Hi, I am considering entering the forex arena. Can you truly make money and are there any reputable EA’S, robots or whatever is out there. I would really appreciate any help out there.
Regards,
Welcome to Forex and BabyPips,
I, personally think your on the right path by just being here.
First off, you need to estimate your available time that you have set aside if you decide to take this journey.
That is the main thing to Forex, TIME
Are you Married? If so, will they be behind you in this? Will they understand the stress that you give off at time?
Do you work during the day?
4 Trillion Dollars a day in this business, Yes, there is money to be made, without a doubt.
Will YOU make money in it? Maybe, Maybe Not, but Odds say No, Because 95%ish fail miserably in Forex.
And, its mostly, because they Use Robots, instead of learning the Real, True, meaning of Trading currency…
You want to dabble in Forex, or are you looking for a career change.? That will influence your account balance.
Now, you can take this by the horns, dig deep, and start building your knowledge base, and grow your business beyond your wildest dreams, but that is something YOU have to figure out.
Im going to be honest, the Robots are over rated… ALTHOUGH, you can get a great one, but money talks. Thats how the big guys do it.
WHY? Well, its all about timing. The faster move always ends ahead. And they have complited data bases that the average brain cant handle.
Now, you want a slow grind, maybe 5-10% a year, you can get a Robot that is sooooooooooo picky, make a few trades, but should come out ahead of the game.
But in the end, you need to really leanr the whole entire process before even handling a Robot and real money.
What if it goes haywire, and you not having the proper knowledge of possible outcomes to stop it manually, because your about to lose everything you gained, What are you going to do then?
You need to spend some time and research., the pros and cons of EA’s
It really bois down to what you expect, and the time you have to invest,
Great luck to you, and take BABY STEPS, learn the fundamentals, thats most important at this stage…