What type of Automated Forex Robot Trader are you?
This is another in our latest series of articles. Understanding who you are as a trader is a very important element in measuring your success. Whether you are trading with forex robots or you are just doing some manual forex trading.
A good measure, something I like to do with all of my forex students is to find out if they are interested in short term gain or long term profit. Obviously we all want to win with our forex robots it just takes some time trying to figure out how.
For those who right away say short term profit, that is fine, that is alright. I know there are a lot of you that want to hit it big with your first forex robot and then quit. Sadly, this isn’t the state of the market, and really isn’t the state of any investment. There just isn’t money in short term projects unless your breaking into houses, which I do not endorse in any way.
So what you probably should start to focus on is finding a forex robot program that looks to update it’s systems regularly and add new systems. This type of approach is coming on strong in the forex market and is making back testing less and less important. When I first started trading the back test was everything to me, now it really doesn’t mean much.
While I still back test all my systems, the problem with this technique is that forex robot developers are smarter than before. They now update their robots and optimize them to current market conditions. This is a much better strategy because it allows us to win in the forex market, but because updates happen so often there is no way to use a back test, especially for years at a time.
I hope this article helped you understand the pulse of the forex market, and hopefully what type of automated forex robot trader you are.
Check to see our best forex robot reviews from all our testing here.