Softly softly catchy monkey

Hi,
I’ve spent the last four months checking out the Forex scene, along with its bewildering array of expert mentors,EA’s and holy grail bot software and training courses. My question is- is it possible to bimble along and raid the market on a daily basis to pick up low gains ( £10 to £20) with minimal risk/stop loss ? I’m not out to make a killing full time, but it would be nice to make some small gains weekly to add to my sports arbitrage pot. And a few beers. So far, every promo e-mail seems to be from an expert who has a ‘cut the Bullsh*t’ software package not seen before. I subscribed to one of them and got a whole two alerts over the 30 day free trial period. Woohoo. I don’t want to be Bill Gates or Mister Buffet, but a disciplined,low risk/low gain strategy would appeal. Any thoughts?
All comments gratefully received.
Many thanks. Oh, and happy Christmas/new year.

Wish you luck Bob. BTW what’s an EA. I see it mentioned frequently here and I’m an apprentice forex trader and I know it’s a stupid question.

Hi Mot. An EA is an ‘Expert advisor’, a piece of software that trades for you ‘while you sleep’, based on certain parameters. However,if they were that efficient, this forum would be unnecessary. As you will see, a lot of the old brigade ( with all due respect, the experienced traders) dismiss them out of hand- Forex is volatile and liquid, and I’m personally not going to jump in all guns blazing without at least dipping a toe in the water for a few months first. I quite like the idea of fixed odds ‘no touch’ strategies, but am still trawling around the web to pick up other trader’s personal experiences without listening to all of the standard sales patter from the software vendors.

Thanks for that Bob. We are in the same boat as far as Forex is concerned.
What’s your take on ‘Purple Patch’? or have you heard of it?

Is someone having a conversation with themselves trying to promote an EA? :o

Hahaha, it certainly looks like it.

EAs are for people who don’t want to put the effort in to learn how to trade, and while they might be successful initially, they eventually bust your account…

To answer the question, yes you can learn to trade to make a little side income, but it takes time and a bit of effort.

Cheers

I wish it were so. Afraid I’m a dummy about these things. A total dummy:D

Yeah, but not enough of a dummy to promote “purple patch”…

What on earth do you mean by that?
Is it some kind of an accusation?
I asked a simple newbie question and you pick it up wrong.

Start slow. The market isn’t going anywhere.

The reason most “EAs” don’t work are because they are optimized for a certain market at a certain time in the past. You could probably find a relationship between the advent of bell bottom jeans and the 10 year bullish E/U run, but that proves nothing.