When you are looking at forex trading methods you have choice between following an automated trading system or trading manually to set of rules so which is best lets take a look...

Forex Robots

Have rules build into them and there simply plug and play time efficient and require very little trading knowledge.

There are some good ones about that are sold online but most (about 99%) don't work and the track records are simply made up and simulated in hindsight. Most carry the disclaimer below, look out for it and forget it:

"CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown".

There are some that have been traded and tested and have real time track records but be careful - you still have to follow it with discipline and for this, you need to know how and why it works long term.

You need to be confident enough in its logic, to stick with it through periods of drawdown, if you dont understand how and why it works and have confidence in its ability to win longer term, your discipline will go and you have no system.

There are even some free ones that make money. I have written frequently on Richard Donchian's 4 week rule and this incredibly powerful but simple system, is free! Look it up in our other articles.

Trading an automated trading system ( if you find the right one) is time efficient and easy - but you must have a disciplined and patient personality, to keep executing the signals in line with the rules and this is hard, when you had a losing period!

Manual Trading

There is a right way and a wrong way when trading manually - lets start with the wrong way.

The "shoot from the hip" news and story trader - He simply trades on a whim and of course as news is instantly discounted and his emotions are to the fore he losses.

The other trader is the trader who likes to do every trade manually but is still guided by rigid rules in terms of, executing his trading signal and money management.

I am this sort of trader and it suits me as I am involved and although I use rules I can pick and choose the best trades in terms of risk reward - this trading method is obviously my personal choice and each trader will know which method is right fof them.

You can make money with forex robots, just choose wisely and be prepared to have confidence and discipline in the system you follow. As a manual trader you still need discipline but it probably suits the trader who enjoys a challenge.

Which ever trading method you choose, remember to have a disciplined approach and make sure you employ rigid money management criteria, to lead you to long term currency trading success.

NEW! 2 x FREE FOREX TRADER PDF's

For free 2 x trading Pdf's, with 50 of essential info and more on Forex Trading Systems visit our website at: http://www.learncurrencytradingonline.com