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 Happy News expert advisor (EA) which is yet another fully automated forex trading system for the MT4 platform that has been developed by the team over at Happy Forex. I have reviewed other forex software from Happy Forex including Happy Frequency EA, ..Read More
In this post I will review the Happy Trend fully automated forex trading robot developed by the Happy Forex team who have a selection of expert advisors (EA’s) available. I have reviewed other forex software from Happy Forex including Happy Frequency EA, Happy Breakout EA, Happy Neuron, Happy Market Hours, ..Read More
In this post I will review the Happy Way forex robot which runs in the MetaTrader 4 (MT4) platform. It is a fully automated trading system that will place and manage trades on behalf of the user. You just need to take some time to setup the robot using the ..Read More
Happy Neuron is a forex robot created by the team over at Happy Forex. The Happy Forex website has a selection of commercial forex robots including this one, and some others that I have previously reviewed, including Happy Frequency EA, Happy Breakout EA, Happy Market Hours, Happy Fast Money, Happy ..Read More
Happy Power is another fully automated forex trading strategy from the Happy Forex team. I have reviewed other forex software from Happy Forex including Happy Frequency EA, Happy Breakout EA, Happy Neuron, Happy Market Hours, Happy Fast Money, Happy Algorithm Pro, Happy News, Happy Trend, Happy Gold, Happy Indicators Pro, ..Read More
In this post I will review the Happy Fast Money expert advisor (EA) which is yet another fully automated forex trading system for the MT4 platform developed by the Happy Forex team. I have reviewed other forex software from Happy Forex including Happy Frequency EA, Happy Breakout EA, Happy Neuron, ..Read More