The big thing in forex trading is the over arching umbrella word ‘scam’.  It’s got this really ugly cloak to those that haven’t explored or educated themselves on the topic.  That cloak is full of dodgy information, bad publicity, dubious characters and potentially money being lost.  So, when I share with people that I ‘trade’, 80% of the time there’s an immediate negativity around it, all shaped by the stories heard and seen. Clearly showing that trading though well intentioned is very much a misunderstood industry by many.
 

My own story.
I’ve always wanted to trade currency. Some of the movies I watched as a kid influenced the, ‘wall street, suited up, fast pace’ feeling.  In recent years I’ve loved movies like, ‘The Wolf of Wall street’, ‘The big short’, ‘Inside Job’, ‘Wall street’.  It’s the buzz and excitement around watching currencies and stocks be influenced by the sentiment of the people and the political activities that take place to make this happen.    It was always something I have loved but never thought I would be able to do.  Stories of losing thousands, scams, taking years to get educated and not feeling good enough to do it all ate into the stories of never getting into trading.   Until 2019. 
 
On the whole, when I've mentioned it to friends, family or acquaintances, it creates a strange energy of ‘hmms….not sure now of what you do!’  sounds dodgy!!  And to the untrained, yes it can be.    "Be careful Nick, it’s a scam" "careful you don’t get scammed", and "Its all illegal".   So, my goal here is to just pull off that cloak on this topic and just help people open the door to a rather good way of making your money work harder for you.    Trading isn’t discriminatory in anyway. If you get educated and learn some strategies and keep to your trading plan with key rules you can make it work for you.  But its first getting past the first hurdle. 

The Financial Conduct Authority 
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This is an important financial body in the world of trading.  All brokers (I’ll come back to this term) are required to be registered with them to allow trading to take place lawfully.  You can review their website and see the stringent terms and conditions brokers need to follow.  You can also check up on brokers and those who have been called into question by the FCA.  It was my go-to place when I was checking the broker I use.   This is part of your education and really is a foundational subject to review.

The Broker.
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All brokers are required to be registered with the FCA regulatory authority in the country they operate.  All brokers provide legal documentation which covers your rights as a user and the terms in which you are signing up too.   Its important you know this and read them.  When you open an account with a broker, they will request you to identify yourself through supporting paperwork. They just want to check you are real and verify you.  This is another important step when considering the trading services you will use.  The broker is like your bank but for forex trading. They have access to the forex markets and they do the hard work of connecting you to it so you can trade different currencies.  Most brokers are free to sign up to and they make their money via the trading activity you conduct. For example, commissions and swaps on trades taking place.  They make money in other places too and you can read about it through the terms and conditions. Again, another important step in getting educated on forex trading. Brokers also provide resources, training and FAQ’s to help you with your trading.  Use them – they are there to support you.   
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Algorithmic Trading/ Expert Advisors

This is the technology part of trading. Using technology to help you trade.  Algorithmic trading/  Expert Advisors are trading robots – created by trading professionals to take the guess work out of trading and help enter trades based on a set of pre-set criteria.  Algorithmic Trading isn’t new. Its been around for a number of decades and they are getting better.  Technology is helping retail traders (like me) help get a step into the trading zone, start trading, earn some profit and learn on the go too.   ‘Set and forget’ is another common phrase around algorithmic trading because the technology is doing the hard work that someone has programmed it to do. The key benefit of using technology with trading is that you don’t have to be watching the currency movements all the time, its done for you and it takes away the emotional part of trading. This I talk about a little bit further down. But your trading mindset is probably 70% of whole trading strategy. Like life, if you are too emotionally involved – you may not always make the right decisions.  Algorithmic trading has a lot more advantages and is used heavily by banks and financial institutions too.  We embrace technology everywhere in our life.  Using technology in trading makes sense too.

