It can be confusing seeing expert advisor reviews in particular. If you look on any forex forum you are likely to find threads where one person is complaining that a certain robot does not work while somebody else claims to be making a lot of money with it. Who is right?

The answer could be that they are both telling the truth. Unfortunately, there is no forex system that works for everybody. Even with robots, which it seems should work in the same way for everyone, there are variables that  change from person to person and can make the difference between profit and loss.

These include different brokers who will charge different spreads and fees. You may find that somebody who is having a lot of success with a particular robot has access to a broker with low spread or other benefits.

They may be in a particular country or perhaps they have a larger account balance which gives them access to brokers who operate in different ways.

Individual traders will also set up the expert adviser in different ways. Generally, the best advice is to follow the default or the settings that the developers recommend, but some people will vary this for their own reasons, such as having a greater or lower risk tolerance. This will affect the stop position which can have a major effect on the bottom line.

Many robots can be used on more than one currency pair, so that will affect the outcome too. When you are reading expert advisor reviews, check which currency pair or pairs the person is using, and also ask about brokers.

For a manual trading system the differences will be even greater. Now the human element comes into play. People may interpret the system differently. Even if they don’t, they will be online at different times and making their decisions in different ways.

So forex reviews can be useful but you often need to read between the lines or ask more questions in order to understand how the successful traders are getting their results. People are not always willing to reveal details of systems or settings but they may give some information that will help you to decide if you might be able to achieve similar results.

Remember that forex trading is risky and nobody can guarantee anybody else’s results. Keep these points in mind and you have a good chance of finding the value in a forex review.

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Currency Trading For Dummies

What You Get

The book is 360 pages. It is published by John Wiley & Sons in the ‘For Dummies’ series of reference books whose stated aim is to put complex subjects into plain English for beginners. It is clearly written and should help people who want to get started with forex trading but do not have any background knowledge.

As this is a physical book, there are no video tutorials. You are on your own here. This is reflected in the low price.

Level And Coverage

Currency Trading For Dummies is clearly aimed at beginners. With some notable exceptions (see below) this gives a well structured introduction to forex trading.

Special terms and concepts are well introduced and the language is appropriate for people new to currency trading, although some understanding of the financial markets generally is assumed. Some terms are not explained.

The explanations of the workings of the market and the section on currency pairs are excellent. Fundamental analysis is well covered too. The book is weaker on technical analysis and actually setting up trades.

Its strong point is bringing you to an understanding of how the forex market actually works, which many of the more practical, system-based trading books hardly cover at all.

The established forex trader will not find much that is new on the practical level here, although the sections on mindset and attitude are covered well and could be helpful for anybody.

Critical Review

There is quite a lot in this book that is open to criticism. For example, they suggest that you should develop your own trading system and trading plan, which is a worthy goal. However, they do not tell you how to backtest a system, which is a very important step. Testing is vital before you go live with a system.

While you can and should do real time testing on paper or in a demo account, backtesting is much quicker and can rule some possible systems out of court very fast. You cannot realistically test 10 or 20 possible variations of a system live; but you can easily backtest them.

Also, there is not much coverage of certain steps which are essential to the beginner, such as choosing a broker. We have seen it suggested that this is a deliberate omission because the authors are allegedly associated with a market maker which prevents them being objective.

Certainly, if true, it would be a reason for not pointing up any of the possible disadvantages of going with a market maker, which in our view, beginners should be warned about.

They do not give an example of a profitable system that you can use yourself. This is explained on the basis that you should develop your own. While this is undoubtedly the ideal, most beginners will be looking to buy into something that could work for them as a starting point.

Cynics will wonder if the authors really know any profitable trading systems. The book is so much stronger on market information than on practical trading, that it is no surprise to hear that it was authored by people who are on the brokering rather than the trading side of the business.

Summary

This is a useful introduction for beginners interested in forex trading who like to read rather than following video tutorials. It does not set out a trading system to follow, so you will have to look elsewhere for that. It leaves certain things to be desired but on the other hand, it’s not expensive.

Let’s face it, you wouldn’t expect to get the perfect trading system for a few dollars. Overall, good value for the price, but it does not contain all that you need to know.

Currency Trading For Dummies is available from Amazon and other online and high street stores.

I would recommend that you take a look at Forex Confidante and see what you think. Click Here For More.

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Bird Watching In Lion Country 2010 is the updated version of Dirk Du Toit’s groundbreaking forex ebook. The original version was released over 5 years ago and despite the weird name, has become an all time best seller among forex trading ebooks.

Du Toit starts out with the principle that the forex market is a dangerous jungle – lion country, in fact. Wherever we turn we are set upon by gurus and experts, some of whom probably do not even trade successfully themselves, all trying to sell us something to make forex easy. A simple system that a baby could master, a forex robot that you can set up in five minutes, whatever.

Du Toit’s premise is that there is no way anybody can profit from trying to make forex easy, because it just isn’t. If you want to go bird watching in lion country, he says, you must take precautions. You must know what you are looking for but even more important, you must know what to avoid.

Click Here And Check It Out For Yourself

If you are looking for a simple forex trading system based on one indicator with fixed rules that you never break, this is not the ebook for you.

Du Toit’s system takes many different factors into account. He argues that you cannot expect to trade forex profitably for any length of time without taking account of fundamental factors, i.e. market forces.

The original Bird Watching In Lion Country was very popular, with great reviews, and became known as a must-read for all serious traders. It was continuing to sell well and covered aspects of the forex market that are not going to change in just a few years, if ever.

So what’s with the update? Why has Du Toit taken the trouble to release a new version, and what does it cover?

The good news is that all of the essential ground is still covered in the new version. The book is still the best comprehensive guide to forex trading that you are likely to find online.

