What is the Best Forex Trading System For Beginners?
Posted by | Posted in Forex Tips | Posted on 17-06-2009
I receive email every day from people asking me what the best Forex product is for beginners. I know that getting started with Forex can be overwhelming, so if you are new to Forex and not sure where to start, then I hope that this short guide will help.
The first question you need to ask yourself is this – Are you looking for a “Forex Robot” system that is 100% automated or do you want to learn how to trade yourself? There are advantages and disadvantages to both methods and there is no right answer to this..it all depends on your individual taste and personality. There is of course no reason why you can’t do both.
Option1 – Trading With a Forex Robot
If you are interested in Forex Robots, then I really recommend that you check out Forex Megadroid. Fap Turbo is still the most popular Forex Robot out there, but it is definitely not a plug and play solution and many beginners struggle with the setup.
Forex Megadroid on the other hand is very easy to set up, it is $50 cheaper than Fap Turbo and very profitable according to the test results I have seen so far, so as a Forex Robot it makes a very good choice for beginners. If you do decide to purchase one of these products, make sure that you get my Advanced guides to help you get the most out of your purchase.
[Read Full Forex Megadroid Review]
[Read Full Fap Turbo Review]
Option2 – Learning to Trade Yourself
If you are interested in learning how to trade Forex yourself then I would definitely recommend the new LMT Forex Formula that was recently released by Dean Saunders, the creator of the popular 10 Minute Forex Wealth Builder system. The LMT Forex Formula is the perfect introduction to Forex trading for beginners.
About 90% of the system is automated, so it requires very little discretion and practice, but you also do a few easy manual checks to confirm good trading opportunities and you place/manage the trades yourself, so you are in full control..not to mention the fact that this system can be extremely profitable!
[Read Full LMT Forex Formula Review]
Conclusion
In conclusion, no matter which system you choose, the important thing is to always do forward testing in a demo account for at least a month before you even consider using it on a live account. For manual trading systems like the LMT Formula, it is always better to practice on the higher time frames like dDaily before even attempting day trading the lower time frames. If you are new to Forex, please comment below and let me know if this article helped to at all.
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Thanks so much for the time and effort it took to put all of your very informative reviews together. I find them to be extremely insightful for someone like me who knows nothing about Forex but senses a keen opportunity to make substantial returns on my very little extra hard earned cash. I was trying to do some research online for more information on trading robots from someone who didn’t have a vested interest in their opinion when I came across your reviews. They seem to be straight forward and sincere. Again, Thanks. I don’t feel so bewildered about it all!
Hi,
I did find your comments above useful. It has made me think about how I want to start trading (automated or self managed). Also the advice to do some practice trades first is very sound. I don’t have spare cah to lose while I am learning!!! I am doing this to supplement my families income, so having someone offering an unbiased opinion about different providerson the inernet is very elpful.
I’m glad I found your site. Thank you.