Browsing Category: "psychology"
FAPTurbo and Forex Auto Scalper suffer in volatile conditions…
I mentioned at the end of last week that I would not be trading with FAP Turbo or Forex Auto Scalper this week as events in the US and general economic conditions seem to be hanging heavily on the market.
This seems to have been a wise decision as reading various reports things have not worked well this week. Right at the beginning of the week I noticed a trade on my Forex Auto Scalper that resulted in a 20 pip loss (this was outside of normal trading time) so I immediately closed it down.
Reading the FAP Turbo forum there are many posts where people have experienced losses, especially on the GBPCHF. Some people have lost a sizeable amount of their bank and are smarting from the experience.
Having said all that I believe there is some evidence that the big losers were using settings that were less than conservative so there is a case for reaping what you sow to some extent.
A very useful site that will provide detail trades on both FXDD and FX Pro live accounts is FapTurbo Review. When you sign up with your email they will send you a weekly commentary on how they fared during the week. They also show the settings they use to help newcomers.
I will watch how things go next week to decide whether I will start up either FAP Turbo or Forex Auto Scalper for trading. As said on many comments I’ve seen being out of the market in volatile times is just as important an investment strategy as being in it when profits are being made.
Again, many people seem to expect these tools to provide instant profits of a sizeable nature. I think this is the wrong approach. Time is on your side because the market is always there and as long as you use compounding sensibly the long term is a better bet for overall profitability.
This seems to have been a wise decision as reading various reports things have not worked well this week. Right at the beginning of the week I noticed a trade on my Forex Auto Scalper that resulted in a 20 pip loss (this was outside of normal trading time) so I immediately closed it down.
Reading the FAP Turbo forum there are many posts where people have experienced losses, especially on the GBPCHF. Some people have lost a sizeable amount of their bank and are smarting from the experience.
Having said all that I believe there is some evidence that the big losers were using settings that were less than conservative so there is a case for reaping what you sow to some extent.
A very useful site that will provide detail trades on both FXDD and FX Pro live accounts is FapTurbo Review. When you sign up with your email they will send you a weekly commentary on how they fared during the week. They also show the settings they use to help newcomers.
I will watch how things go next week to decide whether I will start up either FAP Turbo or Forex Auto Scalper for trading. As said on many comments I’ve seen being out of the market in volatile times is just as important an investment strategy as being in it when profits are being made.
Again, many people seem to expect these tools to provide instant profits of a sizeable nature. I think this is the wrong approach. Time is on your side because the market is always there and as long as you use compounding sensibly the long term is a better bet for overall profitability.
3 steps to online investing success…part 1
This is the first in a series of 3 posts where I’ll be exploring just what it takes to be involved in the world of online investing. Firstly we’ll look at some simple investor psychology, in the second post we’ll discover what you need to do to be able to make investments and in the final post we’ll delve into the sort of investments you might consider when starting out.
There are literally millions of people who are looking for the opportunity to increase their income and improve their lifestyle. They are looking for a way to earn an income for themselves that will free them from working for someone else. There is absolutely nothing wrong with this ambition but unless you understand what it takes then this goal will be hard to achieve.
Ideally investors want a higher rate of return than is possible with main stream savings accounts. As long as you understand that higher returns generally come with higher risk then you will be in a good starting place.
It’s been said many times but is still one of the golden rules, only invest what you can afford to lose. Do not deprive your family of food, shelter or clothes on the basis of some future unproven wealth. Be realistic about what can be achieved and responsible enough to pay the bills first. There are many examples of people who have taken out huge loans in the belief that an online program would be there forever and provide more than enough for all. They have not only been disappointed but also plunged even deeper into financial debt. If you can’t really afford it then don’t do it.
One great virtue to have when investing is patience. No matter what you are told there will be occasions where things go wrong or slow down. When this happens don’t panic, give the admin time to resolve the issue. By allowing time to pass the options will become clearer and mass hysteria can be avoided. Some very reliable programs have ceased because investors weren’t patient enough to allow problems to be sorted out, they made disparaging comments which led to unrest and ultimately the demise of the program. Patience is essential.
Don’t believe all you read without checking yourself. Jealousy is a pitiful trait but is often evident in the world of online investing. Some people rejoice in telling lies and spreading falsehoods about others. If you get sucked in by people like this you will find it difficult to differentiate between fact and fiction. Find people you can trust and ask them their opinion before getting involved. There are many seasoned investors who would be happy to help those who are just starting out. Take time to seek these people out, test what they say and if you are happy use them as a sounding board for any investment you want to make.
In the next post we’ll look at some of the steps you need to take to be able to invest in online opportunities.