​​I’ve been trading since January 2020 using an algorithmic service and its been the right decision for me.  It has allowed me to work my capital properly and make a profit, its allowed me to learn more about trading while its going on around me and its disconnected the emotional part of my trading. 
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A great place to check up on algorithmic systems is the website called myfxbooks.com.  Its basically a place where traders, systems and the results of their trading can be shared for all to see.  Another great way to review a potential algorithm service you are going to use.  
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 So where is the scam Nick if we have all this regulation?
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The scam happens where people write tag lines saying, “I can turn US$200 into US$5000 in 7 days.”  You’ve more than likely seen them.  Scammers feed on the uneducated viewpoint.  They feed on that emotional feeling of earning so much money in a short period of time.  If you look up  ‘forex trading groups’ on Facebook you will see so many promises of a ton of my money in a short period of time.  It’s made to sound easy, achievable and accessible.  Let’s be clear. Its accessible but achievable and easy are the to elements that need an upgrade quickly.  Its never easy. You can have good trading months and bad ones but over a year if it averages out then it’s a good thing and seems easy.  Achievable also yes.  But your view on trading is important part of this story.  If you think in 3 or 6months you will be a millionaire then you are mistaken. Trading needs patience, time, consistency and a plan.  If you can’t hold those then its best you don’t get involved in trading.  Be on the look out for them, but don’t’ dismiss the good ones.  Do your homework, educated and start discovering.  
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Get educated!
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When I was younger I couldn’t wait until I could drive.  The offer of freedom, going where I wanted to go, playing the music I wanted in the car and hanging with my friends was simply great.  But when I was dreaming about those days I did not think about the risks, learning to drive, insurance, fuel costs.  Those were just back thoughts.  But when the opportunity to drive came around I was so excited, so enthusiastic.  I remember my first lesson, and would you believe, I’ve seen my mum and dad drive a manual for so long that when it was my turn to actually do it, I messed it up!!!  I was so embarrassed.  That was my first fail at driving.  Then as driving lessons continued my confidence plummeted, I thought I’d never get it. The risks on the road, changing lanes, indicating at the right item, being mindful of other cars – OMG.. all of that was front and centre and at times I cried, felt overwhelmed, worried that I ‘d never be able to drive and be stuck in a taxi for life!!  There’s mindset again!!   All that played into my driving.   You will be pleased to read that I passed my driving test first time, so I was really proud.  Getting your license is such a badge to independence.  Now I had to think about risks, I was still a learner really, insurance, fuel – the baggage that comes with the responsibility of driving is large.  But as the years progress, we don’t think about it. Its something we do and get on with!  With that long story – what I’m trying to say is that trading too comes with risk, learning to trade, capital concerns, worry of getting it wrong but in the long term as we get better at trading, learn from our mistakes we too can be better traders.  It does not happen overnight. I am only 18 months into this journey and I’m still learning.  I have a learner’s mindset always.  My patience is better and I’m more comfortable now letting the market do its thing and I keep a reactive mindset.   The moral of this paragraph is get educated. See what the trading world is like. Research it, do your due diligence and explore it.  

​I do make money while I sleep.  Not a lot right (yet) but I’m in this for the long term. As I said above trading is a long-term activity that needs patience and consistency. My personal mission is to build this income stream and in the coming years see this as an income stream that covers our bills and expenses and helps us just enjoy life a little bit and take the pressure of the corporate rally we are in!    If this is something you want to do, then get educated.  See what your options are and plan! Then go for it!

Forex trading is a possibility for you, just get educated!
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I'll continue to write on the subject of 'get educated' as part of my mission to help people see trading as a potential option for them!  

I've been trading now since January 2020 and I've learnt a lot!  But its time to upskill my trading and get better.  So I've signed up for a 4 day course at the end of April 2021.  4 Days of being immersed in trading and taking it to the next level.  How very exciting!

​I started with algorithmic trading which really was a good introduction to the world of trading.  I'm still using algorithms and will continue to do. To be able to 'learn and earn' has been a really great opportunity and I'm not changing that.  I've been able to see the trades being set and study why the algorithm made certain choices or when the professionals step in a do a manual trade.  Its really exciting!  Once you are doing it and you are seeing the consistent growth each month, its a bit hard to turn your back on it.  So that will continue.  

What I want to do now is get better.  Improve my skill set, learn more strategies and get clear on my trading plan.  

After some dummy trading I opened a small US$125 trading account in mid February.  My first goal was to take that account to US$200.  I'll talk about this in a later post and share my results but I'm really excited about getting better at trading.​

A blend of algorithmic trading and manual trading is really exciting for me. I'm getting educated, upskilling and looking forward to what 2021 has to bring with the trading.  

Most of the time my forex accounts operate with minimal interference from me.  I get on with my day and the accounts busily work away in the background 24 hours a day, five days a week.

But that does not mean I don't get involved with them at all. It’s important that you keep an eye on the accounts and see how they are doing and be able to make decisions about them, if you have too.  I will share with you how I operate my trading, so you have some guidance and how margin % helps you keep an eye on your account too.

