Having the right mindset for trading the Forex market – trading psychology if you like, is essential to success. This sometimes over-looked area of Forex trading is detailed below in a video interview from the recent Virtual Money Show event. In case you missed it here it is again – some great advice.

IvyBot seems to be the one of the most popular. So let’s take a look at these reviews to find out more about using a Forex robot to trade…

One of the main features of IvyBot is that it has four settings so you can use it for 4 different currency pairs.

Most Forex robots are configured around the EUR/USD pair…however, IvyBot has individual robots developed specifically for 4 pairs. This means you can be very targeted in your trade set up and maximise the return on your investment after buying the product.

IvyBot Features

Following are the main features of Ivy Bot Robot.

• Automated Trading Robot – Completely Hands free
• Profitable trading system
• Automated Risk Scaling
• Active Trading
• High Spread Protection System
• Easy Installation. Ivy Bot is very easy to install.
• Trades multiple currencies
• Four unique trading robots for 4 currency pairs.
• Ivybot got Build in Loss Prevention
• Extremely low Drawdown
• Profits with real money.

The Ivy Bot Package includes the following:

• 4 Ivybot Forex Robots for four currency pairs
• 25 Page Installation guide with detailed instructions.
• 3 step by step Ivbot Installation Videos
• Free Scalper settings for Ivybot robots. Ivy Bot offers high accuracy scalping system.
• Life time Free updates.

OK so a couple of things to consider…

- You still have to press the button to enter/exit the trade! This still requires you to be detached from the market and take the risk on the software.

- Personally I don’t believe that ANY strategy is 100% accurate. The market gives what it does and you have to take what you can when you can.

I hope that helps. Take a look at the  Ivybot site by following the link.

Further reviews can be seen here:

http://www.ezinearticles.com

http://www.forexnewschannel.com/ivybot

Good trading to you all.

Annabel

Tradeview Forex gives some good tips on using Metatrader 4 settings for your Forex trading

Traderview Forex gives some good commentary on how to change settings in Metatrader 4 plus some good up to date views on the Forex market in general.

He explains which settings to use and how to identify the correct signals for entry and exit points based on a candlestick chart. Short but to the point with other related posts.

Check out his blog for some good quality content.

How To Use Forex Indicator RVI On Metatrader 4

Happy Trading

Annabel

]]> http://www.forextradinginfo.org/forex-trading-how-to-use-the-rvi-indicator-on-metatrader-4.htm/feed 0 http://www.forextradinginfo.org/forex-trading-a-false-breakout-fakey-strategy.htm http://www.forextradinginfo.org/forex-trading-a-false-breakout-fakey-strategy.htm#comments Thu, 22 Oct 2009 16:33:36 +0000 Annabel http://www.forextradinginfo.org/?p=266 How Do You Know Which Forex Trading Strategy Actually Works?

Does learning and following Forex trading charts really help?

Well I got thinking how I learnt to trade and progress my now successful Forex trading career and found this video for you. It really gives you a good solid strategy and some good advice aswell.

Personally I have always had a fascination of how the Stock Market and Forex Market work which keeps my intrigue everyday! Look for the candlestick chart patterns to present themselves to you rather than forcing a trade due to frustration. The Forex trading video below shows a good strategy based on a longer time frame than I trade but it will give you some basics to look out for.

Candlestick chart patterns present a visual representation of the general sentiment of the market. I have written a whole chapter in my Forex trading book Trade Forex From Home about candlestick charts and the most important ones to watch for. You can find it here under Forex Training

Hope you found the video of use in developing your Forex trading profits. Take a look at the strategy and paper trade/use a demo account first to get used to identifying the setup before trading with your live account.

To Your Success

Annabel

Here are some tips if you are looking to make your Forex trading more profitable on a consistent basis.

• Recommended: keep your Forex trading strategy as simple as possible!

You have heard of the KISS strategy right? Keep It Simple and Straight-forward, well this definitely applies to Forex trading.

Forex trading requires good, fast decision making by acting upon your trading strategy. This is so much harder to do if you have many indicators, Moving Averages, oscillators etc to check. To make fast decisions you need to have a clear head to think. By limiting the amount of information you have to process before placing a trade will make this a whole lot easier!

• Are you keeping a note book or journal of all your trades?

If you write everything down, you will be able to analysis your Forex trading plan. Sometimes you will need to go back to the note book and fine tune your strategy to weed out the indicators, Moving Average settings which may not be working for you.

The only way to be consistent is to trade in the same way, at the same time of day over a period of time. Make sure you find out when to expect the results of Fundamental and economic announcements. This will mean you do not get whipsawed out of the market and your trades lost due to bad timing.

Great! So we have a good Forex trading strategy with minimal techniques to help identify the trade, now what?

• Well, another point about Forex trading consistency is keeping your emotions in check.

If you trade differently every time you open a position then you will be inconsistent with your winning trades. Build confidence in your trading plan. The best way to do this is over time through paper trading first, followed by using a demo account from a reputable Forex broker. Once you have your strategy nailed down, this will give you the confidence to trade with a minimum lot size while you gain experience with the risk factor of trading a live account.

Something which works for me is to think of each trade in pip or point value. So, instead of thinking of how much money you will gain or lose, look at it in a different way. How many pips will you gain or risk with your stop loss.

Consequently, money is taken out of the equation together with the associated emotions.

So, in order to be a consistently profitable Forex trader you need to have a simple yet effective strategy with every trade recorded in your Forex trading note book. Make sure you know when to look out for economic and fundamental results which may move the market in an unexpected way.

You have done a great job to get this far…so have confidence in your strategy!

If you are trading a live account, then you would have come a long way in developing your Forex trading strategy and you will be able to benefit from your hard work. Keeping your emotions in check will allow you a clear mind to take those trades and make your profit trading Forex.

To Your Success!

With best wishes

Annabel

Where do you find a profitable Forex trading system?

I recently came across this great Forex trading system from the Babypips forum. I would highly recommend joing this forum – lots of great traders discussing strategies, analysis, fundamentals and there’s a cool play area too for those after hours games! Having recommended this web site to many I thought I would add a post about it.

Most people want to get their teeth into a Forex trading as soon as they can! This gives you a good starting point.

The system is called Cowabunga from the guys at www.babypips.com and trades mostly with Cable – The Cowabunga System. Thanks to babypips for sharing!

It’s clear to follow and gives some good entry points which works well on Cable – one of the best currency pair to trade especially for beginners. Use this to gain confidence and consistency with your trading – remembering to keep detached from your trades.

Happy trading – let me know how you do!

Annabel

Uncover some powerful Forex trading tips here…

This video is crammed full of really valueable information for your Forex trading success! McRae discusses the importance of identifying high probability trades based on your trading plan and then letting the market come to you.

This confirms the theory that sometimes you have to sit on your hands and not trade the Forex just for the sake of it.

Logic and detachment from the market is key!

Enjoy the video and hope it helps your success with Forex trading.

Happy Trading!

Annabel

Follow this short video for a good trading strategy based on Candlestick formation. It’s good to know a little about Candlestick chart patterns so you can identify this move too!

Happy Trading!