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? What are the key factors that make the difference between the 5% (or even less…) that make those nice profits month after month and the other 95% who are struggling and burn account after account?

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. Do not put any money at risk that you could need elsewhere. 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. Only switch to real or live trading after a minimum of one month profitable trading (should be at least 20 trades, the more, the better).

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. It’s always best to take 1/3 to 1/2 out and let the rest run for further growth.

To go ahead an start a successful forex trading business, that’s all you need to know. It’s as simple as that. You can be one of those 5% of profitable traders who make a killing in fx online trading.

Forex Trading Software - How to find a profitable one?

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. The majority of system developers will tell you that their system is able to make you very rich, but normally that is more a fantasy than a fact. Can you handle the truth? Most of these automated FX online trading systems simply don’t work. Oh yes, they trade automatically for you, but NOT profitable.

Automated FX Trading Software Systems are more often than not based on the MT4 Platform of Metatrader. Inside the Platform those Forex robots are called Expert Advisors or short EA’s. EA’s are simply some piece of Software that tell the MT4 Platform when to trade, which currency pair and how to trade it.

Just google it out on the internet. So I will come straight to the point to make sure that you will not get overwhelmed with too much informations. 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. It’s crucial that you can get access to a live stream where you can look at all the trades of the automated fx trading software.

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. Optimization efforts could take you many month to get right, so I urge you to only go with 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.

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