What is margin level %? This is calculated by your equity/used margin x 100%. . The closer you get to using 100% of your margin the closer you get to being stopped out. You always want a healthy margin. At least 500, over 1000 is better, when we are running large lot sized trades.  

My daily strategy.
So, 80% of the time I let the automation do all the work.  iX focuses are helping us earn more money and we pay for their knowledge, insight and experiences to trade on our behalf.  For busy professionals looking to see their money work harder for them, then why not!  Daily, I check my drawdown and my margin % to see how the account looks.  A couple of minutes of my time.  I'm happy when my with a drawdown of 30-50%, I’m comfortable with that now.  As you can appreciate, we need to have active trades to make money.  I also watch my margin % which anything over 2000% I do not even think or worry about.  I get on with my day!

When the margin % is getting close to 1500% I will start to pay a bit more attention and see for myself what is going on with the currency pairs. Not in a stressful way, just more of an awareness.  What are the expectations from currency movers, what macro-economic activities are going on and coming up that could impact our trades.   Again, I will not do anything, I'll just put myself in a 'more observation and tracking' mode. I am just being cautious.

When I'm just below 1000% and economics indicators are not clear then I'll think about options open to me to start thinking about.  When you are here you are making more rational, unemotional decisions and will make a clearer judgement.  A plan to have just helps you keep calm.  Options like a) add capital, b) close trades, c) reduce lot size to reduce risk.   They are all viable options and I choose the one that feels most comfortable.  

As the margin % starts to fall its then up to you when you want to take precautionary action.  300% is for some, others it is too low.  When margin % is getting close to 100%, your MT4 app will start to flash. It an indicator to you to do something to save your account.  If you do not your broker will take control and close trades.  You have lost your decision making on the account. It’s too stressful to be there and you don’t make great decisions.

I'm sure you are asking if I have been close to a 100% and what did I do?  Yes, once.  I got to 250% and felt I needed to start managing the account and making decisions.  I chose to close a large sell trade which meant a loss, but I increased my margin % back to 400%.  That move left me room for the currency pair to recover and replenish my account.   The currency pair turned around, trades began to recover, some trades closed in profit and some in loss but we were back into healthy margin % again.  Beside that that closed trade, I did make a tiny profit on the eventual closing on all the other trades involved.  So, a small loss overall but I was happy with the eventual outcome. 

In all my time with using an automated service this was the first time I had taken action and I felt I made the right decisions at the time.  With hindsight, I wish I had not closed that trade but when we are trading, we have to remain in 'reactive mode'. We cannot predict the future.   The loss happened and I quickly recovered that loss through new trades set in the following weeks.   Your mindset for trading is important.  Have a read of my blog on my first year of trading and my learnings.

It’s now March 2020, and next week marks the end of the month, so I’ll be sharing my march results.  

To understand your MT4 app please see read this blog post.

Its been a quiet week on the trading from for R2D2 and that's mainly because of the time of the year and avoiding any volatility but last night the traders saw an opportunity and it paid off!!  This morning I saw this beautiful profit on my MT4 app.  I was very excited and its moments like this that I  love automated trading.   Nice christmas present there for sure! xx

I'll share a more detailed note in my R2D2 results but I just had to give this trade a bit of its own glory on my blog.

​These are my own results.  Returns are not guaranteed and any capital is at your own risk.

So, this title is inspired by a comment I had on a post from an Mr. A Pessimist. 

I’d like to thank them for their comment because its comments like this that help me drill deeper into helping people see the power of automated trading service for those that are truly skeptical, like Mr. Pessimist.  His comment reflects probably a large percentage of people who remain skeptical of other ways to earn an income outside of the traditional l banks, saving plans, pensions and financial tools. All tools I have in my financial kit too because they are worthy services.  His comment also reflects the negative press forex trading gets which is heavily created by the ridiculous claims that are often shared or people with images of fast cars and tonnes of money.    So, I respect his opinion and I hope that he finds the answers he’s looking for. 
 
The opening sentence was ‘Losses after losses?’  They punctuated it with a question mark, so here is my answer.
In this year of trading I’ve had 2 losing weekly moments.  They just happen to coincide with one another in the same month.  The first one was the US General election (US$31) and then I lost my profit earned from the month of November (US$141).  At the point of the loss my profit was actually up at US$119 so it had been a great month.  This loss was caused by a technical glitch which has now been resolved.  IX Global worked super hard to turn this around and given that I know the teams I was pleased to see the action taken quickly and the communication of the error being spoken about. There was nowhere to hide so it had to be addressed with the many IX global customers.  A bit like when TSB had  IT issues with customers bank accounts.  Technical glitches can happen. 

