You are going to look stupid and lose if you read a lot of the rubbish written online, you can trade with some losses here and there or no losses but even the best foreign exchange trading strategies, will lose for weeks on end. You can face losses and the market making you look stupid - are you ready to handle this and stay on course?
Automated forex trading has certain advantages in that you can simply follow trade signals that are generated and providing you can execute them with discipline and the your system is logical and robust you can pile up big gains. Before we look at how to make profits with automated for trading software, lets look at how NOT to do it.
You probably can't think of a data point, back-test, trading strategy or just about anything else related to forex trading that MetaTrader can't help you learn more about. MetaTrader is like a set of encyclopedias for forex traders with more tips and tricks than you can conceive of. And forex robots may just be the icing on the MetaTrader cake.
Isn’t it great to receive good returns by doing practically nothing? Isn’t it great to set up the program that can trade 24/7 and generate good income for you? The idea behind Forex robots or EAs (Expert Advisors) is that computers can do some work more efficiently and without typical human errors. Needless to say that robots never feel tiredness and they can work 24 hours a day 7 days a week. The big question is, will you trust a robot when it comes to your investments? Let’s take a closer look at automated Forex trading robots!
The daily ‘turnover’ of trade volume, speaking in U.S. dollars, is of the order of trillions. The main actors involved in these businesses are: banks governments of other speculators, financial markets and institutions (eg, brokers) Now one of the first things you must understand is that these institutions are not all on an equal footing with each other.
If you are looking for a separate business and if you are not having any idea of how to do it and how well to do it, you can better stop thinking about it and make a shift to the Internet marketing businesses which would fetch you a large amount of money as such. The most sought after business called as the forex trading has been taking a toll on many people`s minds and has been making many get the most of the money flowing into the account. What does one require to start a forex business? Really nothing! You just need to know the name of the currencies you would be trading and start with the business forex.
The different challenges posed by the profitable yet unpredictable foreign exchange market can be quite overwhelming for many newcomers. Many investors who are just starting out in this market often find it complicated and too fast-paced for them. In fact, there are even some who are easily daunted by the amount of investment they need to put in so they can actually start spinning their foreign exchange venture. If you are interested in participating in this very attractive market, it helps that you start with a mini forex trading so you can have a feel of how it is like to trade in the market without having to make big mistakes that would be difficult to bounce back from.
After three months of competing for the safest trading Forex robot, Sienna, an automated Forex trading system designed by CTSFOREX.COM, has been announced the eighth best Forex robot in the world.
Considering that over 400 participants from 40 countries participated in the competition, this feat is an extraordinary achievement. Sienna managed a ratio of 13.55 risk adjusted rate of return and could convert the starting capital of $250,000 to $271,202 with a return of 8.48% after 3 months – approximately 34% per annum.
Online Forex Broker FOREXYARD forges ahead with an ever widening array of products by launching its FSA (Forex Strategy Automator) account. The new product is more than just a new account type. It allows traders to choose pre-made strategies to trade on their behalf, essentially Forex Automatic Trading. Basically, where once a user would need to go through the steps of learning all there was to learn about forex trading, customers now need only choose a strategy that suits his or her needs and desires and the rest is automated. The technology is also revolutionary for experienced traders, allowing them to diversify their portfolios. The technology is completely web based, requires no download, and can be used on any computer or browser type.
Currensee Inc. ('http://www.currensee.com'), the first Forex trading social network connecting traders from around the world based on real-time trades, today announced the availability of its Universal MetaTrader Bridge capability to support all Forex brokers who use the MetaTrader 4 (MT4) Trading Platform.
MT4, one of the few open, server-based automated trading software platforms, was developed by MetaQuotes Software Corporation and is leveraged by hundreds of Forex brokers around the world and used by thousands of Forex traders. This important step enables Currensee to welcome all traders who use the MT4 platform to join the Currensee trader network.
If you've been grappling with the forex market for some time now, no doubt you've come to realize that its movements are mysterious to say the least. It fails to conform, especially to technical indicators. Over the three years or so that I've been trading it, I've come to believe that all of the indicators available (the thousands of indicators) are mostly useless.
The first of the summer holiday travellers are beginning to feel the pinch on their wallet as they arrange to transfer the holiday spending money into a different currency.
Pounds to Euros… Dollars to Pounds… Dollars to Euros… These currencies especially are feeling the bite from the poor state of the economy. Holidaymakers will not be getting a good deal as in previous years. As much we see the headlines and bulletins about the bad state of our currencies, we ignore the reports as they are not immediately affecting us. Then… it will come as a shock as we go to exchange our hard-earned cash into our destination currency.
The US based Enterra is one of the premiere software companies offering a wide range of software solutions and applications along with web development services. Enterra is well known throughout the US and Europe for being a highly successful company offering state of the art business software solutions to the Forex trading community and for having an excellent track record for their now already famous web development services. Being the result of extensive application development and research, Enterra Forex Star EA 3.5 for DUKASCOPY is a fully automated Forex robot that promises more than 5464% equity for 348 days of trading. You can review these numbers and more over at Onix Trade.
As most of you will know, Metatrader 4 (MT4) is the most widely used "off the shelf" platform in the Forex and CFD markets. It is expected therefore that when MT5 takes over from MT4 it will be as widely used.
Metaquotes, the owners and developers of MT4 claim to have 100s of brokerage companies around the world utilising their MT4 platform. Most major brokers now offer MT4 either as their core platform offering or alongside their in house proprietary platform. The reality is, that these brokers don't want to offer MT4 - it is a very difficult platform from the dealing and "back end" side.
Nowadays Internet became a big business where people make big money. Some people know how to earn huge profits, others just starting to find ways to make profit online. Everybody knows that every business requires some investments however it is very important to know how to invest online and where to invest in order to be in profit.
If you have been considering trading or is already executing trades in the Forex market, it only makes perfect sense to have the best forex software on your side. This is because it is the secret trading tool that separatessuccessful traders from those who fail or just getting by trading in forex trading.
