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Monday, 23 February 2009

  • Forex 'Robots' Aren't Really Wise

    We are doomed! The robots are coming for us! OK, you can clean the milk off of your keyboard, Forex robots are harmless. At least they can do no physical harm. But how about financial harm? The idea of a Forex robot is a piece of software that trades automatically and make you profit. Simple and attractive especially for those who don't know how to trade currency. But if they make successful trades, aren't they affecting the markets?

    Not so fast. First, the robots are far from perfect. None of them can trade at 100% success rate. The popular robots claim their success rate to be over 90%, but more often than not those numbers are exaggerated. Not to say high rates are impossible, but to achieve such a high rate, the robot must be regularly updated, and that hurts automation which is the point in first place? The popular robots work at 50-60% in practice. But they are making profit, otherwise no-one would buy them, right?

    To learn how to trade currency takes years of practice. Professional traders usually have decades of experience. But someone who is just starting and wants to learn, will find a robot to be a good option. At this point the attack of forex robots can get quite ugly. You know the rule, if it sounds too good to be true, it probably is. And it stands true in this case. Without proper knowledge and looking after your robot, you have the odds against you - it ends up to be like playing lottery. If you know a thing or two about trading currency, however, a robot can be useful.

    The apocalypse is not here yet, no. Robot is a tool, and as any tool, you need to know how to use it, or you will get hurt. So if you fancy a robot, read the manual that comes with it!

Thursday, 19 February 2009

  • Beginner Stock Market Investing

    Understand that when you start getting stock market investing advice, you may not really know where to start. Don't get overwhelmed by all the things you need to learn,try taking things step by step. As soon as you get your feet wet with stock market investing,things will get easier over time.

    The number one thing you should learn about online stock market investing is opinions are like belly buttons: everyone has one. The majority of people won't admit that they need help,but you can learn faster than them by doing so. Try to improve as quickly as possible, just don't over do it. Then you will be the investing mentor, and can use your own judgment instead of luck.

    Something else to remember about online stock market investing is that your own experience will be worth more than another's opinion. Investing mixed with emotion is common but, this might cause the portfolio to end up worse for wear. If you are feeling negative in anyway, step outside and take a few deep breaths.

    If you absolutely have to keep investing when upset, take into account the advice of a proven strong investor. If you do not know of any strong professional investors, look up Jim Cramer. The advice can end up being priceless, and you might just learn a few things while you're at it. Understanding when to seek guidance can be very helpful.

    If you really want to become a successful investor, then you need to be able to invest wisely and safely. You should be able to take a loss and learn from it, and not get upset and give up. You will have to have a lot of dedication to be a successful investor. If you want to be successful you have to be patient and learn to roll with the punches. Learning from mistakes is the only way to move beyond relying on other's input and advice. Become an investing powerhouse and do what the professionals do: learn from your mistakes.

  • Hi everyone! I'm just getting started on Xanga... Drop me a comment if you've got some ideas on what to do first - or just to say, "Hi!"

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