There are a huge number of automated forex trading systems and they all claim to be the best but the truth is most destroy equity and do it quickly. So to find the ones that can make you money follow the enclosed guidelines…
Here are some tips in getting a forex trading system
Make Sure Its Done What it Claims!
Many traders end up disappointed with forex trading systems and lose and wonder why when they have seen such a great track record - the problem is most track records are not real and you will see this on the overwhelming majority of the ones sold:
“CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading”.
In pure simple terms simulated trading means looking backwards with all the data at your fingertips and its not hard to make a profit doing this its kids stuff.
This is really odd, in that the aim of any forex robot or trading system is to make money and yet the vast majority have never done anything of the sort. Back testing is no proof of what it will do in the real world and the disclaimer makes it clear how useful these track records actually are.
If someone sold you anything that had not been tested I the real world would you buy it?
Of course you wouldn’t! Imagine a swimming instructor telling you he can teach you to swim but hey, I have never swam in my life would you be filled with confidence? Well I wouldn’t and sure you wouldn’t either.
So ok we have got rid of the vast majority of the robots but there must be some good ones out there?
There are and the first place to start seeing if one is likely to make money is to get a real track record audited over 2 or 3 years. Next, you need to have confidence in it so make sure the logic is revealed to you and you fully understand it, so you know why it is likely to make you money.
Don’t forget having a good system is only part of the equation for success with an automated forex trading system; the other part is executing the signals with discipline.
All systems have losses and you have to keep trading and taking losses, until the system hits a winning run. If you throw stop following the signals because you get frustrated you may as well not have a system!
You should also check how long losing periods are and how long until they make a new peak in equity. Look at the worst losing period and assume you are going to face that at some point and be prepared.
Forex robots can and do make money but be realistic you are not going to make huge amounts on $100 or so ( in fact the minimum amount to trade on any system is normally a few thousand) and if you make 30 - 50% consistently, year in year out this will compound up to a lot of money and your system will be up there with the best
That’s a very good rate of return for what is 30 minutes or less in terms of work per day
Buying an automated forex trading system is really common sense - you want a proven one you understand and can follow with discipline and if you look around you will find them.
Be sensible and if it looks to good to be true it is and make your own investigations and you will find the forex trading system which leads you to currency trading success.
Sonia Kristina
http://www.articlesbase.com/currency-trading-articles/forex-automated-trading-systems-why-the-real-track-records-never-replicate-the-track-record-shown-492817.html