Inovance Machine Learning Histogram Background Algorithmic Automated Trading Home
Make money forex

The Easiest Way to Make Money in Forex

By: | 03/02/2014

The forex market can be a ruthless place, destroying 90% of the traders that dare enter.

Understanding the market and developing a strategy can take years and there is no guarantee you will be profitable. Luckily, in the past few years another option has emerged: let professional traders and systems handle your money while you sit back and watch. Instead of taking the time and energy to fully develop your own portfolio, you just need to find the right signals to follow. For those of us without thousands of dollars to spend on financial advisors or access to exclusive CTAs or hedge funds there are basically two options: Signal providers or automated trading programs.

Signal Providers

Signal providers are experienced traders who give you access to their live trades. Traders send out a signal or enter a trade that is either sent to you via email, instant message or automatically entered on your account. These signals can come from a discretionary trader or mechanical trading system and usually contain an entry price, stop loss and take profit. Some of the more popular service providers are ZuluTrade, Etoro, and ForexSignalProviders among many others.



Automated Trading Programs

Automated trading programs, as discussed in my earlier blog post, are computer programs that monitor the market and automatically enter in trades based on pre-calculated conditions. While the automated trading industry is filled with scam-like products, take my review of Fapturbo, there are viable options for investors who are looking for a little more control than blindly following a signal provider.



Whether you go with a signal provider or an automated trading program is up to you and your personal investment goals. Either of these approaches allow you to trade like a pro without investing time in developing your own strategy. However, there is still a lot of time and effort that must be put into selecting and managing your portfolio. Every hour you spend on researching and selecting your professionals will save you a lot of money and headaches down the road.

Best of luck on your search!