There are plenty of different Forex systems one can use which promise to make you rich. However, it is important that you spend a little time doing some research into the various ones available and to read as many Forex system reviews beforehand. This is a great way of preventing you from wasting money on a system that promises but delivers very little.
If you carry out research beforehand then you will be far better informed and so make a more sound and informed decision as to which system you should buy. There are plenty of systems available but the automated ones are proving very popular these days and come with a wide number of advantages.
1. Firstly with an automated system you will have removed the fear that you will often experience when you are trading live using a manual system. These systems not only allow you to trade on a consistent basis but you don't have to hesitate before you make a trade.
2. Next you don't actually have to be present when the system is trading for you. So the chances of you missing out on trading opportunities have been greatly reduced. This in turn means the chances of you making a profit are greatly increased.
3. If you feel able to you can actually diversify your trading by using a number of systems. Doing this you are actually spreading out the amount of risk you are taking and helps to keep your equity line more equal.
In order for you to use these automated Forex systems you need to have an Mt4 Trading Platform. Once this is installed on your PC then you are ready to down load the system you want onto it as well. Below we take a quick look at two automated Forex systems that are worth considering using.
Shark EA Automated Forex System is designed to watch 12 indicators, pivots, fibs, and support and resistance levels on a number of time frames in order for it to make a trading decision. Each trade that it makes is secured by a fixed stop loss and on average it will carry out 2 trades each day and comes with a win ratio of around 85% on all trades made. It enables you to set the level of risk you make on each trade and it is recommended by the designers of this product that you set it between 1 and 3% of the equity you intend to invest.
Griffin EA Automated Forex System in an intra-day one and again will make between 1 and 2 trades for you on each trading day. However the percentage of win ratio is slightly higher than that for the Shark EA system being 89% but it uses much higher time frames to be able determine in which direction the market is moving. As with the Shark EA system there is a fixed stop loss setting and you are able to determine what percentage of your equity you wish to risk. With this particular system it is slightly higher than the Shark one being between 2 and 4%.
Above we have given you details of two automated Forex systems that people are now using to trade in this market. However, it is important that whether you use a manual or automated Forex system that you spend time researching each one you are considering. There are plenty of sites online where you will find good quality Forex system reviews to read and digest.
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