ALWAYS BE AWARE OF NEW STUFF ON THE MARKET!!! BE SURE TO DO SOME RESEARCH BEFORE YOU INVEST. A GOOD WAY TO MAKE SURE IS TO GO TO YOUTUBE AND WATCH REVIEWS I PERSONALLY TRUST Louis at Trusted Binary Reviews.
This is a warning to anyone who is considering to join the Zulander Hack SCAM, by the alleged Michael A. Wright! Our review is based on many complaints and evidence, all leading us to a firm conclusion that Zulanderhack.co is a fake site and not a true opportunity for binary options traders. Forget about making over 1000EUR every 5 minutes, because it’s not going to happen with any system or app, this is one of the most exaggerated claims we stumbled upon.
At BinaryoptionsWatchdog.com we receive many emails via Watchdog’s Complaint Center, alerting us about new scam sites and since The Zulander Hack is a well produced offer it turns out that many traders fell into their trap, reporting a daily performance of 55%-60% ITM, not enough to make money but certainly enough to land this failed system on our Blacklist. Michael A. Wright doesn’t exist, but the actor who pretends to go by this name is a liar.
Let’s set the record straight, the Zulanderhack.co domain was created on December of 2015, two months ago but yet they clearly state the following: “242 consecutive days of profit”‘, it’s clearly a misleading statement and they placed it right below the Zulander Hack logo to impress potential victims. This pitch page is a complete fraud, what’s “Verified Online” It’s probably an attempt to manipulate you into thinking that this website is 3rd party verified.
“3 Licenses Left? Come on…Really?!”
For those who already have experience with binary options, this review and warning is not necessary because this obvious scam was truly created for the absolute newbies. At the top right you will notice the “remaining spots left” widget, and the longer you stay on the Zulander Hack scam site, the membership count will drop but if you try signing-up on the following day, they will still let you in as this is nothing but a cheap, pressure tactic mainly used by scammers. Any legitimate broker or signals provider would provide you with some kind of credible evidence and information you can confirm but so far, besides a few fake reviews on random sites, it doesn’t look like this “wonderful opportunity” is gaining any real authority and certainly not on credible blogs and forums.
Based on the feedback we already received by Zulander Hack members, we know that they don’t answer to any support emails and if they do, they’ll just tell you to register and disappear. After you register with the software, they will redirect you to scam brokers which you may find listed on our Blacklist. Any broker that is collaborating with this fraud cannot have any credibility and we in general we suggest that whichever service you decide to work with, always verify that you’re dealing with a reputable, regulated broker because the last thing you want is, problems with customer service and withdrawals.
Review Verdict: Zulander Hack is a SCAM! BEFORE JOINING ANY PROGRAM HOP ON OVER TO http://www.binaryoptionswatchdog.com/
“Trade what you see” is a phrase traders love to throw around, but the true meaning behind it is mostly unknown. Trading what you see has become a hollow phrase and its true meaning has been forgotten. By the end of this article you will understand why you probably don’t trade what you see either.
Trade what you see vs. Trade what youthink
Whereas “trading what you see” describes the optimal scenario in which traders make objective decisions based on sound price analysis, “trade what you think” is the exact opposite and it is how the majority of traders make their trading decisions – driven by emotions, impulses and wishful thinking.
The following three psychological biases explain how our brains are hard-wired to make assumptions about price which are essentially false.
Phantastic Object Bias
“A mental representation in which an imagined scene fulfills a person’s desires to have exactly what (s)he wants. The imagination drives investors to see what they want to see in an investment.” (Tuckett 2008) 1
Tuckett said it well and it perfectly describes the problems of “trade what you see” vs. “trade what you think”. During and after long price rallies traders realize how much they could have made. This leads to wishful thinking where traders enter a trade based on the hope that the rally will keep going.
How often have you seen a long rally you did not participate in and then suddenly decided that you want a piece of the action as well, although you didn’t have any real trade entry signals? In such a scenario, you didn’t trade what you saw, you traded what you hoped would come true.
Illusion of Control Bias
“Believing one can control and influence the outcomes that one actually has no control over.” (Langer 1975) 2
You make your analysis, you follow your rules, you pick a trade that fits your criteria and then it turns into a loss. No matter how good your analysis and how well you follow the rules, even the best setups will fail.
Traders think that the best setups won’t fail and then they get emotionally attached to the trade which, as we all know, leads to major losses and disasters. The chart may tell you that the long trade idea is not working, but you can’t accept that such a great setup is failing. You don’t trade what you see, you trade what you think should happen.
“Anchoring is a psychological heuristic that describes the propensity to rely on the first piece of information encountered when making decisions.” – Investopedia 3
The Anchoring bias describes a phenomenon where traders suddenly set their whole price chart in relation to their entry price. When price moves against your position, it suddenly looks low and traders believe that a pullback is more likely. Or, when the trade moves in your favor, price starts to look high and traders become scared because they believe that a retracement is inevitable.
You don’t trade what you see; you trade from the perspective of your entry.