One of the best ways to maximize your success in the foreign currency exchange market is to include the use of Forex signal software. This tool collects and reports analysis of tradable currency pairs to help determine their potential for high profits. The depth of information provided depends on the software; the more expensive the software, the more detailed the reports. The most sophisticated Forex signal software can be very expensive so it is recommended to choose signal software that you can easily follow in order to make the most cost effective decision.
With the appearance of the powerful forex robot, the traders began to be very frenzy about it. All the traders that consider employing a forex robot will have great benefits for their business. This happens because they promise that you will make money by doing virtually nothing. The forex robot reviews that you can read online will demonstrate you this. The forex robot reviews are written by people who know a lot about Forex and they will show you that you can make good money with Forex.
The idea of using a Forex or FX robot to automatically trade and make money in the currency exchange market is very tempting. Although they are not the magic bullet, they can make money, if you choose a good one. So what makes a good FX robot?
The Forex market can be intimidating and confusing if you are a beginner. Experts and gurus have spent years acquiring experience and knowledge by making expensive mistakes. If you are venturing into forex for the first time, it's almost a guarantee that you will lose money. You may lack the knowledge and skills to make profitable trades.
Article from Mark Larsen an independent Forex System Reviews.
FAPTurbo was released 25th November and made a huge buzz over the internet. No wonder as seems it is a really first money trading robot, the product we all so expected for a long time among all the crap that is popping up on the market every single day.
See Mark Larsen video report and review his FAPTurbo live trading statement. Click Here. Let the numbers speak for themselves.
Charles A. Floyd from FAP-Winner.com has issues Special FAPTurbo Settings Report with his own settings and strategy. Added FAPTurbo to FAP-Winner.com portfolio and discussions and started FAPTurbo mentoring class.
Mark Larsen video update with his recent results.
Congratulations to FAPTurbo developers! This robot won the world Forex Robot contest. Quote: "The first to cross the finish line of this, the 3rd world contest of automatic trading, was FAPTurbo. This forex robot was the undisputed winner of the 3rd contest since its beginning. An extraordinary 62.2% equity increase was reached with this robot becoming the new highest ever equity growth in our live competition."
New FAPTurbo version 47 was released! Mark Larsen made a few quick tests and it looks awesome!
FAPTurbo robot has become so popular and profitable that every scammer dreams of cloning it. There was a huge number of scam clones created recently. Read FAPTturbo scam clones report. Beware of the clones!
Rob Casey has developed a detailed FAPTurbo guide which is worth reading. It is not free however if you are serious of making money on FAPTurbo it is worth it. Read FAPTurbo Expert Guide.
Deciding for an automated Forex trading system, best known as FX Robots, is all about two important things:
- Costumer trading needs.
- Robot’s compatibility with desired Broker.
Thousands of people every day trade on the worlds stock markets, with the majority now using software to aid them, but does it help them make more money?
This software is known as a ‘bot’, short for robot, but it is only ever as good as the user. If the user does not know how to trade successfully on his own in the first place then he is unlikely to get instant profit from a bot. New users have to understand that it will take weeks to learn how to use a bot correctly.
I use the ‘new’ bots on the block on a daily basis. Any professional trader should at least be aware of the existence of betting exchanges, and the fact they can turn over $Millions per horse race within a few minutes, and with the betting exchange allowing you to back (buy), and lay (sell) a horses odds, many new traders are springing up to take advantage of this with the use of betting bots. And the best thing is, you do not need any knowledge of the sport you are trading in. You can also trade on the majority of the worlds financial markets, such as the FTSE, NASDQ, etc, as well as currencies.
So are these new bots a license to print money? Depending on which one you use, as some are useless, and will see you lose money faster than if you were using a pin, but others stand out, and are put together by professional stock market traders. It is these bots that have the potential to make you money, and if handled correctly, plenty of it.
Most of the bots on sale focus on one aspect, whether it is trading, arbing, hedging or dutching, but there are a small number that focus on them all, and compared to the single function bots, are much better value for money. These multi-function bots allow you to find your niche in a competitive market, without emptying your bank balance.
It is also a misconception that you will start making a lot of money instantly. Even if the bot produced profits on a daily basis (which by the way, will never happen), you still have to limit trades to a fixed percentage of your betting bank, otherwise you will find yourself having no control over trading stakes. It is always best to start small, get the mistakes out of the way while it is cheap to do so, and when your stakes increase, you will have learnt enough from your mistakes to save money.
Some people click with trading straight away, others it can take weeks of staring at the graphs on the screen until the penny drops. Those that stick with it though, usually succeed, and a bot makes life so much easier.
So if you have the capabilities to profit from trading, then a betting bot may be for you, if you are looking for a quick buck, forget it.
For information about the best trading bot currently available on the market visit Best Forex Robots Review
Forex Robot software is popular but very few traders win with a robot, here we will look at the main reasons why and how to find a Forex trading system that wins...
Forex Robots fail in real time trading because the vast majority are based on unsound logic and have never made any money in real time trading sure, the track records says they have but look a little closer and you will see the reality which is:
The track record is a simulation in hindsight or presented by the vendor with no independent verification.
The claims are extraordinary and are obviously not true:
Double your money each month, little or no drawdown, trade with over 90% accuracy etc and you can get access to these systems (which beat the best traders in the world) for the cost of a night out.
If you listen to the sales copy, you have to make no effort and simply make money while you sleep. Common sense tells you these systems don't work, they simply look to good to be true and they are.
Now I am not saying you cannot make money with automated Forex software because you can - but let's look at the reality of trading robots and leave the fantasy behind.
The reality is there are some good solid programs you can use which have made real gains and the best normally make about 50 - 100% per annum with drawdown being around 20 - 50% depending on the risk profile of the system and a typical drawdown period will last for a few weeks.
So great long term gains, if you can ride out short term drawdown with discipline.
So if you buy a Forex trading system, look for real gains and check the logic so you can follow it with discipline.
As far as I know there are no awards for Forex robots…so finding the best award winning Forex robots could be a bit on the difficult side. If you really want a find the best Forex robots here are a few tips that can help you.
The very first thing you can do is to search the Web and you can should actually type in “best Forex robot”. You’ll see lots of different websites pop up, some of them review sites and some of them actually selling Forex robots. This is when you’re going to put on your hat as a skeptic and take everything you read with a grain of salt.
