It is the dream of every forex trader out there – to have an automated forex trading system which you just turn on or activate, and it will make money for you while you are enjoying the tropical climate somewhere!
Unfortunately this will remain a dream.
There are many automated forex trading systems out there, but the sad fact is that most of them will only lose you money. There are many mechanical trading systems out there that can be used to trade very successfully, but the difference is that the trader behind the trading system still makes the decision to take the trade or not.
That is the best way to use an auto trading system. Let the system give you the trading signals that the conditions for a trade is met, and then you as a trader will decide if you want to execute the trade or not. This can make a drastic difference in the win/loss ratio of your trades.
By trading this way you will get far better results than just turning the auto trading system on, and let the system trade for you.
Many manufacturers of auto trading systems only prey on the ignorance of new traders which are easily convinced to purchase an automated forex trading system at often very high prices. Most traders have fallen for this and have purchased such systems, which usually led to some large losses of trading capital. There really is no shortcut to becoming a successful forex trader. You will have to get a trading education, and not only purchase the latest forex trading system in order to become successful.
Another fact is that the best candidates to use auto forex trading are very experienced traders that know the trading system very well and also knows in which trading conditions the forex automated trading system will perform the best. That is a key concept that most beginner traders does not get at all. There is no “one” the best trading system that will be successful in all market conditions.
If you try to trade a trend following system in ranging conditions you will lose every time. If you try to trade a reversal system in trending conditions you will also lose every trade. The key is that you must be able to identify the current conditions in the forex market, and then apply the right type of trading system to it.
So the bottom line is;
Learn to trade first, and then start investigating some auto forex trading systems. Only then will you be equipped to successfully manage the system, and get some real decent results from it.