A word of caution about all those Forex trading robots and automated "black box" trading systems out there. They may not be all they are cracked up to be. In fact, i know some traders in the Forex community that have been wiped out in the Forex markets placing too much trust into artificial intelligence. I'm not saying the robots are bad news for the trading community at large; just not for me. I personally rather have complete control of my accounts and can offer some common sense advice when it comes to optimal Forex trading methods.

So let's take a few minutes to discuss Forex trading methods. It's no secret that we are constantly bombarded with new methods or systems just about on a daily basis now. You want to know exactly what differenciates the right ones to use, the best performing or the most educational. With so many methods, systems and automated programs, the question becomes; How do you select the one that is best for you? ... Or, which method gives you the best opportuntity for Forex trading success?

I've implemented a simple set of rules to follow when Evaluating a Forex Trading Method, course, system or program and today I'm happy to share them with you. First and foremost, any Forex trading method you consider must be complete. By complete, I mean the trading method must teach you the following: 

1. Conditions:  The precise conditions under which you can consider a Forex trade to be entered into. These are known as the "setup" conditions and refer to the technical indications (usually) that a Forex trade possibility exists. 
2. Entry Point:  The exact point at which you would enter into a Forex trade (price). This refers to the Entry Point (or Entry Rules) and means the price at which a Forex trade would be executed. 
3. Rules:  Rules for establishing initial and ongoing Stop loss marks for an open Forex trade. As part of Risk Management, it is imperative, especially in Forex, to have stop losses ALWAYS in place. If a Forex trading method or any Currency trading system for that matter does not teach or define these, you should abandon it. The upshot being that without effective stop loss management you can be easily wiped out in a single Forex trade should the market move against you. 
4. Exit Strategy:  The exact points and an effective strategy for exiting a Forex trade. Unlike stocks, you will rarely, if ever, find yourself holding a Forex pair position in the markets for extended periods of time. Therefore, it is also important that a method teach you a strategy for exiting a Forex trade once that trade has become profitable.

Combined, these four elements will help you to eliminate chance plus, actually Streamline and Optimize Your Forex Ttrading process. Without any of these, no Forex trading method, system or program should be considered because in each individual case, traders will be exposed to steep losses or taking poor positions. Keep in mind, not every setup will execute into a trade, nor should every Forex trade be taken. Once implemented, these rules will help to protect you both in evaluating and executing the method when trading Currencies.