Table of Contents
- 1 How to Automate FX Trading in 6 Simple Steps for a 1000% ROIs
How to Automate FX Trading in 6 Simple Steps for a 1000% ROIs
Step 1 – Select a relevant (perfect) Forex broker
We have done endless research for you guys to try and find the perfect broker and the truth is there’s not 1 perfect one but the best at the moment are still ava and etoro. Our full research and reviews on the top forex platforms and brokers is here. Just find a broker that gives you a good start up offer and you like the interface, past that they are all quite similar anyway.
Step 2 – Understand how Forex works without automation
Unless you know what your doing without automating the process, do not try to automate any trading of any sort, not least forex trading! Automation is for the individuals already competent with trading currencies and making a profit in the process. If you are a beginner then you can check out the beginners guide to trading on the site or our intro section.
Step 3 – Leverage
You will need at least 100,000 of your given currency to trade (to make it worth your time). So if you have £1,000 you must generate a 100:1 leverage. Leverage (as you should already know) is an increase in the amount you can trade, usually given to you by your broker. Quick example of leverage and the power when it comes to return on investment and percentage gains is below.
Step 4 – Robots (The Automation process)
This is why step 1 was of optimal importance and why I recommend checking our list of the best FX softwares to ensure you get a platform that supports or at least allows you to use robots. Once you’ve signed up and deposited to your selected platform, confirmed your leverage amount you’re ready to go.
The next step is to pick up a strong, reliable trading robot, you want something with solid long term results and not just “anything new” that is on the market. We have a guide on the top forex trading robots here too. But if you want to get started straight away I would recommend this robot, simply because of the history 14,000%+ over 5 years, all tracked, can’t argue with that.
Step 5 – Track + Time-scale
Although the process is automated you must ensure you track your progress. This is also why the time-scale you decide to choose is so important. Small fluctuations when you have thousands on the line can equal large profits or equally large loses. You should always know how much you can afford to lose as well as how much margin and percentage return you want from every trade.
Step 6 – Aim small and take mini profits
My final piece of advice is to aim small and take smaller profits but more frequently. This is why leverage is so important. Making £500/$500 per day by Forex trading is pretty easy when you have £10,000 + your 100:1 or 200:1 leverage to trade.
So what are you waiting for? If your looking to automate the process of trading you have to pick 1.) An appropriate platform to trade and a trading robot to do it for you.
Thanks for reading.