What I lost was profit not capital.  In my opinion that money was not real to me unless I had wanted to withdraw it from the account.  What I lost in Noember was a percentage gain which equated to 3%.  Overall, since my account started I have earned well over 50% over and above my capital.  Which is far more than my bank or current retirement plans are earning me.   Yes, forex trading is riskier, but the returns are far more lucrative.  If you can be emotionally detached from your trading, then you are 80% there.  Initially I was bothered by the loss, but when I put it into prospective, I found calm in my head.  My rational:

1.  Its 3% of the account.  When I’ve gained over 50%, over the 2020 annual period. We must look long term when we are trading.
2. Forex trading is risky.  You must know that and be prepared for what could happen and learn to detach yourself from the trading activity.  One of the pillars of trading is ‘risk management’.  The majority of the time we ahve really good weeks but we must be prepared for weeks with losses.
3. Trust the team doing the trading on your behalf.  It’s in their interest too, to have a successful algorithm and decision making otherwise their business model isn’t worth it!  Get to know the brand and the team.  Look at their historical results. It doesn’t guarantee future profits but it’s a healthy insight into the phycology of the company.
4. I lost profit, not capital. I’d be more upset if my capital investment had been compromised.

Their next sentence: ‘Why are you getting people to sign up to this’.   Also finished with a question mark, so here is my answer to that part of the question.
Through my blog I’m sharing my trading journey.   I openly share my results, learnings and answer questions so that those curious can get a real picture of what its like on a weekly basis.  I remain open, honest and transparent about my results because at the end of the day this service is riskier than guaranteed profits return you would get through other financial tools and I want people to see if for what it is. 

This is also an industry that is completely alien to a lot of people who have been taught that we should be saving money and using banks, ISA’s and retirement tools that guarantee income.  These tools offered by banks and financial institutes also use the forex markets to make money from your money invested.  They are doing it, why can’t we!  Deutsche Bank is the world’s largest foreign exchange dealer with over 21% in market share.  Another reason I hear often is forex trading is just for the rich people and not acceptable to the ordinary person in the street.  Its not acceptable to the ordinary person in the street because its not offered to them as an option. Its also presents itself as a walled opportunity.  Only open to those that are math whizzes and those that have a ton of time to read charts.  Automated trading gives you an option to tackle these two issues and get yourself into an industry which could make you a good return!   People make their own decisions based on their own due diligence if this is right for them.  I share my journey as evidence of what automated forex trading can bring them.
 
The last word, ‘Scam’.
Well that is an opinion and if I’m part of a scam then I’m very confused by the success and results of some of the other IX Global customers.  I’ve connected with many customers to share forex questions, insights and experiences. Each week these customers rave about their returns and share the glory of their money growth because they are more than delighted with the results so far.  I see them posting their results on Facebook and happily express to world another great way to earn a passive income and really feel money abundant.  IX Global is changing people’s lives and that is exciting too watch and see.  I’ve also been a customer for a year now and if I hadn’t been seeing my capital grow, I would have stopped this journey a long time ago.  Its been worth it and I’m very excited about 2021.
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Mr. A Pessimist, thank you for your comment and thank you for helping me think about your post and adding more clarity around the opportunity for forex trading. Its been a pleasure.

Merry Chirstmas to everyone at IX Global, all my forex friends and Mr Pessimist!  

This week's results. 30th November - 4th December 2020

• Starting balance: US$2000 / Current balance US$3362
• No new trades this week as the currency pairs we have on are holding steady and haven't met their strategic targets yet!.   Trading is a long-term game after all.

So, if you don’t read this whole post then just read the next sentence and let it spend some time in your head, relaxing! 

“This first year of automated forex trading WAS very worth it.  For those looking long term, it pays to broaden your horizons and investigate more ways to build your financial freedom. This tool is worth your time to explore!  Ask your me or your IX Global connection about it!’

You may be thinking, it’s not the end of the year quite yet but I know that minimal trading will take place during December partly because of Christmas but also partly because of trading volatility.  IX Global is managing our risk!  So, I thought I share my top 6 learnings from my first year of trading and I hope through these learnings you can take them on board and apply them when you decide to join the automation.
 
