Auto Forex Trading - Is it As Good As They Say?

Auto Forex Trading seems like a dream come true for both the high profile Forex trader with a big account and the beginner Forex trader with a small account alike. In this article, I'll first go over how you can trade Forex on autopilot. Then I'll discuss some of the things you should understand and look for when looking for an automatic Forex trade program.

First, What Is Auto Forex Trading?

Automatic Forex Trading is when you let a piece of software, a computer script or a "robot" do the currency trading for you. Predetermined indicators are programmed into the script, and then the program monitors the Forex Market in real time and makes trades when the conditions are right. The goal is to use the Forex robot to automatically monitor currency market conditions, make winning trades and reduce risk.

One of the great things about using a computer program to do your currency trading for you is you can test the program by using backtests or a demo account. This sure takes off a lot of the stress of trading when you can check the automatic robots settings before putting any real money on the line.

Using an automatic forex program is the closest thing you'll get to a "set and forget" Forex solution. After you get the program set up to the proper specifications (normally given to you by the programmer), you just let the program do the trading for you. And if everything is done right... you just need to count your profits. First ask yourself, "What is the right currency trading solution for my goals and personality?"

Is Auto Forex Trading Right For Your Forex Trading Style?

Not all Forex traders are the same. Some like to be 100% hands on and do all the trading themselves. However, this means you need to keep up with the currency market, the trends and need to be around to do all the trading at the right time... day or night. This approach takes a high commitment of time and energy.

Some currency traders use a semi-automatic computer program. In this case, the software keeps an eye on the market and makes suggestions. Then you need to make the trades. If you are skeptical that an automatic robot can really make a high percentage of winning trades all by itself, this might be a better option. The bad part is you still need to do all the trading manually, which results in being glued to your computer screen at all times of the day and night.

If you are looking for a "set and forget" type of solution, the fully automatic option is for you. But not all auto Trading robots are the same.

Not all automatic Forex trading solutions are created equal!

If you are like me, you want to take advantage of the huge opportunity the Forex market provides for making money and creating wealth. But, doing the trading manually requires you learn everything yourselves and put in the time necessary to watch the Forex Market. Some might want to take a less involved approach. This is where auto trading comes in.

The success of an automatic Forex robot is determined by the preprogrammed indicators it uses to do the trading. They should be set to make maximum profit, but reduce risk. This normally means looking at currency trading in a more long term setting, and avoiding the "all or nothing" trading style some Forex robots are set to use.

Here is one of the most important things to look for. Auto trading programs usually use backtests as "proof" their program delivers on its promises. And there is nothing wrong with that. But, there is a difference between backtesting and putting REAL money on the line. So, my advice is to look for an automatic Forex robot that has been proven to work in the REAL world with REAL money. After all, those are the results you want when you use the robot, right?

Don't be fooled by hypothetical test and programs that ONLY use backtests to prove their system works. I wanted the go the auto trading route, so I needed something that was proven to work with REAL money. For me, finding the right automatic trading solution really was a dream come true.

Take a free look inside the auto Forex robot Edward uses at: Inside FAP Turbo.

To see why this is perfect for an investor starting with a small account, go to: Trading With Small Account

The Different Forex Trading Strategy to Help You Make More Money and Minimize Risks

People need to make money in order to live a comfortable life. They need it in order to pay for the utility bills, pay for food, for education and other things that are necessary in life. This is why people tend to do anything to make money. Some people work in a company, some people prefer putting up their own business and some people trade in the financial market as a career.

One such financial market that you can really make money from is the Forex market. The Forex market is the largest and the most liquid market in the world with trades open for 24 hours a day and exchanges that amounts to trillions of dollars each trading day.

In order for you to be successful in this market, you need to know the basics about the Forex market. You need to be able to know how to trade, when to trade and what to trade. You will also need to know the different trading strategies in the largest financial market in the world which is the Forex.

Knowing about the different trading strategies in Forex will allow you to minimize the risk of losing money and increase your chances of making huge profits.

First of all, it is important that you should remember that the Forex market can give you the chance to earn a lot of money. It is a known fact that people who have traded in this very liquid market have made millions of dollars almost overnight. You also have to know that the Forex market is also a very risky market to be in. It is also a known fact that many traders in this market have experienced losing a lot of money even to the brink of bankruptcy or beyond.

This is why you should know the different strategies that are necessary in the Forex market. Without these strategies, you will be like a blind man crossing a busy intersection with no one to guide you.

First, you need to realize that Forex trading strategies are very different from the strategies used in stoke trading. If you know about the different trading strategy in Forex, then you will really earn a lot of money from this very large financial market.

One of the most useful strategies that you can apply in the Forex market is called leverage. This is one of the most common strategies that you can use in the Forex market and most Forex traders are familiar with the leverage strategy and many have made large profits from this strategy.

If you already have a funded Forex account, you can use the leverage strategy to help you trade more effectively in the Forex market. Leverage strategy works by giving you 100 times the amount of money that you can trade in your deposited account. Therefore, if you do win, your income will also increase 100 times. This will allow better results in your trades.

Another strategy that is commonly used in the Forex market is called the stop loss order. This strategy is used to protect you from potentially losing a lot of money. This works by letting you choose a predetermined point in the trade where you will not trade. Therefore, it will eventually minimize the risks. However, if the movement of the currency is not like what you actually predicted, you will end up losing potential money making opportunity with this kind of trade.

Automatic entry order is another Forex trading strategy that you can use when you trade in the Forex market. This will allow you to enter the Forex market automatically when the price of a particular currency is right for you. The price is predetermined and once it reaches that predetermined price, you will be automatically entered into the trades.

These strategies will help you trade in the Forex market more effectively. It will eventually help you minimize the risk and maximize your income earning potential. However, you should always remember that you should know when you should use these strategies. It is also important that you should remember that there is always the risk of losing money when trading in Forex. These strategies will not necessarily eliminate the risk but will minimize it.

Do you want to learn more about it? I have just completed my brand new guide to your Forex success, 'The Insider's Guide To Your Forex Fortune'

Download it free here: http://www.yourforexfortune.com

Seth Hamilton is a full time Forex Trader who has established himself as an expert in the world of Forex Trading and Currency Exchange.