ForexAuthoritySite

Welcome to ForexAuthoritySite.com

Our goal is to provide an overview consensus on the reliability and performance of the best forex brokers, MT4 expert advisors and forex trader training courses.  We do this by researching un-biased comments, reports, and actual user feedback so we can put together an accurate consensus from many forex broker reviews, MT4 ea reviews and reviews of fx training online.  This way you can make more informed decisions selecting products that best suit your currency trading needs.

 

Forex Brokers

Easy ForexEssential to currency trading is a quality charting package offered by a fair forex broker.

Choice is fairly abundant when it comes to forex brokers and charting essentials.  There is plenty of packages and platforms from all sorts of brokers that will satisfy your basic trading needs and have a reasonable forex broker rating.  Though many beginner traders find it hard to find a reliable broker straight off the bat due to the increasing amount of ‘bucket shops’ or brokers that increase their profits through stop hunting and other black hat broker practises.

The best fx broker for you does exist thankfully.  You just have to find them.  We came across many a forex broker review.  So for you we have put together a consensus on a handful of the most popular, fair and also unique brokers and what they offer. The current favorite to open forex trading account with is Easy Forex.

There are also many high quality brokers who offer the hugely popular Metatrader platform. The favorite there being Alpari. Alpari Metatrader Download: (MT4)

Expert Advisors MT4

 

Expert advisors (EAs) or automated trading robots used on metatrader 4 (MT4 EAs) that do all the analysis and trading for you.  Are a dime a dozen these days.  When you buy an MT4 EA you’ll find that many of them do not work and will lose you money.  Setting up one of these on your charts without very low risk settings is a dire currency trading strategy.

But this does not mean you cannot find profitable expert advisors for forex and even great advice on penny stock trading, which are both effective at making money.  These types of strategies and automated money making machines do exist.  Some require the market conditions to be in the ideal state the robot was coded for to be successful.  When the market is in an adverse condition the MT4 EA will either not trade, lose most trades or just break even.

Often the best MT4 EAs are coded to trade in many varying market conditions and will trade successfully ‘more’ often than others.  This does not mean these types of robots are always superior, but it is certainly an advantage.

Forex Trader Training

To trade successfully one must understand the fundamentals of the forex market and the steps required to learn currency trading to achieve consistent profits.

In many cases courses and fx training online will only teach you to trade their own one or two methods which, may well be effective. But it is a known fact that to properly learn currency trading and have the best chance of a long and prosperous trading career, one must slowly develop their own individual system customized to their needs, goals, strengths and weaknesses.

Quality forex trader training programs will teach the trader to fit a style to their individualites.  Many courses do satisfy this criterion.  Though its often true that you get what you pay for when it comes to forex trader training. One you should look at is Forex Pro.

 

Forward

Online forex trading, also refered to as online currency trading, is extremely rewarding as a hobby or as a business. How serious you take it, being just as a hobby or as a business will affect whether or not you are successful and start to make some money. I recommend the later approach as you will always do better at something if you write out a plan of action and stick to it. If you treat forex trading as a business then you will do these things.

It is crucial that your forex online efforts are logged and recorded so that you can look back over your trades and improve your approach, just like you would in a business venture. Global forex trading is huge right now. More people than ever before are taking up the challenge of taming the market. Though the reality is the market cannot be tamed. One should aim to interact with the market rather than ‘tame’ it. Interacting at the times when your trading system indicates the highest possible chance to gain pips is the only way to go.

Do not over interact, as so many do, and make trades just because they are bored waiting for the perfect set up to arise. You will lose money this way. Wait for your system, whatever that may be, to tell you when to make a trade. Don’t just dabble in trades for fun or due to bordem as you won’t learn anything about the expectancy of your system this way. Learning your systems expectancy is crucial to online forex trading success.

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