Jreardan,
The THV system works and it's free, however you can't just rely on the system alone, sometimes you need to apply basic technical analysis.
Forex Morning Trade is a commercial EA but again human intervention is required especially during highly volatile markets.
I don't beleive that only 5% of people make money in trading forex, the same with stocks. Nearlly all the people I know in stocks make regular money. I've grown my own stock trading account by over 800% in six months using basic techniques available on any internet forum. A few examples I use are stock gap downs, looking for daily reversal patterns and a simple MACD histogram pattern. I also trade AIM oil companies using a simple hedging technique. For day trading you want to know my most profitable "system", trading the bounce off support / resistence, that's it, nothing more nothing less. Having just moved into forex am very happy to say my support / resistence is working, pivot points are working too.
You see all of my strategies work however the market conditions have to be right, some days I can catch gap downs, other days if I traded them I'd be on the end of a loosing position, this is where market knowlege comes in, you need to understand what the markets are doing and only then can you trade a system. There is no system that works 100% because conditions change daily. The only known system capable of understanding the market is the human brain. This is why people are comparing trading to becoming a doctor, I'm sure a doctor could teach me the techniques required to perform one operation, but if I'm unable to diagnose the patients condition that same operation could have disasterous effects.
I consider myself a newbie as I've only been trading live six months and my best advice to you is to just ignore all these sore loosers, people in this game are highly negative because they've been burnt, I'd also avoid paying for anything until you are a "pro" yourself as there are a lot of charlatans in this industry.
Bar the EA, everything I've learnt about trading has been from free information sources. You need to understand how the markets work before you consider buying or using a system. If you have the discpline and patience to learn trading you will go far, if on the other hand you are looking for a quick fix then you probably don't have the right mindset to be a trader anyway.
Part of the fun is the chase, so please just forget about wealth and instead concentrate on finding those frequent ureka moments when you discover something new, or you begin to understand a little more about the markets.
With regards to wealth, you may be thinking I'm a millionaire if I've made 800% in six months but the truth is I earn a very modest wage from trading, about the same as a warehouse worker. The reason why is because in stocks I only place £1000 (appx £3000 on leverage) trades, Sure I could place bigger trades but that's how accounts get blown up. From stocks I make on average about £100 per trade (less after you deduct commisions ect). My biggest loosing trade was around £400 and my biggest win was £1600, from a pharma. I've gotten a couple of hot oil trades around £300 too.
In forex there is the opportunity to place bigger trades, but for now my trades in forex are minute as I've only just moved into forex live, my average earnings on forex are less than £50 per day and for now my bread and butter money is still stocks.
So yes you can make money from trading but I don't beleive you will become a millionaire without any significant risk. Ask yourself this question, is it really worth risking everything you've got.
