This question will determine whether you are likely to win or burn your cash quickly.

What is Your Trading Edge (defined) that means you can enter the elite 5% of winners?

Simple enough question – but I am shocked and amazed, at the answers I have been given at forex trading seminars, when I have asked it to pupils. Here are some common answers and there ALL Wrong.

- I bought a forex robot with a simulated track record

- I am trusting a guru to give me success

- I trade breaking news

- I have a system that predicts the market in advance

- I am day trading and scalping to keep risk low and profits high

- I am clever so bound to win

- I have a complicated trading system and its better than a simple one

- I work hard so my effort will be rewarded

- Buy low sell high is a great way to make money.

If you believe any of the above is an edge, your in for an equity wipe out.

A forex trading edge is something that is based on a logical assessment of how prices move and a simple robust currency trading strategy is applied with discipline.

If you want to win at currency trading, understand success comes from within – no one can give you success and you must have ultimate confidence in what your doing as you are going to need the discipline, to keep going when your losing until you ht a home run.

The Right Education and Mindset = Success

Forex trading looks easy and anyone can learn to do it, where most traders go wrong is – they believe myths and can never trade through a losing period, because they don’t have confidence in their edge to deliver them long term gains and they throw in the towel early.

If you want to win at currency trading, you need an edge and the confidence and discipline to apply it – so get the right forex education and mindset and your all set for success.

The programming language is used to create these expert advisors to either trade the market automatically or to monitor the market for specified trading signals that are then used to trade manually. The robots generally monitor well-known indicators or a combination thereof in order to trigger potential trading opportunities.

Ok – that was a bit technical! Let’s take a breather!

You really do not have to be bothered too much with all the technical “back-end” workings of forex trading expert advisors. What is more important is to understand how to choose the best robot to maximise your profits.

Very simple robots using only a few basic indicators can assist you with understanding the basic workings of using expert advisors as part of your trading strategy. More advanced robots, which are promoted by well-known creators, provide a vastly different perspective on forex trading as these robots can essentially completely automate all your trading efforts.

That’s correct – in theory, you can actually leave these more advanced robots on autopilot to trade currency pairs with virtually no manual intervention. This is a very viable option for the novice to “medium-experience” trader, especially where you have time constraints due to family or other work commitments.

The most important thing is to choose correctly. Choose a forex robot that has been thoroughly tested and has a good reputation. You will easily gauge from browsing the internet which robots are worthwhile investigating and which ones are not. I have found that free robots can generally not be recommended.

But above all, gain knowledge about forex trading before committing hard-earned money. Make sure you understand the risks and view forex trading as a serious business just as you would any other – even if you are only a part-time trader.

We are continually testing popular robots at FXTradingReviews.com.  Also claim your free e-book by clicking here.

1. Maximum value of losses you get during the test of your system. Avoid any system that gives significant drawdown in a single trade, for example 20% of your trading account.

2. The maximum value of profit you get in a single trade. If there is one trade that gave you profit that greatly exceeds the average profitability of the system exclude such a trade. Probably that was just a coincidence. The maximum loss can also be a coincidence but you cannot exclude it since it can be fatal to your account.

3. The next value is the average profit to loss ratio per trade. By average I mean the sum of all the profit divided by number of profitable trades. The average loss is sum of all losses divided by the number of losing trades. You want this parameter to be around 2:1. It actually can be smaller.

4. Win to lose ratio is your next parameter. It is the ratio of total number of profitable trades to the number of losing trades. If you have profit to loss ratio 2:1 then win to lose ratio can be 40% and you can still make money with this system. Usually win to lose ratio rarely exceeds 60%, even though there can be some exceptions. I would like to emphasize that these parameters are for pure mechanical systems when trades are executed based on formal signals of a trading system. For an advanced trader who takes discretionary trades this parameter becomes more individual.

