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Forex AdviceYou maybe new to trading or not doing so well, so you decide you should take some forex trading advice and by it from a vendor.The copy looks tempting but should you part with your hard earned cash? Let?s look at 3 essen 1. Does The Vendor Have a Track Record By this I mean a real track record of real forex profits, supported by account statements. This will allow you to strike over 90% of the people selling FOREX advice off your list. Fact is most come with vague testimonials of the odd profit or a hypothetical track record. These are meaningless. Anyone can have the odd lucky trade and anyone can make a track record profitable if they know the price history. If you take FOREX trading advice you want some proof the vendor has made some profits and put their money where there mouth is rather than relying on making money out of you from selling the advice. 2. Make sure you understand the methodology By this I mean make sure you know the logic the advice is based upon. One of the main requirements for following a trading system If you don?t understand the forex advice you won?t have the discipline to follow it and will throw in the towel early. 3. Make sure it suits your trading personality Some traders like high returns and can tolerate big swings in equity against them others like a more gentle way of trading. When taking forex advice look at the track record and look at the worst drawdown i.e you had started following the advice at the worst time and see if that fits with your methodology. A system may make 90% in a year but if you have a 60% drawdown and can?t tolerate this risk you will probably throw in the towel early. Finally Use common sense when taking forex advice from anyone and make sure that their reputable and offer advice assistance and most who do will offer you a satisfaction or money back guarantee. There is some good forex trading advice out there and if you use the above criteria to choose you will get rid of the bulk of advice which is normally sold by book sellers who have no chance of making money. Article Directory: http://www.articledashboard.com MORE FREE BETTER TRADING INFO On all aspects of becoming a profitable trader including free articles, features, downloads and for a exclusive Gann Trading Course visit our website at www.net-planet.org/index.html Permalink: http://expert-talk.com/tips/49/forex-advice-31049.htm Related Tips and Advices
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