subject: Automated Forex System - Failure And Success [print this page] If you are new to forex trading business, you should first select a proper forex system. This will help you simply many things in this complicated market. Remember, you can not survive without these programs (collectively called forex system). This market requires operations 24/7 and there are huge calculations to make. If you are planning to do it all without the help from the automation technology, you are dreaming big time.
Once you have selected your program, you are going to enter the market confidently. You will start thinking that you have everything that it takes to make money from this market. However, you are unaware of the threats and the problems coming your way. Selecting even the right programs do not ensure success. There are chances that despite doing everything perfectly right, you might end up loosing all your money within first few trades.
The trick is to invest in carefully. You need to remain in total control. Do not take unnecessary risks. Invest a little chunk of your capital in one trade. Investing all your money in a single trade is not very intelligent. Also, be aware of the market situation. If the market is going down for a certain currency pair, you should exit the trade. Also, if you do not exit and enter the trades at the right time, a quality program will do nothing to save you from loosing the money.
You should also set the automation carefully. If you are not automating the programs the right way, they are not going to benefit you. Give them instruction about when to exit and when to enter trades. Do not automate them completely, rather, go for semi-automation. Give instructions related to the trading behaviour but do not let the program decide.
