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Forex Section - Home               

Forex links:    Forex Section Home  |  Forex Brokers  |  About Robots  |  Robot List  |  Forex books

(In case you don't know - Forex stands for Foreign Exchange, in other words trading currencies.)

Welcome to my Forex section!

As many of you may know, I have been looking at and trading the Forex market since the beginning of 2008. I must stress that this is not because stock trading or swing trading has become less profitable or enjoyable. "Short Swing Trading" and SST SwingTrader are as valid as ever and if you are happy and making money trading stocks or Indices then stick to what is working for you.

So what has made me look at trading Forex?

I just love a new challenge but apart from that there are some excellent features that attracted me:

  • Certain Forex brokers provide free charting software with a free real time live feed
  • The charting program also acts as a trading platform allowing you to enter and close trades with a click of the mouse as well as manage stop losses and set "Take profit" targets
  • You can go short as well as long with equal ease - it works just the same as a spread betting account
  • You automatically get a demo account to play with and if that runs out of cash you just open another one giving you totally realistic but financially risk free trading to cut your teeth on
  • Gearing is excellent which means you can place quite large trades with comparatively little capital
  • When you open a live account it can be in your local currency (GBP, USD and others) and adding money or taking money out is very simple and extremely quick (bank electronic transfer). You can start with just a few hundred £ or $
  • Forex trades pretty much 24 hours a day, is extremely liquid (extraordinary amount of money traded every day) and is generally technically traded so tends to follow charting principles
  • The trading platform has back testing and optimisation features built in
  • You can build or buy "Robots" (also called "Expert Advisors") which are computer programs which you then attach to a currency pair chart. These robots then trade for you applying the strategy that has been programmed to the relevant chart and opening and closing trades according to the rules in the program.

For me it was that final point which really appealed to me. The thought of just leaving your computer and a robot to trade for you while you are on the golf course was just too attractive to pass by.

Obviously nothing is as simple as buying a robot, plugging it in and making a fortune while you go off on vacation for two weeks but the attractions were good enough for me to spend some time seeing if it is possible.

There are quite a few robots (EA's) on the market and more arriving on a regular basis but I am fortunate enough to be able to also program my own which I guess is another attraction. I sometimes get stumped but have a friend who is a computer programmer and he can help me out when necessary.

Purpose of this Forex section of the website

After 12 months I proved that it is indeed possible to get a robot that trades profitably! My latest versions (I now have two of my own design running on my live account) have traded for some time now and are showing a very healthy profit. More detail on the "About Robots" page.

Trading Forex is not for everyone but this section of the Short Swing Trading website is to help others who are interested to get started and set up to be able to use robots. I have also provided a page with links to some robots that are available on the market, some of which I use on my live accounts.

The great thing is that it costs nothing to set up, there are no ongoing costs (other than the normal internet connection etc) and it costs nothing to be able to trade using a demo account in order to see if you can make money. OK, you might buy a few robots to try out but they are generally a one off payment and some are under $100 although you may need to pay a bit more for the more sophisticated ones. However, a small price to pay when you think of the potential benefits.

Good luck and have fun if you venture into the Forex world of trading robots!

David Graeme-Smith

Forex links:    Forex Section Home  |  Forex Brokers  |  About Robots  |  Robot List  |  Forex books