Intro #4 - Brokers Reviewed

>> Updated: 9 Sept 2009. I have revised my list of brokers to only list my top 3 recommended brokers. These are the only Brokers I use and after testing several brokers over a period of two months, these ones were by far the best. I'm getting great results with all three of them and you can be comfortable opening an account with any of them. Please first make sure that you can eventually open a live account with them from the Country you live in, before opening a Demo account!

There are many Brokers out there and I could not possibly review even a fraction of them, but there are a hand-full of Brokers that come highly recommended by many professional traders. We will be looking at some of the best ones that meet the following criteria. They should:

• Be newbie-friendly
• Offer great support and good training material to guide you, the beginning Forex trader, in the right direction to become successful.
• Welcome automated EA (Expert Advisor) trading and don’t cheat you on their side when it comes to live trading.
• Have low spreads to decrease your risk and broker fee per transaction, as well as improve your EA trading frequency.
• Allow you to start with small start-up capital ($100 to $500). Some brokers require you to start with a minimum of $2,000 or even $10,000!
• Allow mini lots (and ideally micro-lots) for starting with small trades and working your way up as you become more comfortable with the trading ability of your EA.
• Be reputable broker firms with a good track record and you can be rest assured that your investment is safe.
• Offer accurate and fast execution, with the added bonus of lower costs. Ideally you want to go with a Broker that offers Straight-Through-Processing (STP) for fast and accurate trading as well as low spreads. This is also important so that there are very little differences between trading on Demo or Live accounts. (You’ll need to go live at some stage and if the differences are minimal, great stuff!)
• Ideally not charge you a fee for opening a live account or any monthly fees for having a live account and also not charge you any commission on trades.

How do these Brokers make their money?

Let’s look at an example: If you buy one US Dollar from a Foreign Exchange Bank using Euros you will, let’s say, pay 0.70 Euros for that dollar. If you immediately (without the currency values changing), sell the Dollar back, you only get 0.69 Euros back. This difference between the “bid” and “ask” price is called the spread and that’s also how Brokers make their money. When you make a trade, the Broker will charge you the difference between the bid/ask price. It's a very small chunk of every transaction you (or your EA) make and it's almost always a much smaller amount than taking a % commission. We're talking a few cents or less here per transaction... I will go as far as to say that it’s negligible and you don’t even need to worry about this when trading.

So let's continue with the review:

1. Gallant FX

Gallant FX is a Foreign Exchange liquidity provider that offers a wide range of trading technologies and services. Their position as a liquidity provider allows you to take full advantage of transparent real-time pricing. This has enabled Gallant FX to create a unique Forex Trading environment that offers individual traders the same STP (Straight Through Processing) liquidity, execution and trading functionality demanded by interbank traders. There is a strong recommendation from many professional auto-traders that this is the preferred Broker for FapTurbo as well as other EAs. GallantFX is my first recommendation and I'm currently using them with FapTurbo. You can see my live stats (on a Demo account off course) at the top of my Blog sidebar. Funny enough when you activate your FapTurbo on a demo account in the member's section, you'll notice that in the example they use an account number that starts with 208813x. That is the account number created when opening a Demo account with GallantFX...
Benefits:

• Spreads from as low as 0.3 pips.
• Micro lots (starting from 0.01), mini and standard lots sizes.
• Hedging capability.
• Scalping capability.
• Minimum opening deposit on a live account: $500.
• FREE VPS hosting on live accounts. (Run your MetaTrader platform live on a Virtual Private Server 24/7)
• Straight Through Processing.
  

