FAP Turbo Forex Blog

Automation is in the world of currency forex online trading truly the lazy mans way of trading the forex. Simply smart to let a program do the work for you, I would say. 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. But what if you don’t want to make all these experiences 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. Do not have more than 3% of your current account balance at risk. Make sure you have always a Stop/Loss in place that takes care of 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.

To get started right away, that’s all 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. 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. To take a bull by the horns, after tweaking and testing 75 automated FX online trading systems, I was completly shocked that 98% of them are not making any money. In fact some of them would burn your capital in a firestorm.

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. 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.

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. A live stream with all the transactions/trades should be provided by the person/company.

4. The robot should be easy to use with predefined settings with an integrated update service. To be honest with you, it’s absolutely key for you to have a system in place that does not need any further optimization from your side.

5. And last but not least, they should provide a no-risk or money back guarantee.

That’s it. Again, if you only follow these key rules, you are well ahead of 95% of your competition.