Any first year of anything new has its ups and downs but overall, I have thoroughly enjoyed learning more about forex trading.  I’ve not only gained more insight into understanding it more, but I’ve also made a number of great new friends, my mindset has a healthier relationship with money, I’ve watched other IX Global journeys explode this year and many of them are on their way to a new kind of financial freedom they thought they would never see.  I hope to get some of them on my video show ‘My forex stories’ in 2021.  To hear their stories.  Maybe you could be a future guest??

1. Become emotionally detached from the screen
I think this is more about 80% mindset and 20% automated trading.  In the beginning, I was an emotional trader. I looked at the trades all the time.  When I would look at my MT4 and see a drawdown of 10% or more, I’d start to think that I was about to lose my money.  I was in a weaker position because I didn’t know what I was looking at and having faith in something you had not done before was hard.  But I learned quickly I had to ‘let go’ of what I was looking at.  Become emotionally detached from the screen and just see the screen as ‘a game in play’ and I just had to watch and let the small wins come in.  All the longer-term IX customers now have a very cool relationship with the trading and just let it happen.  We encourage new customers to just relax and let it go but we also know that this takes time and patience to get into that mindset.   Long term it will serve you better to detach from the trading and only look at your MT4 maybe occasionally or at the end of the month to see your monthly growth!

2. Learn the basics for what you are looking at on the screen
Do take the time to understand what you are looking at on the MT4 screen.  Learn the basics of forex trading and understand the strategies used by Ix Global.  It just helps your mind, how you share with others, and understand what is happening.  You don’t need to do a lot of research just know some key details.  Understand what drawdown is, understand compound interest, get clear in your head why you are doing this and refer to it often.   Use the IX Academy platform for this. They have created a learnings section for you so you can understand what you are looking at.

3. Trust the system and the trader
Some of the key reasons for using automated forex trading services is so that we can grow our money without changing our lifestyles.  Another is we don’t need to spend the time analyzing charts or reading macro-economic news.  We have busy lives to get on with but we want to build a better financial pot.  We all pay a monthly fee for the experience of the trader and their professional direction.  We’ve also seen the historical information about how the automation services have been doing.  So, in doing this we have to have some trust that the trader is always doing their best and the algorithm is a very good one.  Ix Global is striving to be a great platform.

4. You can learn and earn
I guess this is repeating some of the key learnings above, but I love to tell people you can ‘learn and earn’.  Evidence and research on new forex traders are that most lose all their capital very quickly and then walk away thinking that it doesn’t work and it just a waste of money.   This is where automated forex trading has a niche because you can ‘learn and earn’ this way.  You can utilize your capital investment better and see your money grow consistently and at the same time expand your knowledge of forex trading in a more relaxed way. 

5. Know your risk tolerance and your risk averseness
Automated forex trading is risky. We say often that historical results don’t guarantee future returns and understanding this is key to all of this.  You must know your own ‘risk level’.  How much are you prepared to risk and understand how you feel about all of this.  It goes back to my other learning about ‘emotional detachment’ and risk is always a part of this.   I started with a 2K account because I’m quite risk-averse but the learnings from this year, trust, and emotional detachment means that come 2021 I will start to raise my capital.   

6. This long term, not short term
It’s important to think long term when you are using the automated trading service.  Consider your percentage growth over the long term from a bigger picture perspective.  On a daily and weekly basis, trading can be up and down but when you look at it from the ‘bigger picture’ perspective you see a different outcome and see how your consistent efforts have over the long term been positive.  One month isn’t a great barometer of your trading.  Commit to it for at least 6 months to give yourself the better chance at succeeding at this.  It's probably the safest way to trade too because you can ignore the daily/ weekly changes and just focus on the monthly and yearly outcomes.  When you can do that you are well placed to be doing this for the long term!
 
There are so many learnings this year it was hard to really decide which ones would be most relevant, but I think the ones above reflect the early day thoughts and feelings we have when we start automated trading.  Know, like, and trust ring true through these learnings too!   Ask questions, do your research, and speak to your Ix global friend and learn from their experiences too.   You really do need to make room for new knowledge if you want to change, grow, and want different results.

I’m so excited for 2021 and what it will bring.  I hope you will consider joining us and being part of this opportunity.  Bring with you lots of positivity, an open-minded attitude and a real desire for change, and lots of curiosity and you are already 50% of the way there.

I’ll see you in the IX global family.
​These are my own results.  Returns are not guaranteed and any capital is at your own risk.

