Monday, October 5, 2009

Forex - OK I finally tried getting into forex

My trading has been quite limited in the last year or so due to my focus on my animation company and my time spent going back to college. But due to the fact that the forex markets are open all the time, somewhere, I decided to devote a little bit of time with a new system that I have, combined of course with usage of TradeLogger to help me mitigate losses. As a programmer I am a big fan of automated trading for a variety of reasons. One, auto trading operates with consistency, humans do not. Auto trading systems also run without emotion, either greed or fear. Humans obviously do not and that in itself interferes with consistency. An autotrader can take a loss and then enter the next proper trade without fear or hesitation. It can likewise take a profit without letting greed get in the way and keep you in a trade longer than you should and increasing or chances of having a winning trade turn into a loser.

I am currently utilizing several trading robots that each work on different forex market conditions. The complete system is a combination of several trading strategies: trend following, breakout trading, scalping trading and grid trading. It’s continuously updated from outside servers, and it produces consistent profit no matter what the market conditions are like. They may not always be huge profits, but I'd rather take consistent smaller profits than sporadic big profits with many losses in between. The nice thing about this system is that it is totally 100% automated. No more thinking required, and we all know that in trading, thinking can definitely get in the way. It's about reacting not thinking.

I recommend this system to anyone looking to increase their consistency in forex markets. To find out more about the system I use check out:

FOREXBLING - The Jewel of Automated Forex Trading

You'll be glad you did.

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TradeLogger - equity curve management

TradeLogger is a FREE program that helps day traders and swing traders minimize the drawdown in their equity. Close to 2,000 traders are now utilizing TradeLogger's easy-to-use interface to log their trades' profit and loss and receive a clear, consise signal whether their next trade needs to be a LIVE trade or a SIM trade. This is all based on how well their equity curve is performing.

The benefit of this program is it saves you capital when your trading performance experiences periods of drawdown while in a losing slump, whether it's due to the skill of the trader, or just lack of follow through from the market due to market mechanics.
You can download at www.TradeLogger.net.