall into your lap, it’s because you didn’t read the charts right. That wasn’t a real double top. That was a false breakout which became a pennant which became a flag and then turned into a talking duck. Here’s a tip: Save yourself some money and don’t buy anything else which talks about technical analysis. It’s killed more traders than mortgage-backed securities.

If a mechanical day trading system ever works at all, it will eventually fail. They all do. I repeat. They all do. It’s not hard to understand why.

Neither Greenspan nor Bernanke has ever moved a market. No economic report about CPI or PPI or unemployment has never moved a market. Computers have been known to move markets but I’m pretty sure it was only when they were turned on by a person. HUMANS move markets. Humans who trade. Humans who buy and sell. Not exactly an earth shattering epiphany but you would be surprised at how many traders never seem to grasp this concept. Humans with access to large amounts of money move markets. Guys at banks and hedge funds. Traders who swing 5,000 contracts at a clip. You won’t ever move the market. Neither will I. But if you and I and a bunch of other small traders all panic at once, we might move it temporarily.

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One of the main factors which prevents a trader from making gains in his trading is fear. Too often when it comes to putting down the money from a trade, a trader will back out filled with fear of losing his capital. This is a common feeling that one will get when venturing into something that they are not sure about. Furthermore even when they do trade and lost on their first bad trade. They will mostly be withdrawn and resort to “safe” trading using only 2 % of their capital.

Bear in mind fear and caution are two entire different matter although the feeling is similar. In all forex trading caution is a necessary stance to adopt. If we do not have caution, then we be trading completely on whims and fancies. When such is the case, everything becomes unpredictable. Also it is a bad investment strategy to adopt. But there are some tips which you can follow to to remove fear from your system.

1. Pull up fear from the roots

The first thing to do is to identify the root cause of your fear. Some will say it is because of the fear of losing money, but most cases the reason runs deeper inside us. In fact one of the primary fear a trader has is to get laugh at by their peers making them feel foolish. The second reason is a self fulfilling prophecy that if they see “proof” that they are no good in forex trading.

After many heretofore unsuccessful attempts to create a software system that takes the guesswork out of trading, finally there is the Forex Autopilot System. However take care not to look this supposed gift horse in the mouth.

Traders believe that software that could expertly predict trends and market fluctuations will help them tide over most of their troubles. This system will enable you to act according to your discretion when you can perceive market trends beforehand! This is what actually constitutes the essence of currency trading, and is based on the concept of the Fibonacci formula.

Computers and other available intelligent software in the market have already made it possible for traders to reap maximum profit from forex business, within the shortest time bracket. The forex autopilot system is also called the forex robot and this is actually a fully automated trading system of the currency that predicts marketing trends and consequently takes trading decisions on your behalf.

For maximum profits you are looking at investing in an enhanced automated forex trading system. Using a system of algorithms they calculate the most optimum entry and exit points for your trading decisions. They may even boast cash supervision tools that minimize your financial losses.

There are a variety of forex robots on the market so you need to investigate before you buy. A $65.00 a month program-usage fee is standard but the enhanced Forex Autopilot Systems will run you up a heftier fee than that.