Make Money while you sleep with Automated trading – part 1 of 3
There are a few ways which you can make money from automated systems which I’ve tried and tested. I’ll post the first one here and I’ll do the others on a separate post.
Collective2
The first one is a company called Collective2, their website is here www.collective2.com
They have just under 4000 trading systems submitted by people and the idea is that you sign up to one of them and receive alerts when to buy and sell, take profit etc.
How do you choose your system?
Before you select your trading system, you’ll find a wealth of tools you can use to decide which trading system suits your personality. There are scalping systems, day trading systems, positional trading systems etc. You decide if you are a conservative trader or prepared to take a bigger risk (for a potentially bigger gain). Then there’s the choice of different markets which you want to trade.. for example, futures, forex markets, indices etc.
There are graphs and stuff so you can see how the system has traded over it’s lifetime. You probably want to select something that’s been going for a while, read the comments that people leave etc.
Another thing to note is if the system changes, I was previously subscribed to a very profitable system and then the author changed the way it traded and it just lost heaps.
Ok, the next thing is to decide if you want to receive alerts to an email address of yours (so that you can manually trade the signals) or if you want, you can sign up with a broker which can automatically trade these for you.
I suggest that you first see if you can sign up with a test account first and see if the signals are implemented correctly. I’ve read some comments that sometimes the signals can be some timeframe out.. obviously if you’ve subscribed to a scalping system and hope to autotrade it in this instance, you’re in deep poo poo!
If you’re in the UK, there is the advent of spreadbetting where trading profits are tax free. I throughly recommend visiting Futuresbetting.com if you want to go this route.
The other good thing is that you can spread your risk.. you can choose a few trading systems you like and carve up how much you want to trade each system. This should spread the risk for you.
I’ve had some really good results through this and if you find a good system (or systems), it’s nice to wake up and find a few £££ extra in your account! 🙂
