Forex Automated Trading Systems - A Roulette Or a Valuable Edge?

Forex opposer often claim that Forex trading is equal to gambling. And when it comes to Forex automated systems - these are considered a "home-based casino". Forex supporters believe that making money in the forex market is an achievable task, not gambling.

The truth is somewhere in the middle. It is well known that a casino, offering all kinds of gambling, is one of the most profitable businesses out there. The reason for that is the fact that in the long run the casino (a.k.a "the House") cannot lose simply because in all sorts of gambling the odds are in its favor. Mathematical calculation ensures that the "House" has more than 50% probability to beat the gambler in every game, whether it is Black Jack, Roulette or cubes. Sure, gamblers do win occasionally. Casino houses want you to hear about those random winners in order to encourage you to keep betting.

But what if YOU were the "House" - the owner of a super efficient money machine? Assuming that you are not going to open a legal casino in the next future, is it possible for a forex trader to become the "House" in the forex market?

In reality, some forex brokers are a version of the known casino. Those brokers have an interest to turn forex trading into gambling while they function as the "House" (and the "House" always wins, remember?).

But here comes a huge difference between forex trading and gambling: In forex, unlike gambling, you - the trader- can be the "House" if you play the game right. The absolute proof are the top 10% of forex traders who have been making money for years. That means that they are doing something right. That "something" simply turns the odds in their favor. While in the casino even the best gambler cannot shift the odds in his favor - but only to minimize his risk - in forex trading it can be done because of the unique nature of trading. Savvy forex traders know to calculate risk/reward ratio in any given moment, to spot the right opportunity at the right time and exploit the market movement in their favor. It is hard task with a tough learning curve. But forex professionals managed to become the "House" in terms of probability.

Many savvy traders use automated trading software in order to get the valuable edge in their trading, just like large investment banks who execute thousands of buy & sell orders per day. Over time, savvy retailer forex traders as well as large investment banks are making money from currency trading. Their automated trading systems just turn the odds in their favor, day in and day out.

A good automated forex trading system can ease the learning curve of a beginner and become a stable source of income. However, "over the counter" automated trading software might be useless. If you are inclined to have such software you should consider to buy only one that you can thoroughly test before risking real money. ForexAutopilot (a.k.a F.A.P.S) is an example of a highly effective forex trading software that can be tested risk free. ForexAutopilot creator - a forex insider named Marcus Leary - allows you to try his system for 8 weeks. Here is a ForexAutopilot review that explains step-by-step how to take this system for a risk-free test drive.

Whichever trading system you choose, the rule of thumb is always "try it first". Some systems are just junk. Others are good but do not fit your trading style or technical skills. So before you spend your money try to get a real feeling whether the product is for you. In most cases, creators of good automated trading systems will give you the option to test their system risk-free.

For additional forex articles and reviews visit Currency Trading Articles.

Reuters - Global recession fears returned to center stage on Wednesday after trillions of dollars pledged by governments around the world for bank bailouts eased the threat of imminent financial meltdown.

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Forex Trading - Trading Like a Pro From Home in Simple Steps

Forex trading is all about working smart not working hard. You can trade like a pro within a few weeks, if you get yourself the right forex education and adopt the right mindset. Here we will look at how to trade like a professional forex trader in simple steps...

Here they are and they will give you a head start on the road to currency trading success.

1. Accept Responsibility

Forget all the gurus and mentors and robots that say they will make you rich they won't.

You're on your own and need to accept responsibility for your actions. You need to get the right education, have confidence in it and apply it with discipline.

2. A Simple Forex Trading System

Is all you need and they work better than complicated ones, as they are easy to understand, apply and have fewer elements to break.

You should trade longer term trends not the short term noise (forget forex scalping or day trading) and focus on swing trading and long term trend following.

If you're a novice a good place to start is with a breakout system - breakouts work and will continue to work and are a great tool for profits.

3. Accept Risk Cheerfully

If you don't like taking risks forget forex trading it's risky and the difference between success and failure is knowing when to risk and how big to bet.

Many traders try to avoid risk so much they actually create it, by having their stops to close and guarantee themselves a loss - sure they have a small lose but their guaranteed to be wiped out.

When the opportunity arises take a bigger risk and you will be well rewarded, if you play the odds.

4. Discipline is the Key

If you don't have discipline you wont ever win at forex trading and that's why you have to learn and trade yourself as this gives you confidence to stick with your trading system through short term losses and not deviate from your path.

Always keep in mind, if you don't have the discipline to execute a trading system - you don't have one!

5. Know Your Trading Edge!

If you want to win you need a trading edge.

This is the edge you have over the 95% of traders who lose and is specific to your forex trading strategy.

If you don't know what your edge is you don't have one and you need to continue with your forex trading education until you do.

6. It Looks Easy - But Requires a Different Mindset

Forex trading is easy to learn and anyone can do it but most traders fail because they don't have the right mindset for success - you need a completely different mindset in forex trading compared with other professions.

For example, in society the harder you work the more you get out - this is not so in forex trading, also it's best to be with the majority in real life but in forex trading you need to be with the minority.

Also you are dealing in a world where you create your own rules to survive by, that's why you need to do it on your own. In society you simply follow the rules.

Forex trading involves taking responsibility for your destiny and is like no other venture in terms of the demands it makes on your mind. If you understand this and think you can stand on your own and be confident and disciplined, then it's likely you will make a great professional forex trader and enjoy currency trading success.

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Reuters - The Nikkei average soared more than 14 percent on Tuesday, the biggest one-day gain in its 58-year history, after governments around the world pledged to support struggling banks and restore confidence in the financial system.

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