1. Forex Signals
If
you are new to forex trading and don't have much time to learn how to
trade forex than you can subscribe to a forex signal service. There are
many forex signal services now. You get forex signals via emails as well
as sms. With these forex signals, you don't have to watch the market
24/5. Just enter buy or sell as recommended by the service. The trick
lies in finding a good forex signal service. How to do that? First test
the forex signals on your demo account. Only by testing a signal service
on your demo account, you will be able to know how well the signals
are.
Now, a new development has started. Some of the professional
forex traders have started signal service in which they trade their own
accounts with their own money. You get real live trading signals as
these pro forex traders make their own trading decisions on their live
account.
If that pro forex trader wins $1,000, you also win $1,000
and if that pro trader loses $1,000, you also lose it. You can copy
their exact live trades with a Trade Copier that connects two or more
MT4 accounts. Since, the pro trader is trading with his own real money,
you don't have to worry much about the quality of the signals.
Naturally, the pro forex trader is going to be very careful in trading
his real money.
Secondly, you don't have to open your MT4 account
all the time to enter the buy or sell signals, the Trade Copier will
automatically do that for you. Of course, you need to find a good pro
trader who is making a lot of money and is ready to share his live
trading account with you through a Trade Copier.
2. Forex Robot
Forex
Robot also make your trading automatic. In recent years, some good
forex robots have been introduced in the market. There are traders who
have made a fortune with forex robot trading. But the problem is that
most of them were the developers of those robots.
You see, the
basic problem with these robots is that they have to be continuously
optimized with the changing market conditions. Something, most new
traders are unable to do successfully as most of them don't know much
about forex trading.
In addition to that in order to be successful
with a forex robot, you need to know a little bit of programming. Most
new traders find it difficult. Forex Robots do work but for that you
need to learn both forex trading as well as MQL4 programming. Something
most new traders find difficult.
Most of the time, the vendors
will try to portray as if a forex robot is the most easiest forex
trading solution. You only install it on your MT4 platform and bam, it
will start making money for you. Nothing is further from the truth.
Market conditions keep on changing. A robot that maybe working may start
losing money as soon as the market conditions change.
3. Managed Forex Accounts
Forex
Managed Account are run by professional forex trader who will trade
your money on your behave charging a fee something like 5-20%. You have
the right to withdraw your money any time you want. In fact, you keep
total control of your money.Managed forex accounts has been the
preferred forex trading method for those who did not have the time to
trade forex.
4. Manual Forex Trading
Yes,
you can trade forex yourself. But for that you need to learn forex
trading. This might take sometime. You will also need to practice a lot
in order to improve your trading skills. However, learning forex trading
is worth the effort. It is indeed the longterm solution and should be
your ultimate goal.
In the end, if you are new to forex trading, I
would recommend the Forex Signals through a Trade Copier. This is the
best solution. The professional forex trader is not charging any fee
from you. He is trading his own money. So, he is taking as much risk as
you will by copying his live trades using a Trade Copier. You might have
to pay for the forex signals though. Good Luck!
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