I have a slightly different opinion. There are three general types of forex trading, technical which tends to pay the best but has the most risk, fundamental trading - needs heavy resources but safer and profitable too if you have the finances to swim with the big fish, and systemic, the safest but doesn't make the big bucks todays traders are looking for.
I suggest learning first and demo trading until you know that you know enough to go live. The problem with following other traders or letting them trade for you is the question of what happens to your income when your trader dies? I like robotics. There are good and bad in robotics just as there are in live traders except the robots can be back-tested and shorten the evaluation period.
A robot is consistent, reliable, tireless and won't sell you out for its own well being, it has no emotions at all. One robot took over 3,000 trades in a 15 month time period during the financial melt down of 2008. It lost one trade for 8 cents. No human trader could ever do that, you'd have to be a machine.
How to spot a potentially good robot; ask the developer if you can try it out on a demo, free for 3 months. If he says no, he has something to hide. If he says yes, try it and see if it will do what you want it to do. Always learn what your system does before using it on a real account.
How to spot a potentially good trader to follow; ??? Probably look for time on the job. In this line of work, if you are not good at your trading, you won't be around long. Look at Vontogr for example, he's been on here since Feb, 2011 and trading before that. He is one of the traders I would definitely check out.
Crazy Traders is another well seasoned professional. If they can't help you themselves, they can tell you in what direction to look for what you are trying to accomplish. Only after you find one that works, should you begin to search for other things to diversify into. Don't let too many options confuse you, focus on one thing, get to really know it, then branch out.
But if Vontogr trys to tell you anything about martingale systems, don't listen to him. He tends to say silly things about systems he doesn't personally use.
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