Getting Started with Live Auto-Trading
 
 

Step 1. Open A Live Auto-Traded Account

Once you are comfortable using the Auto-Trader Demo Account, you are ready to open a Live Auto-Trading Account. To have a Live Auto-Traded Account, you will need to open and fund a brokerage account with FXCM using the link below.

We strongly recommend that you open "Mini Account" to live trading. A Mini account allows you to place trades as low as $10,000 per lot with no maximum trade size limitation while a "100k Account" requires a minimum trade size of $100,000. Trading on a "Mini Account" will give you much more flexibility in leveraging than trading on a 100k account. This makes it much easier to reduce risk, compound your profits and split your trades into multiple contracts to allow for multiple entry/exit strategies. We do not recommend using a standard 100k account.

Click here to open a live trading account with FXCM
Once you account is approved please print, sign and fax
the following Letter of Direction to FXCM at 1-212-897-7669


Step 2. Control your Risk Exposure!

If you don't want to risk more than 10% of your account equity per month, we recommend that you never trade more than 1 strategy per $2,000 in account equity at 10k lots per trade.

The more money you invest, the more you can relax this recommendation due to the increased diversification that comes with adding additional strategies. Keep in mind that the more volume YOU trade, the more commissions WE (and the signal providers) make so this recommendation is NOT necessarily in our best interest; it's in YOURS! We want you to have the best experience possible so you'll tell others about our service and remain a client of ours for years to come. Over-trading and/or over-leveraging your account can allow a single short-term losing streak to either wipe you out or cause you to panic, close your account and run for the hills. You can control the likelihood of this happening by limiting your risk exposure and increasing your diversification as much as possible within your risk parameters.

Before increasing your leverage on a single strategy, we recommend that you add an additional strategy to your portfolio instead so you can increase your diversification in addition to increasing trade volume.

Regardless of the number of trading strategies in your portfolio or the number of lots you decide to trade per strategy, you should set yourself a maximum monthly stop-loss to limit your monthly risk. If you risk a maximum of 10% or even 20% of your account equity per month, then, in theory, you could never lose all of your money and remain in the game forever, which is the key to successful trading. Let the power of compounding over time work for you by staying in the game and keep your risk exposure to a level that allows you to sleep well at night and enjoy the benefits of this unique software.


Step 3. Choose the right Trading Strategies for your portfolio.

According to our statistics, the best way to choose strategies for your portfolio each month is very different from what you would expect. Selecting the right strategies each month is a strategy in itself and we've dedicated an entire page to this topic. Click Here for Tips on Selecting Strategies. 


Step 4. Have fun and be responsible!

While the ProSignal Auto-Trader software does most of the work for you, it is still your responsibility to choose the right strategies for your portfolio and trade responsibly. The Auto-Trader software makes it very easy to over-trade your brokerage account. Please follow our risk guidelines in Step 2 above to help protect yourself from unnecessary risk exposure.


Step 5. Support and Feedback

We would love to hear any feedback or recommendations you may have about our services. We are also looking for more testimonials to add to our website. If you have a personal experience or suggestion that you would like to share with us, please send to ProSignal Support.

Contact support 24 hours a day with any questions that you have

  
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Risk Disclosure: Unique experiences and past performances do not guarantee future results! Testimonials herein are unsolicited and are non-representative of all clients; certain accounts may have worse performance than that indicated. Trading stocks, options and spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. Because the risk factor is high in the foreign exchange market trading, only genuine "risk" funds should be used in such trading. If you do not have the extra capital that you can afford to lose, you should not trade in the foreign exchange market. No "safe" trading system has ever been devised, and no one can guarantee profits or freedom from loss.

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 actually been executed, the results may have under or over-compensated for the impact, if any, of certain market factors such as lack of liquidity. Hypothetical trading programs in general are benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. Substantial risk is involved.

Forex trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the forex markets. Don't trade with money you can't afford to lose. Nothing in our course or website shall be deemed a solicitation or an offer to Buy/sell futures and/or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our site. Also, the past performance of any trading methodology is not necessarily indicative of futures results. Day trading involves high risks and you can lose a lot of money.