My name is Ben Lewis, CEO and Chief Strategist on the ForexSignal Trading Desk. My 26 years of trading experience has taught me a lot about what works and what doesn't in this exciting market.
I write this from one Forex trader to another. We all know that trading can be very exciting and the potential to make some really great profits is what makes it so attractive, but in many cases, traders lose money. Why?
Mark Douglas, author and trading psycho-analyst explains; "Successful trading is 80% psychological and 20% methodological."
Here are just a few examples of experiences that happen to Forex traders. Perhaps you can relate to them if you have ever.
Not taken a great looking trade simply because of fear of what "could" happen if it doesn't work out.
Exited a seemingly flat trade with a small gain just minutes before it takes off like a rocket. (This one makes you want to cry like a baby.)
Received great information or data about the market, but not available or unable to take the trade. (It has happened to all of us).
Taken a trade because it feels right and ending up with a HUGE loss, only to look back afterwards and say "what was I thinking"?
Of course this and many similar frustrating experiences have happened to all of us, and just the thought of these moments turns the stomach. Would you not agree that it is heartbreaking watching the market move hundreds of pips, and instead of being in the trade, you are left behind.
Forex Trading - Why Such a Challenge?
After so many years of trading Forex, I have learned that there is no single surefire method to trading because there are so many types of market conditions. The Forex markets trend, reverse, break-out and consolidate. For each market condition, there are various rules and trading criteria. No single strategy to date that we know of has held up under all trading conditions.
Technology has Shown Us the Way
Various market conditions require multiple strategies used together, each one appropriate for a particular market situation. Our experiences has shown us that under certain conditions, each strategy has its place. By far, the most profitable trading scenarios we have found is by employing the multiple-strategy approach.
What about those times when there is no movement in the market for days on end and no trade is triggered? I believe that if the strict trade criteria and requirements are not met then WE SIMPLY DON'T TAKE THE TRADE, even if this situation lasts for days.
However, if all the trade criteria is achieved, then, I say, "Go for it and take the trade!" Since trading is 80% psychological, just "going for it and taking the trade" is much easier said than done. Emotion, the biggest trader killer of all, has to be removed from the equation. But how? The solution lies not just with automated trading, but with Supervised Automated Trading.
How does Supervised Automated Trading (SAT) work in Forex?
At ForexSignal, we have developed an automated trading system that is overlooked by our live trading team. The concept is simple. Think of an F-35 jet fighter that utilizes an auto-pilot computer to fly the plane, and then has a human pilot to overlook all the vital instruments and systems.
Likewise, our Forex trades are triggered by preset and tested automated Forex trading strategies. The computer executes and manages the trades when the strict criteria is met, removing all emotion from the equation. Then, our live trading desk oversees the trade to make sure trades are executed correctly and that the systems are running as programmed.
Below are a few SAT examples displaying various methods developed by our trading team, as well as proven and tested strategies designed in cooperation with one of the largest trading desks in the world, and includes a leading trade strategist from Europe.
The above trade strategies are available to be traded for you directly in your account using our SAT method. We do all the work for you and can even host your broker trading account on our server. We invite you to try it out yourself with a special offer.