If you want to be a great trader, then you need to find your Inner Forex Trading Robot.

Robots are Devoid of Emotion

They would not jump in a trade on impulse or a "gut feeling." They would not panic and sell a winning trade early, they only know their profit point and nothing else. Certain mental and physical states are not productive for trading, you should never trade when you're experiencing intense emotions. Traders are much more likely to make poor decisions when they're distracted. So you must become a cold calulating robot.

You Must be Analytical like a Robot

The best traders are highly analytical, they assess a situation and react accordingly. They're constantly asking themselves why did the market react this way, and when they finally find a pattern that makes sense they execute their trade.  Forex robots are always analyzing the charts looking for enough evidence also known as valid parameters to support a trade. Most traders look for least three pieces of corroborating information before entering a trade, but they do not use redundant information such as two oscillators.

You Must be Patient like a Robot

Keep in mind there will always be other opportunities, so you don't need to jump on every trade. A robot always analyzes and waits for a set of very specific predefined conditions, their plan. Do not over trade. A winning trader is like a winning poker player, they may only win 56% of the hands they play, but that is still a winning percentage.

Robots can Never Act other than how they were Programmed

Have a precise plan. You must is it like it trade the same way, you must have a defined entry point, a maximum loss, a stoploss that is less than your maximum loss, lot size calculated from maximum loss size, and points of profit where you will sell lots. Every trade must have these or you should not trade.

Robot have Predetermined Risk Management Rules

Starting with the maximum loss rule. Trader must decide how much they are willing to lose on any one trade, usually a percentage of their total account. For example on your $50,000 practice account if you had a 2% maximum loss that would allow for a loss of thousand dollars per trade. So if you determined your stoploss to be at 50 pips, you could buy up to two lots for that trade. The reason this is a percentage is so that as your account value falls you must become more conservative with your trades, and as your account value rises, you can take on more risk.

Risk management is one big advantage that actual Forex robots have over human traders. New traders tend to ignore something as fundamental as risk management and this costs them, whereas Forex robots have no choice but to obey their risk management rules. You need to know when to hold them and you need to know when to fold them, good trading is all about cutting short your losses and letting your winners run. The best traders may have only 60% winning trades, but they know how to minimize losses and maximize gains. That is why your winning percentage really doesn't matter, it's all in how you manage your trades. Ignoring this one rule is a big reason that 90% of new traders lose money. You must always be thinking what can I do to protect my profit, how can I reduce the risk in this trade. A famous quote says, "Beginning traders are always concerned with how much money they can make, while professional traders are always concerned with how much money they can lose." Think like a professiona

Forex Robots Will Never Revenge Trade

What you need to realize is that your ego is the enemy the market is always right, and you either agree with the market and make money Or you Disagree and lose. Learn to follow the trends and to be on the same side of a trade as the "big money" investors.

Forex Robot are Never Overconfident

Do not let winning trades go to your head. It's a proven fact that when a professional trader goes on a winning streak, their risk management manager will force them to take some time off. It is human nature to exceed your risk boundaries when you're on a winning streak. This will cause you to give it all back 9 times out of 10. You must always have a clearly defined rational reason for entering a trade, always stick to the plan!

Consistent Monthly Gains are the Mark of a Good Trader

This is accomplished by setting an achievable monthly goal. And were not talking 100% return in one month as a reasonable goal. 5% maybe even 10% are much more sensible goals. You're not going to break the market your first trade. As you get more comfortable trading you can always increase your monthly goal. This allows you to continue trading if you beat your quota for the month but if you fall below your quota you stop.

Forex Robots will Never Increase their Risk in a Trade

The most risk you should ever take is when you first open a trade. From then on you should then only tighten your stoploss, never ever loosen your stop. And if you don't use a stoploss then don't bother trading. You'll just give your money to other traders. You should not hold more than 3 to 5 positions on any account. It's hard to hold more than that anyway without owning redundant positions, which is dangerous because one wrong turn on the currency and you wipe out your account.

A Robot does not Average Down or Double Down in order to Escape a Trade

Detatch yourself from every trade, you will always have some winners and some losers. Losing is part of the game. Just stick to your plan and if you are in a losing trade simply let the trade kick out at your established stoploss. Averaging or doubling down is an extremely dangerous trading methodology. Too many accounts have been wiped out hoping for that currency pair to turn back to break even and instead got a margin call.