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Orhan Ekiz
Automation in trading is every trader’s fascination.
It’s a process in which a computer program executes your trades.
Or give you directions, which you could execute manually.
It operates depending on certain rules.
And generates trade entries and exits.
You can build your own program or buy a reliable one.
Then you can easily attach it on your trading platform like MT4/MT5.
The main advantage is the absence of emotional factors and errors.
And the automated system works 24 hours a day without any tiredness.
It frees the trader from sitting in front of the terminal for long hours.
But if there is any bug in the software, you are prone to incur a huge loss.
Then, backtesting the program is also very important.
It helps you to avoid unwanted results.
How does it work?
It is called robots, expert advisors, or auto traders.
The internal technical system may vary from system to system.
But they operate in the same manner.
Setting up the system in your trading platform takes only a couple of steps.
It works as an add-on in your platform and uninstalling is also an easy one.
Many traders use more than one system to suit different market conditions.
In general, there are two types of automated systems.
They are automatic and semi-automatic.
The automatic system needs no input from you and places trades for you.
The semi-automatic system gives you the direction.
And you can place the trades manually.
The automatic systems come with proprietary algorithms.
These are mathematically based.
And remains the intellectual property of the manufacturers.
You get alerts for your trades, and you can decide your buy/sell.
But, to begin with, test your system with a demo account.
Though there are a lot of scamsters, not all auto trading systems are fake.
Money can be made by using the right auto traders.
Advantages of auto traders
It works in certain strategies and saves you from emotion.
A series of losses affect even the experienced trader.
Alternatively, constant profit-making also induces greed and offsets the strategy.
So, automating your trading is a really smart way for your forex earning.
Auto traders do technical analysis for you and give you precise signals.
And auto traders work 24 hours a day.
It’s a handy tool for newbies also, who don’t know the market fully.
How to choose the right one
There is no one way to choose the right one.
Go for reviews.
Professional as well as user reviews.
Back test the auto trading system with historical data.
Also know the manufacturer thoroughly.
It’s a process in which a computer program executes your trades.
Or give you directions, which you could execute manually.
It operates depending on certain rules.
And generates trade entries and exits.
You can build your own program or buy a reliable one.
Then you can easily attach it on your trading platform like MT4/MT5.
The main advantage is the absence of emotional factors and errors.
And the automated system works 24 hours a day without any tiredness.
It frees the trader from sitting in front of the terminal for long hours.
But if there is any bug in the software, you are prone to incur a huge loss.
Then, backtesting the program is also very important.
It helps you to avoid unwanted results.
How does it work?
It is called robots, expert advisors, or auto traders.
The internal technical system may vary from system to system.
But they operate in the same manner.
Setting up the system in your trading platform takes only a couple of steps.
It works as an add-on in your platform and uninstalling is also an easy one.
Many traders use more than one system to suit different market conditions.
In general, there are two types of automated systems.
They are automatic and semi-automatic.
The automatic system needs no input from you and places trades for you.
The semi-automatic system gives you the direction.
And you can place the trades manually.
The automatic systems come with proprietary algorithms.
These are mathematically based.
And remains the intellectual property of the manufacturers.
You get alerts for your trades, and you can decide your buy/sell.
But, to begin with, test your system with a demo account.
Though there are a lot of scamsters, not all auto trading systems are fake.
Money can be made by using the right auto traders.
Advantages of auto traders
It works in certain strategies and saves you from emotion.
A series of losses affect even the experienced trader.
Alternatively, constant profit-making also induces greed and offsets the strategy.
So, automating your trading is a really smart way for your forex earning.
Auto traders do technical analysis for you and give you precise signals.
And auto traders work 24 hours a day.
It’s a handy tool for newbies also, who don’t know the market fully.
How to choose the right one
There is no one way to choose the right one.
Go for reviews.
Professional as well as user reviews.
Back test the auto trading system with historical data.
Also know the manufacturer thoroughly.
· 1
Orhan Ekiz
Check Your Forex Capital - Is it the right amount, or do you need more?
Every forex trader, whether he/she is affluent or the one who trades with limited capital, raises this question again and again.
The right answer is, “ Invest the amount which you are ready to lose.” - if you want to play it safe. At the same time, there arises plenty of issues when your trading is undercapitalized.
As you’ve chosen the forex trading as your business, you have to analyze the money-aspects of it in all possible ways. Before you start your trading, analyze your lifestyle - the costs involved in the day to day life, and the costs involved in equipment, services, drawdown periods, etc.
Beware, even good traders fail in the forex market due to bad assessment of expenses and undercapitalized trading.
