Automated Forex Software - 5 Essential Facts You Need to Know to Win With a System

Author：佚名 Source：none Hits：104 UpdateTime：2008-10-18 23:57:46


If you intend using automated forex software or any forex trading system understanding these facts will help you get the most from your automated trading...

Here are your facts in no particular order of importance - there all important

1. Fact Most Forex Robots Lose

Promoted heavily online with hyped copy but they have in most instances no track record of profits. They only produce a track record in hindsight, on paper and that means nothing - we can all win if we know the closing price.

Never trade one of these robots you will lose.

2. All Automated forex Systems Incur Drawdown

There are lots of people telling you that software can predict market turns in advance - this is rubbish!

Forex is an odds game, nothing more and with any odds game you will lose for periods of weeks and you need the discipline and confidence, to trade through these losses to ht a home run.

3. Free Forex Trading Systems can Win

We have written on one of these and it's called the 4 Week Rule.

It's simple to understand, apply and has made countless millions, for traders over the last 25 years so look it up; it makes money and won't cost you a cent!

4. Beware of Science!

Complex systems are all the rage but simple systems work best and always have.

In an odds based market like the forex market, you cannot apply complicated theories as they have to many elements to break, so keep it simple to win. Think about it - 50 years ago 95% of traders lost and the ratio is still the same today, so advances in forecasting and complex programs have not helped.

5. Be Realistic

The best automated forex software systems, will give you gains of 30 - 100% compounded annually over the long term, losses would typically be between 25 - 50% and losing periods can last a few weeks, to a few months.

Don't look for a short term killing, it won't happen but you can make huge long term gains.

6. Understand What You're Doing!

Whatever system you use, you must be able to apply it with discipline and that means understanding how and why it works.

This will give you the confidence to trade with discipline and win.

Automated forex trading software can be a valuable aid in your quest for forex trading success and while most of the packages sold wont help you win, there are good ones if you hunt around. If they are applied with discipline, they will reward you with currency trading success.