It is not unrealistic to expect your Forex account to double in size. It’s not easy, or else everyone would be doing this, but it is possible. This is especially true when you are using a top of the line expert advisor (EA), such as Tom’s EA. Some people have reported earnings of over 100 percent every year with this trading robot, but a lot of these are not verified. However, with the site myfxbook (www.myfxbook.com), you have tools at your disposal that allow you to fact check EAs like this. Over the period being observed–about two years–Tom’s EA had a return of 135 percent. And this is after experiencing the inevitable losses that will periodically plague even the very best trading robot.
This site is a great tool for traders looking to expand their Forex trading. It’s dedicated to using analytical tools to help investigate automated trading systems, and as such, it has a wealth of information for those people thinking about using a robot to help them make more money. For those individuals looking to start with an EA, this is a very important first step. Think about it: it doesn’t matter how much you spend on the software. A highly effective robot will earn that cash back. It might take a little bit, but a good EA should easily pay for itself in a few weeks, assuming that you fund your account correctly.
Another great feature is that you can use the site to analyze your own trading with advanced statistics and insight you may never have thought of on your own. This is a good way to find holes in your trading system and fix them as quickly as possible. As you can see, a good trader is always looking to be a great trader. Perfect trading is impossible, but you should always be striving to get as close to that ideal as possible. And by yourself, without some sort of expert analysis on your side, you will never approach that ideal.
Trading, especially Forex trading, is a task that will take a lifetime to gain a mastery of. Even then, there’s still tons to learn because the markets are always evolving. The markets are huge, and monitoring everything at the same is tough, but a computer is able to do this, and myfxbook does a very good job of helping you keep tabs on the assets that are important to you. By using their dashboard, you can watch everything you need to all in one location. For a professional money manager, this is especially important because you have a lot more riding on your trading than just your own cash. It even makes financial statements and account overviews simple to access and print out, so you can study your trading away from the computer.
One last thing that many people enjoy about this site is the community aspect of it. There are always discussions going on here about trading strategies and the EAs that help maximize profits. If you are a serious trader, talking with others is a must if you want to grow outside of your current knowledge base.