| There are lot of forex robots for sale but most will | | | | run. |
| soon wipe your equity out but there is a tiny minority | | | | You need to maintain discipline of execution and make |
| which win and we will look at a checklist you should | | | | sure the trades are placed exactly as the system |
| follow, to find them and get the right one for you... | | | | dictates. If you can't do this with confidence and |
| Here is your checklist for finding the best forex robots. | | | | discipline you don't have a system. |
| 1. Get a Real Track Record | | | | 4. Curve Fitting |
| Most of the forex trading systems online fail on this | | | | The reason most simulated trading systems fail is |
| basic point - they don't have one! All they have is back | | | | because they are curve fitted. This means the rules |
| tested simulations on data and of course we can all | | | | are bent to fit the data. As no two pieces of data |
| make money doing this. You will normally see the | | | | ever come around in the same price sequence again |
| words "simulated", "hypothetical" and in "hindsight". Lets | | | | the system collapses in real time trading. Even proven |
| be clear you are buying a trading system on the basis | | | | systems get curve fitted. The system makes money, |
| that it will make you money and if has never been | | | | so the vendor offers new improved rules but don't fall |
| traded why would you trust it? | | | | for this, use the original ones, curve fitting sees |
| If you pass by the simulated systems you already | | | | systems fail. |
| have got rid of 90% +. When looking for a real time | | | | 5. Best Time Periods |
| track record two or three years is the minimum period | | | | The idea of an automated trading system is to save |
| you should consider remember, anyone can fluke a | | | | time and you should really use a swing trading or long |
| few weeks or a month and this time period means | | | | term trend following system - never a day trading |
| nothing. | | | | system. Day trading is based on logic that doesn't |
| 2. Risk Tolerance | | | | work and anyway, you will never find a real track |
| You will normally find that a system will lose for weeks | | | | record so steer clear. |
| on end, that's just the way forex trading is so make | | | | Follow the above 5 points and you will find the best |
| sure you prepared for this and look at the biggest loss | | | | forex robots and then you can choose one that fits |
| and time to recovery - i.e. if you joined the system on | | | | your risk criteria. Forex robots do work but don't forget |
| the worst possible day. | | | | they will lose for long periods to so you must have the |
| 3. You Need to Know The Logic | | | | confidence and the discipline to take these loses, until |
| Never by a system which doesn't have the logic | | | | profits come. |
| disclosed. Ideally, it should tell you the exact rules and | | | | There are some good automated forex trading |
| parameters used and the logic behind them. This will | | | | systems and the above information will help you to find |
| give you the confidence to keep executing the trading | | | | one which will lead you to currency trading success. |
| system through periods of losses until you hit a home | | | | |