2. Alpari (UK)

Alpari (UK) provides institutional-level online FOREX trading services and technologies. They offer comprehensive market analysis and educational tools, as well as delivering world-class customer service. Alpari(UK) should not be confused with Alpari(USA). I personally would not recommend Alpari(USA) for several reasons. Alpari(UK) is quite popular amongst professional auto-traders.
Benefits:

• Spreads from as low as 1.8 pips.
• Micro lots (starting from 0.01), mini and standard lots sizes.
• Hedging capability.
• Scalping capability.
• Regulated by the FSA.
• Micro Account: Allow users to trade via MetaTrader4, with a minimum opening deposit of $200 on live accounts.
• Classic Account: Allow users to trade via MetaTrader 4 and/or Systematic (Alparis' automated trading solution), with a minimum opening deposit of $500 on live accounts
• 10% credit bonus on all new live accounts. (Between now and 30th October, the net deposits in your live account could get you up to 20% extra funds to trade with.)
• An automated risk management system that is designed to reduce the risk of your trading account being depleted to zero or turning negative.

3. FastBrokersFX

FastBrokersFXs' trading platforms are built on a solid, fast and efficient back-office infrastructure designed for one specific purpose – to let you trade. The pool of liquidity available gives you the freedom you need. While market conditions allow it, scalping, news or swing traders are welcome at FastBrokersFX. Their policy is simple: Trade the way you want! They come highly recommended by many well respected professional traders.

Benefits:

• Spreads from as low as 2 pips.
• Micro lots (starting from 0.01), mini and standard lots sizes.
• Hedging capability.
• They welcome scalping traders.
• Minimum opening deposit on a live account: $500.
• FREE VPS hosting on live accounts. (Run your MetaTrader platform live on a Virtual Private Server 24/7)
• ECN Broker
• Regulated by the NFA (National Futures Association) & CFTC (Commodity Futures Trading Commission).
• 24/5 Customer support

How Electronic Communication Networks or ECNs Work

ECNs pass on prices from multiple market participants, such as banks and market makers, as well as other traders connected to the ECN, and display the best bid/ask quotes on their trading platforms based on these prices. Unlike fixed spreads, which are offered by some market makers, spreads of currency pairs vary on ECNs depending on the pair's trading activities. During very active trading periods, you can sometimes get no ECN spread at all, particularly in very liquid currency pairs such as the majors (EUR/USD, USD/JPY, GBP/USD and USD/CHF) and some currency crosses. Brokers that use Straight Through Processing (STP) offer somewhat similar benefits.

About The Financial Services Authority (FSA):

The FSA is an independent body that regulates the financial services industry in the United Kingdom. The FSA has been the single regulator for financial services in the UK since December 2001, when it was given statutory powers by the Financial Services and Markets Act 2000 (FSMA 2000).

All companies regulated by the FSA are obliged to meet strict financial standards including capital adequacy requirements. Companies are required to submit financial reports to the regulator on a regular basis. The FSA has the right to fine companies and/or terminate a company's regulatory status for violations.

The regulations require that the Broker:

• Maintains sufficient liquid capital in excess of the amount required to cover all client deposits, potential fluctuations in the company's currency positions and outstanding expenses.
• Undergoes a detailed annual audit performed by an independent financial auditor.
• Are under constant Supervision by the Regulator
• Segregation of funds protection: All capital not being used for margin purposes (doing trades) should be fully segregated into a special client account kept separate from the Broker company funds. In the unlikely event of the Broker's default or insolvency you still have your funds available to you in your non-broker account.

Brokers in different Countries are regulated by different financial authorities (some are un-regulated - stay away from these!) When choosing a Broker it is best to choose one that is regulated by a financial services authority. Although these brokers often operate under more limited conditions, you can at least know that they are properly audited and regulated. This will give you peace of mind that your funds are safe and that the Broker does not "cheat" you.

Risk Warning:

Before deciding to participate in Forex trading, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Please be aware of the FOREX risk. Only invest money that you can spare and that will not change your lifestyle if you lose all your money. There are no guarantees in this industry, but with lots of research and help from you we can find trustworthy systems that will give us peace of mind and a steady stream of income!

Always start with Demo Accounts. You can open as many as you like for free and test them for as long as you like until you feel comfortable going live with real cash. To manage exposure, employ risk-reducing strategies such as 'stop-loss' and 'take-profit'. These strategies are built into most EAs, especially the ones I will be reviewing on this Blog. You can manually set these variables to lower amounts until you are comfortable with the performance of your EA. A good EA should earn high profits (more than 70% profitable trades).

