To see the need of automated forex trading software lets try first to see the problems that may face you trying the manual trading process.
In the manual trading process there are two elements that will cause you lose money or in the best case will prevent you from profiting. The two elements are fear and greed.
Sometimes your fear from losing the money invested in the trading account, can and will prevent you from opining deals that can make you double or even more the money you have in your trading account. Forex traders by mistake think that if they can identify factors from outside the market (like news, events, or industrial announcement) they can predict the direction of a given currency pairs and they can predict a signal in the market.
It’s a huge mistake because the money made in forex trading will be earned from ordinary forex behavior; dramatic changes in the forex market could be easily identified but are very risky at the same time.
Before gambling on big changes in the market, you need to know how to make profits from small changes that happens all the day in this market.
Greed also will cause you to lose money instead of profiting; you can easily understand this element. Sometimes you can detect an upward (or downward) signal, and open a deal fast. Then you will see your deal starts to make profits and your profits increase with the time. Greed will then prevent you from closing this deal with the profits that have been already made, and you wait to make more profits. Then the signal will start fading and even could change direction.
Even if you know exactly when to stop losing and when to take profits, it does not mean you will do it.
In the other hand automated forex trading software does not feel a thing, with its mathematical algorithm it can identify signals and calculate the stop lose and take profit parameters.
Experts in the forex trading market categorized effective automated forex systems into two categories.
Advanced software like the Authur Automated Bank Trading System. This kind of systems are used by advanced traders with large accounts, they are the big dogs in the forex market and they don’t have a problem investing $10,000 in automated forex system such as Authur.
The second category is the amateur and newbie’s automated forex systems (known also as expert advisors and forex robots). This kind of software is simple to use even if they were created with sophisticated mathematical algorithm. The perfect example for such systems is the IvyBot that was created by the graduates of Ivy League Universities.
With a simple search on the internet you will end up with hundreds of automated forex trading systems. The majority of those systems are hype and don’t work at all. But certainly you can find systems that work fin and can deliver good profits from the forex trading market.
A survey that two forex brokers mad to find out what are the best and popular automated forex system, so they can associate their users with it had revealed some of the most popular automated forex trading software and what ordinary users have to say about it.
Here is a table that shows some of the results.
Forex fap turbo is the most popular automated software. Its 100% automated with %200 profit average.
| 68% of users are satisfied with the results, 6% could not properly install and use, 17% were disappointed from its performance. | Our comments.
We also rank FapTurbo as the best most popular forex software; it can guarantee 200% increase in the trading account which means 100% profits, can trade with the major currency pairs and its easy to install. However their support takes time to answer and they don’t share all their advanced settings. |
Forex Megadroid its second in popularity, also 100% automated but can be very helful with manual trading. 300% profits from deals traded.
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| 72% users were satisfies and all the rest said it does not work at all. | Our comments
Forex megadroid is very simple software that works with USD/EUR currency pair, there is a pro version that trades other currency pairs but was not so successful like the regular one. It trade only with obvious signals that’s why it can reach up to 300% profit, but it’s also not a good thing because it could open very few deals in a weekly range. That’s why we think a lot of users said it does not work |
Forex rebellion the third in popularity with 120% profits.
| 61% satisfied users and 23% said it does not work at all and the rest said it does not make good profits. Most of the users liked the bonuses and said that the whole system is great and helpful. Very risky some times | We have experience with this software |
Forex IvyBot also 100%automated
| only 58% of its users were satisfied 28% could not install it properly and the rest were unhappy with the performance. Most users comment as they expected more of this software than they gat, they don’t regret having this software but it require so much time to understand and configure correctly. | Our comment
This is s very powerful automated software with profits that can reach up to 500%, however you need to fully understand it and configure the setting. Some settings are very essential and must be set to best performance even if it means high risk. The support team is very helpful and will answer fast. You must use the support team and don’t hesitate to ask for their help to install the software to its highest performance. |
Forex autopilot
| With 47%satisfyed users, 34% said they like it but they need more money in the trading account to get the maximum of it, the rest were disappointed and said it take long time to generate small profits. It can reach 100% exponential profits (the more invested the higher the percent can reach). Very easy to setup and run and the $500 gif is a great deal. | We also did not try this software but as mentioned, it offers a great deal worth considering. |
There are other automated forex trading software that were not worth mention at all, others that are very advanced like Authur and users of this kind of software are very hard to reach.
There are 2 important tips I want to add to those of you who want to have an automated forex system (expert advisor).
You need to probably install the software, most of the cases its really easy, but sometimes traders had no experience at all with computer application, but all software we discussed have a very clear and easy to follow manual. However contact the support, or the owner for any help required or question no matter how stupid you think the question is. Some of them could take them few days to answer but they will.
Another issue is that the automated forex system is working in your own computer, so when your computer is turned off or the MetaTrader 4 or the trading platform is not launched the software is not working. Any problem faces your computer like crushing down; losing connection to the internet or virus attack could have very bad results in your trading and could cost you money. A simple example is when your software opens a deal and the computer shot down, the software then will not be able to close the deal in time, and by the time you restart your system it will be too late.
The best solution to this problem (and most advanced forex traders are using this service) is to host your software on a hosting account. ForexHoster is a good hosting for your forex trading. It provides you with MetaTrader4 pre-installed in your account with any broker you prefer. And you can easily upload your trading software.
With ForexHoster you can run a 100% automated forex trading system 100% of the time trading available, and you will be able to access your trading account from anywhere anytime, even from your mobile phone.
Forex trading can be a unique opportunity for anyone to have a profitable online business, and automated forex trading can guarantee you profits from this business. So if you want to be a forex trader, take this business very seriously and it will be wise to consider at least one automated system.
I know that some forex traders like the manual trading better, maximum they use a forex signal provider, because of the excitement and the feeling that they have accomplished something by their own. But I don’t agree when it comes to losing money. If you want the excitement you can trade the forex manually but as extra deals from those managed automatically.
Wish you success and prosperity.
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