Buying some automated Forex software to use in your trading is the first and simple part. It is however much harder to know if the system will ever perform for you.
When you first get your software do not be too eager to run it on your live account immediately. Past performance results don’t ensure that the system will undertake the same on your account.
The most accurate way of testing a system is to employ a live trading account with a slight deposit. This doesn’t have to become a costly exercise if you make use of a Mini sized account and adjust the software to trade the minimum lot size. This will enable you to build a clear picture of performance by using live market spreads.
Demo trade any type of system you purchase before placing real money in the line: Demo trading is the greatest way to test a trading method without jeopardizing any of your hard earned money. A lot of Forex brokers allow you to open a demo account so that you can practice and help your trading expertise without taking a chance on your real money. These demo accounts have similar capabilities than a live account and will offer you with the experience necessary for profitable trading.
Instead you can set up a free demo account with a Forex broker. These can be opened in a few minutes. This will then give you a totally risk free way of trying out the system.
You need however to realize that many brokers will offer better spreads on demo accounts. For this reason you may find some inconsistencies in the results the software achieves.
After setting up and configuring your system, you then need to leave it to trade. You may find that after several days the robot has not traded. Many systems follow longer term trading strategies and may not make a few trades in a month.
Similarly do not panic if you’ve seen the odd trading loss. There will be times when losses occur, as with all Forex software. The key thing here is to note how the system recovers itself.
In order to have a true reflection of the performance of a system you should let it run over a series of weeks. This will give you adequate time in which to establish a set of results for you to assess.
This will put you in the better position for deciding if the scheme is likely to perform on your account. You should now be able to decide if automatic Forex trading is going to work for you.
You might at this stage want to tailor the software settings in view of the results. This may involve changing the profit targets or removing traded pairs that do not perform. Essentially any changes you make are intended to make the software provide a more profitable Forex trading system.
You can then make the move to trading the software on your live trading account. Even here, you need to maintain a check on your risk. Start off by trading with low risk settings and lot sizes and only look to raise these as your confidence on the capacity of the software to perform grows.
How does Fap Turbo Make Money?I am considering getting the forex robot trader called fap turbo, it trades in the forex market for you. I just want to know exactly where the money it makes would be coming from. Would it be through interest? Is it anything like trading shares?
Automated opens closes trades based loosely on trend direction. However If you had a trading system/robot that was right 7 out 10 times would you bundle it up, market it and then spend enormous time trying to sell it for a few hundred bucks? No, because you would be busy trading it. Ask simple questions before investing on any system/robot. 1) Whats your refund rate? Major question! What are refund terms 30 days, 60 days? You reckon you will know how successful a robot is after 30 days? 2) What brokers, if any, allow use of said automated robots? Some Brokers won't, some platforms can't. 3) What markets does it trade and time frames involved? 4) Profit history – Is this Hypothetical, Simulated over what time period months, years? Trending markets, ranging markets? 5) Small print small print small print Past performance etc 6) Is it bait and run? i.e 'limited number' once sold, sellers gone.. 7) Support Technical help etc look to the forums, looks to research its all out there!
To trade successfully in forex, you have to learn how to trade on your own. Forex robots are mostly unreliable. If there are reliable, banks would have made themselves the best robots. However, they didn't. They hire forex dealers/ chiefs dealers etc. Don't waste your money on robots, instead learn to trade the market yourself. Asia Forex Mentor Ezekiel http://www.asiaforexmentor.com
FAP Turbo is an automated trading strategy you can use to trade the forex market. Forex stands for Foreign Exchange, so you are speculating on the value of foreign currencies. So what you do is setup an account with a broker that has the Meta Trader 4 platform, and you add the FAP Turbo expert advisor to your account. The strategy then buys and sells the currencies based on the automated strategy. You will then earn or lose money based on the increase or decrease in value of the currency it is trading. I would recommend speaking with other traders that have used FAP Turbo to get their feedback. The DonnaForex forum has a large community of EA traders http://www.donnaforex.com/forum/index.php?topic=519.0 . If you want to find out more about the forex market in general, I would recommend starting with some free educational sites such as www.babypips.com http://www.dailyfx.com/how_to_trade_forex/learn_forex/ http://www.investopedia.com/articles/forex/ http://www.forexmicrolot.com/educational-videos.jsp