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How To Choose Automated Forex Trading Systems

PostDateIcon May 8th, 2009

Are you searching for automated forex system to trade? With so many systems available in the market, do you find it confusing and frustrating?

Searching for a good automated forex trading system can be a hassle, especially when you are new to the forex trading markets. In this guide, I’ll share with you some guidelines on how to choose an automated forex trading system.

Always Check The Trading Results

When selecting an automated forex trading system, first of all it has to be profitable. But when you’re looking at the trading results given by the vendor, you have to know the difference between back-tests and trading with real money accounts.

Typically, back-tests can be optimized to show good results. The programmer simply needs to test different settings over the past price history to find the best results, and then shows you how “good” his or her trading program is. The thing is, back-testing doesn’t always give you the same results in real-time testing.

On the other hand, profitable results from back-testing doesn’t mean that the trading robot won’t make money in real trading! You just have to test the automated trading system with a small live account to see if these results hold in live trading.

If the vendor shows real money accounts, you then have a verified trading robot that does make money trading with real accounts. This increases the chances that you have a good piece of automated forex trading software in your hands.

Check Out User Comments

In most cases, we always seem to purchase these automated forex trading systems on impulse. The thing you want to do is look for comments from past users that are “real” feedback. Usually, users of these trading robots tend to have missed out something or other in using these automated trading systems properly.

All trading systems go through drawdown periods, and it can be just a case of their “luck” that they started trading when the system is going through a drawdown! It’s expected that users caught in a drawdown will have unfavorable comments! So it does take some time to sort through whether these automatic trading robots truly have potential or not.

User comments can be utilized as a guide to know what the limitations and capabilities of the forex trading robots. Search for “facts”, not what their opinions are. It helps to evaluate the automatic forex trading system correctly! After all, a few disgruntled users could potentially make you miss out on a good automatic forex currency trading system!

How Customizable or Usable The Automated Trading System Is

Find out if you can use settings other than the default. Although this makes using the trading robot a bit more complex, being able to configure the settings means you can tweak the settings when the market changes. With the flexibility, the potential for continued long term profitability exists. Using the default settings is good, but as you gain experience in trading, knowing how to adjust the parameters will help you remain profitable.

In Summary

Automated Forex System Trading is a fantastic way of pulling profits from the currency markets. With these guidelines, you can sort through the thousands of automatic trading systems in the market with a clearer idea of what they can do.

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Why I like Robominer
In the Forex marketplace, almost every week we see the release of some new trading system or Expert Advisor (an EA is an automated forex trading robot). Some of them work while most of them don't. However there is one EA that has been constantly making profits over the last year, generating over 86,908.00 pips in profit, and generated a 314% return in just 12 months, according to company figures.

This system that only a few seem to know about is RoboMiner. The RoboMiner EA is a long term investment system that pumps daily small profits into your account, it always closes trades with a profit. That's right, you will never have any trades close with a loss.

The RoboMiner EA uses a proven grid trading system that is so safe, it's as if your money is in you IRA account. This system generates a minimum 6-10 % return monthly, with compounding that's 100% return a year.

Let's do the maths here. If you invest $2,000 today, in 9 years from now that will turn into $1,000,000 minimum. Where else can you find such a safe investment that will give you this kind of return?

Best of all you can download a free demo of this EA, test it for as long as you want and see for yourself how it performs.

So go ahead and try the RoboMiner EA today. Click here to download a FREE copy of RoboMiner. You will never have any trades close with a loss.
What Are The Best Forex Robots?
Watch out. The only thing that some "autopilot" forex software products will do for you is... analyze the market. Sure, that's great because when a computer does all the analytical work for you, you don't have to sit in front of a screen looking at charts and candlesticks for hours on end.

But a ROBOT program goes much further.

Forex robots will actually DO THE TRADING for you, as well as the analysis work. A well-written Expert Advisor (EA) will buy at the right time and sell at the right time. It's the ultimate in hands-free currency trading... as long as it's a well-programmed forex robot.

So what are the best forex trading robots available today? I've tried several but only identified one I am happy with at this point... RoboMiner. It primarily works with the AUD/NZD currency pair and is programmed to only trade when you will make a profit. It takes profit when a trade has reached a 1.5% profit.

Why I don't like these EA's

PipsMiner. I first used the wrong settings and as a result lost money. Then I corrected my mistake and entered their recommended settings but still lost money with PipsMiner SE version. Here endeth my very brief PipsMiner user review.

Forex Megadroid. I was running the default settings in demo mode and it didnt turn a profit for me, so I got a refund from ClickBank. That's the nice thing about buying through ClickBank. Although the site promises world class support, it fell far short of that in my experience.

ForexBling. Support was inadequate. I had several questions about setup, but they were answered in just a few words when my questions really needed more info. Even the brief answers did not address my actual questions in some cases.
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