Hi Everybody,

Long time lurker, first time poster so apologies if a stupid question...

I have around £8000 available to me to 'invest' plus some money to 'buy' some systems and after a lot of research I've come to the conclusion that (roughly in order) Forex Morning Trade / Turbo, Forex Growth Bot, MegaDroid, 4 Hour Trader and Winning Dow Signals are of interest to me and 'appear' to 'work'. As you can robably tell I'm leaning quite heavily to EA's as I really don't want to spend hours glued to a screen.

I either want some hard and fast rules I can follow (I am very disciplined) or an EA that does what it's supposed to.

My aim is to grow my bank and whilst I realise £8000 isn't a huge sum I'd like to think I can grow the capital by around 5% per month (laugh at this stage if you want) and I am prepared to take moderate risk.

My question is two-fold; firstly, does it make more sense to diversify my bank across 2,3 or 4 of the above methods or would I be better off sticking to just one method and secondly I'd appreciate any comments from actual users of any of the above mentioned services / tools.

On a final point, ForexJackal (Phd system) by Andy Thompson (no relative), any views as this one seems low on the radar apart from obvious affiliates.

Many thanks for your time.

Hi

I don't think your goal is unrelistic. I am on the same journey myself, and can share what ive learnt for what its worth.

I started with robots and made some money and lost some money, and signal services and lost some money etc. I think of the money lost as payment for education. Problem is with robots is they are non discretionary and so most fail at some point, and in a big way. Many robots have a small take profit and large stop loss. So they win most of the time but when they loose they do so in a big way. They don't, for all the sales blurb, do well in changing markets. And so in the first couple of months after Christmas and then in July they often fail consistently. In terms of sales pitches, divide the advertised results by about 5 and you might be getting close if your lucky.

What I have come to, after a year of trying black box systems, robots, and signals etc. is that a trader needs to learn how to trade. For long term success there is no other way - in my opinion. If you want to use robots afterwards you can atleast tell whats good and what isnt. But you will probably want to trade yourself.

I have signed up with Forex 121, a UK based mentor that you speak to a real person on the phone and learn how to trade. I made 300 pips last week for the first time since I have been trading - and ive only just signed up!

Even if its someone else, my advice would be pay some money to learn how to trade properly as your starting point.

Of course, ive only been at it a year, but in that time i have made just about every mistake possible and some that aren't even possible!

Were on the same journey my friend, would be great to stay in touch.



What ive come to

Hi,

Here is our Forex Jackal Review from 2 years ago.

Diversification - We believe this is paramount to success, in the context of aiming to be consistently profitable.

EA's - We would never trust an EA on any sizeable account therefore we don't even consider them.

slowbutsure provides a valid comment - it's a journey - in our opinion one could do much worse than starting with the BabyPips site

As someone who is still searching I'd like to know how you are progressing. I am currently trialing a service, not making a fortune with it but enough to keep me interested for the moment.
Best regards
Jim