What kind of internet connection do I need?
Although it is possible to successfully trade and monitor your charts using a regular phone line connection, a high-speed connection will allow you to search through your charts for trade signals much more quickly & easily. Three recommended high-speed Internet connection services are Cable, DSL, and ISDN (where available). Call your local TV Cable or Telephone Service Provider for pricing and availability in your area
Not at all. Successful active traders come from many different professions. Unlike manual trading systems where you have to practice for many hours a day and stay up all night and up through the early morning hours our robot trades our system for you on your account.
In general, forex trading is usually a short-term investment strategy in relation to other investment vehicles. Trades may last a few minutes to several days with a short-term strategy or several months to several years with our long-term strategies. With a short-term strategy, the goal is to predict relatively small short-term moves in the market, compared to long-term growth investments like stocks, mutual funds, bonds, or long-term notes that may be redeemed at a future date.
When comparing our software with long-term strategies to other markets the biggest difference is that in forex trading, you can earn daily interest on your open positions based on your leveraged trade volume. Most other markets don't pay you any interest at all on your open trades. Over the course of a few years this interest can accumulate to hundreds of percents depending on the interest rates and how much you are leveraged. For example, if you have $10,000, you could open 10 trades of $100,000 each ($1 million total trade volume) and earn daily interest on each of these open trades for as long as your trades are open. It's not much different than if you had borrowed $1 million (interest free on your end) and deposited the money into foreign banks around the world to collect interest.
Your risk is the exchange rate between the currencies you bought and sold but the interest is 100% predictable and guaranteed. If the average interest rollover rate per trade is 4% per year on $100,000, then your return in interest alone would be $4,000 or 40% on your $10,000. This is before any profit or loss is taken from your trade positions as a result of currency appreciation or depreciation. In addition, holding your money in multiple currencies is a great way to diversify your wealth.
No, but any experience in the market would be advantageous. Familiarity with any kind of trading is helpful. The better your background the easier it will be to get started. Please see our risk disclosures as well.