5. The maximum number of consecutive winning trades and maximum number of consecutive losing trades are our next parameters. I explain why these numbers are important. When we start trading the system and number of winning trades approaches the maximum we will expect a losing trade. Knowing these parameters will allow us to avoid overtrading by increasing our lot size because of euphoria from a winning streak. If the number of losing trades exceeds the maximum number then it’s a sign that market conditions are changing and we need to adjust and test the system again.

6. The frequency of signal generation. High frequency will require executing trades very often. That can lead to discomfort and nervousness. On the other hand low frequency will lead to low profitability of the system. Which one you chose depends entirely on your personal preferences.

Based on these six parameters you can test trading systems and pick the one that suits your personality.

Forex Automoney is a trusted signal service which has been providing it’s members with automatic signals for the past 7 years.  The expert traders, mathematicians and investment experts at the company developed the trading system by creating an automated software which analyzes the market and, using complex mathematical analysis, is able to predict, quite accuratly I must say, future market conditions & trends.

The Membership

As a member based site, Forex Automoney provides an exclusive membership to everyone who signs up for the service. This allows you to customize your experience, set your own trading risk level, profit potential & specific strategy.  Members also have easy access to customer service, Forex education materials and special graphs & charts which point out probable pivot points and breaks in the trend so you can trade like an expert.

The Choices

Once you become a member with this trading system, you have a lot of choices.  You can select how often you trade, how the signals are delivered, which type of Forex education(if any) you would like to have and which currency pair you prefer to trade. Forex Automoney trades every major currency pair on autopilot so your options really are open.

The Signals

It’s time for the most important part, the trading signals.  Forex Automoney’s advanced software delivers signals that tell you when to enter a trade & when it’s time to get out with your profits.  The signals are easy to follow, even for traders with little experience, and there are several methods of delivery which are all explained once you’re a member.  Along with ease of use, accuracy is a huge part of the Forex Automoney experience. The signals are very accurate as well as profitable and, unlike with other trading systems, this accuracy is consistent across currency pairs.

The answer is simple – because forex markets don’t move with mathematical accuracy and if they did, we would all know the answer in advance and there would be no market!

Why You Cannot Predict Forex Prices

It’s a fact that you cannot predict markets in advance and all the people who say you can are wrong. You will see numerous forex robots that tell you can trade on auto pilot and win all the time – but they base there assumptions on a back tested track record – that means knowing the closing prices.

All they do is bend there system to fit the price sequence and make a profit. In real trading though, the same price sequence never repeats again and the system loses and you cannot bend the system rules going forward.

Learn the Odds Trade them and Win Big

Forex trading is an odds game – sure you can’t trade with mathematical accuracy but you can make money just like a successful poker player does. He doesn’t win all the time and has losing periods but he knows, if he plays the odds and uses sensible money management he will win.

Be Complex and Clever and You Will Lose

Complex theories are developed and used all the time but it’s a myth that a complex theory will beat a simple one – it won’t. Simple systems work best and always have because they are more robust with fewer elements to break.

Think about all the advances in computers software and theories, we have had in the last 30 years yet, despite all these advances, 95% of traders lost money in yester year and they still do today. Advances in technology and forecasting simply didn’t change the odds.

This shows that you don’t need to be complicated to win.

Keep it Simple and Win

Forex trading doesn’t require that your clever or make a lot of effort – it requires you to use a simple robust system which you understand and will have the discipline to trade through losing periods, with good money management, until you hit a home run. Its discipline to apply a robust system that’s the key and the system can be very simple

Forex trading is an odds game and will never change, so keeping it simple is the best way to trade. Don’t complicate something that’s simple, accept it and build your forex strategy around the odds and you will achieve currency trading success.

There are a myriad of forex trading robots on the market, that claim to have undergone a series of extensive tests which have produced satisfactory results therefore they are marketed as absolutely effective in producing consistent profits. But which are the Top Forex Robots?

The answer is not that straight-forward. The most important factor to consider here should be the main difference between the manual versus automated trading systems.

