Introduction of Automatic Forex Trading Systemsby Bestprice Digital CEO
Automated forex trading systems are well touted as a way for novices
and experienced traders to eliminate emotional decision making and mental
problems from trading. In reality, even the best forex trading systems still
have many emotional and psychological traps that can hinder traders' automated
forex trading operations.
There are three fatal Forex mistakes that can hinder the success of Forex Auto Trading and Forex Robot Traders, and at the end of this article, identify these fatal mistakes and remove them from Forex Auto Trading. I can.
So where do most automated Agimat FX Ultra 2020 trading systems fail? Believe it or not, most Forex robot traders actually lose money because of the person running the Forex robot trader, not the person who actually developed it. This failure is due to a mistake made by the operator of the automated forex trading system, but is affected by the following psychological factors:
Deadly Mistake #1: Greedy
The first fatal mistake that prevents most forex traders from realizing the full potential of an automated forex trading system is greed. Many Forex robot operators allow the operator to adjust the system's cash management rules depending on the account balance and the level of leverage available.
Greedy causes many traders to make an error based on a trading lot size that is too large for their leverage level, often leading to rapid removal of trading accounts. When sizing your Forex robot trader's trading lot, don't fall into this greedy trap and make a mistake on the security side.
Fatal Mistake #2: Impatience
The second fatal mistake that prevents most forex traders from realizing the full potential of automated forex trading is impatience. Once they get their forex robot operator, they can't wait to load it with real money and immediately start their forex trading.
This violates the basic business rule of always prioritizing capital protection. Every automated forex trading system should first be tested with a demo account to see the results announced by the developer and familiarize the user with the correct forex robot operator application.
Deadly Mistake #3: Fear
The third fatal mistake that prevents most forex traders from realizing the full potential of an automated forex system is fear. This is closely related to error n. #2, Lack of live demo testing before starting automatic forex trading. Without experience trading Forex robot traders on demo accounts, sellers tend to close Forex robot traders prematurely and return them for a refund, without knowing what to expect from an automated Forex trade.
To avoid missing out on profits from a fully functional Forex robot operator, each operator must determine the basic parameters of the system (eg, average profit/loss, standard deviation, upper range limits, etc.). You need to trade in your demo account for at least 30 days. / Less than).
Are you making one of the three deadly mistakes of greed, impatience, and fear? In that case, stop the transaction immediately and take the necessary steps to correct these errors before continuing. Otherwise, your business account is at risk of serious explosion.
Created on Jul 28th 2020 12:59. Viewed 230 times.