Are you interested in finding that perfect automated forex trading system that'll do all of the work for you while you make big money? Some might even call this the Holy Grail. Guess what, there is no such thing.
Once you've traded forex for awhile you'll start to have these revelations and begin so see how silly or naive you were when you first started trading. One of the things I came to realise is there is no perfect technical trading system out there. As a result, there isn't a perfect automated strategy that can just run as a "set and forget". System forever without ever being updated or tweaked. If someone knows of one that's run for over 2 years with good profit and little drawdown, please let me know.
With that being said, there are some good Expert Advisor (EA) programs and automated trading systems out there. The problem is that most of the profitable ones will force you to sit through large periods of drawdown. As a possible solution to this, I've decided to use several automated trading systems with very low leverage to supplement my live trading. The secret is to find out the maximum open and closed drawdown of the system and then account for that when you chose your lot sizes.
For example, in my Kiss Futures trading system, I expect to see a maximum open drawdown of 200-250 pips. If I don't mind risking 25% of my $ 1,000 account trading this strategy, then I'd place each trade with a pip value of $ 1. At the worst possible time…