By Yevgeny Katz
Forex trading software is nothing more than a few lines of programming code calculating a sequence of actions. These actions use numbers and formulas to reach conclusions as to what the Forex trading software will do next - buy or sell.
There is nothing magical about this phenomenon. As a matter of fact, your computer is running thousands of these calculations as you sit here reading this. A large majority of newer Forex traders seem to be completely mystified with this concept, as they continue to spend thousands on automated systems. Unfortunately the idea of lying out on a Caribbean beach somewhere while your Forex trading software prints you money is a bit of stretch.
The Forex market changes with every single order that is placed into it each and every second. What you need is experience and discretion; unfortunately neither of those things comes packaged with your Forex trading software. There is a reason that some of the biggest FX banks in the world have real people doing their trading. These banks make billions of dollars every year; wouldn't it make sense for them to buy, or design these systems for themselves? Sure, they use automated sequencing to do some stuff, but they know very well that their big money comes from the great traders they employ. The reason they know this is because Forex trading software does not work - not in the long run.
The real question is, "Why do so many traders flock to Forex trading software?" They do so because they themselves do not know how to trade profitably. They want believe that some magic automated system knows something that they don't. In reality, if any of those traders had the right guidance and information, they could generate profits far beyond those they thought they were initially capable of. This is where having a Forex mentor comes into play.
A Forex mentor will give you insight into the market that Forex trading software never could. This insight is something that is acquired over many years of trading. It's called having intuition, or a feel, for the market. This is why real people make great traders - not some $299 EA. Working with a Forex mentor is the closest guarantee a trader could hope for in reaching their goal of trading profitably. Unfortunately, most fight this obvious conclusion and continue chasing their Caribbean beach fantasy.
There is nothing magical about this phenomenon. As a matter of fact, your computer is running thousands of these calculations as you sit here reading this. A large majority of newer Forex traders seem to be completely mystified with this concept, as they continue to spend thousands on automated systems. Unfortunately the idea of lying out on a Caribbean beach somewhere while your Forex trading software prints you money is a bit of stretch.
The Forex market changes with every single order that is placed into it each and every second. What you need is experience and discretion; unfortunately neither of those things comes packaged with your Forex trading software. There is a reason that some of the biggest FX banks in the world have real people doing their trading. These banks make billions of dollars every year; wouldn't it make sense for them to buy, or design these systems for themselves? Sure, they use automated sequencing to do some stuff, but they know very well that their big money comes from the great traders they employ. The reason they know this is because Forex trading software does not work - not in the long run.
The real question is, "Why do so many traders flock to Forex trading software?" They do so because they themselves do not know how to trade profitably. They want believe that some magic automated system knows something that they don't. In reality, if any of those traders had the right guidance and information, they could generate profits far beyond those they thought they were initially capable of. This is where having a Forex mentor comes into play.
A Forex mentor will give you insight into the market that Forex trading software never could. This insight is something that is acquired over many years of trading. It's called having intuition, or a feel, for the market. This is why real people make great traders - not some $299 EA. Working with a Forex mentor is the closest guarantee a trader could hope for in reaching their goal of trading profitably. Unfortunately, most fight this obvious conclusion and continue chasing their Caribbean beach fantasy.
The first thing I'd do (while it's still being offered for free!) is read "The Profit Button". Click here [http://ForexForSmartPeople.com] and just scroll down and enter your email address to download for free.
Or visit [http://ForexForSmartPeople.com].
Yevgeny Katz is a seasoned Forex trader in Chicago, IL.
Article Source: http://EzineArticles.com/?expert=Yevgeny_Katz Or visit [http://ForexForSmartPeople.com].
Yevgeny Katz is a seasoned Forex trader in Chicago, IL.
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