You arrived here November 18, 2017 at 02:06 ET - About FOREX | Compounding Profits Calculator
I am Canadian and have been trading the Off Exchange Retail Foreign Currency Market (FOREX) professionally since March 2004 (started trading part-time in 2001 and full-time in 2002). In my opinion, for freedom and income potential nothing else can compare, and now that I have MetaTrader automatic EA trading robots trading for me, I have more free time for other things.
There are several ways to invest in FOREX trading.
1) Learn to trade FOREX yourself, manually - Make no mistake about this. It takes time... many, many months of intense study and experience just to get your bearings, hopefully without losing your shirt, and then years to become consistently successful (or not) at forex trading. In my opinion, be prepared to face difficult challenges along the way and you will learn a great deal of discipline by necessity and you will experience self-transformation to a degree that you would not think possible. You will discover quite unexpected aspects of yourself. Do not underestimate the process and the work you will need to do. Like any profession it takes time and effort to have a chance at success.
There are a great many online and offline books, FOREX training courses, webinars, trading software choices, etc., and it all grows exponentially. I have explored and participated with 100s of them since 2002, and in my opinion... some are not good, some good, and some great. Everyone's interests and needs differ. If you have any questions, please feel free to contact me and I will gladly share my experience.
To start with some basic FOREX education information I recommend IC Markets Forex Education and or FXCM New To Forex and or IBFX Forex Education. Also Google "learn forex" and "forex education"
2) Trade FOREX by using trading robots... ATSs (Automatic Trading Systems). This has become my favourite by far. In fact since 2005 I have developed my own MT4 ForexGridMaster EA Automatic Trading Robot (more on this below). In my opinion, automatic trading software technology understood and used properly can give you very significant advantages...
- Trades 24 hours, 5.5 days a week, far faster and more accurately than even a large team of manual traders, and with perfect discipline. My robots trade for me and I do not even have to be there.
- Trades multiple strategies and currency pairs simultaneously in order to diversify and reduce risk, as well as smooth out equity curve and reduce drawdown periods and amounts.
- ATS robot grid trading is my favourite method. This means continuously placing pending trade orders above and below market price. In my opinion, this is the most powerful trading method there is because it is able to trade and close profitable trades from all price swings in the market, from the smallest to the largest, going up or down. Grid trading can be a high risk method because of the potential for exponential increase in drawdown when huge unexpected price swings occur, which add more and more open trades in the negative. It takes well thought out strategies to counteract this aspect of grid trading. It's not for the timid or inexperienced. It's a high risk, high reward venture. I have developed specific mathmatical calculators and strategies for grid trading.
- Removes emotions of fear, greed, and worry, executing trading systems and strategies the way they are designed to, providing they are not interrupted by technological failure, which is becoming less and less of an issue as trading technology evolves.
- During Technological crisis, orders may not be filled as placed. Trading on a particular electronic trading system may differ from trading on other electronic trading systems, or other market systems. If you undertake transactions on an electronic trading system, you will be exposed to risk associated with the system, including the failure of hardware and software. The result of any system failure may be that your order is either not executed according to your instructions or is not executed at all. That is why it is absolutely critical to make sure you are trading with competent brokers.
I am very well connected to the forex networks and list owners on the Internet (since 2001) and so have been able to keep track of probably all the most notable forex systems and robots coming out on the market. I have personally tested 100s of them and 99% are garbage and the hype is outrageous. Out of the many 100s of commercial ATSs available now, there are a genuine few that I am working and trading with. I am also now have my own MetaTrader 4 Automatic Trading System Robot and strategies.
My programmers and I have recently completed the latest version of ForexGridMaster v5.21 and we also have 3 new versions presently in beta testing as of Aug 11, 2014 (FGM Express, Advanced and Pro). ForexGridMaster is specifically designed to enable traders to create their own unlimited number of strategies and also easily share strategies with others, experienced or in-experienced. You can see some performance results at http://forexgridmaster.com/performance.php.
To illustrate the real potential that Automatic Trading System Robots have for making lucrative profits, here are the results from the 2008 (world) Automatic Trading Championship which was run from October 1st to December 26th, 2008 at http://championship.mql4.com/. Starting capital for all participants was $10,000 and all trading was totally transparant to the public, broker statements uploaded automatically for viewing, lots of trading statistics, and excellent interviews with the system developers.
- Top 50 participants at least doubled that money.
- Top 33 at least tripled it.
- 5th place finished with 13.7 times the start capital.
- 4th place with 13.8 times.
- 3rd place with 15.5 times.
- 2nd place with 15.6 times.
- 1st place finished with a whopping 16.9 times at $169,584 from the $10,000 start over the 3 months.
3) Subscribe to FOREX signal services - There are lots of options out there and you need to be very careful. If you go this route, do your homework well to make sure the service has integrity, and even if you are shown a real successful performance record, be well advised that past performance is not indicative of future results. Be very cautious with your money management. The hype and scammers at work these days for selling FOREX signals, software and other products is extremely sophisticated and well funded. Do not waste your time and money on false promises or anything that is not absolutely clear and transparant with a real performance record at least 6 months old.
4) Have someone trade your money for you - There are lots of options out there for having your funds traded in a managed account environment. Be well warned however, that a great many more things can go wrong then ever you can imagine. I am available for consultation in regards to any undertaking you may be contemplating to do with FOREX trading. Please do not hesitate to ask. I also trade managed accounts ($20,000 minimum) where I trade your money (by Limited Power of Attorney) in your own broker account.
You can contact me at I do not sell, rent or share your email address.
ALL TRADING INVOLVES RISK OF LOSS.
Trading in the off exchange retail foreign currency market is one of the riskiest forms of investment available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose. Nothing in this presentation is a recommendation to buy or sell currencies and James King or FXTradeMaster.com is not liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from the use of James King or FXTradeMaster.com's products such as, but not limited to, trading robots, tools, etc. or reliance on such information.