Automated Trading is the next revolution in trading: a system that can trade Forex and other assets automatically by sending trading signals directly to your account. The good thing is there are a lot of Automated Trading systems available and more on the way. On the other hand, there are a lot of bad systems available. Here are ways to find the best.
Go to a automated trading exchange, like Collective 2 or Strategy Exchange and review the systems.
Pick systems that have long-term success. Anyone can develop an automated trading strategy that makes money for a month and then blows up.
Find a system with small rates of slippage. Slippage is when a system loses money before it starts to gain. Too much slippage can wipe out your account.
Avoid excessive trading. A system that produces solid returns but conducts a high amount of trades is likely to lose money, or limit your return through trading fees and commissions.
Check volatility. If a system’s swings scare you on the chart, imagine what it will do to you in real life. You’ll be spending just as much time watching the trades as you would if youwere making the calls yourself.