Submitted by: Winsor AGA Hoang
Have you ever come across a TV ad, spam email or other media about trading 15 minutes a day in the Forex market? Seriously, it does not work. Forex is a 24-hour activity, and unfortunately, we cannot stay awake 24 hours a day, trading the market. All successful traders are full time professionals, and they work extremely hard 10 to 12 hours a day, monitoring the market to earn their paychecks. Fifteen minutes a day to participate in this market is not feasible, as it would only give you enough time to turn on your desktop computer and launch your trading platform, let alone be successful in trading this market.
Many inspired traders have full time jobs or don’t want to commit to full time trading; hence, the notion of trading the Forex market 15 minutes a day is extremely tempting. Imagine that the Forex market is filled with professional full time street ball players. If you only practice 15 minutes a day and come onto a court, the professionals will take your money before you know it. So why are there always new and inspired traders thinking that they will conquer the Forex market? It is very simple. Every two or three days, there is a new top Forex trader preaching about his or her streamlined Forex trading strategies. They always claim that their systems are a must know strategy to capture consistent profits with little time required. Before purchasing a book, software, or a trading system, you should ask yourself a simple question, “Is the author making money from trading or from the profits of selling the item?”
Most professional traders are too busy earning big money trading the market and have very little time to write, unless they are retired. All good traders dedicate 100% of their time trading, and it is not in their nature to trade and write books at the same time.
How can you find out if your Forex instructor is honest? You just need to ask a simple question, “How long would it take me to become a good trader if you were my full time trading mentor?” If the answer is a few months, you should ask for your money back and walk away. All medical students have to perform two years of residency before they can become new doctors. Most professional trades require 12 to 18-month apprenticeships before they are licensed to work on their own. Trading is a profession and should require similar apprenticeship or mentoring duration.
The only way to be successful with Forex trading 15 minutes a day is to use managed Forex trading software service. Look for creditable and trusted Forex companies to rent their trading software. Most profitable Forex companies will not sell their trading software as it is part of their intellectual property. Beware of companies and individuals trying to sell their Forex expert advisors for $300 or $1,200. Ask yourself a simple question, “If you own a Forex expert advisor that can make $1,000 per month, why would you sell it for only $300?” Don’t trust forum postings or testimonials. Look for long term trading results of six to nine months, not software that claims to be profitable in just the last 3 weeks.
About the Author: Registered Professional Engineer Winsor A.G.A. Hoang, Founder of http://www.ctsforex.com . He has developed 5 managed Forex trading software for auto trading. His automated software is internationally ranked with live trading results published every 30mins, use as free Forex trading signals.
Source: www.isnare.com
Permanent Link: https://www.isnare.com/?aid=476788&ca=Computers+and+Technology
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