If you are a beginning trader, I recommend not changing the default values that are already set when you install your EA, unless the developers notify you of new settings, or if you are getting advice from a trusted source.

There is Forex risk associated with utilizing an Internet-based trading system, including the failure of hardware, software, and Internet connection. If you're using MetaTrader, I suggest you have a dedicated trading desk at home or work and that you PC is running 24/7 with a live internet connection. Remember your EA has to constantly analyse market movements to make successful trades. If you don't have this sort of set-up available I suggest you look into having a Forex enabled Virtual Private Server (VPS) service that will run MetaTrader on their server 24/7 so you don't need to worry about down-time. We will have a look at this in the next article.

Conclusion:

At some stage, after having tested your system and being happy with it's performance, you may want to go live. Be sure you do this with the same Broker that you tested on. Results can vary significantly between Brokers! Before opening a demo account with your Broker of choice, please make sure that you can eventually open a live account with them from the Country you live in. Do this before you start, you don’t need the disappointment of finding out you can’t, after two months of successful trades on your demo account!

Some brokers require a very high minimum deposit for you to be able to open a live account. Although I rather stay away from these, you might have your own reasons for choosing such a Broker. If this is the case and you are getting the best results with your EA using one of these Brokers, you can sometimes get around this by depositing the minimum amount and then withdrawing some of it afterwards. I'm not sure if all Brokers allow this but I know some do. Do some research to find out if you can get away with it, although I would still recommend using one of the Brokers listed above. Start small and work you way up, baby steps!

I have posted the links to these Brokers' Websites on my menu-bar at the top of the Blog.

I encourage you to post comments, with your help we can find the best systems out there. If you liked this article, Digg, Buzz or Tweet it!

Continue To Step 5: Improving Your Success ->

Intro #3 - Auto Trading Systems

In Step #2 of this Introductory Guide I introduced you to Expert Advisors (EAs, Robots). This automated form of Forex trading is my primary focus on this Blog.

Of all the systems listed under the "Auto Trading Systems" section of the blog menu bar, I have only had the opportunity to test FapTurbo, Forex MegaDroid, IvyBot & Alpari Systematic so far. Please help me by giving your feedback (and ideally links to your live trading results) of systems that you have had good experience with.

The most important thing I have learned so far is that you need to be very patient with your EA. Make it your quest to discover the best settings and set them early-on while testing it in your 60-day trial-period. Patience is truly required with this game. Consider this a long-term investment; there is no quick (and legal) trustworthy money-making scheme! If your EA has not performed well in 3 weeks, check your settings or change your broker. Again: Only open demo accounts while testing!

Please don't be discouraged if you need to change Brokers! Changing brokers sounded like such a mission for me when I started, but it's as easy as 123 (while trading demo accounts off course)... Choose a broker and download and install Metatrader, open a new demo account & set-up your EA. It will take at most 20 mins of your time. Changing brokers after you went live is a whole different story, so do it while you're demoing! Once you have found the right combination of EA, Settings & Broker, leave it running until you have at least 50 trades to get a good indication of your profit/loss factor. When you're comfortable with it, take the plunge and go live! If your EA has performed badly no matter what you've tried and you have spent the 60 days testing it, consider getting a refund. You can always re-purchase it later if the system has been improved, or you can purchase another one, there are a few good ones so don't be too scared to ask for a refund if you're convinced your system does not perform well.

A good idea might be to run your EA on different Broker accounts at the same time. This way you can see how your EA performs differently on each account (and believe me they do!). Once you go live with real money have your EA run on a live & demo account with the same broker & settings side-by-side on two MetaTrader platforms. This way you can see the difference between performance on live & demo accounts. You can also test new settings on the demo account while the live account is running the "safe & proven" settings. Once, after some time, you achieve better results with your "experimental" demo setup, move your settings over to the live account, and repeat the process.

