9 Criteria Which Automated Forex Trading Software Must Meet
Author: Richard Olson
If you want to make money in the currency trading market while you work, sleep, even take a vacation, you are going to need automated Forex trading software. New technology has made this software which once cost thousands available for as little as $100! This software can be put to use instantly on trading platforms freely available from hundreds of online brokerages. You finally can trade on the Forex market even while you are nowhere near your computer. Automated Forex trading makes this possible and it is being adopted by novices and experienced traders alike.
What you can gain from automated Forex trading software?
- You can conduct trades around the clock using automated Forex trading robots; trades in all currency pairs in all of the world\'s important currency markets - something you could never do on your own.
- These trading robots can be had for under $100. There are a lot of automated Forex trading programs which integrate with the industry standard Meta Trader 4 platform used by Forex brokerages all over the world.
- Forex trading robots make trades based on mathematical models (the Fibonacci formula), not emotional responses.
- You can use demo accounts to familiarize yourself with the market and to adjust the software settings for the best performance before you start risking real money on trades.
There is a lot of confusion around Forex trading software - there are some features which any software absolutely must have. You should never buy automated Forex trading software which does not meet these 9 criteria:
1. The ability to give you an edge in trading through thorough analysis of current market conditions.
2. The software should use the Fibonacci formula to predict market movements to ensure making trades which give you the highest probability of making a profit.
3. The software must have an integrated money management system which will make the right decisions to make profitable trades for you, even when the market conditions are unfavorable.
4. Your automated Forex trading software has to be able to take a look at the big picture and identify trends in order to help you make trades at exactly the right time to make the biggest possible profits.
5. Automated Forex trading software should let you keep your position open for as long as you are still making money on your trades, as well as knowing when to close the deal to make you the largest possible profit.
6. Monitors currency pairs in several markets simultaneously and watches massive amounts of trades over time easily.
7. The software absolutely must work with the Meta Trader 4 platform.
8. The software must be user friendly with the \"Keep it Simple Stupid\" approach to allow for effective and profitable trading.
9. Automated Forex trading software has to allow you to work with demo accounts to make yourself familiar with how the Forex market works and to adjust the software settings to suit your trading style and optimized its performance.
The automated Forex trading software is for all levels of Forex traders, whether you\'re at the beginner level or a financial expert. Trading experience or knowledge in the Forex market is not a prerequisite to use the Forex robot software. But if you\'re looking at Forex trading as a business venture you should gain some Forex knowledge from the course at the link below.
Richard U. Olson recommends the incredibly accurate Fully Automated Trading System that he uses to make consistent profits in the Forex markets. Grab his FREE e-course on Forex Trading Tips to realize your financial dreams.