Forex user EA Testing improves trading success. See Make Money EA Test results impact Forex traders

http://bit.do/dRe92 Secret discount for ForexEarthRobot.
Forex user EA Testing improves trading success. See Make Money EA Test results impact Forex traders LIVE EA TRADING CHECKLIST Unfortunately automated Forex trading ( a Robot) does not solve the underestimated psychological trading problems of GREED, IGNORANCE, IMPATIENCE, DESPERATION, LACK OF EXPERIENCE, LAZINESS (trusting other people), UNREALISTIC EXPECTATIONS etc. Everybody dreams of buying "success in a box". A high percentage of clients expect to pay $200 for and Expert Advisor, plug in the guide settings supplied by the seller of the EA and then start counting the money as if flows in. Expert Advisors can produce huge income for Forex traders but they need to be managed correctly to produce the results required. So below we have created a live EA trading checklist and process that will increase your chances of success 100 fold when trading Expert Advisors. Before we start with the checklist you need to understand a few facts about Expert Advisor trading: EA Management skills Expert Advisor trading is not always as easy as the general expectation created in the Forex Market over the years. The true mindless set and forget EA will only work with lots of luck - and sometimes does. You need to get the currency, timeframe, market conditions, time of day and a number of sensitive settings perfectly aligned for your specific broker account to achieve really good results. So to achieve really good EA results you need really good EA optimisation and management skills and a good knowledge of Forex trading, position sizing and money management. Again, if EA trading were easy there would be thousands of Forex EA millionaire people around. EA trading is a skill developed over time and good and bad trading experiences. Below is a high-level Live EA checklist: Have you optimised the EA you intend to trade over a suitable period using a number of currencies, timeframes, trading approaches and risk management approaches. After doing this you should have a good feel of which currencies, are the best for that particular EA, which time frame gives the best results and lowest drawdowns, what position sizing in appropriate to your risk profile, which are the setting which have the biggest impact of the success of the EA. Please note that the optimised settings may not be (and seldom are) the ones that produce the highest income. They could be ones that produce your highest chance of success with good risk management at the same time. After the basic analysis above have you further optimised the EA to find trending market and sideways market setting alternatives for the most suitable settings in 1 above. This process also identifies EAs that may not meet your trading expectations - many EA traders stop testing at this point. After doing the 2 activities above have you selected +/- 10 settings which you want to test on demo accounts for the next 5 to 6 weeks. So you would test +/- 10 sets of settings you have identified on 10 different demo accounts linked to an analysis service such as FXBlue for 5 to 6 weeks to see which perform best and which ones meet your expectations. This test will also give you more information about the account sizing and position sizing you will need to safely trade the EA. Have you then selected 2 to 4 settings for live trading and run these settings on 4 live accounts for the next 5 to 6 weeks. While doing this have you continued to test 10 different settings on demo accounts in a effort to find even better settings on an ongoing basis. Using the information gained out of the 10 demo accounts and 4 live accounts are you continuously changing (re-optimising) the settings to be more effective on your live accounts. So your live accounts will always have better and lower performing settings which you can adjust accordingly to stay in tune with the market and improve profitability. To complete the above activities you will need to use your own or VPS facilities that allow up to 15 accounts for every EA that you trade. Most successful EA traders trade or test 3 to 5 EAs at a time so it does require some computer resource. You also can not pay someone to do this for you - how well you personally do these activities and understand the EAs is what separates the winners for the losers. To most successful traders this process is second nature so the sooner you start developing the skills required the better. If you do not complete the above process or checklist your chances of Expert Advisory success could be extremely low...but then again, you could be lucky.