Another piece of good advice is to join as many communities/forums as you can. Do your research and find the best communities that will give you all the information you need to become a successful auto-trader. There are plenty of free forums & newsletters you can join for good advice.

If all this information is a little overwhelming, don't worry too much! Read this guide a few times until you are comfortable with the various aspects of auto-trading. You have all the time in the world, Forex isn't going anywhere so be patient and take it one step at a time... When you purchase an EA, you also receive very informative set-up guides in the form of PDF documents and training videos that will take you through the process step-by-step, from downloading & installing MetaTrader to opening a demo account and setting up and configuring your EA.

Note #1: Currently the top two systems I would recommend is FapTurbo & Forex MegaDroid as I'm experiencing very good results with them. If you find that these systems just don't perform well for you, consider getting expert advice in the form of membership websites that you can join to get tips from some of the top auto-traders. You can find more info on this under the "Articles" section on the blog menu bar where I write about specific services available for each EA.

Note #2: Don't confuse the term Expert Advisor, with "expert advice". Expert Advisor (EA, Forex Robot) is the name given to systems/add-ons to the MetaTrader platform that help you trade or trade automatically for you. You can access your EA under the "Expert Advisors" section on the "Navigator" pane in MetaTrader. When I refer to EA in my articles, I refer to your EA system. Expert advice, on the other hand, is basically joining a trusted website/community/guide that gives you good trustworthy advice on how to set-up your Expert Advisor for best performance ;)

I encourage you to post comments, with your help we can find the best systems out there. If you liked this article, Digg, Buzz or Tweet it!

Continue To Step 4: Brokers Reviewed ->

Alpari Systematic

I opened a new Demo Systematic Account with Alpari (UK). This system runs online on Alparis' Servers and you can access it through a web interface in your browser. No need to purchase a bot or install software on your PC, and no need to have a VPS (Virtual Private Server).

Once you have logged into your account you can add some automated strategies to your portfolio. You can choose from 20 predefined systems and combining each system with all the available currency pairs you have 1015 strategies to choose from. Pretty extensive... All of these strategies come free with your account. While reviewing the strategies (before adding them to your account), you can sort the systems according to profits, success rate, etc. so they make it really easy for you to find the best performing strategies. It is a hands-on exercise though and I would recommend that after you add one or more strategies to your account, check it daily, even if it is an automated solution. You can never be too careful and in doing so you can maximise profits over the long run (which is the most important factor in Forex trading)!

After initially testing this system on two strategies, and getting amazing results, my account totally got wiped out! Guess I was a little greedy... I was, very abruptly brought back to the harsh reality of forex trading. There is still a huge potential with this system and I will figure it out! I'm opening a new account and will start afresh, this time frequently changing my strategies while keeping a watchful eye on my account. I'm sure I can crack this code. Alpari (being a very popular and reputable broker with many successful auto-traders) will not offer these strategies if they didn't work and I'll persist until I am successful. I consider this as one of the strong contenders for the top 5 of the strategies I'll eventually use when trading live, real money, accounts.

Unfortunately I haven't figured out how to link to the live account for you to look at, but I will post screenshots that I will grab every time it closes trades. As stated before I will not tamper with ANY results posted on my Blog so you can be assured that this is truly accurate results. Since the Demo account is free to open, try it for yourself and give feedback so that we can compare!

I have removed my previous screenshot as there's not much to see after it being wiped out :)) I will however soon post a new screenshot once I'm getting better results... The idea behind this Blog is after all to provide you with the best performing systems/strategies/settings, so watch the space!

I encourage you to post comments, with your help we can find the best systems out there. If you liked this article, Digg, Buzz or Tweet it!

IvyBot

>> Updated: 5 Sept 2009

I purchased IvyBot just after it was released (29 July 2009) and after some disappointment with a few Brokers, I now have it up on a $500 Alpari Demo account, running on a VPS (Virtual Private Server) so that it is live 24/5.

