Forex autopilot software is a software program that automatically enters and exits trades in the forex market with the goal of turning a profit. Many traders buy these software programs and plug them into a live trading account right away. At first the system makes them money, but as they weeks go by the systems performance begins to drop and it begins to loss the trader money.
This happens to many traders all the time who buy “forex robots” but it is completely preventable. Most traders don’t realize that the software program that promises them money on autopilot, actually needs to be maintained once a week. So you need to take the best forex autopilot software that I am going to tell you about, and you need to be prepared to use it properly before you make the purchase.
So how do you maintain a forex robot? Forex robots actually have parameters that they follow, which include certain stop-losses, profit-levels, etc… All of these are maintained by a certain number, which can be changed. But why would we want to change this number from the factory settings?
Anyone who trades forex would know that you would place different stop-loss and profit-levels based on the current market conditions, whether it be ranging or trending. The same goes for a forex robot, you need to adjust the settings of your robot (preferably once a week) based on the current conditions of the market. If you are to do this properly then you will have a much higher chance of pulling in greater profits than if you never maintain it.
Source by Scott B Price