The key point to succeed in the forex market is sustaining in the market for a long time. Only proper funding of your trading will help you to withstand the period of bad trading and sustain in the market. Subsequently, by withstanding in the market, you can make use of good trades and do good business.
Ask yourself the following questions, which will help you to get an idea about the capital you require.
Do you opt for part-time or full-time trading?
Do you depend on forex for your living?
How much money do you need for education, trading tools, and other equipment?
How much money could you afford to lose?
How much drawdown can you withstand?
How much do you expect in return per week or a month?
Put the needed effort and answer these questions. At the end of the process, you could get an idea about the right capital amount you need for your forex business.
In the forex market, a lot of brokers do their business and offer a variety of services. Some brokers offer trading for as low as $50 capital. It doesn’t mean you can start your trading with low capital.
If you employ the safest 1% of your capital as the risk, you could make your trade only for $1, if the available capital is $100. But with a $5000 investment, you could use $50 for each trade, and it’ll also raise your earnings per trade.
When we sum up, starting with at least $500 gives you flexibility in how you can trade. You won’t have it in the case of $100 capital. Otherwise, starting with $5,000 or more is even better. It helps you to get a reasonable income, which compensates the time you spend in trading.
So, you need no big investment to start and sustain in forex trading. But too small investment could do no good for you either.
Every forex trader, whether he/she is affluent or the one who trades with limited capital, raises this question again and again.
The right answer is, “ Invest the amount which you are ready to lose.” - if you want to play it safe. At the same time, there arises plenty of issues when your trading is undercapitalized.
As you’ve chosen the forex trading as your business, you have to analyze the money-aspects of it in all possible ways. Before you start your trading, analyze your lifestyle - the costs involved in the day to day life, and the costs involved in equipment, services, drawdown periods, etc.
Beware, even good traders fail in the forex market due to bad assessment of expenses and undercapitalized trading.
The key point to succeed in the forex market is sustaining in the market for a long time. Only proper funding of your trading will help you to withstand the period of bad trading and sustain in the market. Subsequently, by withstanding in the market, you can make use of good trades and do good business.
Ask yourself the following questions, which will help you to get an idea about the capital you require.
Do you opt for part-time or full-time trading?
Do you depend on forex for your living?
How much money do you need for education, trading tools, and other equipment?
How much money could you afford to lose?
How much drawdown can you withstand?
How much do you expect in return per week or a month?
Put the needed effort and answer these questions. At the end of the process, you could get an idea about the right capital amount you need for your forex business.
In the forex market, a lot of brokers do their business and offer a variety of services. Some brokers offer trading for as low as $50 capital. It doesn’t mean you can start your trading with low capital.
If you employ the safest 1% of your capital as the risk, you could make your trade only for $1, if the available capital is $100. But with a $5000 investment, you could use $50 for each trade, and it’ll also raise your earnings per trade.
When we sum up, starting with at least $500 gives you flexibility in how you can trade. You won’t have it in the case of $100 capital. Otherwise, starting with $5,000 or more is even better. It helps you to get a reasonable income, which compensates the time you spend in trading.
So, you need no big investment to start and sustain in forex trading. But too small investment could do no good for you either.
· 1
Orhan Ekiz
Lately, we have been receiving many queries from our customers regarding choosing a broker. While we are not affiliated with any broker, we want to give you a small tip when it comes to choosing a broker. If you follow this advice, your account will be much secure. Before handing over your hard earned money to a broker, it is very important to follow this rule of thumb.
Each country usually has a regulatory agency for Forex brokers. These regulatory agencies regulate Forex brokers and make sure that they are doing a fair and honest job. So, a very important thing before choosing a broker is to check if the broker is a member of the regulatory agency in your country. For example, the regulatory agency in the United States is National Futures Association (NFA) and Commodity Future.
A simple way to check if a broker is regulated by a regulatory agency is to check the 'About us' page on their website. All legitimate brokers usually mention there if they are listed or not. If you have any doubt, call up their customer service and check with them if they are listed by the national regulatory body.
Each country usually has a regulatory agency for Forex brokers. These regulatory agencies regulate Forex brokers and make sure that they are doing a fair and honest job. So, a very important thing before choosing a broker is to check if the broker is a member of the regulatory agency in your country. For example, the regulatory agency in the United States is National Futures Association (NFA) and Commodity Future.
A simple way to check if a broker is regulated by a regulatory agency is to check the 'About us' page on their website. All legitimate brokers usually mention there if they are listed or not. If you have any doubt, call up their customer service and check with them if they are listed by the national regulatory body.
· 1