Initially I was somewhat convinced that this truly is a revolutionary EA (Expert Advisor), maybe slightly influenced by their sales page, and with a 60 day money back guarantee, I decided to go for it! IvyBot was very easy to setup and it looks like it's a very extensive trading system.

Get IvyBot Now

The system was developed by a group of Ivy League graduates (very clever people :)) You get four seperate bots that trade on four different currency pairs. Each reacting in it's own way to the differences in behaviour between these currency pairs. Makes sense if you ask me...

IvyBot can be traded on small account sizes but I'll advise you to start with very low risk settings just to become comfortable with it's trading style. I initially set mine on higher risk and aggressive settings and had a bit of a scary experience with some large drawdowns. After restarting it on my new Alpari account we'll see how it performs. This system looks to have large potential and the developers are actively releasing new versions as they improve the system.

They are only selling a limited amount of copies, so get in while you can! Remember that you have 60 days to test it out...

Get IvyBot Now

I encourage you to post comments, with your help we can find the best systems out there. If you liked this article, Digg, Buzz or Tweet it!

Intro #2 - My Road To Discovery

>> Updated: 30 Aug 2009

I'm pretty new at the Forex game... I read an article a while back about the Foreign Exchange (FX or Forex) and what an incredibly huge market it is. In fact, it's one of the largest and most liquid financial markets in the world. According to the Bank for International Settlements, the average DAILY turnover in global foreign exchange markets is estimated at $3.98 trillion!

In the past, Forex trading was only available to large corporations and financial institutions. Since it became available to the public, the market has grown exponentially every year and with new tools, like the free MetaTrader platform, people like you and I can easily trade from the comfort of home. Forex trading is fast becoming a very popular way of generating income!

I saw a huge potential in the Forex market. It looked to be a much safer (and easier, as I will show you a little later on!) playground than stocks, futures, commodities, etc. It will never run out of money even if every single person in the world is trading. In fact the more people trade the larger the market becomes. I knew that with the right knowledge and tools, I had the potential to make huge profits off this largely untapped resource. So I started researching but was soon overwhelmed by all the terminology and vast amount of information out there. I read about all the different strategies people employed and promises of great success, especially if you "invested" large amounts of money in advertised products & guides.

I didn't know where to start, however I believed that most advertisers will just try to scare you with all the terminology and complexity, so you end up buying their “insider’s secrets” into the wide world of Forex. Not a lot of people will just give away their trade secrets for free. They won’t give easy to use guides that explain EXACTLY how this game works, how and when to trade in layman's terms, for free. But being the positive and tenacious person that I am, I decided to give it a shot anyway without buying guides or systems that Forex gurus “guarantee” will make you punt loads of cash…

So I went to a broker's website (I chose Alpari (UK), but you can use any Broker of your choice to start with). I downloaded their MetaTrader 4 (MT) platform. MetaTrader is free software you can use to trade live on Forex. Almost all Brokers offer it as a free download. It's very easy to use and comes with a bunch of free indicators and chart templates, etc. that can make trading easier for you. I installed it, opened a demo account (when you open it for the first time it automatically opens a pop-up window where you can instantly open a demo account) and a moment later I was staring at live currency feed graphs, ready to start trading... Phew, I was nervous!

I tried to read some market news to see what the markets were doing, but I didn’t really understand how the news affected the markets. I discovered however that the market somewhat consistently moved between these high & low peaks. It's a game of patience and if you wait it out, you eventually get the right peaks where you can open a trade and end up with a good profit. Just monitor the graph and you'll see what I mean.

I waited for the peaks and when it was very high (at the top) I opened a trade order to "sell" or "go short(in traders' lingo)", hoping that it will go down so that I can make a decent profit. When it peaked very low (bottom), I closed my sell position and at the same time opened a "buy" or "go long" position, then closed the buy when it reached a high peak and repeated the process.

