Forex Time Machine by Bill Poulos
Sunday, September 20th, 2009 Subscribe To Our Feed
Forex Course
Everybody knows that forex EAs are the new “hot” thing in forex trading. For those that have no idea what a Currency exchange EA is, it stands for Foreign exchange Expert aide. It’s fundamentally a trading robot. The developer of the EA sets up a trading system with lagging indicators like stochastics and moving averages, and creates a code that your trading platform uses to trade for you when you are not around. So, basically it can trade for you while you’re asleep, at work, taking a shower, etc… Sounds incredible doesn’t it? Well there is one tiny thing you should know about them. The majority fail miserably.
Just flick thru pretty much every single forex forum online today. You will get a gutful of forex EAs. They are all over the place. After you have spent 4 or 5 months demoing and crashing your account with them, you might have wished you’d spend your time a little bit more carefully.
A successful Forex EA is a lot like the holy grail of trading. You hear about it a lot, but you never see it, do you? There’s a good explanation for it : A robot can’t trade for you.
I learned this the tough way ( as I am sure many have ). We all need the simple way out. But simple logic tells you that a robot cannot intuitively react to market news. It isn’t like the robot can hear what the state is announcing about the state of inflation. Even more so, a robot does not understand how to trade the rhetoric.
The irony is if I took that time that I wasted hunting for the holy grail and spent it learning the way the market moves, I might have gotten successful a lot sooner.
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Learn the way to trade foreign exchange THIS way…
Our research and surveying has confirmed that too many new and green forex traders simply do not understand how to manage risk in each trade — and all too often, the result’s the same : they wipe out their accounts.
here is what we find is occurring. Forex has grown in popularity so quickly that many traders who are new to forex trading have just waded into the waters, opened an account and have begun putting on trades without any real thought or planning to how to approach trading.
It should be obvious the issue with these thoughts are almost no understanding of how to approach trading foreign currencies and the major risks to capital that it poses. All to frequently new traders attempt to trade first and learn second.
And the results of that learning is the loss of their account balances. Hey, let’s be truthful, trading on a demo account is never the same as trading with real cash. You do not apply the same emotional control, the same trading beliefs or rules, you will take greater risks with the demo account and play too safe with the live account ( regularly to your own loss ).
Reverse your thinking : learn first, trade second. In fact, generally, the need to reverse people’s mindsets about forex is what’s required. Learn the proper way to trade first, and THEN take that data to the market and trade with it.
as part of that learn first scenario - the number one element to trading forex that new, green or unsuccessful traders should learn is how to MANAGE RISK 1st in each single trade.
Today, one of the most well-respected forex educators, Bill Poulos, released a video that teaches traders exactly how they deserve to be trading forex. And, how traders can put more trades in their favor by erasing risk — it’s very cool thinking and it’s not what’s being taught by almost all of the supposed ‘Gurus’ out there.
Catch the video here :
Buy Forex Time Machine
By learning to manage risk FIRST, traders will find their trading transformed as they can approach forex trading with a wholly different mind-set, a plan for erasing risk and a solid set of rules by which to trade.
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