The reason you need to put on your skeptic hat is because unfortunately the vast majority of Forex robots are hyped up way beyond their actual performance results. One reason they can easily do this and get away with it is because beginning Forex traders don’t have much of an idea of what types of claims are or are not realistic. So someone could easily say to you that they will sell you a Forex robot for $97 that is 100% accurate. That sounds great on the surface if you’ve never traded Forex before you may even think that obtaining 100% winning trades is actually possible in real trading.
There are number of different types of Forex trading software. Trading software can do anything from help you design your own trading system to automatically place your trades for you.
Here’s a brief outline of the different types of trading software and what they are used for:
Forex Trading Platform – Your trading platform is the interface between you and your broker. Trading platform software is what makes online Forex trading possible. Forex trading platform software is downloaded from your Forex broker’s website for you to install on your computer. Once your account is open and funded you will be able to place trades directly from your computer. This is one of the greatest things about Forex trading as you can trade from anywhere in the world that has a reliable Internet connection.
Forex System Development Software – System development software is used by traders wishing to develop their own Forex trading systems. Development software allows a trader to test their trading ideas by using historical data. This process is called back testing and is very useful for seeing how a particular trading idea might have performed in the past.
Forex Robots – A Forex robots already has a Forex trading system programmed inside of it. It is called a robot because it automatically generate Forex signals for the trader without human intervention. When interfaced with a compatible Forex trading platform a Forex robot can place trades automatically. This is the ultimate in Forex trading automation. Keep in mind that before you attempt to allow a Forex robots to trade for you automatically you should thoroughly test and observe it in a demo account without having any real money at risk Once you are absolutely confident that it performs as it should then you can have it trade in your live funded account.
Forex System Software – Forex system software is similar to a Forex robot in that it generates Forex signals for the trader. The software can be used standalone and generates signals which the trader can then manually place using their Forex trading platform.
As you can see Forex trading software can definitely make life more convenient for the Forex trader. In the case of Forex robots and Forex system software, make certain that you investigate them thoroughly before your purchase. It is this type of trading software that can mean the difference between success and failure in Forex trading.
As the years go by, Forex Market trading has become more and more automated. Maybe you've noticed the many Forex Robots on the market these days. I sometimes grow weary of all the claims I get in my email inbox proclaiming the latest Forex Robot that will put you on easy street.
Although there are quite a few Forex Scams out there, I found through searching the Internet, in Forum discussions, and in technical journals some pretty convincing evidence that not all Forex Robots are created equal. There are a few Forex Robots that are proving themselves trading in the currency market and creating an impressive percentage of wins to losses.
The things that stood out to me about these effective Robots was the fact that they had all been rigorously back-traded, the longest was back-tested for 9 years and made over 9000 trades. They were also tested in live trading with some of them producing 85 to 100 % wins! Since the Forex Robot is fully automated, it can trade for you 24/7.
The key to winning long term with a Forex Robot is to make a small gain everyday. Your goal is to steadily increase your profits for excellent long term gains. Make sure you do your homework when you're looking for a Forex Robot. It should be technically easy to use and monitor and be backed by a group of professional traders who will be there for you 24/7 if you have any technical questions.
An effective Forex Robot can greatly enhance anyone's trading profitability, and bring about long term profitability.
A Forex robots success or failure is dependent on the algorithm or rules, it uses for making trading signals. By looking at the rules, you can see which ones are likely to make money, here are some simple tips to find the best. Every Forex robot you see promoted claims to make money but the simple fact is most don't and will wipe your equity out. Why? Because the rules they use to trade are based on unsound logic. The first points to keep in mind are these.
Forget sophisticated mathematical formulas, to predict prices - they don't work and never will. Forex markets don't move to mathematics they move to the odds so complex theories lead to losses furthermore, there is no system that can predict the future. Ignore any system that claims it is predictive and move onto the next one. Generally the fewer the rules the trading system contains the better. So don't think simple systems don't work they do, as they are very robust and a system that's to complicated will simply break.
Now let's look at some other ways to spot good Forex Robot.
Does the system have an independent track record or is it simply a back test? If it is a simulated back test, then all this means is that the vendor has bent his rules to fit historical data to make a profit. These fail miserably in real time as you can't bend going forward.
Is it short term trading system? If it is avoid it. It won't work because all short term movements are random and no day trading or scalping system will make money.
Check that all Markets are traded with Same Rules? If there not and you have unique rules for different markets and conditions, chances are it's a bent to fit system, that has simulated track record and should be avoided.
A simple Forex Robot can be the best robot and it should trade ALL markets in the same way and trade them long term. Most Forex robots you see claim to be mathematical, predictive and complicated which is not a good sign! Stick to the ones that have a real time track record to back up what they claim and never trust a back tested simulation. Look around and you will find the right automated Forex robot which can lead you to long term success.
In today's competitive world, it seems almost impossible to wade through the hype and aggressive sales pitches when we start looking for products and services to purchase that we hope will enhance our lifestyles. It's no different in the world of Automated Forex Robots. If you're like me, you probably get at least one advertisement a day in your email inbox promoting the next "million dollar" Forex software.
If you're thinking about trading the Forex market and you've been looking around for a way to automate at least part of the process, you may be wondering how to tell if an advertised Forex Robot will help you trade profitably or not. Not all Forex Robots are created equal. Many of these Forex Robots are down right scams.
Before you jump in and buy the latest Forex Robot, here are a few things you'll want to look for in a Robot that will trade profitably for you.
- Make sure the robot you are looking at is designed and backed by professional traders.
- Look for an automated system that is relatively easy to understand and has good tutorials.
- Choose from Web-based or desktop based software. If you're on the road a lot, and you're using a computer that is not your own, you'll want to choose a Web-based system.
- A good Forex Trading Robot should come with a Demo account so you can familiarize yourself with the trading process before making any real trades.
- The Company you buy from should offer you 24/7 support.
- Always check what kind of security comes with the software. To prevent access to hackers it should include 128-bit SSL encryption.
- Ensure that the Forex Robot you are buying has at least a 60 day Guarantee.