Off course it’s not always that simple and it didn’t always go so well when the markets moved the opposite way of what you anticipated, but I just played around and started getting better... Manual trading is unfortunately something I cannot teach you within the confines of this blog and nothing beats some "screen" time where you stare at the graph for lengthy periods to learn the "rhythm of the graph" and do trade after trade manually. Remember you're playing with false cash so go crazy with it. The more mistakes you make the more you'll learn and when you wipe out your account, just open a new one and you're good to go at it again! You can open an unlimited amount of free demo accounts. If you struggle to get started, use the MetaTraders' help system. It's very easy to follow and will get you going in no time. You can access it by clicking on "Help" on the top menu bar and then click on "Help Topics".. So after a week of trading, to my pleasant surprise, I had averaged a daily profit of $600! I was very excited. After a few weeks I looked at my stats and calculated that 90% of my trades ended in profit, but it took a lot of time to constantly monitor the movements...

With my day job and working long hours as well as having other responsibilities, I just didn't have the time to constantly monitor the markets. I also found that it became a little bit addictive, especially when you’re making good profits and I got more and more emotionally involved which caused me to make mistakes by opening trades at the wrong time. You can get greedy when you see so much money rolling in, even if it's fake money!

I needed an automated solution that removes the "human" element and that takes the guess work out of Forex trading, so I started searching for brokers that offer automated trading solutions.

But then I stumbled upon something that I've never heard about before: Expert Advisors (EAs)! You get these Forex Robots (Bots) that monitor the market for you 24/5 (Brokers are closed over weekends) and once it's set-up and configured on your MetaTrader platform, all you need to do is have MT open with a live internet connection and the EA will open an close trades automatically following a pre-programmed set of rules. It will wait until the market is in a favourable position that matches these pre-defined rules, then open and close trades automatically for you. You don't have to do a thing! Except for initial setup off course. Most of the good EAs are also configured to close a trade when it reaches a certain (configurable) amount of profit OR loss, called “take profit” & “stop loss” so that you can make a safe profit, but also not loose too much money in one trade when the market moves the wrong way.

So here I was at a crossroad: Do I continue trading manually or do I actually invest in one or more of these EAs? Or do both? I knew I had to "go live" with my trading at some point. I also realized that I won't be getting into this game without an initial investment. I thought a little reality check would be a good idea at this stage...

So I asked myself:

• What if these EAs really worked? What if they really made good, solid returns? -> Wouldn't that be nice... :)
• How much money did I have available to invest in one or more EAs? -> I had $100 for one system to start off with!
• How much money did I have available to invest in memberships to website that give me expert advice for my EA, so that I can configure it correctly without going through months of painstaking testing, monitoring, etc.? -> I had $100 extra for joining a member's site
• How much money did I have available to eventually invest in a live Broker account? -> $500!, you can start lower if you want, but I won't advise going lower than $100
• How much time did I have available to trade manually and/or set-up & monitor the EAs? -> Tough question...
• Will it be a good idea to have one, or more than one, systems/strategies going at the same time? The term "Don't have all your eggs in one basket" comes to mind...

The EAs were a little expensive (some, totally un-affordable!) and I needed to be careful here without leaving my wallet empty! I didn't know if I could trust what the EA developers were promising on their sales pages. So I set off to make it my mission to find a few affordable automated systems that will generate decent, profitable income consistently. Systems that could be trusted and didn't bite large chunks out of your account balance.

My initial goal (and you can easily use this as a possible solution if you don't have a lot of money to start off with, maybe $300 to $800) was to find a system that will make enough money to pay for itself($100) & the expert advice membership sites($100), then pay for the ($100-$500) money invested into the live Broker account. Then I could take that profit and purchase a second EA, join a good, trusted community for expert advice and open another live Broker account. Repeat this process and in a year or two I could have around three systems running, generating solid income while I go on with my life (or get more systems!). This is a game of patience (as any good investment), but you'll see, it will pay off in the end and will be much more than worth the wait!

