Developing a good automated trading system is the ultimate dream of any trader or for that matter any systems developers. This is exactly what has happened in the last few years. The development of the MetaTrader MT 4 platform for forex trading also allows you to develop your own automated trading system by using a programming script and then use it as a plug in on the MT 4 platform. An automated trading system is just what the name suggests. You just have to set it once and then it trades automatically. Opening the trade when the parameters are right and closing when the profit target is met. These automated trading systems are also known as Expert Advisors or Forex Robots. In the last two years, many good forex robots have been introduced. Some of them are real good and are giving consistent performance.
As I have said before, there are a few very good forex robots in the market now that are giving good results. But the only way to test a forex robot is to trade live with it. You can test it on your demo account too but the main difference between live trading and demo trading is the lack of emotions. Emotions are what make trading challenging. Automated trading systems have been developed precisely with the purpose of conquering human emotions. You see, when you trade, you are soon going to have emotions like fear and greed that are constantly going to make you nervous. On the other hand, an automated trading system does not have any emotions. It will do only what you have programmed it to do.
Let's come back to our main purpose of developing a forex robot trading system that can make $1 million in 2010. You can make $ Million in 1 year by just doubling your account every month starting with only $1,000. Doubling your account means making 100% ROI every month.Can you develop such a forex robot trading system? Sure, you can, I show you how in this article.
Do the search for the top 5 best forex robots in the market. Download the best forex robot. First check that it has got 60 days money back guarantee, this way you can test it RISK FREE for two months. Optimize it for one currency pair, let's say EURUSD in 60 days to give you 100% ROI.
Download, the second forex robot and do the same. This time optimize it for another currency pair suppose USDGBP. Do the same with the third forex robot and optimize it for a third currency pair suppose CHFUSD. These three different forex robots have been programmed in a different mannet by their developers. So they will trade the markets in a totally different manner. So using three different forex robots hedges your risk. Using three different currency pairs also hedges your risk. These three different currency pairs are not strongly correlated. They will have independent price action in the market. So three different forex robots trading three different currency pairs is going to reduce your risk of trading a lot while at the same time giving you a good return.
You can optimize the three different forex robots simulataneously or one after the other. It is up to you. Now, start trading live with the first forex robot by funding $1,000 in your trading account. By the end of the first month, it would be $2,000 with a 100% ROI. Withdrwa $1,000 from the account and open another account and start trading with the second forex robot using that $1,000. By the end of second month, you should start trading with the third forex robot with $1,000. Now, all the three forex robots are on fire trading automatically. Just monitor the system each day for 15-30 minutes. By the end of the year, you would have made you $1M!
Sunday, January 3, 2010
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