Since Foreign Currency Trading (FOREX) became available to the public in about 1997 there have been hundreds of managed trading accounts, pooled funds, signal services, and training courses designed to help the average person get access to this lucrative market. The record has been mixed with a lot of casualties along the way.
If you are wanting to get into the FOREX market directly you essentially have three choices:
1. Have someone trade your money for you and relinquish control and pay up to 50% in performance fees. These are either pooled or managed accounts and you can find many on the net. Many people have lost their shirts with such traders and it is very hard to find a trader who is consistent and steady and not trying to get rich over night with your money.
2. Spend thousands of dollars on courses, books, signals, and training and still end up one of the 90% who fail in the first 60-90 days of their trading experience. And IF you happen to be relatively successful then expect to be staring at charts for hours on end and see your stress hormones go into overdrive. Mostly you will be learning about 'directional trading' and hoping that your system will be able to 'beat the market'. Few, however, beat it for long. The road to directional trading is strewn with corpses of traders who did not survive the test of time.
3. Learn to hedge the market using proprietary and largely automated software that have recently been coming onto the market. Hedging, when properly done, can be the safest and most lucrative approach to this market. Greed and fear also play much less a role here because you only need to decide your risk level, your capital investment, and the pairs you will trade. The rest is automatically executed for you.
Having tried all of the above I have found that the safest, least stressful, and least time consuming method is hedging the market using proprietary software.
I have looked at a few such systems but only one stands out above the rest and is the only one really getting the attention of the major brokerages in the US. With over 5000 users in 80 countries as of June '07 and over 70% of these trading with live money (over 35 million USD at last count) it is the system of choice in a world full of time consuming, expensive, and largely dangerous approaches to the FOREX market.
It is also the only way you will ever be able to get 400:1 leverage on accounts up to 1 million USD with 3 large brokerages in the US. And in this kind of trading 400:1 is more profitable AND SAFER than 100:1.
The hedging strategy I use works by reducing risk and volatility by buying currency pairs that traditionally are 'negatively correlated'. The EURUSD and the USDCHF, for example, move in opposite directions 93-98% of the time.
Most 'directional' traders don't hedge because they believe that there is no money to made here and believe gains in one pair are wiped out by losses in the other.
However, with the software I use we can actually DOUBLE our profits by ALWAYS buying low and selling high while earning daily interest (the 'carry trade'). We do this all the while reducing risk and volatility in our accounts.
What is MOST attractive about automated hedging is that it can be managed in about 5-15 minutes per week.
The great thing for most beginners traders is that there are no charts or graphs to read, the system tells you what to do and when to do it.
The system tells you exactly how many lots to buy or sell and always buys low and sells high and provides exact buy and sell points so there is no guesswork involved.
Your funds are in a segregated account with a registered and audited broker who executes the trade and alerts you by text message or email.
Unlike signal services, there is no risk of missing a trading opportunity here and there is no need to monitor trades all day long or run to your computer when trades are triggered.
Because interest is received and paid daily the balance of DAILY interest is paid into your account at 5pm EST every day and triple on Wednesdays.
You do not need any prior trading experience. But, knowledge of the FOREX won't hurt you and you can also put your knowledge to work here to squeeze a little more out of the hedge.
You have 100% control of your risk/reward and 100% control over your money.
In my opinion, if you value your time and mental health, there is no better way to trade the FOREX market. What this system gives you most of all is 'freedom' and the time to enjoy the money that such a system can make for you.
Whether you are a veteran trader tired of spending half your life in front of a monitor or are a novice who has just heard about FOREX for the first time, I recommend you consider hedging the FOREX market to minimize your risk, maximize your returns, and free up your time.
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Article Source: http://EzineArticles.com/?expert=Wayne_Nash
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