Forex Trading Tips

It’s a well known fact that trading in the forex market can be an excellent way to make money. Anxious to participate, I was inspired to start searching for a way to learn all about this market and how to trade it.  But after long hours of crawling thru websites too numerous to mention, reading and getting thoroughly overwhelmed with the likes of technical indicators, moving averages, support and resistance, MACD, stochastics and Fibonacci retracements, along came Forex Autopilot.

Forex Autopilot is an Expert Advisor, better known as an automated trading tool.  It’s ideal for people like me who really want to trade Forex, but lack the knowledge, experience and courage to do so in an intelligent manner.  I like it because it’s a set-and-forget program that was built upon some technical rules, that sits on your trading platform and does your trading for you.

The product was a fairly new offering when I first purchased it, which meant that all the kinks had not been worked out yet.  Forex Autopilot itself was not the problem; it was the less-than-adequate support and the documentation, which was obviously written by a non-English-speaking-techie-type-person. No disrespect intended, but you get the picture.  When I finally got the product installed, I was totally hairless and had no fingernails left on either hand.

Fortunately, I happened upon a user group that was started and run by just about the finest person I’ve ever had occasion to know.  And that person is Charles Floyd.

Charles, an experienced career trader, and extremely knowledgeable about automated trading systems, including the Forex Autopilot, formed the user group to provide support, guidance and education to the Forex Autopilot users.  Between then and now, this group evolved into several groups offering different levels of support, as well as having a members website.

In addition to the user groups, there are chatroom meetings, where members can interface with Charles as well as the program creator, Marcus Leary.  Help is also available for folks having problems with installation or with the EA settings.  And I speak from experience when I tell you that he will personally call a member if necessary to help solve a problem.  Seeing a dire need for education, Charles then formed a mentoring group, providing education about the Forex market itself as well as trading techniques.

One of the first things Charles teaches, and is quite passionate about, is that in order to be a successful trader, it is mandatory that you have a trading plan.  Money management is absolutely crucial.  He has been known, on many occasions, to preach trading-without-a-plan-is-like-jumping-out-of-an-airplane-without-a-parachute!  And you’ll hear this over and again from him, too.  That’s the reason he started offering customized trading plans, tailored to any account size.  Definitely a stellar money management tool.

In my opinion, investing in the Forex Autopilot was one of the smartest things I could have done.  Would I recommend it?  Let me put it this way:  I’m a far cry from an evangelist, but this product could tempt me to rent an airplane and skywrite Forex Autopilot Rocks across the sky.

Posted August 30th, 2008 under Forex Trading, forex trading software. Tags: Charles Floyd, fores, Forex Auto Pilot, forex autopilot, forex market, Forex Trading, Marcus Leary, trading plans, trading strategy, trading techniques. RSS 2.0 feed Leave a response, or trackback.