The most attractive option therefore, for the amateur forex trader, is to trade with automated forex robots. However, when choosing the Top Forex Robots for your use, it is imperative to think about how to best maximise your trading profits.

The most prudent (but possibly not the most effective) way to ensure that you choose the Top Forex Robots is to actually buy these products, make sure you understand how to install them and optimise their settings for your chosen trading platform (for example Metatrader) and to do extensive back and forward testing on various settings for the various currency pairs.

This process appears to be simple. However, it is costly, extremely time consuming and possibly do not provide the desired level of comfort as the user is always inevitably drawn to (and biased towards) a specific product, principally as a result of the promises made and sales pitch of the creators.

Possibly the most effective way to assess which are the Top Forex Robots is to visit and subscribe to reputable websites where the Top Forex Robots are reviewed, extensively tested, and detailed comparisons between the various forex robots made and regular updates provided.

The benefits of this approach is a significant saving in costs, (someone else doing the research and comparisons on your behalf saving you lots of time and effort) and also you are always abreast of the latest developments in forex robots.

There are top 5 forex trading robots:

1. FAP TurboFap Turbo took the industry by storm when it was released on 25 November 2008. The creators of Fap Turbo promised to deliver the most advanced Forex trading robot there has ever been on the market and so far they have not dissapointed the thousands of traders that were eagerly waiting for the launch. The reason why Fap Turbo is so popular is the fact that it offers a system that is more profitable and safer than the famous Forex Autopilot.That is exactly what the market wanted.

Instead of using backtesting reports to proof how profitable their system is (like everyone else does), the Fap Turbo creators have so much faith in their product that they publish real time statements of their own live accounts on the Fap Turbo homepage for everyone to see.

Another thing that is very unique about Fap Turbo is the long term commitment of the developers and owners of the system. Fap Turbo is definitely not a product that will just dissapear.. it is here for the long run and the creators are very committed to help every one of their users make money in the future

2. Forex MegadroidForex Megadroid was launched by Albert Perrie and John Grace on 31 March 2009 and the buzz around this product launch was almost as big as the Fap Turbo launch last year. According to the creators, Forex Megadroid uses a new technique called Reverse Correlated Price and Time Analysis which they guarantee that for every dollar you deposit into your Forex account will be at least quadrupled.

Another unique feature about Forex Megadroid is the built in broker protection feature. There is a widespread belief that most Metatrader brokers trade against their clients and that, coupled together with things like high spreads, offquote errors and slippage, it has become very extremely difficult for a trading robot to consistently make a profit. Forex Megadroid is the first robot ever to be released with a broker protection or anti-broker mechanism.

3. Forex AutopilotForex Autopilot was one of the first commercial Forex Trading Robots to come onto the scene and it was by far the most popular product on the market before the launch of Fap Turbo. This forex robot uses various different indicators to identify trends on the EUR/USD currency and the result is an extremely accurate system that has a success rate of more than 90%. One of the big problems with Forex Autopilot is the fact that trades can sometimes go into large drawdowns of up to 500 pips and more. This does not happen often, but it does happen.

4. Forex FunnelForex Funnel is another automated Forex trading system like Fap Turbo, but with one major difference – it uses a much more high risk/high reward approach to trading. Forex Funnel uses a varient of a famous gambling strategy called the Martingale principle in it’s trading approach.

When used in Forex trading, the strategy effectively has a 100% success rate, meaning there are no lost trades, but there is also the risk of losing your whole account on one trade if you don’t have enough capital to work with.

5. Pips LeaderThe Pips Leader Forex robot is not as well known as the other products on this list.The Pips Leader robot uses a “basket trading” strategy, which can be extremely profitable and low risk if you understand the margin requirements and enforce strict money management rules. The core of the Pips Leader system relies a lot on hedging, so make sure that you select a broker that allows hedging before opening a live account.

Pips Leader can have up to 30 open trades at any given time and the key to success with this system is to understand the margin requirements.