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I am new to Forex and have brought Forex-Tracer.
I would love to talk with others using forex-Tracer or Forex-Autopilot.
Forex-Tracer made me $166 in five days with a $500 account however the next day it lost $500 dollars. How do you guys survive (or avoid)such huge losses?
And by the way they didn't give me the cherry-picker software as promised and they didn't give me the $100 as promised either. Have written to them about it and they don't answer.
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My friend I feel so sorry for you. But there is no way you can even contemplate starting to trade currency with become educated on the Forex market first. Most beginning traders don’t realize that 95% of them will never become winners.
Many of the brokerage accounts you sign up with offer demo accounts, with the demo accounts you will receive a FREE basic training package. This is a good place to start, because it does not cost you anything. Just fill out the application for the demo account and you receive the training free.
Next, after you absorb all of that material and you still want to go forward. There is a good chance after reading all the free stuff you can get from the brokerage firms; you will decide that this is just too risky! But, if you fell you want to keep going the next step is to sign up for a comprehensive training program. These are not free, but now you’re starting to get a college education as opposed to a high school education offered by the majority of the brokerage firms.
After that the next step is to get a program like the Tracer, which is a really good system. Before even thinking about trading with real money, you really need to use the “dummy” account for a while. I usually recommend you trade and MAKE MONEY for at least a month before starting to trade with real money. During this time you will start to understand how the software works. If you had did that then you would of realized you could of put a “Stop Loss” in the program which would of prevented the huge loss you took.
There is one other way to go, and that is to find a professional trader as a mentor. There are a few programs out there now that allow you to trade in “REAL TIME” with a long time profitable trader executing the exact same trades as he does at the exact same time.
Which every way you decide to go I wish you the best of luck on the trading floor. And never forget the first step is education and training.