Yes You Can! Having Success With Automated FX Trading Software

Automation is in the world of currency forex online trading truly the lazy mans way of trading the forex. It’s simply intelligent to let an automated system work for you. Why? This way you are able to beat your biggest conqueror, You!

But be careful, after 6 years of FX Online Trading, I’ve been probably through all the pitfalls that this industry has to offer, which was sometimes a very hard lesson to learn. But what if you don’t want to make all these experiences yourself? So what makes the difference between the winners and the loosers?

To make a long story short, there are some key factors which are absolutely crucial to your success and surviving in the sea of sharks (Brokers, Institutional Traders, Banks, Advertisers and most important: You!) at currency forex exchange trading or short FX. So here they are:

How to become a successfully currency forex online trading expert

The 5 basic rules

1. Do not put any money at risk that you could need elsewhere. Never!

2. Do not have more than 3% of your current account balance at risk. Make sure you have always a Stop/Loss in place that takes care of this. Crucial!

3. You have to begin with demo trading first. One month is an abolute minimum for this (the majority of automated FX.)

4. Before you ever go live with your forex trading, I recommend that you have experienced a minimum of 2 month of profitable trading.

5. After finding a profitable FX Trading Software, always take portions of the newly earned capital out of the account and let the rest accumulate. It would be wise to take a good portion of your profits off the tabel (around 50%) and let the rest accumulate.

To get started right away, that’s all you need to know. If you only follow these simple rules you are well ahead of so many others and on your way to the Top 5% who are making serious money with fx online trading.

Forex Trading Software – How to find a profitable one?

That’s no easy thing to achieve. Normally you have to test dozens of systems to find one that is really profitable. To make this perfectly clear. Sure, everyone claims to have one that is profitable and will make you tons of money, but the reality can be very sobering. Can you handle the truth? Most of these automated FX online trading systems simply don’t work. Oh yes, they trade automatically for you, but NOT profitable.

Automated FX Trading Software Systems are more often than not based on the MT4 Platform of Metatrader. The programs where named Expert Advisors (EA’s). EA’s are simply some piece of Software that tell the MT4 Platform when to trade, which currency pair and how to trade it.

Just google it out on the internet. But I don’t want to overwhelm you with too much info. That beeing said, I will go straight to the point of interest:

5 Rules to find an automated FX Trading System that really works

1. Any advertising for an EA that only shows you so called “back test results” isn’t worth any closer look at. Because back test results are only good for programmers to get an idea if their system works or not.

2. Only rely on the so called “forward testing results”.

3. The Trader/Advertiser should have a live stream that you can follow and look at all trades whenever you want to.

4. This automated system should have build in settings that you don’t have to figure out for yourself. An update service should be included. A very important factor, because to optimize such a system could take you many month to get it profitable.

5. And last but not least, they should provide a no-risk or money back guarantee.

That’s it. Again, if you only follow these key rules, you are well ahead of 95% of your competition.