Sea Level
Automated FX Trading Soiftware – The Basic Rules
Automation is in the world of currency forex online trading truly the lazy mans way of trading the forex. And it’s a smart way of doing it. 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. And if you don’t want to experience all this trial and error yourself? What are the key factors that make the difference between the 5% (or even less…) that make those nice profits month after month and the other 95% who are struggling and burn account after account?
There are some points that are absolutely key to your success!) with online forex exchange trading or simple, FX. So here they are:
How to become a successfully currency forex online trading expert
The 5 basic rules
1. Never trade with money you can not afford to loose. Never!
2. At no time, you should be invested with more than 3% of your account balance, your Stop/Loss has to secure 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. Only switch to real or live trading after a minimum of one month profitable trading (should be at least 20 trades, the more, the better).
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’s always best to take 1/3 to 1/2 out and let the rest run for further growth.
To go ahead an start a successful forex trading business, 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. The case is that you have to test many of these automated fx systems only to come close to one that might be profitable in the long run. I have to stress this out. Sure, everyone claims to have one that is profitable and will make you tons of money, but the reality can be very sobering. To take a bull by the horns, after tweaking and testing 75 automated FX online trading systems, I was completly shocked that 98% of them are not making any money. In fact some of them would burn your capital in a firestorm.
The MT4 Platform is commenly used for the majority of the automated FX Trading Software Systems. 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.
You can find tons of material on that subject 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. If an EA is only advertised with “back tests”, it is nothing you should spend your time and money on. 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. The robot should be easy to use with predefined settings with an integrated update service. Let’s get straight to it: Only work with a system that is already profitable. No Optimization from your side should be required.
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.
Jazz Funk – Sea Level – Fifty Four
