If you've been into Forex trading for any time at all , then you already know that the number of automated trading systems available to you is near mind blowing.
I mean, it looks like every other day a new Forex trade bot or automated trade indicator is coming out on the market, each one promising a staggering amount of riches for little to no work.
So how do you know which systems will REALLY work, and which ones are just promotional hype ? Well, that's what I'm here for!
By the time you've finished reading this article, you'll know:
- What criterion should you use when judging a trade robot
- How you can find out for sure which automated system will make you the most money
- My own recommendation based on the experience of both myself and other successful traders
If everything looks okay, then let's go ahead and get started!
Which Automated Forex Trade System Will Make You Filthy Rich?
Below I'll be talking about what criteria you should use when picking out an automated trading system. I'll list the 3 qualities you should most look at or the things you should do before you make a decision and buy a trade bot.
# 1. If You Can, Get Recommendations (Otherwise Read Reviews)
The only way that you'll REALLY know if anyone's making money with a trade system is if you know someone else who already has and uses the system. If you have any friends or acquaintances who've used the trade system you're looking at, then do not hesitate to ask them about it.
Real life examples will always trump any other recommendation. If you KNOW that someone else is making money with something, then you better believe that you can too.
If you really do not know anyone who you can ask about Forex trading, then you'll just have to rely on online reviews.
# 2. How Transparent is the Vendor?
You know how there's the old stereotype about used car salesmen and how skeevy they are?
Well, the same stigma holds true for many of the folks launching Forex systems … They KNOW that there's money to be made in the currency trading niche, so they'll try and tap into it by launching a crappy product but making it look really pretty.
Therefore, you should always look for reliable PROOF that the vendor stands behind their product .
For example, if there's a trial offer available, then that's a great way to know for sure that the vendor is confidant that they've made a good system. Knowing you to effectively 'try before you buy' is an honest thing to do.
Alternately, along the same vein as # 1, if you know anyone who owns the particular system you're looking at, then you should really do your best to actually try it out.
If all else fails, at least look for demos on the sales page that let you see the system in action.
Usually you can trust your gut on things like this. If a vendor is really just desperate for you to get your wallet out, then you'll probably be able to tell from the sales page.
# 3. Steve, Which Automated Forex Trade System Do YOU Recommend?
As you already know, an automated Forex trader is one of the best investments that a beginning / intermediate Forex trader can make. A good system will let you sit back and relax while it makes a few profitable trades per day.
Here are the 3 criteria I used to make my recommendation:
- Honest Vendor – You can see real proof of results in the form of a demo – OR – You can 'try before you buy'
- Social Proof – You can rest easy knowing that thousands of other traders already use the same system successfully
- Actually Makes Money – You obviously want the system that makes you the most money, right?
Now, I've been in and around the Forex currency market for quite some time, and I've seen both bad and good systems come and go. As such, I feel that I can confidently stand behind this system.
However, there are 2 automated trade systems that really stand out: