1. You could think about getting a professional trader to trade your money. Collective2 has an extensive list of Forex systems you can choose to trade, the trades are placed automatically by the trader and routed to your account automatically. This kind of setup means you can set and forget about the system.

2. You could find or develop an expert adviser (in MetaTrader 4) that will place trades for you automatically. With this kind of setup you need to keep your computer on in order for the expert adviser to run. There are also various software packages that you can program your Forex trading system into and trades will be executed automatically.

3. You could find or develop a Forex trading system with 100% mechanical entry/exit rules. While this kind of system won’t be completely automated, you may be able to setup alerts to let you know when a trade needs to be entered. Most Forex trading eBooks contain a 100% mechanical trading system you could use to practice.

Good luck with your search for an automated Forex trading system.

1. History – Does the system vendor provide a history? A good system vendor should be able to tell you the systems monthly results for at least the past year. If the system hasn’t been running for a year, you should ask what the back-test results were.

2. Draw-down – Unfortunately Draw-downs are not avoidable in trading forex. There are many forex systems making 1000’s of pips each year, but they fail to advise you that you would have lost all/most of your account before making those 1000’s of pips. You should always ask what what draw-downs the system has had in the past and use this information to determine your trading size to ensure your account is not wiped out. Think about the emotional impact of the draw-down, would you have stuck with it?

3. Reviews – Do a google search to see if other traders are trading the same forex system. Have a look what others are saying about the system. Check if the system has its own forum and check the feedback the system is receiving. Often existing users have found a better way to trade the system by tweaking it, ask what the latest settings are before you get started.

4. Win Ratio – Professional traders often have a win ratio of close to 50%. The profit is in how they manage the trade, by keeping losses short and letting profits run. Systems that have an unusually high win ratio are not necessarily better and can be too good to be true.

5. Stop/Limit Orders – Check that the system uses stop orders. A stop order is set to minimize your loss in case the trade turns against you. With no stop order set you could face a huge loss.

6. Paper Trade – Prior to trading any system with real money you should paper trade it, or trade it using a demo account. This will give you an opportunity to practice using the system until you feel comfortable with it, and give you an idea if it is worth trading with real money. Often systems can also be back-tested to give you proof of how the system performed in the past.

7. Timing – Check what time commitment the system requires and study how this fits in with your schedule. You should also ask when you need to be at your computer to trade the system.

8. Money Management – What kind of money management system does the system use? Systems that recommend you increase your trade size after a loss are not generally recommended by the trading community.

9. Additional Costs – Check what additional costs you will incur to run the system. Does the system require a specific charting package or data feed to run?

10. Refund – Check if a refund is offered and what the conditions are and if they can be met easily.

Good luck with your forex system comparison.

As an alternative to buying an ultimate forex trading secret system you could entrust your money to another person, who insists they have the winning strategy. If you’re appealed by that, take a look at places like Collective2, FX-Auto or ZuluTrade. But before you jump in take a browse at all the systems that looked good in the past, and then went down hill. Read the horror stories of people that invested their savings in a ’super’ system only to see their account balance painfully reduced to $0.

In fact, for 90% of people getting started in forex the ultimate forex trading secret system would be to not trade at all and put the money in the bank.

So how can you get in front and not be part of that 90%? By spending the time to learn, trading in a demo account, reading the massive quantity of useful free knowledge available from fellow traders, by having a plan when you get started and sticking to it. The secret is in knowing what systems you shouldn’t trade, what e-books aren’t value for your money and that there is no holy grail system that is going to take your account balance and add some 0’s on the end, without a bit of effort and patience on your part.

Stop looking for the ultimate forex trading secret system and you could actually learn something and maybe even make some money trading forex.