The Forex market is HUGE. The opportunities for the novice to trade profitably have never been better. With an effective Forex Robot automating the trading process, the chances of creating a decent monthly income overtime is greatly increased.
When choosing a Forex Robot, there is one point you should check to see if it is likely to make gains and if you do you will get rid of the vast majority of Forex robots that lose money.
What you need to do is look at the track record and see if it's real and it's a fact that most Forex Robots do not have a real track record of gains. All they have is a back tested, simulated track record over historical data. This means they can buy and sell where they want to (and they do) and make a profit!
Of course in the real world going forward, you don't know the closing price in advance and these Forex robots lose money quickly. There are some robots that put out (what they claim) are real results but these should be treated with extreme caution, as there never independently audited.
Of course, the only way the automated system traders can come up with track records that beat the world's best fund managers for $100 is to make them up. It's pretty obvious that if you could pay a couple of hundred dollars and double your money each month, there would be no credit crunch, as the whole world would be trading and making a fortune!
There are some automated Forex trading systems that make money but they are a minority. They do have good solid track records and don't make the ridiculous claims that the Forex Robot vendors do and these systems are a good choice. Take a look at them and you will find some good ones with real, solid long term track records.
As each day passes, you seem to hear more and more about the forex market. With its popularity, you are seeing more and more forex reviews for different strategy developments. One of the more prominent ones that are being reviewed are automated forex trading. These signals are generated by robots or software that alert you to both buy and sell strategies.
Believe it or not, automated forex signals seem to be getting the bulk of the press in this ever expanding market. Unfortunately, a lot of the press they seem to be getting is a negative tilt and that is not actually a fair characterization of this forex trading software.
These signals seemed to be getting lumped into the same category of these guys that are selling the get rich quick schemes for getting real estate for free and things like note purchasing. Why would anyone want to put out valuable information like this if they were actually making a profit with it themselves? It is only normal to conclude that having more people in on trades would mean less profit as the market would catch up with the situation much quicker and there would be less of a profit window.
As with any business, where there is legitimacy, there are people looking to take advantage and cash in on a quick buck. There are actually several trading signals available that are quite good. The problem comes from these fly by night guys who are trying to make a quick buck and not testing their signals adequately before putting them out on the market.
Some of these "forex autopilot" websites make some bogus claims, use fanciful graphics and the next thing you know, they are the most popular product on the market. When companies like this produces unsuccessful trades, the entire niche gets hit with a label of being a fraud even though there are actually some proven models in existence.
However, no matter how good the forex signals are, you should never rely on only one tool to decide when and how you trade. You should be looking at several exit and entrance strategies along with developing your own sound model for trading. Putting all of these together can produce a profitable forex trading system.
As you are checking out different automated forex trading systems, keep in mind that the perfect system to produce a profit each and every time does not exist. If it did, everyone would have it and everyone would be making tons of cash. You have to have a solid investment plan and utilize these signals as a way to make you aware of situations. No one person if infallible and neither is a forex trading system. Find one that can be incorporated into your own system well and you will become a successful trader.
When it comes to forex trading systems, You have many options.It is very important to choose the right trading system which suits for you.
So how do you find the right system?
Well, first you must understand the methods of analysis that are used when you negotiate on the currency market Forex. Once you know the tools and how to use them, you can analyze what is best for you.
Some of the most popular tools of technical analysis are the pivots of the Fibonacci retracements, analysis charts, candlestick type analysis, trade balances, interest rates, and GDP, which is synonymous gross domestic product.
You will need to determine the profitability of the forex transaction system that you plan to choose. Use a demo in real time to determine the profitability of a trading system. This allows you to begin to understand what are the capabilities of the system, and also allows you familiar with the trading platform.
Then you need to take a look at the hope that tells you what kind of profits you expect to make over a period of time. We calculate the expectation using this simple formula:
(Probability of winning × average earnings) - (probability of loss x average loss) = the average profit per transaction. If this number is a negative number, you must turn to another exchange system on the Forex. Of course, the higher the number, the higher you can expect good profits.
You should also consider whether the factor which represents how often you plan to use the exchange system for your trade. Multiply the figure obtained for the hope and opportunity for granted, the result will tell you what you can expect to profit during a period of time. Plus the opportunity, the higher you can expect to put profits in your pocket.
Now you know how to choose the right system of transactions in the Forex for you to reap the most profitability.
Forex robots are nothing more than automated software that will search for profitable trades and then make your currency trades for you based upon their particular design specifications. I cannot really say how they work but they are reported to be based upon specific algorithms.
Not all forex robots work the same. Some are designed differently then others. It all depends upon how they were constructed and who made them. I would highly recommend that you do a great deal of due diligence when selecting a forex robot. For experienced traders a forex robot can help by removing the fear or psychological stress of physically make your own trades.
Before you begin your search for a forex robot, lay out or map out in your mind what you want your particular robot to do for you. Most people want there robot to do everything except tie there shoelaces. If you are a beginner most beginners look for a forex robot that will find trades that appear profitable and then make there trades for them. Being that the forex market is so volatile many people swear by the benefits of forex robots. After you have fiqured out your needs, then simply search for the appropriate forex robot.
Here are 11 Tips on what to look for when Selecting a Forex Robot:
- Look for review sites and forex forums and discussion groups. Look to see how your robot stacks up against other robots.
- Does the robot, software or the company allow you to, or suggest how you may begin with a small trading account? This way your losses if any will be minimized.
- Does the company offer a benefits comparison chart?
- Does the company have a good FAQ page to explain anything that may come up? This shows that the company has thought out the process.
- How is the customer service for the company set up? Does it appear to be thorough and reachable?
- Does the company offer paper trading so that you can test the robot software system to ensure that it really works as advertized?
- Also make sure that the software works with live trading. Most good robots will offer proof of live trading success.
- Make sure that the company offers a good return policy. You should be looking for at least a 60 day money back guarantee. This should give you ample time to check out the software system.
- Look for the buzz. If you read a lot of good publicity about a particular software and there's a lot of good chatter going on then chances are it is a good robot.
