Automated Forex Trading Software – 3 Important Factors To Make It Run At 100%

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If you’re into automated forex trading software, you must choose from the one that just deliver a prospective trade opportunity (AKA trading signals) and the one that require no human interference at all as it can analyzing and placing orders independently. The last one is also known as EA or forex robot and I’ll talk about this as this one is apparently the favourite choice.

Aside from the forex robots that made by scam programmers who can only prove their usefulness in backtesting (unfortunately, most of the forex robots in the market ARE scam), there are a handful of genuine forex robots with real profitable trading system behind it. But having your hands in this robot doesn’t imply that the search is over and you can watch the money rolling in; this is a blunder that have been made by many robot owner and they have paid dearly for that.

One fact that you have to realize is regardless of how profitable the trading system driving your automated trading software (whether it is forex robot or trading signals), they require certain situations where they can run at their 100% effectiveness and you as the owner have to provide it for them. These are factors that tend to neglected by forex robot owners:

1. Credible Online Forex Broker

No matter how good your robot, it won’t matter if your broker cheats on you. Your broker can sabotage your trades by cutting your connection, tackle your trades, delay your order execution, etc. With hundreds of online forex broker out there, it is not surprising if some of them are scam brokerages.

The simplest way to recognize a trustworthy broker is checking their registration at the official financial authority such as FSA or NFA; but even with that you cannot be 100% positive, therefore be extremely careful.

2. VPS (Virtual Private Server) with Steady Connection

Unlike trading signals, forex robot is an automated trading software that need a place to host it. Usually, it is impossible to run your robot from home due to downtime and other connection issue; also, if your robot goes off when your PC is off, you’ve lost many potential profits opportunity.

This is where Virtual Private Server comes in; basically, you reserve space in a server to host your forex robot so that it can operate 24/5. There are many companies that offer this service, so make sure you choose the one that doesn’t go down too often.

3. The Best Currency Pairs

You should’ve got this information from your robot’s manual, so make sure to set it only run in the currency pair that it has optimized for. Some forex robots creators said that their robots can conquer all currency pairs in forex market, but in reality, there should be a few currency pairs where the robot are most profitable; I suggest you keep it running only in these pairs.

Sometimes, you can find programmer/traders (not the EA creator) that provide different settings for a particular forex robot; this new settings promise bigger profit with more aggressive trading methods or utilizing other currency pairs. This can be worth to try, but make sure you test it first in a dummy or mini account.

You are able to utilize automated trading software to gain steady profits from the foreign exchange market, but you can’t charge blindly to the first offer you met. Take your time in testing different robots and if you eventually get one, put attention to the 3 aspects stated above to make certain your robot work at its 100% capability.

You must not tackle your own forex robot by make it run under a dishonest forex broker platform, check a review of AvaFX for the details of a reliable online forex broker. Go to top rated expert advisor to know the most effective robots at the market currently.

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