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There are still a lot of debates about the usage of automated currency trading system (AKA forex robot or expert advisor), not only among novices, but also among pro traders. You’ll find a lot of resources stated that automated trading is merely scam and it just not worth your money. However, there are also people that claim they have great success with automated currency trading. If you are a new guy in currency trading, you may be torn between “easy profit” promises and what the conservative traders said. Let me tell you the truth: automated trading works. If some people claim that they have been scammed and acting like a victim, they didn’t do the following before throwing their money on the line: 1. Testing the robot performance It astonished me that people always eat up everything stated in the merchant page and happily put their money in the hand of an unknown software. There are hundreds of forex robots out there and I dare to say that 90% of them are just trash that can’t even generate 10% of the profits that they claim in their site; thus it is very likely that you stumbled upon one of them. Backtest can’t prove anything and it might be bogus, but real market will tell you the truth of these robots. Open a demo account in a MT4 forex broker which allows forex robot, rent a VPS, and test your robot there. “Why do I need to rent a VPS just for a demo account?” Simply said, your robot can only work at its 100% capabilities if it goes online 24/5 without interruption. If you certain that your desktop PC can handle that job, then go ahead and use it. I would suggest to test it not less than 2 month before you make any conclusion. It’s the limit of the guarantee period for most of them anyway. Sure, this will require patience; if you expect to buy your robot today and get rich tomorrow, you still live in a dream land and it’s time to wake up. 2. Providing the ideal environment for the robot to run at its maximum potential Do you research the robot, read the manual thoroughly, and see what others who have used it have to say? Forex robots can’t run at its 100% if you just throw them to the market; they need specific conditions to run perfectly. Here are some of the things that you need to check: - What’s the minimum account size for it? Some robots are equipped with trading strategies that very weak when implemented in a mini size account, so watch this carefully. - Are you put it in a good broker? Scam brokerage will tackle your robot, but even some honest brokers can make your robot useless if they have issues with their connection stability. - Exactly what currency pairs do you pick for your robot? Automated currency trading doesn’t mean you can just charge at any currency pair and acquire profit from it. Forex robots are backed by a particular trading system that definitely really strong in a specific currency pair and weak at others. You have to know what currency pair it is. - Do you put it on a trusted VPS or merely at your home PC? A forex robot that hosted in a home PC is more vulnerable to disruptions that can hinder its functionality. 3. Educate yourself on the best setup for the robot Just like any other software, forex robots have their own settings that you can modify at will. The default setting isn't always the best choice given that they usually made up to handle many currency pairs. By researching and learning the most effective settings for a couple of particular currency pairs, you’ll get yourself a winning robot. Automated currency trading is possible. The one that make it seems like a scam is people who still have “buy the robot and get rich tomorrow” concept in their mind. You have to devote some efforts and time to get yourself a real winning robot, but the end result will really worth it. Take a look at the best forex robot to find out the best selection available at the moment, thus you can limit your choices and save your time. Additionally, look over identify online forex trading broker to find out how you can identify a genuine broker to place your robot.
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automated currency trading, forex robot, expert advisor, finance,
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