A good Wall Street fund manager can increase their portfolio size by 10 to 12 percent every year. But this isn’t the ceiling as far as profits go. And yes, it can be difficult to make a positive number show up on your ledger year after year, but difficult does not equal impossible. And 12 percent is not a high number in the grand scheme of things, either. With other types of trading beyond the stock market, you can make a 12 percent profit seem like a bad year. In fact, within the Forex market, it’s not uncommon to see trading robots that can return 80 percent or more on a yearly basis. With the use of an expert advisor (EA), you can not only clear up a lot of time to do other things you enjoy, but multiply your profits into the high double or even triple digits.
One of the more popular EAs out on the market right now is Tom’s EA. An EA is simply a trading robot that goes through the MetaTrader software to conduct Forex trades for you around the clock automatically. Tom’s EA has been around for a few years now and was tested for a few years before its official public release. The results have been quite positive so far. Many traders have reported yearly returns of 100 percent or more, effectively doubling their trading accounts with little effort on their behalf. This holds a huge amount of potential, even enough to overcome the big price tag associated with it. If you buy it directly, it costs almost $2,500–spread out over three payments–but there are other options. It will sometimes be offered with promotions, or if you want, you can choose to lease the software for $97 per month. When you have the potential to double your account every year, any of these choices is very generous. If you start out with $25,000 in your Forex account, ten percent of this to fully automate things and simplify your life is a very small price, especially when it’s a one time fee.
The big thing to consider here is whether or not whatever trading robot you use will work for you and your style. Comfort and customization are two of the big things to consider. Comfort, because you need to trust what you are doing and be able to stomach the risks associated with it. If you are not comfortable with what you’re doing, there is a higher chance that you will deviate from the instructions and this exposes you to bigger risk–one of the big things that EAs are supposed to eliminate. And then you need to customize your trading experience to meld it with your set of needs. This DOES NOT mean to go against the instructions provided for you with the robot you get. Tom’s EA, for example, comes with a complete set of things to do in order to maximize your trading ability. Deviating from this can be dangerous and is not a good idea. But that doesn’t mean that you cannot make sure that your robot is doing what you need it to do. When setting things up, you want to stipulate risk amounts for every trade so that in order to avoid overextending yourself or minimizing potential profits. Both will limit your earnings, but you do need to make sure that things are applied correctly in order to fit your budget size. Risking $1,000 per trade is a bad idea if you have a $5,000 account size since this is far too much risk. But, risking $1,000 per trade is also a bad idea if you have a $10 million account since profits will not be worthwhile. You need a happy medium in order to prosper to your fullest potential.
**All profit numbers indicate amount sent to your trading account for a profitable trade**
***Your capital may be at risk. This material is not investment advice.***
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