7 tips to master the concept of “trade what you see”
Tip 1: The 5-seconds rule
Before you pull the trigger on your next trade, pause for a few seconds and ask yourself if this is really what you should be doing. Take the finger off your mouse, step back and objectively look at your chart. The concept of “what would the professional do” is not known to most traders.
Tip 2: Wait one more candle
This is something that has made a big difference in the lives of so many traders. Many trading mistakes can be attributed to early entries and entering positions that don’t meet all the criteria “yet”. Just waiting one more candle before making a decision can often turn the performance of a trader around.
Once you give this concept a try you will start noticing how difficult it is and how much your emotions drive your decisions.
Tip 3: Make candle by candle decisions
Mid-candle decisions are often, not always, the result of impulsive and emotional trading mistakes. Especially for new traders, not making mid-candle decisions can have a big impact on your performance. Not many people believe us but once they try it, they can see the difference. Just like the previous tip, once you start applying this concept you will notice how much you are really a victim of impulsive trading decisions – especially when you are glued to a screen all day long.
Tip 4: Use a physical checklist
We really want to drive this point home because it is so important. Write down all your entry criteria and place the list in front of you. You are less likely to break your rules if you can see them.
Tip 5: Separate trading from charting
We often encourage traders to use a neutral charting tool like tradingview.com (you can follow us on Tradingview here) for their charting and when watching the markets. Traders who only use one platform for charting and trade execution can see their orders at all times and are more likely to make emotional trading mistakes.
Tip 6: Have a trade plan for long and short scenarios
When writing your trade plan, always have a plan for long and short scenarios. Even if the market looks very bullish ask yourself “what has to happen so that I can go short? Where does price have to be.” This will help you stay open minded and flexible.
If you are too focused on one side of the market, you always feel the urge to open a trade and act on your opinion.
Tip 7: Blank out other peoples’ opinions
As a trader you have to take full responsibility for your actions. You need a consistent approach and trust in your method and your abilities. Be clear about your rules and your approach. Listening to other peoples’ opinions has to be avoided. It leads to confirmation bias and trading without confidence and conviction.
Conclusion: What “trade what you see really means”
I hope that it became clear what the concept of trade what you see really means. Most traders re guilty of not knowing how to trade what they see and they are constantly acting on their emotional and impulsive reflexes rather than making objective and analysis-driven trading decisions.
With the help of this article you have the tools that help you become more aware of your trading behavior so that you can avoid negative patterns.
1 Addressing the psychology of financial markets >
The following is a list of automated Forex trading brokers. You can rest assured that the automated forex trading reviews listed below were conducted with the utmost level of professionalism and objectivity. It is highly recommended that you read them, open a demo account with several different automated Forex traders, and only then open a real account.
The AvaTrade AutoTrader is a trading system that has been called a revolution in the online trading market. Traders can take advantage of the reliability of a highly respected Forex brokerage in conjunction with trading strategies from global trade leaders. They can choose from a wide range of strategies and ‘buy’ the strategy that has performed best in a chosen period of time. Once they have chosen a particular strategy, it starts to automatically execute buy and sell orders in his Forex trading account.
ZuluTrade is not your usual Forex broker. It is a hybrid Forex Signal Provider and managed account network that facilitates the trade signals of the world’s best traders and automatically executes them in your personal broker account for free. ZuluTrade.com is part of ZuluTrade Inc. Founded in 2007, it bridges the gap between valuable information in money markets and trade execution by converting the advice of some of the most professional and talented traders globally to a rapidly executed trade.
ForexYard has recently joined the auto traders arena with their new Forex Strategy Automator (FSA). This is of course a positive development to all those beginner traders who want to depend on others’ Forex expertise, rather than spending countless weeks or months learning it themselves. Alternatively, traders who are more experienced but do not have the time or desire to actively trade and would rather have their account on “Cruise Control” can also benefit from Forex auto traders.
Forex autotraders, also known as mirror traders, are quickly becoming a very popular feature among FX brokers, and Market.com’s AutoTrader feature is no exception. Their AutoTrader feature allows a trader not only to review the most popular and successful strategies of the platform’s top traders, dubbed by in the Markets.com AutoTrader platform as “Strategy Providers,” but to copy their trades as well, either all of them or only the specific few which meets each trader’s individual needs.
FXAuto by Tradency is another Forex auto trading system available to Forex traders. The concept is simple, many traders want to benefit from the world’s largest financial market, but do not have the time or will to start learning and studying the market.
Strategy Exchange is a relatively new player in the Forex Auto Traders’ market. They were established in 2006 to address what they call “the growing demand for automated trading solutions by both Buy-Side and Sell-side market participants.” Their technology and infrastructure is based on the well-known Strategy Runner system, an industry leader in fully automated trading systems. Strategy Exchange targets both new and experienced traders with a user-friendly interface and modern website.
FX Renew offers a unique Auto-Signals program that permits clients to have any FX Renew's trade placed by a licensed Forex money manager instantly replicated in their MT4 account, in contrast to those using EA’s, robots and demo accounts. A CFTC-registered IB & NFA Member, FX Renew never adds a mark-up to clients’ spreads and offers the Auto-Signals service free to clients who trade a live account with them. FX Renew offers its clients valuable services, excellent support and a transparent approach.
