Like most traders you’re probably asking yourself “do forex robots work?” The answer is yes, they do. The basic truth is that with a professional forex robot and the proper setup your trading can improve greatly. Thousands of traders use forex robots every day to find real pips.
But not all forex robots are the same. And how you set them up is crucial to their overall success. Don’t be intimidated though. This guide will help you find your way to real automated pips in five easy steps. Let’s get started.
Step 1: Finding A Forex Robot That Really Works
This is obviously the most important step. To make real pips you’ll need a forex robot that truly works. So how do you know if a forex robot is a winner? By making sure it meets these three criteria:
- Built upon sound trading theory and logic. No magic tricks.
- Up-to-date trading results you can view anytime.
- Created by an established developer.
- Vader Forex Robot
Logic: Uses daily Fibonacci levels to trade the price coming and going
Style: Large trades with good frequency
Performance: Today’s latest trades can be viewed here
- Ganon Forex Robot
Logic: Uses Strand Theory™ system to trade reliable trend shift signals
Style: Adaptable between high and low frequency
Performance: View its latest trades by clicking here
- Falcor Forex Robot
Logic: Uses price action to find support and resistance triggers
Style: High frequency trader
Performance: Latest trades can be viewed here daily
Step 2: Choosing The Right Lot Size
The biggest mistake new traders make is over trading their account. Example: You attach a forex robot to three charts. You will need enough funding in your account to have at least three forex trades open with enough room for drawdown. Nobody wants margin calls.All three of the forex robots mentioned above have automatic lot sizing based on your account so there is no guessing on your part. Otherwise you should start small by trading on a micro account. It requires less capital and carries less risk. Configure your forex robot to use micro lots (.01, .02, etc.) and you’ll be on your way to real pips. Once everything is running smooth you can start using larger lot sizes.
Step 3: Choosing The Right Currency Pairs
This step is easy. Find the three pairs with the lowest spreads. Then attach your forex robot to them. Avoid highly volatile pairs like GBPJPY.
Step 4: Using Your Forex Robot Correctly
Pay attention. Most forex traders go astray on this step. We’ve created what we call The Rules Of Automation. Follow them and your forex robot will hum along smoothly:
- Your forex robot needs to be on and running whenever the markets are open
24 hours a day five days a week. If this isn’t possible look into using a forex VPS remotely instead.
- Give your forex robot enough time to grow
Every forex robot has highs and lows. Let it work and do its thing before deciding to give up on it.
- Trade manually on another account
It is important to keep your own forex skills sharp. But don’t eat up funds and bring about margin calls on the same account your forex robot is using.
- Try different brokers
Brokers love to step all over forex robots. Open a demo account with another broker and see if you notice an improvement.
Step 5: Add A Second Forex Robot
Forex robots work best in pairs. You can smooth out your forex trading instantly by adding a second forex robot. While one forex robot is looking for trades the other will be in the middle of a winning streak. Consider them a team that watch each other’s backs.
So Do Forex Robots Work?
Yep, they do. Use a professional forex robot. Fund your account properly and use a safe lot size. Choose the right pairs. Follow The Rules Of Automation. And you’ll be on your way to better forex trading.