Ever since automated Forex trading robots first hit the markets there has been much discussion about which one is the best to buy. Why settle for just one? Here are some of the latest tips for putting together a robot trading portfolio that will get results.
Even though many experienced traders feel that their own manual trading skills far surpass the abilities of the automated robot traders, many still use an Expert Advisor to support their trading activities. These Expert Advisors, EA for short, can make trading easier and more profitable when used correctly. But because each is different, serious traders are using more than one at a time. And, not just two, but also often three or more.
When you consider that an EA such as Forex Megadroid or FAP Turbo, two of the best top sellers, actually use different trading strategies, it makes sense to use them both, rather than worry about which one is the best of the best. It is really an attempt to deal with the changing market conditions that typically exist in Forex trading. And, it is the understanding that some robots work best with different parts of the market cycles.
Excellent traders insist that the first thing you should do is to find the Expert Advisor that conforms to your own trading strategy. Don’t ever expect that you can set your robot and forget it. Interact with it as if it were a human trader supporting you.
Make certain that you already understand your own trading strategy. Then use your trading robot to support it. If one robot supports part of what you do, then use another robot to support the other part of what you do. Every trader is different.
Make a strict plan for how you will trade realistically for the day, or the week. You want to decide in advance how many pips or dollars gained or loss per day or week you will use and accept. Stick to your plan once you have set it. In this regard, you must be as strict with yourself and your robots as if you were gambling in Las Vegas. Once you meet your goals for the time period, simply stop trading.
How do you choose your own Forex robot portfolio? Start with visiting the product websites for the ones that interest you most. Interview the robots as if you were interviewing a new employee for your business. The best of the best will let you try them out for free with a 100% money back guarantee. You can run them in demo accounts to carefully observe how they trade. Then, add each robot to your portfolio based upon your own trading needs.