Browsing Category: "ultimate forex predictor"
Why can’t I trade market systems profitably…
I consider myself a relatively intelligent person and I know that to trade any sort of market you need a system. I don’t have the experience to create my own system so for me the solution is to use one created by somebody else.
There are a whole raft of systems available to you as long as you are willing to make an investment up front for the material and then to put in some time applying what you learn. With any new system it is always advisable to paper trade or use a dummy account so that you understand things before actively committing your own funds.
All sounds terribly sensible and not that difficult to do. And this impression is reinforced by the many testimonials you see from complete newbies who with little trouble are raking in the cash. And yet for me it just doesn’t seem to work that well.
As soon as I get the course/manual/dvd’s I commit time to devouring the content in a bid to get myself up to speed as quickly as possible. In most cases the information you need is well explained and the steps to take make sense so it should follow that applying all of this new found knowledge should be a piece of cake. And yet somehow it never quite works out for me.
Did I suddenly hit one of the notorious bad patches that each system will inevitably suffer from? At least the majority of authors own up to the potential for losing runs so perhaps I’ve just hit one. But then again I still see updates that show others making money so that can’t be the answer.
Perhaps I’m being too ambitious or too cautious and ‘adapting’ the rules without admitting it to myself. This is another reason I could be failing.
Am I not focused enough and letting trades get away before I can react, there are other things that I need to do so perhaps I’m not concentrating enough? The whole idea of my using a system is so that I don’t have to watch the markets from dawn to dusk so I shouldn’t have too worry too much about getting distracted (or should I?).
As I’m sure you can tell from the ramblings above I’m not happy that my personal use of systems works that well. If anyone has any usable suggestions as to what I might be doing wrong I’d be more than happy to hear them.
3 steps to online investing success…part 3
In this third and final post about the how to start in online investing I’m going to make some suggestions for those who are just starting out. Hopefully this will help to save you time and also provide some guidelines on the do’s and don’ts of this precarious endeavour.
Before making any specific recommendations it’s worth clarifying exactly what range of investments I’m referring to when I talk about online investing. Broadly speaking there are two types:
- Active
- Passive
I’m going to start with Active programs as they are best suited to those who have little or no capital to start with. Once you have earned a reasonable amount through these programs you can then start to make deposits in Passive funds where the work is done for you.
Active investments as suggested require some action on your part. This may be in the form of recruiting others or by using signals from software or other means to trade.
Let’s start on the assumption that you have no money to invest at all. Firstly, don’t expect that you will wake up one day to find vast sums of money flooding into your account, this happens to a very small minority so is not a good way to plan for yourself. If you are happy to recruit others then I’d recommend signing up at me2everyone, for free. When you do you will be eligible for 1,000 free shares in this new UK company. They have ambitious plans to leverage Web 2.0 capability by building online communities where everyone can prosper. By recommending others you will earn more shares and as the company grows the value of these shares will increase. All memberships are free and as everyone receives 1,000 shares on joining it’s a good way to get started.
If trading on the markets appeals to you then I have three recommendations to make. Firstly George Smith at Forex Trading made e-z has a strategy that can provide a steady return with minimal risk. At $77 for his e-book and video’s this is great value for money. As his trading style may not suit everyone he provides a full 60 day money back refund policy.
For those people (especially in the UK and Europe) who would like to trade the markets in the evening then you should take a look at Foolproof Evening Trading by Louise Woof. Priced at £157 Louise provides a simple system that has given good profits every month. Note that this is based on spread betting so you should check to make sure that you are allowed to do this is your country.
At the more costly end of the market is the Ultimate FX Predictor from Keith Cotterill. With this system you get a software program that provides signals as to when to enter trades on the major currency pairs. As well as the software there is a comprehensive support system in place to help if you have problems. Also, Keith provides regular video updates and commentary on the days trading and his thoughts on what will happen in the short term. At over £2,000 for the system and a monthly ongoing cost of $80 for the data feed this is not something to be entered into lightly. Again, this is a spread betting product so check that it is okay to use in your country.
Okay, so now let’s look at some Passive opportunities. Here all you need to do is provide the funds and leave the hard work to others. Whilst several of these opportunities don’t cost much to join you should note that they don’t provide a great deal of information about how they work and their communication is not always that great. One place where you can get up to date information about most of them is at the Secure Your Future forum so if you do consider parting with funds then I’d recommend you join this forum as well.
As we approach the end of January it’s a great time to join Global Pension Plan. It costs a very reasonable €20 to join and the reward is €55,000 (€110,000 if you are under 27). This program has been online for some time and the admin has announced that it will finally close at the end of January 2009.
Also nearing completion is Thirty Dollar Unit so once again it is important that you act quickly if you wish to take part. Here you pay $30 with a return of $12,500 when payouts are made. It is important that you follow instructions carefully when signing up as there are a large number of people signing up at the moment and any mistakes will only delay final payout (please add name John Murphy as referrer).
You could also consider Imperia Invest as for a reasonable $50 you can end up with a healthy return of $134,000. Note that your Traded Endowment Policy (TEP) would need to be in place for six months before you see your return.
If Trading FOREX passively is of interest then take a look at Forex Auto Scalper (download for free) and FAP Turbo (currently $149 but due to rise to $399 soon). These are both Expert Advisors (EA’s) that you apply to a live account and will trade for you.
If you are looking to start some online investments as described above you will obviously need to consider some of the points raised in my first post that relates to the psychology of investing and when satisfied that you match the personality type you can move on the next stage which is finding a payment processor as described in my second post.
Take your time in reading about all the opportunities presented here and please let me know of any questions you might have. Good luck.
