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How to Lose Your Shirt Quickly in the Forex Market (If You Don’t Know What a Forex Robot Is)

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What Separates a Winner From a Loser?

If you ask this question in the Forex community, you will have a dozen of answers ranging from discipline, confidence, in-depth research, determination, and a good robot!

A Robot?

Yes, a robot ! 90% of successful Forex traders these days use robots to help them make money. The other 10% are old-school investors who shy away from artificial intelligence. They depend on their own intelligence, their own research, their deep understanding of the ups and downs of the market. They are smart people, and I envy them.

For someone of an average intelligence like me, I need all the tools I can get. I am not smart enough to understand all the technical terms the folks in the Forex community talk about. All I know is I want to make some money, and the Forex market is really loaded with cash.

We are not talking about billions of dollars here, but the actual figure is in the trillions. To be exact, 3.4 trillion dollars change hands daily in the Forex market.

With that much money floating around in the Forex market, then why do 95% of people who venture in Forex lose money? The answer is simple. They either don’t have the necessary skills or they don’t have the right tools.

Successful Forex Traders have the following skills:

o In-depth understanding of the Market. They have done their homework months in advance and tested their strategy with demo account before taking action with real money.

o Extreme Discipline. They never get discouraged by temporary setbacks. They never get distracted by other people’s opinions. They stick with their proven strategy.

o Responsibility. They are responsible for their actions. Right or wrong, they are willing to accept the consequences. They never blame something or somebody else for their mistakes.

o They base their decisions on logic not on greed. They know the right time to stop and pocket the profit.

Some traders do succeed with the above requirements alone. They are smart people. They are cream of the cream. Unfortunately, I am not one of them. When I first entered the Forex market, I was intimidated by this bunch of smarties. They seemed to know so much while I knew so little. They made thousands of dollars a day while I lost $627.89 the first week and more the following weeks. I was in despair.

Then one day I bumped into Jim, one of my former students. Jim heard my story and laughed out loud, “I have been in the Forex market for seven years and lost a bundle. Mr.Ramos, I’ll let you in on a little secret. Some of these guys are really smart, but some are not as smart as you think. They use robots to make trading decisions.” I was stunned when I heard about Forex Robot for the first time. I was a history teacher before my retirement, what do I know about robots?

What is Forex Robot

Forex Robot is a piece of software integrated with Forex trading strategy. Once the robot is properly installed on your computer and connected to your Forex broker who supports the same platform, you can perform trading activities from anywhere in the world. Forex robots are automatically run. They will decide for you when to buy or sell. You only need to push a button and tell them, “Show Me the Money!”

If you don’t want to lose your shirt quickly in the Forex market, you need to learn how Forex robots function and how they can help you in your wealth creation.



Source by Ken Ramos

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