- Also look for video testimonials as opposed to written testimonials. If they have both that's good too. Remember seeing is believing and it is a lot harder to get multiple skilled actors to lie on a video. If they look like ordinary people (non actors) and have good things to say, then chances are the software is a good piece of software and the testimonials are more than likely legitimate.
- And as a bonus tip, does the company offer a loss prevention facet integrated within their forex robots?
This technological marvel is actually a virtual robot used to handle the Forex accounts. One does not have to enroll in some financial class to learn the skill in Forex trading. The robot takes charge of all the trading round the clock for you. Hence you actually do not miss any trading that brings you money. The Forex robot does this when you are busy with some other works as the robot monitors all the trading status.
The automated Forex Robot is available could be bought for a price of around hundred bucks, though the returns that accrue are higher compared to the investment made. You can also try out the free demo account to know about the product in detail. If one is not satisfied with the product there is a 60 day guarantee period, within which the product can be returned and get the money back.
There is an increase usage of auto foreign trading in the exchange market. This is so as the method used is more accurate and the reliability is equally good. All these could be availed as you do other important work. It is wise to get one for you and be in sync with the technological advances.
There are three things that must be considered while looking for automated forex trading software. These are Accuracy, Ease of Use and Customer Service.
With an Accurate Signal Generator, one can make lots of money if the machine is used correctly. The generator can be used to predict the result of certain forex pairs in future after an analysis of the trends as well as shifts taking place in the market. Hence, one must try to get the best signal generator available in the market. Most of the publishers of software also provide free updates on a regular basis after the purchase of the software. This helps in getting precise tips on the market trend. It is advisable to read some comparison reviews before buying one for you.
The Ease of Use means to know the ease with which the program could be used. This could be learnt from the website of the publisher. One must look for the user friendliness of the software. The software must have an accurate signal generator along with basic stop loss. It must also take the profit features of Forex trading.
The Customer Service of the software company could be determined by sending an e-mail to them and look for the response time. Normally, the response time could be between 1 to 3 hours. This is also a reflection of the reputation of the company for being concerned about your business and the way they keep the customer happy. Again, though there will not be any problem with the program, however, if some problem does crop up, you can be sure that your comment and complaint will be swiftly dealt with in an effective manner.
In the past, Forex brokers were the only means via which a Forex trader could manage his account, but nowadays, Forex traders can manage their accounts through smart software called Forex trading robots. There are a number of things that a trading robot can do. It helps to control your account while you sleep, that means you do not have to be there. And it makes decisions based on your preset margin input so that you don’t even have to monitor the trading.
There are a number of reasons why a Forex trader should make use of a robot, first of all, it affords the trader so much ease that you do not have to sit behind your computer all the time, the software works while you are offline, all you need to do is to provide a set of instructions or variables for it to work with and then you can entrust it with the analysis and monitoring of all different trends. It then makes decisions based on the entered variables.
To succeed in this age, one has to keep abreast of events. It could be herculean to gather all the information necessary manually and make splendid decisions that would rake in profits. This is where Forex robots come in handy, they do it with ease.
Forex robots can help to double income and make good profits without hassles, as this is the reason why we make investments. Even though it requires that you have some little knowledge about Forex trading, it is definitely worth it because the robots make decisions on variables to maximize profits and no human emotions are mixed in.
Robot are immune to “gut feeling” that makes traders change their mind when they are about to make a trade. A decision that might rake in a lot of money for them. Forex trading robots are consistent, a trait that is hard to maintain as a human. Forex traders intend to carry out sales at a point, but change their mind at the last minute; a robot keeps its “word” consistently.
As humans, we cannot stay open eyed with the computer to monitor trends for 24 hours at a stretch. The Forex market is not like the stock market which closes each day to reopen the next day. The Forex trading market goes on for 24 hours, which means while you are asleep (we all need our sleep), decisions have to be made, and while you are not there the robot makes them for you.
The Forex trading robots made today are more user friendly, operating system friendly and sophisticated, much more refined than previous robots. They are much easier to use allow an unsophisticated user to make more profit. Trading robots are also capable of analyzing more difficult trends that a team of seasoned human traders might have difficulty contending with.
Instead of slugging it out with trends and getting deprived of much needed rest, it does a lot of good to a Forex trader to make use of this kind of technology, since it is available to everyone. Besides, Forex robots have been tested and proven to work leaving the person to make the long term decisions rather than focusing on short term trading variables.
Forex trading robots are popular, the theory is you can simply plug and go then sit back make money and let the trading system do the work for you. It's a great idea and you can make money but you need to consider the vital points below to win.
Most forex trading robots have one vital flaw - they have never been tested real time and never actually made any profits! Forget the clever enticing advertising copy these systems will wipe your equity quickly. Look for the disclaimer below (or similar one) and you will see what I mean.
Look for This disclaimer and ignore the System!
"CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading....Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown"
Of course after reading this you will see why they don't work and the odds are stacked against you. Would you trust a driving instructor who couldn't drive? Well thousands of forex traders trust vendors who have never traded. These forex trading systems have all been tested knowing the past price history and the track record is simply a simulation on paper and I wouldn't trust it and neither should you.
Find one With a Real Time Track Record and ...
Make sure you understand how and why it works and you are confident in its ability to deliver forex trading profits longer term. If you don't, you won't have the discipline to follow it through periods of losses and stick with it through these periods of drawdown to make longer term gains. Keep in mind that if you don't have the discipline to follow your currency trading system - you may as well not have one!
If you want one with a great record of success long term check out Richard Donchians 4 Week Rule, we have written on this frequently and its Keep in mind the above system is free and you can use it as you wish and it has been the basis for many a successful trading system.
A Forex trading system with a real time track record doesn't come cheap and you're looking to pay in the region of at least $1 - 2,000 upwards in price, so the 4 Week Rule which will out perform most sold robots anyway and is a great place to start and of course it's free.
Robots are programmed by Humans!
There is this image that a robot works on its own but it can only work within the limitations of the programmer. Humans think robots can think for themselves like some robot from Star Trek (but this is rubbish the markets have to many variables) and a forex trading system can only react not think independently. While they are programmed by humans, this doesn't mean they can't be successful they can - but there not perfect.
