For Seek And Scalp Profits Test Forex Trading Robots Yourself
Foreign exchange day trading is no great challenge. Millions of traders are doing a similar thing during certain hours of the day. This is where forex trading robots have their use, they look at the trends, and are set to seek and scalp profits. While this is a relatively risk free way of building up reasonably large incomes over time, the challenge lies in finding a robot that will perform.
Forex traders all use different trading systems; however these do tend to have a certain predictability about them. For you to actually take on the challenge day trading is a bit of a bore as volatility in short time frames is completely random. There is also the matter of support and resistance levels which are not valid, and because of these the trader is able to make losses when using a robot instead of profits.
Day trading is actually a good wicket, and there here are a great many day trading robots for sale. They offer simulated track records which are back tested. But the only way you can tell forex trading robot will perform is to test it with real data in real time. This is known as a forward test! The forward test will allow you to see how the robot performs in changing market circumstances on a broker account.
You have to look out for certain factors when testing a forex robot, it has to be able to provide consistent, steady trades (more winning than losing). Sound money management which is vital in any foreign exchange trading. So it has to protect the equity in the account and there should also be no large draw-downs on the margin account.
Ideally these robots should be tested against one another during the same or similar market conditions, with and identical capital deposit amounts. This is the only sure fire way to receive a true indication of whether a product is comparable or not. For vendors to cash in on day trading by means of a forex trading robot, don't rely solely on the hype of historical price data and tested performance analysis. This is marketing speak from the people who sell these products. Be prepared to test and compare products yourself. - 23159
Forex traders all use different trading systems; however these do tend to have a certain predictability about them. For you to actually take on the challenge day trading is a bit of a bore as volatility in short time frames is completely random. There is also the matter of support and resistance levels which are not valid, and because of these the trader is able to make losses when using a robot instead of profits.
Day trading is actually a good wicket, and there here are a great many day trading robots for sale. They offer simulated track records which are back tested. But the only way you can tell forex trading robot will perform is to test it with real data in real time. This is known as a forward test! The forward test will allow you to see how the robot performs in changing market circumstances on a broker account.
You have to look out for certain factors when testing a forex robot, it has to be able to provide consistent, steady trades (more winning than losing). Sound money management which is vital in any foreign exchange trading. So it has to protect the equity in the account and there should also be no large draw-downs on the margin account.
Ideally these robots should be tested against one another during the same or similar market conditions, with and identical capital deposit amounts. This is the only sure fire way to receive a true indication of whether a product is comparable or not. For vendors to cash in on day trading by means of a forex trading robot, don't rely solely on the hype of historical price data and tested performance analysis. This is marketing speak from the people who sell these products. Be prepared to test and compare products yourself. - 23159
About the Author:
Before you begin online forex trading, please read John's fantastic ecourse and reports about Forex Trading Robots. Get the latest info concerning online forex trading. Click on MoneyMakingFxTrader.com to learn more.
posted by X - Men @ 1:51 AM
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