Every trader wants to know the answer to this, but unfortunately the question got asked wrong. A better wording would heave been, how to survive in Forex trading. Why? The Forex market is milking you, almost certainly, and the reason is noise plus slippage. If you are banking on chart patterns, you are lost, with one exception.
Of course, I am talking about the best chart pattern here, which is the trend. The simpler the pattern is, the less likely it is caused by random. Random is the enemy of all traders and especially of the Forex trader. Forex offers almost no real chart patterns. It may look to you as if it were otherwise, but it isn’t. Believe me.
So, the only chance to win in Forex is the trend and breaking news. Waiting for news is boring and that leaves us with waiting for the trend, which is almost equally boring. But there is hope. You could employ your Forex robot for the boring task and let it bring in money for you automatically.
Forex robot – does such a beast work? Yes, it does. It works, all day and all night long. Sadly without making any money for you. At least that is the demoralizing truth for almost all Forex robots.
How to win in Forex then? There is a small chance that you succeed. You would have to trade the trend manually. Trend trading is a tough job. It looks easy. Just take a chart, spot a trend here or there and define in hindsight entry and exit point. Voila, you have a paper gain! But alas, it was just a hindsight trade. In other words, a non-existent trade, no trade at all. If you had done it in reality, it would not have worked.
Trend trading Forex is a job for specialists. Right, you have to learn it. At first, a working trading system is necessary. And then you will have to apply it and… learn it. I mean what I say here. This thing is difficult and only a few adepts succeed with trading Forex trends. After having assimilated the trend system, practicing with expert help is the right way to go.
Final words, here is our trading room recommendation that offers also a working system for Forex and futures. Try it! You can’t do anything better with regard to Forex than trend trading and practicing it with the help of a pro.