ALL Forex trading robots will lose for periods of time that's life but this doesn't mean to say they can't make profits over the long term, they can but you must be patient and disciplined.
The right forex trading robot can and will make you money. Just keep in mind there not perfect and you will need to have confidence in the logic of them, to follow them to long term currency trading success.
Get the right one and follow it with discipline though and you could make a lot of money.
In today's competitive world, it seems almost impossible to wade through the hype and aggressive sales pitches when we start looking for products and services to purchase that we hope will enhance our lifestyles.
It's no different in the world of Automated Forex Robots. If you're like me, you probably get at least one advertisement a day in your email inbox promoting the next "million dollar" Forex software.
If you're thinking about trading the Forex market and you've been looking around for a way to automate at least part of the process, you may be wondering how to tell if an advertised Forex Robot will help you trade profitably or not.
Not all Forex Robots are created equal. Many of these Forex Robots are down right scams.
Before you jump in and buy the latest Forex Robot, here are a few things you'll want to look for in a Robot that will trade profitably for you.
- Make sure the robot you are looking at is designed and backed by professional traders.
- Look for an automated system that is relatively easy to understand and has good tutorials.
- Choose from Web-based or desktop based software. If you're on the road a lot, and you're using a computer that is not your own, you'll want to choose a Web-based system.
- A good Forex Trading Robot should come with a Demo account so you can familiarize yourself with the trading process before making any real trades.
- The Company you buy from should offer you 24/7 support.
- Always check what kind of security comes with the software. To prevent access to hackers it should include 128-bit SSL encryption.
- Ensure that the Forex Robot you are buying has at least a 60 day Guarantee.
The Forex market is HUGE. The opportunities for the novice to trade profitably have never been better. With an effective Forex Robot automating the trading process, the chances of creating a decent monthly income overtime is greatly increased.
Advantages of Forex Robot Software
Forex robot is basically the software that will aid in calculating and analyzing the market trends. There are some common features that the software has such as predicting the possible short-term trends and automating generation of buying and selling signals by using candlestick indicator. In practical terms, the forex robot software is highly reliable and gives frequent updates without any mathematical error.
Forex robot is an Expert Advisor, this "robot" beat humans at chess and they beat humans at trading. Forex robot will watch the market for you, placing trades under certain parameters, avoiding fear, greed, lack of confidence and inconsistency which characterises most traders. It simply exists to follow a predetermined trading strategy and it absolutely will not deviate from that objective running 24 hours a day for you.
Currently automated forex trading is setting the trend of the time. In this type of forex trading, forex robot with its automated forex trading capability have come to the rescue of an average person who has interested in investing money in the forex market but is unfortunately not able to do so due to paucity of time. The phenomenon of forex robot has gained momentum within a short span of time and today almost every forex trader is going for one or the other kind of forex robot system that can enable them to make big money without any hassles.
There are varied kinds of forex robot systems available online. Some of them are offered for free while others are chargeable. The two most commonly used forex robot systems are desktop based systems and web based systems. The first one is not very popular as there are some limitations associated with its use. Since the entire data is stored in the computer, it is highly prone to virus attack. Also, this system is likely to face some security issues. If a problem crops up in the computer, it is tough to retrieve the data. On the contrary, web based forex system is hosted on highly secure servers and thus there is greater reliability. It can be accessed from any computer having internet connection and is compatible with almost every internet browser.
Is forex robot really necessary?
At times people depend entirely on software for all the trading purposes, which is the most common mistake. Moreover, the traders don't even monitor this software and think that there is continuous roll in of the money. But this is a very wrong way of trading as the software can trade only as per the trend and also depicts the fluctuations in the market. So, it does not work automatically but needs to be updated. It is therefore better to monitor the software properly and review the current charts and the news for market trend. Always opt for a forex robot that can best meet your personal requirements. Just keep on doing research until and unless you come to know about several forex robot software and then your moto should be to find out the one that can work best for you. Look for forex robot software that have been tested time and again and are know to bring in fruitful results.
The Future of Forex Robot Software
It is expected that we'll see a lot more forex robot software coming up to ease the process of forex trading further. With the high popularity of forex robot, more and more people are now entering into the lucrative market of forex to make money. Since everything is done automatically, you don't need to devote any time to do the trading. Your part of job will now be done by the forex robot.
Forex robot software is quite reliable and helpful in trading the foreign exchange but you should always keep in mind that software is after all software and you should only make use of it, but not depend on it. In the contemporary time, more and more people are becoming aware of the benefits of using forex robot systems. The future of trading is to look to the forex robot that can automate your trading. Forex robot have brought about a revolution and enabled people to indulge in forex trading far more easily than was possible earlier. Forex robot software have a bright future.
If you are thinking of buying Forex Robot then you are probably already aware of the potential money making opportunities of the forex market. For the small investor in these difficult times, developing additional, or multiple, income streams would seem to be a wise decision. For small investors beginning to explore the forex market a forex trading program can also be a great help in learning to understand how the market works. The fact is forex market trends are highly complex by their very nature. Successful traders concentrate on longer term trends and accept that there can be short term reversals of fortune The trouble is for less experienced traders, the emotional responses can cloud your judgement causing you to deal badly with such reversals, or hold on longer than you intended when you see things going your way, only to lose your gains at the last minute.
A Forex Robot has no such emotions and will only react according to your intentions when establishing the trade. This is one of the key benefits for people trading on Forex from home. A second major benefit is the complexity of the algorithms that the Forex Robot uses to analyse the markets and the speed with which it calculates them. Third is the ease with which forex trading software can gather together all of the information you need in order to decide on your trades, and remember, Forex is a 24 hour market. For those of you who are just beginning to explore the forex market to decide whether to invest your time and money, a Forex Robot may be the perfect way to help you decide.
