subject: Automated Currency Trading Ideas - The Most Effective Thing To Do Is Turn Your Daily Forex Trading On Automated Forex System [print this page] Automated Currency Trading Ideas - The Most Effective Thing To Do Is Turn Your Daily Forex Trading On Automated Forex System
Automated currency trading is important for the well being of a trader. I know when I entered this market, I was trying to make some more money. My goal, however, wasn't to add another 20 hrs a week to my already busy work life. Too many people jump right in to this market hoping to make a quick buck. Just an in and out kind of thing. This rarely ever happens for people and even if it does, you end up talking yourself into continuing to work for an even bigger reward.
Robert Kiyosaki really introduced me to the idea of "the exit". We don't start in this adventure into the forex market to add another 20 hrs a week to our already busy schedule. The idea of making big money than cashing out is a fallacy. First, it might never come. The second reason, you'll probably tell yourself that it isn't enough and if you just stick around a little longer it will be the "perfect time". This isn't a solution because it's just not practical. What you need is to develop an automated currency trading system that allows you earn "cash flow". Think about it. You don't need a million dollars. You can automate an income of $5000/mth, that means you can comfortably travel the world for the rest of your life. You can start retirement right away.
The most effective thing you can do is turn your daily routine of trading into a system. This is what automation is all about, systems. You can't exactly hire someone to do work, if you can't properly train them to do it. You have to have certain tasks and jobs that are repeated each and everyday. There needs to rules on analysis, so you know best when to make a decision.
The perfect automation tool is software. In this market, we trade an detailed analysis, which is just a fancy word for math. Computers exist to do tedious math work, so obviously having software to look at currency data is in our best interest.
I use the 10 Minute Forex Wealth Builder. I like it because it is automated and only takes around 10 minutes to actually setup. This tool works for both beginners and experts.
