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Make Money With Forex Trading Systems

By: Nelson Woolwine
When you are new to forex trading then one of the best things you can do is to follow somebody that is successful already and do what he does. This way you learn while you earn. Unfortunately, there are not many successful traders who are willing to share their knowledge with others. Forex trading keeps them too busy.

There are two options. Either you follow the trades of a trader or you follow the buys and sells of a trading software program. Both are totally different worlds. We need to take a closer look.

There are many services that charge a monthly fee for a software based solution. You can log in to a site or download a software that gives you trade alerts. Do this, do that. A good idea to follow and learn, but only with a demo account and not with real money.

Although many of these systems claim to make money, they actually burn money. Why? When a computer software is generating forex trades, then these trades are based on mathematical parameters. This is the biggest strength of a software, it has no emotions and acts based on some facts. The flip side is that the program is stupid. It has a very limited ability to learn. It will act the same way over and over again. This is why 99% of all mechanical trading systems fail sooner or later. They work great for a short period of time but the day comes where they fail miserably. It is a simple truth.

A system like that needs to be adjusted very often in order to work. And there are systems that work very well. The bad news is that you need a lot of experience to make these adjustments. If you want to follow a system with real money make sure that the programmer or the trader who has developed the system and trades with it, is making the fine tuning all time. Otherwise you will loose big time.

The second option is to follow a good trader directly. Many traders give trade calls during the trading day and tell you what to do in real-time. This is often the better solution because a good trader will always outperform a software in the long run and you can learn from his advice much more than from a software.

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About The Author, Nelson Woolwine


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