Bird Watching In Lion Country 2010 gives a little more attention to certain things such as drawdown which were skimmed over too quickly for some people in the first edition.

Drawdown is vital for determining risk and therefore it is a necessary part of any flexible forex system such as the trading method outlined here. There are also examples from real trading situations.

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There is a huge amount of information here. Du Toit’s style is straight talking but explanations can be long. Beginners may find it confusing it places but just go on reading. By the time you reach the end you will almost certainly be fired up and ready to trade, or even ready to read it all over!

One small negative is that after you download the ebook, you will be encouraged to join a mentoring program. Like most mentoring programs this is not cheap and has a very restricted number of places available.

It can be frustrating if you are keen to join this and cannot because there is no space for you. Alternatively, some people do not get along with mentoring and feel that it is not worth the money.

So when you buy the ebook, remember that there is enough there to give you all the information you need for successful trading. You may not need coaching and even if you decide that you do, it’s not so bad if you have to wait a while. Bird Watching In Lion Country stands out by itself.

Taking the time to practice the skills taught in the ebook means that you will be in a better position to make the most of mentoring if and when you decide to go for it.

In short, Bird Watching In Lion Country 2010 is a must-have for any forex trader. Whether or not you already read the previous version, get Bird Watching In Lion Country 2010 today.

Click Here And Check It Out For Yourself

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$_User Feedback

$_The 10 Minute Forex Wealth Builder has been available for some time now and it is still getting great feedback on the forums from traders who are using it on both demo and real money accounts. Trading opportunities arise often enough for traders to be able to make significant profits.

$_What You Get

This is an instant download. You get two different trading systems (the main Breakout system and the additional Swing system) that have both been tried and tested by the developer.

$_You are given all you need to know to operate them, with the written manuals supplemented by video tutorials including live trading videos.

$_How It Works

$_These are manual trading systems with thorough and clear instructions. You will be advised on risk, profit aims, stops and entry signals. Analysis is price driven and not dependent on lagging indicators.

Click Here And Check Out The 10 Minute Forex Wealth Builder For Yourself

$_The aim is to increase your account balance by a healthy 10% to 30% a month. Having two systems gives you more chances to trade.

$_You can operate these systems in the evening if you have a day job. As you might guess from the title, the Breakout system in particular is very quick to implement. It is not a day trading system so you do not have to stare at the computer for hours.

$_The point of the title is that you should only need to put in 10 minutes a day to set up your trades, once you know what you are doing. Of course you also have to give some time to understanding the system.

$_Once you have your entry and exit points decided, you can set them up to be automatically triggered in your brokerage account and walk away from your computer until the next day. As well as saving you a lot of time, this also has the advantage of removing the emotional element from your trading.

$_Leaving your trades to take care of themselves, you will not be tempted to alter the settings from fear or greed. This gives you maximum profit potential from the system.

$_Cautions

$_Money management combined with a profitable system is the key to successful forex trading. In this forex ebook Dean Saunders covers both.

$_Do not ignore the money management side of the system and think that you can take bigger risks than Dean proposes. Doubling your money overnight is a dream that leads to disaster. Have patience and above all, do not trade when the signal is not there.

$_Forex trading carries a high risk and most people who do not succeed with this system can probably put their difficulties down to bad money management.

$_ Do not skip the different steps in the training even if you think you know what you are doing. As with all systems, making small changes here and there can render the system unprofitable.

$_Having said that, the stop losses are sometimes a little too close to the entry point and you might want to vary these a little. Test this out in a demo account before you go live.

$_Level

$_Beginners are covered with two introductory videos that show you how to open a demo account and use the charting software. You can skip these if you are more experienced.

Click Here And Check Out The 10 Minute Forex Wealth Builder For Yourself

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It can be tricky trying to select a forex trading platform, which is why reading a forex trading platforms review is important. It can help you weed out the good ones from the bad ones.

You should always try to find feedback and reviews before spending any money in the forex trading industry, or investing in a system. Where people are parting with money, scammers can be found.

Sometimes, a forex trading platforms review will simply tell you to go with the free one.  Why?  Because with so many good ones around, you might not need to spend money on one.

Of course, some investors really like all of the bells and whistles that come with the expensive platforms.  It can make them feel as though they are getting a lot for their money, even though they might not be using most of the features.

What is even more important than the various features that come with a trading platform is having an understanding of the market. 

In the long run, that is what is going to net you a profit.

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While forex trading platforms review might tell you that a particular platform has a lot of indicators, you need to realize that having a lot of indicators does not necessarily mean that you are going to make a profit.

In fact, some traders simply rely on a candlestick chart in order to help them make informed decisions.

What you might want to look for in a forex trading platforms review is whether or not the platform provides a live forex trading tool, as well as a demo. 

If it lets you do some simulation trading without having to risk any real money, then that is great, too, because it will let you get a good feel for whether or not you want to use the platform.

You should also be on the lookout for a platform that offers dealable prices, the ability to set your own indicators, real time data, charts, and real time financial and world news. All of these things can work in your favor when it comes to making a gain in the market.

Some automated forex brokers offer good incentives and you should consider these when reading a forex trading platforms review. Some of the features that an automated broker might offer include technical analysis tools, news, and real time quotes. You should also be able to monitor your real time margin availability and profit and losses on all of your open positions as well.

Depending on your budget, price might also come to play in your choice of platforms.  Some literally costs hundreds of dollars a month to use.

If you are only netting a few hundred dollars worth of profits then these kinds of platforms are not for you and you might want to consider reading a forex trading platforms review on the free ones.  An investor is the one that makes the decisions in most cases. If you don’t understand the information, then the platform won’t be helpful.

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