Automated FX Trading Soiftware – The Basic Rules
Automation is in the world of currency forex online trading truly the lazy mans way of trading the forex. And it’s always clever to use automation. So let the program do the work for you. Why? Because it nearly eliminates the biggest enemy you have to conquer in this process: Yourself!
But be careful, after 6 years of FX Online Trading, I’ve been probably through all the pitfalls that this industry has to offer, which was sometimes a very hard lesson to learn. And if you don’t want to experience all this trial and error yourself? So what makes the difference between the winners and the loosers?
There are some points that are absolutely key to your success!) with online forex exchange trading or simple, FX. So here they are:
How to become a successfully currency forex online trading expert
The 5 basic rules
1. Never trade with money you can not afford to loose. Never!
2. At no time, you should be invested with more than 3% of your account balance, your Stop/Loss has to secure this. Crucial!
3. Always start with a demo account for at least one month if you are testing something new (Most Automated FX Trading Software requires a minimum of 3-6 month testing to get familiar with the software and the trading “habits” of it.)
4. Before you ever go live with your forex trading, I recommend that you have experienced a minimum of 2 month of profitable trading.
5. After finding a profitable FX Trading Software, always take portions of the newly earned capital out of the account and let the rest accumulate. Take around 30-60% out of your trading account and put it in your bank account or buy yourself a coffee and have fun 
This way you are good to go further and let a portion of your profits run for further gains.
For a good start into your trading career, these are the basics you need to know. If you only follow these simple rules you are well ahead of so many others and on your way to the Top 5% who are making serious money with fx online trading.
How to find a profitable FX Software?
That’s no easy thing to achieve. Normally you have to test dozens of systems to find one that is really profitable. Don’t get me wrong on this one. Sure, everyone claims to have one that is profitable and will make you tons of money, but the reality can be very sobering. Bad ROI (Return of Investment), Bad RR (Risk to Reward Ration), these are my results after testing 74 over these automated FX online trading systems.
Metatrader 4 is the mostly used platform for the automated FX Trading Software Systems. The programs where named Expert Advisors (EA’s). An Expert Advisor is a software script that administers the orders and tells the system what, when and which amount of any currency pair to trade.
You can find tons of material on that subject on the internet. But I don’t want to overwhelm you with too much info. That beeing said, I will go straight to the point of interest:
5 Rules to find an automated FX Trading System that really works
1. If an EA is only advertised with “back tests”, it is nothing you should spend your time and money on. The back tests are only an indication for the system creators if their development is heading in the right direction.
2. Only rely on the so called “forward testing results”.
3. You need to know what the real performance of the system is and therefore the system creator should provide real time trade statistics.
4. This automated system should have build in settings that you don’t have to figure out for yourself. An update service should be included. If you don’t want to get burned out, you have to have a system that is already optimized.
5. And finally: A Money-Back-Guarantee for the Trading Robot.
That’s it. Again, if you only follow these key rules, you are well ahead of 95% of your competition.