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.
No comments:
Post a Comment