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.
In this post I will be reviewing the Algo Trend EA. This is an automated forex trading strategy that has been programmed to run in the popular forex trading platform, MetaTrader. You can download MetaTrader free of charge from most forex brokers. It is worth mentioning that you will need ..Read More
I’ll be examining the Forex Xcelerator in this article. This is an automated forex trading technique that has been set up to function in the well-known MetaTrader forex trading platform. Most forex brokers offer MetaTrader for free download. It is important to note that running forex robots requires the desktop ..Read More
I’ll be reviewing the Prop Firm EA in this post. This is an automated forex trading system that has been set up to function in the well-known MetaTrader forex trading platform. Most forex brokers offer MetaTrader for free download. It is important to note that running forex robots requires the ..Read More
I’ll be reviewing the Bonnitta EA in this post. This is an automated forex trading strategy that has been set up to function in the well-known MetaTrader forex trading platform. Most forex brokers offer MetaTrader for free download. It is important to note that running forex robots requires the desktop ..Read More
If you are in the marker for an automated forex trading system, you may have considered the Algo Plus EA. This is a fully automated forex strategy that can trade multiple currency pairs and gold (XAU/USD) in the ever popular MetaTrader 4 (MT4) desktop platform. In this Algo Plus EA ..Read More
Automated trading, sometimes referred to as algorithm trading or a mechanical trading system, uses software that is supported by algorithms to carry out trades quickly. Using pre-programmed trading instructions based on time, volume, and price, investors and traders input trading software. By enabling quicker execution of your trading techniques, automated ..Read More
The Royal Hedge Fund EA is an automated forex strategy that has been developed to trade in the MetaTrader 4 platform. I expect you may be looking for a hands-off forex trading solution if you are considering using this software. Whilst it can be an option for those who do ..Read More
If you are looking to pass a funding challenge for a prop trading firm or just interested in automated forex trading strategies, then you may have come across the POW Banker EA which has been doing the rounds. Whilst hands-off algorithmic trading may seem like an attractive proposition for those ..Read More
Forex Extract is an automated forex trading strategy that has been developed to trade automatically in the ever-popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. This team of developers have a whole host of other EA’s that I have previously reviewed including Forex inControl, FxDiverse, FXCharger, FXParabol EA, FxStabilizer, ..Read More
The Golden Pickaxe EA is an automated forex strategy that has been programmed to run in the MetaTrader 4 and MetaTrader 5 platforms. This forex robot can automatically scan currency pair charts for trading signals based on its built-on trading algorithm. When the Golden Pickaxe expert advisor finds a valid ..Read More