9 Things You Need From Any Forex Auto-Trading Software

By Richard U. Olson

If you, like a lot of others now are considering taking up online Forex trading, you may well be interested in a solution which allows you to make Forex trades while you sleep, work, even while you are on vacation! Technology has advanced, making software which was once thousands of dollars as cheap as $100. You can put this software to use right away using the industry standard trading platforms which are used by Forex brokers worldwide. Thanks to automated Forex trading, experts and newcomers alike are able to maximize their online Forex trading profits.

What you can gain from automated Forex trading software?

- Automated Forex trading robots can trade around the clock in all of the popular currency pairs and this is impossible to do manually.

- 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 modeling (Fibonacci formula) and previous market behavior, 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 are features which any automated Forex trading software you are considering should have. There's a lot of confusion out there about software, especially among new traders. You should never by automated Forex trading software which does not meet these 9 criteria:

1. The ability to analyze market conditions to give you the information you need to make profitable trades.

2. Mathematical modeling of market movements should be used (the Fibonacci formula) to make trades which have the best chances of being profitable.

3. The software has to have an integrated system of money management which makes the decision which ensures you profitable trades even in unfavorable market conditions

4. The trading software should know precisely when to make trades in order to make you the maximum profit. It needs to be able to identify trends when looking at the big picture.

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 is user-oriented and follows the "Keep it Simple Stupid" approach for effective and profitable trades.

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. - 23211

About the Author:

Richard U. Olson recommends the state of the art Forex Autopilot System that he uses to make consistent profits in the Forex markets. Grab his FREE e-course on Forex Trading Tips to achieve your financial freedom.