Automated Forex Trading Systems - 4 Essential Facts You Need to Know Before You Buy

Automated Forex trading systems are big business online but before you buy one, consider these 3 key facts and they will help you choose the minority that win, from the vast majority that lose...

Here are the 3 essential facts you need to help you choose a good Forex robot.

1. Check the track record is Real

How do you get a system that has a better track record than the world's best fund managers and sell it, for a mere few hundred dollars or less?

The answer is simple - make it up.

It's a fact that most Forex robots simply run a simulation over historical data and make up the track record. Of course anyone can make money if they knew where prices closed in advance but when you trade for real you don't know this key fact!

There are some that present (what they say) are real results but pass them by, unless they have an independent audited track record of at least two years.

If you ignore these track records, you have got rid of at least 95% of the automated Forex trading systems sold online.

2. Check the Vendors History

You always see the system has been developed by a geek, wiz kid, ex broker or banker but look for confirmation. Someone did this on some of the most popular systems and showed that the so called developer, had been hired from a site of actors! Be careful and don't get taken in by the hype.

3. Check the Logic

If you are going to follow any Forex trading system, you need to be confident in the logic so check that you agree with it. If the logic is not revealed (even if the system is successful) pass it by.

You need confidence in the logic to follow the system with discipline through losing periods.

4. Check out the Support Offered

A system can be good and can make money but if you cannot operate it, then you can't make money! Check the level of support offered by the vendor, before buying any trading system.

Follow the above checklist and you will be able to find the automated Forex trading system which is right for you and can lead you to currency trading success.