Forex Advisor – Four Types of Advisors to Enhance Your Trading Peformance

Forex Advisor Four Types of Advisors to Enhance Your Trading Peformance

Do you need a forex advisor to get you to another level in forex trading? There are several available choices for you in this matter and you need to find the one that can accommodate your need perfectly. Of course, some of them are only scam advisors, so be very cautious for these guys.

So, what sort of advisor do you look for? Before you answer that question, check out the list below for better picture of the types of forex advisor that available for you.

1. Forex trading Course

This can be a program or class in which you'll get materials and resources about forex trading. Different course provides different scope. Some of them educate you on currency trading from basic level, others believe that the student already understand about the fundamental knowledge and go straight to more advanced topics.

Nonetheless, I suggest that you do not take trading course that way too detailed. In other words, a course that tries to stuff all the complicated concepts into your brain at once. You only need practical knowledge that you can employ and see the result immediately, not three hundred fifty pages of trading theories.

2. "Live" Course

Live course is where you observe your mentor while he's making use of the real live market as your "classroom". You'll still get lessons, explanation, and resources. But this time, you see it being used in real market condition and how it produces actual result.

This kind of course is excellent since you can just duplicate your mentor trades and gain profits while studying his methods at the same time. However, I would recommend that you reinforce your basic first before take this kind of course. Find out my top recommended forex live course on Trader Outlook review.

3. Trading Signal

A trading signal service is a service that will send you notifications whenever a potential chance to make profits occurs in the forex market. The notification consists of currency pair to buy/sell, time to execute, take profit order info, and stop loss order info. It is just a suggestion tough. Whether you're going to execute it or not is depend on your own decision.

A trading signal provider will never tell you their reasons, analysis, or any other basis behind the suggestion. They simply send the notification, and that's it. Possibly not a very good option if you wish to grow as a trader, but some people may find it really convenience.

4. Managed Trading

I would not call this one as purely "advisor", but I believe it also worth to cover. Managed trading is where you have someone else to trade for you. To put it differently, you just supply the fund and let them handle the rest.

You have two options: have a trader manage your trades or have a forex robot (EA) to do it. You will discover pros and cons for both options, but basically you just have to select one that can generate continuous profits for you. Read more about this at automated trading software.

Having a credible forex advisor surely can enhance your trading, but you must be very cautious when choosing them. The easiest way to recognize the one that works is test it on a practice account against real market movement. That way, you'll know whether it's a winning system or not.

POST COMMENT

Learn Forex Trading Basics Understanding Foreign Exchange Pricing for a Forex Newcomer Bob Iaccino Forex Review Is This Real forex bullet proof Price Driven Forex Trading Explained Something You Ought to Know Concerning Forex Trading Ways and FAP Turbo A clear explanation of Forex Trading Forex Trading: Even a Neophyte Can Succeed Forex Trading Robots - The Hidden Secrets Of Expert Advisors Why invest in Forex vs. other investments? MoneyForex-Leading the Way in Forex Buying and Selling A Breakout Trading Forex Strategy The Forex Signals presented by Tom Strignano and Vladimir Ribakov