You may look at the screenshot below and worry but these are my live and active trades at present. They need to happen to make profit.  They are in play and haven't met their Take Profit targets yet!   ​

This afternoon I signed up to the C3PO - Gold automated service offered by IX Global.  A few hours in and we are up US$9.  I'm so excited about this new service and watching it over the next few months!  

utomated Forex trading systems and software enable traders to do business without getting any emotion or psychologically involved with the trade.  It can help those who are beginning to learn and understand Forex trading and its perks.  By using the automated system, traders could save on money, time and effort. Look at our automated systems  R2D2 & C3P0 - Gold

Using this system would just require you to have a computer, internet connection and basic knowledge about what you are getting into.  There are many automated Forex trading software you could choose from. This system would monitor the Forex market for you and at the same could do the trade for you.  It could stop losses or continue your winning streaks.  

Using this kind of automated Forex trading system would be ideal for traders who are really interested in trading but could not face it due to tome constraints and other restrictions.  As automated trading progresses, it is obvious that manual and hands-on trading is being gradually removed in the process. 

How does this system work?

Automated Forex trading systems is also called an algorithmic trading.  It uses computer programs and computer algorithms to make and enter orders based on different aspects like time and price.  Algorithmic trading can also be called black-box trading or robo trading.  Automated trading is now becoming popular not only in Forex trade.  During 2006, one –third of the United States and European Union stock market were already using automated trading programs. 

If you would like to learn more about how IX Global's automation services could hlep you then please get in touch with me.

Scalping can be very profitable for traders who decide to use it as a primary strategy, or even those who use it to supplement other types of trading. Adhering to the strict exit strategy is the key to making small profits compound into large gains.  The Trader sets a trade to earn a few pips and then take the profit.  Its a common strategy within an automated trading service too.

With IX Global's automated trading service it doesn't recommend running automtion and manual trading in the same account.  This is because with both running you wouldn't have enough equity to accomodate the automated strategies and place your own trades.  You will also put your capital at higher risk and overleverage your account.

If you want to scalp trades its recommend you create your own account and set about running manual trades you can scalp.

Forex trading has one of largest market share in the world.  It earns about $3 trillion every year worldwide.  But Forex trading is mainly speculative, the profits and losses are based on the currency movement.  The big turn-out in profits attracts a lot of investors.  Even those who are still beginning in this field are interested in joining, to make it easier, there is an automated Forex trading system that could help them make the transition easier. 

With an automated Forex trading system you would have a programmed system that could monitor the progress of the Forex trading real time.  It utilizes an expert advisor and a set of indicators that interprets the Forex trade and can even show you an opportunity to trade. 

What is good about utilizing an automated Forex trading system is the quick way of picking things up.  If you are a newcomer in trading, this would minimize the lengthy process of learning the market and its rules.  You do not have to stay glued with the Forex market 24 hours to understand the Forex trading market.  The software would keep tabs on the trade 24 hours a day. 

This would keep you abreast with what is happening real time.  This would enable you to make changes to your account real time based on changes happening in the market.  Major trading changes could happen in a matter of just a few seconds.  

Aside from that, the automated Forex trading system gets rid of the emotional and psychological aspect of trading.  There would be times when series of losses can affect your way of thinking and analyzing the market. This could result to bad and rash decisions in the market.  But the automated Forex trading system and software would help you deal with it.  

The software is also easy to use and simple to install.  It can be allowed to run into autopilot.  Configuring the software would only last for a few minutes and then it can be allowed to do its work and its magic.   You can be successful in automated Forex trading especially, if you are using a system that is suitable for you and at the same time, you are familiar with.  

This would also enable you to be flexible and have diverse Forex trade.  The automated Forex trading system can work with different types of brokers and different types of currencies.  You would be able to trade with different markets and currencies.  You can trade while on travel.  

But the automated Forex trading system is not perfect.  If it is, then a lot of people would be winning the trade.  Money management is still important. You have to know how much you are willing to risk.  To be successful, most traders would always have a fixed percentage of their equity at risk.  They could increase the size of their trade in winning or decrease if losing.   

If you already have an automated Forex trading system, then it would be better not to make any changes on the settings or the configurations.  Having an automated  Forex trading system does not guarantee success.  Nor, is it the only thing that you should rely on to be successful in trading.  

There are some factors that could influence trade.  Forex market changes very fast depending on different factors and situations.