System trading with forex robots is a route to profitable forex trading made easy if you have no forex trading knowledge, limited time and a tight budget.
Follow our guide, and for a very affordable outlay you can run a portfolio of robots, reducing your risk across a number of different strategies, all of which you can test to confirm that they work before you risk any of your capital.
A trading system is quite simply a profitable methodology which can be copied by people such as yourself.
There are broadly three ways in which you can adopt another trader’s currency trading system
- Learn forex trading systems and strategies at a forex course
- Follow the trading systems of an expert by subscribing to forex signals and follow the expert’s trades
- Install some forex trading robot software which will apply forex mechanical system trading to your account
Here we’re going to look at forex system trading provided by forex robots, also known as a forex expert advisor or forex ea software.
Much like forex signals, or indeed an experienced human trader, no one robot is going to get it right all of the time, or indeed get it wrong all of the time either. Like any forex trading, the overall result delivered will be composed of a combination of both winning and losing trades. No system anywhere will deliver straight wins all the time, but the better robots give net overall profitable results across all their trades.
Given that the cost of these (potentially very time saving and profitable) pieces of software is so modest, most being less than USD $100, our top tip based on experience, is to run 3 or 4 of them all together, which should give you an overall consistently profitable result.
Trading them through your broker on a demo account first will enable you to see how this strategy works without risking any of your cash, but do remember that some robots work better in some market conditions than others. Once you have your forex robots up and running remember to consult the forex forums to find the nerds (sorry) who know their particular favourite robots inside out and who will be best placed to give you tips for optimising the performance of each particular robot.
It seems to be in the nature of the industry that produces forex auto trading software to promote their products with over hyped merchant pages.