For those new to forex robots, they are fully automated trading systems that analyse charts for trading signals based on their built-in algorithm. This is usually comprised of a combination of technical indicators. Once the robot finds a signal, it can place and manage trades on behalf of the user. They are therefore a popular choice amongst users who do not have the time to trade manually.
You can see a selection of my best forex robots and download my free forex robot if you like.
Most forex robots have been developed to run in the popular and free to download MetaTrader 4 (MT4) trading platform which is available from most online forex brokers. You need to have the MT4 desktop platform running in order for a robot to work. If you cannot always have your computer running then you could use a Forex VPS to run the platform 24/7 without needing your computer switched on.
Forex robots will usually have already been optimised by the developer to find the best settings. The instructions will tell you how to setup the robot and what currency pairs and chart time frames the robot has been designed for. They can therefore be used “out of the box” although you should make sure that it is set with a lot or risk size that is suitable for you.
The more experienced traders can optimise robots in the MT4 strategy tester using historical data to create bespoke settings. I believe that all back tests should be conducted with 99% modelling quality using real tick data, variable spreads, swaps, slippage and commissions. This can be done using add-on software such as Birts Tick Data Suite for as accurate as possible historical results. Even then, these results are not always realistic due to factors that are impossible to duplicate during a back test.
It is important to note that there are absolutely no guarantees on how any forex robot will perform and historical results are not an indication of future performance. Forex robots can advertise big profits but you should be aware that many of them are based on back testing and therefore may not perform the same going forward. Furthermore, differences in broker trading conditions such as spreads, slippage, liquidity and commissions, can cause different results from broker to broker.
Forex Scalping Robot is an automated trading system designed for traders who want to use algorithmic strategies on MetaTrader without being restricted to a single trading model. Rather than operating as a basic Expert Advisor built around one entry condition, Forex Scalping Robot takes a broader approach by combining multiple ..Read More
Introduction Zoomini EA MT5 is an experimental machine-learning trading system developed specifically for XAUUSD on the H1 timeframe. It comes from the GoGoPips research project and is marketed less as a finished “holy grail” trading robot and more as a live machine-learning experiment. That distinction is important. The developer openly ..Read More
Introduction ZenQ AI EA MT5 is a fully automated trading system combined with a comprehensive trading-control and analytics environment for MetaTrader 5. Rather than functioning only as a simple Expert Advisor that opens and closes trades, ZenQ attempts to provide an entire trading workspace inside MT5. The system incorporates: Automated ..Read More
Introduction Zenith FX EA MT5 is an automated trading system designed for two markets: XAUUSD USDJPY The EA uses H1 as its recommended operating timeframe and is marketed as a selective single-entry system rather than a recovery-based robot. The developer explicitly states that Zenith FX does not use: Grid trading ..Read More
Introduction XAU Breakout Scalper EA MT5 is a highly configurable automated trading system developed primarily for Gold trading. Its design combines two separate trading engines: A ZigZag breakout strategy A SuperTrend-based precision strategy Both can operate independently or together. Unlike many commercial Gold robots, XAU Breakout Scalper explicitly rejects recovery-based ..Read More