There are a lot of so called Robots out there that claim to make millons trading the forex market while you sleep.
I have personally tried quite a few of them and while they do work at times, it is not the holy grail. Forex Trading, especially day trading the forex market, is very tricky.
You can make quick money but you can also lose just as fast.
So how do we do it? How can we use Robots to make money for us? Or can we?
Well I have found a way that works for me. My way of using the Robot is to make me money but not too much. In other words, not to be greedy.
Greed is the worst thing we possess. This is also the emotion that can ruin us. So now we know the problem, how do we control it?
Well that my friend is where you come in. What makes me happy, may not make you happy. For example, I might be happy to make 15 pips a day but you might want 25 pips or more a day.
So we need to do a trade off and if we stick to the formula, then I believe we can make money using Forex Robots.
To give you an example, if you consistently make 15 pips a day using one contract, that equates to $150 a day. In a month, that gives me $3000. Not bad for working a few hours a day, if that at times.
When I trade, I do an excel sheet that tells me how much I can risk of my capital and as the capital increases, the amount I risk increases (the percentage risk remains the same).
There are some Robots that will do this automatically for you too.
If you require more information on the Robot I am talking about, please feel free to visit [http://tinyurl.com/67kzhs]
I have personally tried quite a few of them and while they do work at times, it is not the holy grail. Forex Trading, especially day trading the forex market, is very tricky.
You can make quick money but you can also lose just as fast.
So how do we do it? How can we use Robots to make money for us? Or can we?
Well I have found a way that works for me. My way of using the Robot is to make me money but not too much. In other words, not to be greedy.
Greed is the worst thing we possess. This is also the emotion that can ruin us. So now we know the problem, how do we control it?
Well that my friend is where you come in. What makes me happy, may not make you happy. For example, I might be happy to make 15 pips a day but you might want 25 pips or more a day.
So we need to do a trade off and if we stick to the formula, then I believe we can make money using Forex Robots.
To give you an example, if you consistently make 15 pips a day using one contract, that equates to $150 a day. In a month, that gives me $3000. Not bad for working a few hours a day, if that at times.
When I trade, I do an excel sheet that tells me how much I can risk of my capital and as the capital increases, the amount I risk increases (the percentage risk remains the same).
There are some Robots that will do this automatically for you too.
If you require more information on the Robot I am talking about, please feel free to visit [http://tinyurl.com/67kzhs]
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