Learning to Trade Forex with a Real Time Forex ChartWhen learning to trade forex, you also should learn how to read forex charts. The ability to read charts isn’t necessary in order to forex auto trade, but it is highly recommended that you do learn to read charts and identify trading signals as this will result in better trades.
“Pattern recognition! I can do that!” I thought, so I set about learning more about Forex. I read a book first, to get a handle on what the Forex market was and how other people find success in such a volatile arena with price movements all the time. The book gave me a good grounding in what the Forex market involved and how not to lose all my money when trading! I then took a 3-day course which gave me all the tools I needed to trade a demo account and a live account. The most important tool when Forex trading is a good chart, and you want to be sure that the data on the chart is timely and accurate. Forex Hoster specializes in hosting charts so that you aren’t relying on your own, often slow, internet connection. The most popular forex trading chart of the moment is Metatrader4. It is freely available as a free download. Now, while I do recommend that you learn to read forex charts for yourself, I can understand that not everyone has the time to do just that. So that’s why I will tell you about Ivybot, which uses the Metatrader platform, and is completely automated. Generally, the Ivybot makes a few trades a week, trading off a few currency pairs. I actually agree with this strategy and recommend that you do the same thing, no matter what trading system you are using. Ivybot does have a scalper setting, but the creators of the software actually do not recommend you use this setting. So if you’re after scalping software, do not buy the Ivybot. The makers say that you get the best results picking the cream of the trades, and there may only be a few of these trades each week. The Ivybot team say, “We are constantly optimizing Ivybot for the best settings for the most current market condition.” “We take these results, test them in the real market, then update the code in the most recent versions.” There are many reviews about Ivybot floating about the internet – some positive and some negative. Many people have blindly put thousands of dollars in the hands of a system that they have never tried and tested before. I appeal to you – PLEASE always dabble in demo mode to test how this robot works for you before laying out any real cash on the table. Also remember, what works for one person may not work for another when learning to trade forex. The bottom line is this – the only way you are going to know what will work for you is by trying out different systems and methods.
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