Automated Trading With Forex Autopilot

Who hasn’t now heard of the FOREX market, the worldwide currency exchange, with a total daily trading volume of 1.9 trillion USD. Everyone who comes across it starts trading, and then it often goes wrong.

Trading on itself isn’t the hardest part, no, the hard part is, when do I buy, when do I sell. Literally in seconds the market can completely reverse, causing you to win or loose hundreds of dollars. For a newcomer to the FOREX market, this is very hard to understand.

That is why many systems are now around that allow you to automate your forex trading. These forex autotraders claim they understand the market, and can trade a profit from you. Their sales pages are normally littered with examples of how much money they made, and then a very thin line at the bottom reads “All results were with simulated trading”.

However, that has changed for me with Forex Autopilot. Of course I was very, very skeptical, but after hearing about it from other forex traders I decided to try it (also because they have a pretty darn good sales page). Purchasing was easy, and within minutes I had it applied to my forex account.

I am a natural skeptic, and believe me, I really am not easy to convince about anything, but Forex autopilot BLEW me away! Within hours, I was +700 with 4 TP trades, worth 200 each (well, 3 of 200, 1 of 100). And now, 5 days after starting to use it, I have a whopping $6800 profit.

Still skeptical against those automated trading systems, but really, Forex autopilot seems to be a good buy for your money!

Three Ways to Autotrade Forex

The world of Forex is huge, and very exciting, but can also be quite intimidating for those first venturing in for the first time. This is where it is really useful to sign up for an autotrade opportunity.

There are many services on the web that offer this type of service, some better than others. There are really three main approaches to autotrading Forex:

Forex Robots – this is a system whereby software automatically makes all trading decisions based on a certain formula such as scalping, swing trading or trend trading. You can have the software based on your own computer, which means that it has to be on, connected and running 24 hours per day. Or you can base the robot on a Virtual Platform, which you log into whenever you want. The robot runs fully automatically for 24 hours without interruption. This system has the least amount of human input – you simply set the software up, link it to your account, and let it run. The most talked-about example of this type robot currently is FAP Turbo, which claims to be able to double a trading account in a month. Data on their website seems to indicate that this is true, and there are plenty of forum postings from users that are doing well from the system.

Community based autotrading – a system whereby real human traders make the trading decisions. You can log into the system, and do your research to find the most successful trader. You can then choose to have that trader’s signals applied to your broker account. The system is totally anonymous – the trader does not know that you have selected him. If his system goes bad, you simply drop him and pick someone else. or you can spread your risk by having your account traded by several traders that you have picked for yourself. This system has a moderate amount of user input – a user has a full control over the selection of signal providers, and can change them at any time. Once a trading system has been selected and applied, the account is traded automatically. A good example of this type of system is that provided by Zulutrade. Started by two brothers from Greece, it has hundreds of traders and users, and can be applied to accounts with five different brokers.

User controlled Forex robot – in this system, the robot picks the trades, and the user selects the trades in which he wishes to participate. This system requires the most user input and attention, because the user must be connected and online in order to make timely decisions on picks generated by the robot. A good example of this is FX Automoney, which has three service – intraday, daily and weekly. The system can be fully automated, if the user selects that option.

Autotrading Forex is a useful alternative for those who lack the knowledge or experience in Forex trading, or for those who do not have the time to devote to sufficient technical analysis or to monitor the news and world events. Selecting the right approach and the best system needs research into results and performance, as well as an understanding the systems and strategies involved.