Forex Robot Software is now relatively inexpensive, in fact much cheaper than the losses on a single trade can be. Most programs have the ability for you to practise in real time without exposing yourself financially. So that when you have learnt how it works you can go live with confidence. For many, the only way to find out if these programs work is to try them. Many come with a 60-day - 100% satisfaction guarantee, so, investing in a Forex Robot Software could be a wise investment. The forex markets are completely accessible to the smaller investor working from home. Access is easily available via the Internet and the stake required is very modest. Add to that the fact that while your financial risk is limited to the amount you wish to trade, the amount of profit you could make is unlimited. This is because in forex trading your gains are effectively multiplied by 100, so a 0.5% gain from one currency to another results in a 50% gain on your investment. Forex Trading Software has become so affordable for the small home trader that it is an investment many of us can now make. And, the advanced functionality of these programs means that they can also help to increase our understanding of this complex but highly lucrative market.
In today's world all of our lives are being enhanced due to the rapid development of hardware and software. The Forex markets are witnessing the same phenomena with an ever increasing quantity of trades being undertaken by automatic forex trading systems or Forex Robots. Unlike the stock markets, the forex is seeing a noteworthy increase in the use of automated trading systems by the individual investor. This is primarily due to the fact it is significantly easier to program a profitable forex trading system than it is to program a money-making stock trading system. Today there are numerous commercial Forex Robots in the markets. As long as you purchase a top tier system you will be acquiring a software package that has been tried and tested to produce gains reliably. The systems are relatively inexpensive usually running in the range of one hundred US dollars. Taken into consideration the amount of profits they are able to generate, one could easily state they are one of the true values sold anywhere regardless of the product.
Forex Robots have many benefits, some of the benefits are explain below:
- With forex robot, you are not required to do the actual trading yourself which means you are not putting in a great deal of time and are not chained to your computer. This is a huge benefit for many and for most people interested in forex, it is top on their list of benefits. And, for the forex trader who enjoys being tied to the computer trading, it also means he is able to trade through one systems and also be able to trade at the same time trade with a second or third account using an automated platform. But, for those not interested in the
daily grind of trading, they can take care of their primary business and still enjoy forex profits. - Forex robot allow your trades to be made at any time of the day or night, regardless of your presence. With a manual trading platform, some of the profitable trades will be missed when the trader is not able to be at the computer. The nature of automatic trading overcomes this problem and allows profitable trades to take place without any human intervention.
- You also have the option of taking advantage of multiple forex strategies and different systems when you are running your forex trading on auto-pilot. You can trade through many systems with the same automated trading provider or you can choose to operate with more than one provider. Because different systems are designed to be triggered by different indicators, and emphasize different currency pairs, trading through more than one forex robot allows you to diversify your investment, and your risk, and with virtually no additional work on your part.
- Using forex robot eliminates all human emotion that can often interfere with proper and profitable trading decisions. The robot will make sound trading decisions based on a set of rules and indicators that have proven themselves overtime.
- You are able to make trades that would be impossible for one person to be able to keep up with. An individual is only capable of monitoring a few currency pairs at a time, but utilizing an automated system allows you to multiply the number of pairs you can follow and trades you can execute, because it is the sophisticated software that is doing it all for you.
- Must have a success rate of 60% or higher and the system will have the ability to adjust stop losses and targets accordingly to hit it's profit targets. A good forex robot should be built around just a few currencies rather than trying to cater to all major currencies. The reason being, each currency tends to have it's own predictable ranges and movement. It's almost impossible for a forex robot to be able to cater to each currency, therefore the ones that stick to just a few tend to be the most successful.
- Must uses sound money management and never over trades. Though it's good to find systems with a 60% success rate or higher, ultimately proper money management will allow you to maintain consistent returns even if you lose the majority of your trades. How is this possible? Using a risk to reward ration of 3:1 or better. Meaning, if you win 3x the amount you lose, than you can be wrong 40% of the time and still come out a profitable trader in the end.
Below are some tips for Choosing The Right Forex Robot that will allow you to backtest your Forex Trading Strategies:
- You should figure out which type of trading suits you best, discretionary or systems based trading. It could be argued that all techniques can ultimately be considered discretionary so for the sake of this article. Systems trading is defined as any trading style that involves creating computer programs to generate completely automated trading signals. If you are taking trading signals based on visual cues off a chart, then that is discretionary trading. This is important because the forex back testing software you buy must have the capability to test accordingly. If you are a systems trader, the back testing software must give you the ability to write programs and test the system without human intervention. Many times these software packages have their own proprietary programming languages that are easy to learn and implement. Just be sure that the programming language is powerful enough to do what you need it to do. If you are more of a discretionary trader, the forex back testing software needs to have the ability to step through price action candle by candle and place trades manually. This will allow you to see price action unfold just as if you were sitting at your computer and trading live. It is helpful to be able to place and erase trades just by stepping forwards and backwards through the charts.
- Make sure that the indicators you use in your trading technique are in the software or can be easily added. There is nothing more disappointing than buying a piece of back testing software only to find out that you can't do a proper test because one of your key indicators is missing. The forex back testing software you use should have a wide range of frequently used technical indicators. For the more popular software packages, you can usually get indicators online for free by visiting various forex blogs and forums.
- It is very helpful if the forex back testing software gives you the ability to save your testing results for later examination. This allows you to go back and review your trades to find out how you can improve your trading results. Some software packages allow you to export your data to a spreadsheet for more detailed analysis.
- Be sure that you get historical data that is compatible with your software. There are different data formats and certain software packages can only use certain data formats. Check to see that the data you are planning to buy is compatible with the software package you are looking at. Many times you can download a free trial version of the software to test the compatibility of the data. You can buy data from a variety of providers but there are also several great free sources of historical data out there so I would suggest that you try them first. It all depends on your budget. If you subscribe to an online software service, they are usually more expensive but they include historical data for your back testing. If you go with a cheaper software solution, you usually have to use your own data.
- Find out if they have a support phone number or email you can use to contact them in case you have questions or issues with the software. Test them out before you purchase the software to see what kind of service you will be getting.
Also follow the Guidelines below in your Purchasing Process when you have decided which software you want:
- Check the payment processor. First and foremost this will tell you if it is a scam. If the company that the software publisher uses to process you transaction is a reputable provider with a checkable history then you are safe in that respect. Decent processors cannot afford to have scammers use their services. Anything that is sold through Clickbank is reliable and is covered by their 8-week guarantee period.