Update: Off course if you have loads of cash available you can save a lot of time here and get a few EA's, join the respective member's sites and open a few live accounts ranging from $100 to $500 (always start with demo accounts first, then when you decide to go live, start small and when a system has proved itself over time, invest more or leave it running and look at other systems!)... So I veered a little off my initial decision to start with one system. I decided to squeeze a little more money out of my salary and invest in a few systems. I'd use the 60-day money-back guarantee and go from system to system. If one didn't perform I just get my money back and use it to check the next one out. So I decided to start with three. I will introduce them a little later on in this guide...

I have to mention that at first I tried some of the best free EAs out there on demo accounts but that didn't go down too well...

So I went and purchased my first EA, FapTurbo! I will go into more details in a later article...

Conclusion

So, who can we trust? Which products are the most successful? With your help we can find systems that really do the job as promised by the developers.

The purpose of this Blog is to review the best EAs that are perfect for Forex Newbies, beginners like me. I'll review systems that are easy to implement and need no (or very little) manual intervention once they are installed & configured. I will provide accurate and honest feedback about their performance. I will post links to my actual live trading stats so you can see for yourself how they perform (no back-test mumbo jumbo, only live stats from real demo or live accounts). Remember that NO EA is perfect and from time to time you will need to change the EAs' settings and install released updates for it to perform optimally with the market conditions at the time. But hey, who cares for a few minutes of work a week when they do all the rest of it for you!

I want to ask you to please provide your (honest) feedback of systems that you are/were using, good or bad. I would like to distil down a list of systems that people can feel comfortable purchasing and be confident that it will make a good, steady profit for them (without hurting their budget too much!). I want this Blog to be successful and not a hyped sales pitch site that fools people into buying systems that don’t perform well.

Please Note.

I need to make it clear that I'm currently not endorsing any Products, Websites, Services or Brokers. I will however "recommend" the systems, services and brokers that I use because I've had some experience with them and had very good results, but in the end it's all up to you to decide what systems/services you go for! Once I have months of live trading results on real live trading accounts that have proven itself, I will definitely endorse the best ones. But for now this Blog is just a true and honest platform for me to express my feelings, ideas and experiences I’ve had so far. I do not write about bad performing systems and if some of the systems that I've been "hyping" about ends up been crappy, I will surely remove it from my Blog, that's a guarantee. I will be very satisfied if this guide becomes a trusted source of rock-solid accurate information that could help people without them having to sift through the stupendous amount of cluttered miss-information and in-accurate "advise" that exists out there.

I want to be honest with you about the fact that I do earn commission if you purchase a system from a link on my blog. I also earn a small fee for every time that visitors click on the Google Ads links. So feel free to click away and help me earn cash! Nah just kidding!! But like every blogger it does encourage you when your Blog earns you a little cash on the side because it does take a lot of time and research to create a good Blog. So I believe there's nothing wrong with refferals or ads on a Blog, I just don't want my readers to think that my articles are biased towards systems that are "advertised" on my Blog.

I will stick to my code of The Quest For The Best! I really need to find systems that will bring in the cash, and when they do, I'll share them with you. I would like to help all new traders who get scared when trying out Forex trading for the first time and run for the hills when things go bad. It will be a great achievement for me to have one of the top free Blogs where people can get good advice and make a success without having to go through months of late nights and week-ends researching and ending up just cutting their losses and giving up.

There are lots of successful people trading Forex and I intend becoming one of them. Then, help you to become one of them! I love sharing my success stories and that's the 1st intention behind this Blog, the 2nd one being that this is a reference guide for myself as well.

Note #1: Please be careful when purchasing an EA. Make sure that they offer you a full, no questions asked, 60 day money-back guarantee. That will give you enough time to evaluate them and see if they work for you. Continue reading to see my top EA recommendations...

Note #2: When choosing a Broker first start with a Demo account. Choose a broker that offers demo accounts for free (most reputable ones do), with no time limit on the account. Open as many Demo accounts as you need to. Test, test, test!! Be patient until you're comfortable with your combination of EA & Broker, then go live! Continue reading to see my top Broker recommendations...

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