Currency Trading Basics – Is Perfectionism Cramping Your Forex Trading StyleThere are quite a few expert advisors out there but only a few are actually legit and can trade consistently in profit. The one I use, and the one that is reviewed on my website, has been proven to trade right 90% of the time on a very consistent basis.
The vast majority of traders think the way to win is to follow others and for some strange reason buy a get rich quick robot for a hundred dollars or so and think their going to sit back and get rich and they all lose. Another group think that being intelligent and making lots of effort is the way to success and think they can predict where prices may go in advance.
The work hard and build complicated systems and lose; complicated systems have to many elements to break and in addition, Forex markets cannot be predicted and to win you need to trade the reality of price change as it occurs. 95% of traders have been losing money since trading began and it doesn’t matter how many technological advances we see 95% of traders will always lose money and the reason they do is simple – human nature remains constant.
Despite the number of times people are told to cut losses they don’t. They run losses, chop and change trading strategies and trade to much to get revenge on the market. These traders lack discipline and lose. I have been a trader for 25 years and have seen all types of market and seen lots of innovations – but my forex trading strategy has NOT changed, it’s still the same as it was 25 years ago and still works.
I will share the logic of it with you here. An expert advisor is programmed to trade under certain parameters and conditions that have been proven to be profitable. The advisor never strays from what it is programmed to do, this is what makes it so effective. Humans are very prone to error when trading because of emotions and greed, the expert advisor eliminates this.