After trying several forex trading robots I've found that this one works wonders: forexrobot. It won't win every trade but it will make you profit in the long run, last month I made around $2000. I've been trading for about 3 months; first month was only $500 but of course that compounds over time. See for yourself.

Some general tips...

1. Don’t Gamble

Gambling is a lot of fun… except when you lose money and lose money you will if you just trade on ‘gut feeling’. In a sense, forex trading IS a lot like gambling only with forex, you can tip the odds in your favor provided you do sufficient research.

2. Never risk more than you can afford to lose

Ideally, you should only trade with 2-3% of your account. It sounds small, I know, but over time that 2-3% compounds into a very decent amount, that is, provided you make the right trades. You shouldn’t even think about trading a big percentage of your account unless you really know what you’re doing – just the fact that you’re reading this guide makes it safe for me to assume that you’re not quite there yet.

3. Trade without emotion

When you design a trading system, stick with it no matter what. The most common mistakes when people trade with their emotions is to either add more money to losing trades to chase their losses or pull out early of winning trades to ‘quit while they’re ahead.’ In the long run, this is not a good practice.

4. Follow the trend

The general rule of thumb in forex trading is to follow the trend unless you have a good reason not to, this analysis of trend is known as technical analysis, which brings me to my next point.

5. Craft a trading system to suit your particular style

Some people prefer trading with short term trades using technical analysis. For technical analysis, I highly recommend investing in some sort of forex signal generating software, it’s worth it. Others, by contrast, prefer trading with long term trades using what is known as ‘fundamental analysis’. Generally speaking, this involves a considerably broader analysis looking at things like the overall strength of a country’s economy and the factors that might influence it in the future. Needless to say, this involves a considerable amount of time and research. The best traders employ a combination of both technical and fundamental analysis.

6. Trade with a practice account to begin with

The forex market is a complicated place so you should always trade with a practice account before you risk real money. Wait until you’re making a consistent profit (say, over the course of month or two) before you open a real account.

forex trading robot

1. Find the right forex robot. A lot of these so-called 'automated' robots out there are nothing more than a mish-mash of indicators thrown together into an incoherent mess and slapped with an exorbitant price tag. At the other end spectrum are indicators that are simply inaccurate. Of course these snake-oil salesmen are GREAT at covering themselves so you'll always find some overarching disclaimer saying something how the system won't always work. Granted, even the best system (and there are a few great trading robots out there) won't make you any money if you don't use it properly, which brings me to my next point.

2. Use the forex robot like it was supposed to be used! Really, folks, I can't stress this enough. You have to remember that the forex market is a complicated place (even with a forex robot), it's not simply a matter of clicking a button and making thousands, though it still is relatively simple if you find the right forex robot. Therefore, it is IMPERATIVE that you follow the instructions of the forex robot to a tee; the slightest deviation could rob you of precious profit.

3. The third, and probably the most important step is: focus on long term profits, not short term losses! Most people buy forex trading robots with completely unrealistic expectations, expecting to win every single trade. Remember, no matter how good the forex trading robot it isn't magic, a good forex robot can only tip the odds in your favor, so focus on long-term profits, like over a month or so. For instance, with a good forex trading robot you might win $1000 and lose $700.