How to be a successful forex trader using Forex Expert Advisors – PART 1

Real Profitable Trading System

1. How to choose a forex trading system wisely

Many traders don’t spend enough time researching the EAs market. Sadly, the EAs market is flooded with SCAMS – 90% of EAs are sold by marketers instead of traders and developers. Because marketers know how to attract your attention with big words and promises, many people fall into this trap.

What should you do?

Look at the results, do not listen to words only. Backtests are good, but live results are the only thing that matters. Look for third party verified results – myfxbook.com is great for this purpose. Look for a long enough performance record – at least six months or more. Pay attention to the balance curve – if it is completely flat, STAY AWAY – it means that this is a “no-stop-loss” system, “martingale”, or just another reckless system!

A healthy EA equity curve looks like a nice market trend – it goes up, but has some corrections/drawdown periods as well. Look at the number of trades – less than 100 trades is not representative enough. As a final step, look around in forums to check up on the reputation of a vendor and its products.

Click here to see live results

 

About forexrobotblog

I have been a Realtor here in Miami, Florida for the last 10 years. Due to the housing bubble in 2008, I had to quickly reinvent myself. The new career I chose is to trade forex full time. My intention through this blog is to share ideas with you about my experiences in trading forex and to also collaborate with other serious forex traders. Feel free to contact me with any questions or comments you may have.
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