How can I find an Automated FX Trading Software that will actually be profitable
You may have heard one of these stories where people tell you that you only have to turn your computer on, login to your trading account, start your trading robot and the money rushes in your account. Does this actually happen in real life, or are we just being fed a line by con men? Like always, you guessed it right, the truth lies somewhere in between.
So what do you have to do to find such a profitable Automated FX Trading Software?
Normally, you have to test dozens of systems to find one that is really profitable. In addition, it should be profitable over a longer period of time. Do not get me wrong here. Forget about the hype in the ads and sales pages, the truth is mostly very sad. In fact after testing 79 Automated FX Online Trading Systems over the last 3 years myself and losing some of my hard earned money trading them, I can honestly say that 95% of them are pure crap when it comes to ROI (Return Of Investment) and RTR (Risk To Reward Ratio).
The majority of the Automated FX Trading Systems are working based on the Metatrader 4 platform which is very common in the industry. Within the programming, these forex automatons are referred to as expert advisors, alternatively by the acronym, EA. Such an EA is nothing more than a software code, that gives the MT4 platform precise instructions what, when and how tor trade.
The internet is a fantastic resource for more information on the subject. However, I don’t want to give you so much information that you’ll get overloaded. So let’s get to the facts here:
The 5 Rules to find an Automated FX Trading Software that really works
1. Any advertiser of an EA that only shows you so called “back test results” isn’t worth your time and money. Programmers use back test results to see if their work checks out. There are a lot of potential things involved that could make the results false. In fact, back test results always provide better trading results than the live or forward testing/trading results ;-).
2. Only rely on the so called “forward trading/testing results”. Forward trading results are just absolute trading results.These are direct tests of the system under actual market conditions, rather than testing with stored data, like back testing.
3. The trader/advertiser needs to a have a live stream of the trades. That way you can follow the trades, get a feeling for the trading methodology and you can look at all trades the EA takes and has taken whenever you want to.
4. With the help of predefined settings and having a working update service, it is simple to utilize the EA/robot. That’s important, because otherwise you could spend a whole lifetime to optimize the settings and never get it right.
A Money-Back-Guarantee. That way you can test it, demo first and if it’s not that good or you can not get it profitable, simply request a refund and you gained some experience but haven’t lost any money.
It’s that simple. Using only these few, easy key rules, you will place yourself at an advantage over 95% of all other traders. And isn’t this exactly what you want?