What is EA on Forex trading and what is the benefits of EAs on Forex?

Forex EA or Forex Robot

When we search the internet about Forex trading we see things like Forex robots or Forex EAs. So what are these  Forex robot and EAs? Forex EA or the abbreviation for it is expert advisor is a software or a robot that trades automatically in behalf of you. They are programmed based on many indicators and when they see signals from those indicators they automatically place orders whether is a but or a sell order. Forex traders use EAs quite often. The most useful thing about EA in Forex trading is that you can trade when you are not around the computer. Forex trading is a tough job and a 24 hour market. So in this case EA helps in Forex trading by automatically taking decisions. Ok now the bad sides of EAs on Forex trading is most of the EAs won't last long maybe a month or two max. When they starts to give wrong signals and makes wrong decisions they will wipeout your account slowly slowly to zero. So this is the most important reason to not only depend on Forex EAs while Forex trading. It is very difficult to maintain huge losses. And if you want to use any EAs or robot on Forex trading than first back test it with strategy test which is available with every meta trader platforms. But i would suggested to not use Forex robot on Forex trading because these are very risky maximum of the time. So don't buy expensive EAs because when they fails both your money and trading capital is lost. So always use your own trading knowledge in Forex trading rather than your robots. That is for now and keep visiting my blog to get for  information about Forex trading.

What are the basic things Forex newbies must know?

Newbie Forex Traders

Well there are millions of Forex traders all over the world. Everyday new Forex traders joins the Forex market. It is now easy to join Forex market through the advancement of the internet. Forex trading is like a business and every newbies should treat it like one. I know out of millions only thousands will remain on the Forex market for long and rest of them will end up losing on the Forex market. Why is this? Because i heard and saw and also read that many newbies want to start Forex trading because they want to get rich quickly. This is something that will always make you a loser on Forex market cause nothing in the world will make you rich faster and not even Forex trading. Why newbies think like this? They think like this because Forex market is the most liquid market of all. This is many times bigger than all the stock market in the world combined. And everyday about trillion dollars are hand changed all over the world. Even in a single minute you can gain a lot of pips or profit. And also many of the online Forex brokers allows leverage by which you can trade huge amount of volume with low capital. So by this advancement the newbie Forex traders thinks that it will be easy to invest money and grab huge pips with high volume lots. But the problem is they don't study the market and also they don't use stop loss or proper money management while trading. This causes them huge money and they lose money n the mean time. So Here in my post a simple strategy will help you a lot in your Forex career. That is use stoploss in every trade and also use take profit bigger than stop loss. Think like this say you place stop loss 50 pips and take profit 150 pips and you open 10 trades. Ok now if you lose six trades and than win 4 trades than still you are gonna be in profit. This is because 150 pips gains is three times the 50 pips loss. And if you lose 6 trades than you lost 300 pips but winning four trades you won 600 pips almost the double. So here 300 pips is the total profit. Use this trick on your trade in Forex and you will master in the Forex market for sure. Don't ever ignore stop loss because it will ruin your entire account and will create problem in your Forex career. So that's it for now. I will post later about some more Forex strategies and Forex indicators. Take care friends.

Starting of my Forex journal

Forex Trading 

Hello everyone. How are you all. I assume that 90 percent of the people who will visit my blog are Forex traders or traders. I started this blog from today and i will write here various tips and techniques of how you will achieve in the Forex market. Well Forex trading is a worldwide thing and for technical advancement we can trade Forex through our personal computer or even from mobile and tablets. In here in my blog i will share a lot of thing about this Forex market. I saw many new traders entering the market everyday and eventually ends up losing a lot of money. The thing that i want to say to my first post here to the newbie traders is Forex trading is definitely not easy and we and you need to work really very hard to achieve success on Forex trading. Otherwise you won't be able to cope up with the Forex market. The First thing you should always remember that Forex is another kind of business and not at all a get rich quick scheme. Who tells you that they can give you 100 percent return quickly and surely than they are lying most of the time because no one can surely tell about the Forex market. It is not a perfect science but with lot of hard work and understanding of the Forex market can lead you to success. And another thing to share with the newbie Forex traders is never use or depend on a single indicator nor use excess indicators. Both will confuse you. The less indicator you use the more bad trades you will make and also the more indicators you use the more confuse you will get that which is gonna work. So Forex trading is difficult to master but not impossible to achieve. We have a lot of professional traders around the web who gives us sound understanding about the Forex market and how to trade Forex. So we should read their blogs and test the things we learned from them on Demo accounts. Demo accounts are very crucial for Forex traders. Demo accounts are really good to learn to trade live on the Forex market without using real money. So make use of demo account often in Forex market. So That's it for today dear Forex traders and i will from today update my blog regularly and will try to teach you my knowledge about Forex trading and Forex experiences. Thanks to all for visiting.