Forex O'Clock is an automated trading provider that is offered for free to any trader funding an account with FXDD, a globally regulated Forex broker with available leverage as high as 200:1 and a minimum deposit size as low as $250. Forex O’Clock is also known as an automated signals service and receives its signals from an Italy-based price action trader who believes that time frames lower than the 4 hour charts are unreliable and that trading with the trend is key.
Forex is easy to learn and success can come with the very first trade. Understanding how the final analysis of profit and loss is configured is an important first step in Forex trading and a certain amount of Forex training is definitely a prudent undertaking by all traders if any money is to be made in currency trading. Understanding the technical and fundamental reasons behind currency pairs and how they affect price movements as well as knowledge of and familiarity with Forex indicators and tools, leads to a more successful trading experience.
Forex is just one of many investment vehicles a trader can choose and like all other financial instruments, both gains and losses are part of the game. One of the best ways to boost your chances of success in Forex is to understand the ins and outs of currency trading. Setting up a demo or practice account can offer an opportunity to do trade on a live account without putting any money at risk and most Forex brokers offer this feature.
What to look for when choosing a Forex Broker?
Secured Money: Feeling secure with a broker is of major importance to a trader and should be validated before opening a trading account. Most Forex brokers are regulated and/or licensed by international or local regulatory authorities and this entails keeping clients’ funds totally segregated from all other monies.
Customer support: Traders often need to contact a broker representative for clarification or additional information. Contact information should be listed on the landing page and should include telephone numbers and email addresses. Live Chat offers immediate contact with an online rep and is available with most brokers.
Account Types: Brokers usually offer their clients a choice of different trading accounts. Accounts can differ according to the amount of money required to open the account, fixed or floating spreads, varying leverages and more. Bonuses can also be contingent on the type of account opened.
Initial Deposit:Some trading accounts can be opened with as little as $1.00 while others require a minimum deposit of $2500. Brokers tend to provide a choice of accounts and their main difference may be the amount of the initial deposit. Deposits can be made in a variety of different ways, but credit cards and bank wires are the most popular methods with online payment systems gaining popularity.
Charges and Fees: In most cases, there are no charges for opening an account with a broker. Some companies do have a deposit or a withdrawal fee while many don’t have any charges as all. When deciding with which Forex broker to open an account, you should look carefully at all charges and fees and especially the percentage of pips included in losses and profits as this can determine the final outcome of the trade.
Leverages: Most brokers offered traders a certain amount of leverage to enable them to increase their investment amount. These differ from broker to broker as well as from one account to another. New traders just starting out should avoid using leverage at first as it can put him at increased risk if his trades end in a loss.
Spreads: Spreads are the difference between the buy and sell price and this is where the broker makes its money. It is important to check what type of spread-fixed or floating-is levied as well as to compare the amount of the spread with that of several brokers.
Free demo account: Another feature to look for in a Forex broker is whether the option of a free demo account is provided. Demo accounts allow you to make trades in a real online account without putting up any money. Brokers offer this option with varying time frames and different amounts of virtual trading funds but even for a short period of time, the use of a demo account offers sufficient opportunity for you to grasp the concept of Forex trading and learn the ins and outs of currency price movements.
Currency Pairs offered: Most Forex brokers offer trading in the major currency pairs such as USD/EUR or JPY/USD. Other brokers add on what is considered exotic pairs which are currencies from smaller or developing countries. Still others offer trading in bitcoins, a cryptocurrency.
Trading platform: The Forex trading platform offered for use by each broker should also be seriously considered before deciding whether or not to open an account. The trading platform is used to place orders, check out Forex news, perform technical analysis, manage the trading account and much more. Sometimes the platform is a third party application but in many cases it is also a specific application created, designed or modified by the Forex broker. Comparing the features provided in the different versions of both the basic platform and those on the higher upgrades is necessary in assessing whether or not the platform works for you.
Educational Materials: The more you know, the better trader you will be. Some brokers place a strong focus on education and provide a host of different venues such as videos, seminars, webinars and more. Most broker websites post daily—sometimes weekly—news updates and analysis and many provide additional fundamental analysis of what is happening in the markets. Economic calendars list upcoming financial events around the world and different calculators help traders calculate margin interest, pips, profits and more.
Bonuses and Promotions: Some brokers find bonuses and promotions to be an important way to attract new clients and they offer them generously. Welcome bonuses or loyalty bonuses are common and can add significantly to a trader’s account balance. There are some brokers who come up with unique promotions such as cash prizes, electronic devices and even cars or trips.
In today’s fast paced world, Forex trading can offer big profits in a very short time and it has been attracting lots of investors who have tired of other trading instruments and have lost interest in different financial markets. But let’s face it, with hundreds of brokers pedaling their wares, deciding on the right broker can be challenging and time consuming.
To ease the process of selecting a Forex broker, the team at Dailyforex.com has tested and reviewed dozens of the top rated Forex brokers and we have compiled our findings into thorough and honest
Forex broker appraisals. We say it like it is and post the truth and nothing but the truth.
So before making your selection and registering for an account, spend some time reading our Forex broker reviews so you have the best chance of becoming a profitable Forex trader.