- Check their results. Always search out and ask for bona fide trading results from the software publisher. Account screen shots and jpegs of entry and exit points of successful trades are useful. Better still look for videos of the actual software in action preferably used with the Metatrader 4 platform in real time. Note the real time price movements as although not impossible will be difficult to fake.
- Check out user comments. As well as the testimonials on the products sales page also check out user feedback from independent sources.
- Check out the price. With so much competition in this market recently the price of forex trading software has been driven down. It is still possible to pay thousands of dollars for a program but most of the packages in the $100 price region work just as well.
- Check out the usability. Check the products specifications and its changeable settings. Even though a decent piece of software will have default setting that you can opt for and leave on, you ought to be able to change a fair amount of them as you wish. You will also want to use your own settings as you mature as a trader and develop your own style.
Visit my website The Best Forex Robots Review to see which Forex Robot is right for you. Good Luck!
If you're new to forex, it's hard to escape the fever that is forex robot. It has quickly become one of the biggest crazes in the trading world.
For people that don't know or understand what forex robots are, they are an automated charting platform that buys and sells in the forex market. This is done based off a parameters that developers set up in the memory of the robot.
For example, many traders have their own personal favorite trading system. It could be based on indicators, price action, or some other trading method.
Obviously, in normal circumstances, traders would have to stay alert and follow the market on their computer or trading platform to see if the certain trading conditions matched the parameters set by their trading system.
These forex robots are automated. Your computer does everything for you, like you were doing everything yourself. With one exception, the robots know when it is a good time to buy and sell a trade. This is done by on parameters that were predetermined by the person who developed the robots.
If you're used to traditional trading methods, it may seem strange to allow a computer to do all the work. But using automated systems has allowed many traders to do the trading they need to succeed while still spending time with their friends and families.
People really never think of a trading forex as profession that takes up a lot of time, they are totally wrong. This is a 24 hour a day job, this can take up a lot of your time.
With these robots, you have more freedom and that is what real traders wish they had.with the same system, you have essentially outsourced all the screen time to an exact duplicate trader, and, since these automated trading systems are essentially trading in the same manner.
The majority of the forex robots being sold can be used on a basic metatrader chart. Don't worry its free. There are a ton of brokers on which you can get a demo of the software.
Once you have a forex robot uploaded to your Metatrader chars, all you have to do is turn it on, and it will start analyzing the markets and make trades for you, whenever the parameters are ready.
With so many different forex robots available in the marketplace, it can be hard to chose the right one. Some have shown great success in short term and long term trades, and then there are some that don't have very good trade records.
Get the right Forex Robot.
If you are in the world of forex trading, you cannot resist to become part of the wave of the future. Get a cutting edge in the trading industry and don't be left behind in the dust. Forex robot are simply trading systems that trade independently according to the rules that a developer has provided.
For example, many traders have their own personal favorite trading system. It could be based on indicators, price action, or some other trading method. In regular circumstances, a real trader would have to constantly monitor their computer or where they do their trading to make sure that all their trades met the conditions that were created in their trading system.
With forex robots, everything becomes automated. The computer does all the work for you, just as if you were following along all the charts. The only difference is that the forex robot will automatically know when to open and close a trade based on parameters set forth by the developer of the forex robot.
You may feel like this is kind of strange, if you are a traditionalist, letting the computer do all the work for you while you just sit there, But tons of people have let the computer trading system do all the work. And not only have they made a lot of money, but they also have a lot more time to do whatever they want to do.
People really never think of a trading forex as profession that takes up a lot of time, they are totally wrong. This is a 24 hour a day job, this can take up a lot of your time. With these robot, you have more freedom and that is what real traders wish they had. Since the computer is doing the same job as a human trader and the computer is using the same system as a real trader, you have created a computer trader and given a computer a job.
The majority of the forex robot being sold can be used on a basic metatrader chart. Don't worry its free. There are a ton of brokers on which you can get a demo of the software. Once you have a forex robot uploaded to your Metatrader chars, all you have to do is turn it on, and it will start analyzing the markets and make trades for you, whenever the parameters are ready.
With so many different forex robots available in the marketplace, it can be hard to chose the right one. Some have shown great success in short term and long term trades, and then there are some that don't have very good trade records.
Keep reading on how to choose the best Forex Robot.
If you want to buy an automated forex robot software you have a lot of choice but the fact is most are junk with made up simulated paper track records. There are a few good ones out there and this article will help you find the best forex robots. Here are some tips to help you find a forex robot that works.
DON'T Buy Simulations!
Most forex robots are rubbish and claim to be able to make big money but you look at the risk warning on the track record and see the words in "hindsight" and "simulated" Of course, this is easy and anyone can make up a track record knowing all the facts. You have to think to yourself if the robot works, why hasn't the vendor traded it? By discounting all the forex robot which don't have long term results in real time, you are getting rid of well over 90% of them.
Get REAL TIME Results!
Now lets look at what you need to look for to find a good one. You won't be surprised that the first thing to look for is a real track record over several years that has been independently evaluated. Of course past results never indicate future profits - but it gives you confidence in the system and at least the logic is soundly based.
Understand The SYSTEM!
If you want to follow a system (even if it's made money in the past) you need to how it generates its trading signals, so you can have confidence in it. If you don't have confidence, you will never be able to execute the signals as their generated and if you don't do this, you don't have a system at all! So unless the logic is revealed to you and you agree with it, don't trade the system.
Be REALISTIC!
The automated robot with the fake track records say you can make a 100k a year and trade with $100 but this is fantasy, not reality. In the real world, this is what you should expect from the best forex trading systems:
- Gains of between 30 - 100% per annum.
- Losing Periods of a few weeks to a few months.
- Losses of between 20 - 50% of your equity at some point.
Short term performance means nothing and all systems will have a losing streak, it's the long term that counts. If you get the right system, you can make the cost of it back many times over and you have a tool which will in 30 minutes a day give you a fantastic second income.
Take your time and shop around and you will find an automated forex robot that's just right for you in terms of risk to reward and you are then all set, to enjoy long term currency trading success with it.
Choose the best Forex Robot.
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