The forex market is extremely volatile. It can react wildly when a news story hits. Sometimes it can even shift for no apparent reason at all. With all these fluctuations, trading forex can take you on an emotional roller coaster ride.
So, given the above, why do so many people want to get into forex so badly?
Because you can make an incredible amount of money with forex over a very short span of time – literally in one day even!
Talk to just about any forex trader over a beer and get them to admit the truth and they’ll tell you the reason they trade forex is because they are addicted to making oodles of money over such a short period of time. Once you get caught up in forex, it is hard to stop.
However, there’s a dark side to forex too. If you don’t know what you’re doing, you can lose your money as fast as other people make money! So, if you are going to be serious about forex, you need to follow a strategy that is going to help avoid this dark side.
So, what is the best forex trading strategy?
For all but the most advanced forex trader – and I’m referring to a person who consistently makes THOUSANDS of dollars of profit a month from trading forex – the best strategy is to sign up to receive forex signals from a highly successful trader and then follow them trade for trade.
In this way, you can begin making good money right away while you learn. In fact, this is the best way to get a real feel for the market and to learn how to handle things as it fluctuates. Otherwise, you’ll be so busy trying to analyze (or over-analyze) things, you’ll stop trading every time the market shifts or worse, you’ll lose significant amounts of money because you don’t make the right shift in your trading strategy.
The instincts of a beginning forex trader are often wrong. This is not only from a lack of knowledge but because it can be very difficult to keep the emotion out of trading forex at first as it takes you on a roller coaster ride. This emotion can easily cause you to make the wrong trading decisions.
You’ll want to make sure that the signals you are receiving are in REAL-TIME so that you will have enough time to execute your trades close enough to match their trades that you are truly copying what they do.
Like any other area with there is lots of money on the table, there is always the potential for fraud in forex so it is important that you test the forex signals you are being sent in a demo account before you use any real money. In this way, you can judge whether or not they are going to be profitable for you and you can judge just how profitable they will be. It’s also important to get the hang of the platform you are using before you start using real money. You don’t want to be trying to figure out some little technical difficulty when you have real money on the line.
Experienced forex traders have learned to employ many different strategies and they know exactly when to use each one and exactly when to stop using each one. I’ve never seen a book or a course that could really teach this. It’s one of those things that is best learned as you follow along with an experienced trader – which of course is another reason signing up to receive forex signals from an experienced trader is the best forex strategy for most investors.
Keep in mind that automated forex signals can not respond in the same way to market fluctuations that a real human being can respond. For this reason, forex signals sent from a real forex trader and far superior to the signals sent by an automated system.
Signing up for real-time forex signals from an experienced trader is by far the easiest way to make a profit your first year of trading – and it is very simple to test the signals in a demo account before you actually put any real money on the line. In this way, you can greatly reduce your risk.
Here is the very best forex signal service. These real-time signals are generated by a highly successful trader and I have tested them thoroughly. I find them to be the most profitable signals on the most consistent basis.