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Category: Forex Robots

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.

Are forex robots legal and are they worth it?

December 11, 2022December 28, 2022 The Forex Geek

Forex robots are legal, but being legal does not mean that all forex robots are reliable and legitimate. There are so many forex robots out there nowadays, you need to know how to sift the good from the bad forex robots. I will help you do that by giving some ..Read More

Forex Robots

Forex Scalping Robots

December 6, 2022December 28, 2022 The Forex Geek

If you are looking to trade forex automatically, you might be considering a forex scalping robot. They can all of the hard work for you, from analysing currency pairs to placing and managing trades without you needing to lift a finger. This makes them a popular choice for those who ..Read More

Forex Robots

Free Forex Robots for MetaTrader 4

December 2, 2022December 28, 2022 The Forex Geek

If you are looking to trade forex but do not have the time to commit to learning how to trade manually, you could always consider an MT4 forex robot. There are literally thousands of paid and free forex robots for MT4 that you can choose from, covering all types of ..Read More

Forex Robots

Forex Robots for the MT4 platform

November 30, 2022December 28, 2022 The Forex Geek

If you are looking to use an automated forex trading system, one of the best options are forex robots for MT4. MetaTrader 4 (MT4) is the most widely used forex trading platform and therefore has literally thousands of free and paid forex robots that you can choose from. Whatever your ..Read More

Forex Robots

Which Forex Robot Is the Most Profitable?

November 29, 2022December 28, 2022 The Forex Geek

Forex robots can automatically scan the forex market and take trades on behalf of the user. This makes them a popular choice for anyone who does not have the time or skills required to manually trade currency pairs. However, with so many forex robots to choose from, both free and ..Read More

Forex Robots

What Are Forex Robots?

November 28, 2022December 28, 2022 The Forex Geek

Forex robots are automated trading systems that can analyse the forex market using built-in trading algorithms to find trading signals. When the forex robot identifies a buy or sell signal according to the forex trading strategy implemented withing the code, it can place and manage a position on behalf of ..Read More

Forex Robots

DAX Day Trader Review

November 24, 2022December 28, 2022 The Forex Geek
Dax Day Trader Review

In this post I will be reviewing the DAX Day Trader EA which is an automated trading system that can analyse charts, place and manage trades on behalf of the user. Whilst automated strategies may seem like an attractive proposition for anyone who does not have the time or knowledge ..Read More

Forex Robots

Do Forex Robots Work?

November 18, 2022December 28, 2022 The Forex Geek

Yes, forex robots do work but there are many things to consider before you use any automated forex trading system. You are doing to be trusting a trading algorithm to place trades and manage your account on your behalf. Therefore, you need to know what you are looking for and ..Read More

Forex Robots

Free Ichimoku Kinko Hyo Expert Advisor (EA) Download

October 31, 2022December 28, 2022 The Forex Geek

Ichimoku cloud is a type of technical analysis method that is often simply called Ichimoku. It is based on Japanese candlestick charting to predict future price movements. This trend-following tool allows you to identify price action at a glance, even from large amounts of data, via multiple graphical elements. The ..Read More

Forex Robots

Free Envelopes Expert Advisor (EA) Download

October 31, 2022December 28, 2022 The Forex Geek

The moving average envelope is a technical analysis indicator, showing lines above and below a moving average. The starting point is a simple or exponential N-period moving average which is calculated as the average of the currency pair price for each of the previous N periods (usually days). Price envelopes ..Read More

Forex Robots

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