How To Get The Most From Your Automated Forex Trading Software
If you’re into automated forex trading software, you must choose between the one that only provide you with a potential trade opportunity (AKA trading signals) and the one that require no human interference at all as it can analyzing and placing orders by itself. You may already have recognized the second one as forex robot or EA; this one seems to have a lot of users, so I’m going to focus on this one.
You’ll find many forex robots that created by mere programmers who can only win during backtest (because they’re created solely with that goal: winning at backtesting), but there are a few robots that really work and backed up with profitable trading system from real trader. But getting your hands in this robot does not mean that your search is over and you can watch the money rolling in; this is a mistake that have been made by many robot owner and they’ve paid dearly for that.
One fact that you need to realize is no matter how profitable the trading system behind your automated trading software (be it forex robot or trading signals), they need certain conditions where they can run at their 100% capabilities and you as the owner must provide it for them. These are factors that tend to overlook by forex robot owners:
1. Trusted Forex Broker
You can have the best forex robot in the world, but it means nothing if your broker tackle your trades. Your broker can sabotage your trades by cutting your connection, tackle your trades, delay your order execution, etc. There are hundreds of forex broker around the world, some are real, but there are also scam brokerages.
The easiest way to identify a credible broker is checking their registration at the official financial authority such as FSA or NFA; but even with that you can’t be 100% sure, so be very careful. My top recommendation for online forex broker would be AvaFX, I suggest you read more about them at a review of AvaFX .
2. VPS (Virtual Private Server) with Steady Connection
Unlike trading signals, forex robot is an automated trading software that need a place to host it. Usually, it is impossible to run your robot from home due to downtime and other connection issue; also, if your robot goes off when your PC is off, you’ve lost many potential profits opportunity.
This is where VPS comes in; basically, you rent space in a server to host your forex robot so it can run 24/5. There are many companies that offer this service, so make sure you choose the one that doesn’t go down too often.
3. The Best Currency Pairs
This information can be obtained from your robot’s user manual; use this info wisely and set your robot so it only trades the currency pairs that it has optimized for. Some forex robots creators said that their robots can conquer all currency pairs in forex market, but in reality, there should be a few currency pairs where the robot are most profitable; I suggest you keep it running only in these pairs.
In some cases, there are third party providers that offer enhanced settings for your forex robot, thus allow you to trade more aggressively or trades on different currency pairs. This offer may be real, but there is also possibility that it only rubbish settings, so it is a good idea to test it in a dummy account first.
It is possible to use automated trading software to gain steady profits from the forex market, but you can’t charge blindly to the first offer you met. Take your time in testing different robots and when you finally get one, put attention to the three factors stated above to make sure your robot run at its 100% capability. Learn more about the top robot at the moment at a review of FAP Turbo or simply check my top recommendation at top rated Expert Advisor .
The Truth About Expert Advisor
If “expert advisor” sounds strange in your ear, you may have stumbled upon more “common” terms: automated trading software, forex robot, or simply EA (short for Expert Advisor). Basically, they are all just different terms for one thing: an automated script that run under your MT4 trading platform to watch the market for potential trade, maintain positions, and place orders by itself without any trader interventions. Theoretically, this is an ideal solution to overcomes a human trader weakness: inability to watch the market 24/5 without rest at all.
Most expert advisor are written in MQL-4 programming language and designed to run under MetaTrader 4 trading platform. These advisors can help you in two different ways: send you info when a profit opportunity occur at the market (AKA trading signal) or taking over all your job as a trader by automatically analyzing, executing orders, putting stop loss and take profits order, and managing open positions by itself. Read more about the benefits of using the second version at forex software – the trading robot .
If you’ve been a fan of manual trading for a while and have got your share of profits, I know that it sounds too good to be true. Selling low price program that can do better in trading forex than you does sounds a little fishy. Well, there is truth in that way of thinking; over the years, there are many investors lose their money because they trusted their fund to be managed by an EA. It turn out that most of these EAs are not “expert” at all since all that they can do is get winning trades in backtesting (testing them against past market data), not in real live trading. This is the hard truth behind many forex robot in the market and up until this date, many scam programmer still creating similar robots.
“I knew it” is probably what you think now, but there’s another side of the coin that you must know too. It is purely logical thinking and not rocket science at all, so bear with me for another 2 minutes.
If you’ve been trading for a while you must’ve known that every successful trader have their own trading system that can works without fail in their area of expertise; maybe swing trade strategy on USD-JPY currency pair, maybe long term 3-7 days strategy on GBP-USD, maybe intraday scalping method on EUR-USD, or maybe they have a few set of strategies for different market condition. Nevertheless, all of them following a set of rules while trading and they gain steady profits by follow it with strict discipline.
You should’ve understand the basic concept by now. All the EAs are just a bunch of codes that executing what they’ve programmed for; to be exact, they’re merely executing the rules behind them, these rules are what make them truly “expert” or truly “trash”. When the rules are made by an experienced trader who has use the same rules to make a living from trade forex, the EA will mirroring the trader and become a real “expert”; on the other hand, if the rules are made by some programmers whose aim is only to match the program to win in backtest, the EA become real “trash”.
How to differentiate them? A simple yet effective way to test it is run your EA on a practice account for minimum 4-5 weeks (you will need to pay a VPS service); from the result you can judge its performance against the volatility of real market. Most of them are “forced” to offer 60 days 100% money back guarantee due to the merchant rule, so you’re safe to test it during that period. You can get $100,000 MT4 dummy account at AvaFX; read more about them at a review of AvaFX.
Don’t let your prejudice cloud your judgment; although most of the current expert advisors at the market are merely scams, there are a handful that really work and you can use them to achieve even greater profits from the forex market. Check and test the top recommended forex robot at top rated Expert Advisor .
The New Forex Trading System
Finally, here’s a Forex scalping product that will offer forex traders all they really desire and much more, simply minus all of the risk usually associated with trading! The product is called Delphi, named after the all-knowing oracle of Greek myths and legends. The main reason this mythical name is appropriate is because this piece of scalping software can tell you the future movements in the Forex scene aided by the sort of accuracy not ever observed before. All it is necessary to do is to pause for all of the “four pillars” of the scalping software to link up, then you quickly pull the lever, grasp all of your pips and leave the deal just as the experts do. The whole lot is usually much easier when using Delphi scalper to trade.
A different benefit when using this software, Delphi Scalper is it is able to offer traders with accurate opening and exit instruction along with enabling traders to pre-set stop losses on each one of all the trades that you make. All that you must to be able to do so as to utilize the Forex scalping software Delphi is find a way to read arrows that are red and green as well as having the ability to master a number of easy to follow regulations. Then, it will merely take a few minutes to find out really how to scalp with Delphi, which removes the need for you to be 2nd guessing but doing so wrongly, which results in losing trades.
This scalping software has not been made for traders with a particular amount of experience (or even no experience at all). Indeed it can be used by those just beginning their career in trading or those who’re a bit more skilled, maybe even at an complex phase! To assist people trading, Delphi scalping software even enables traders to select whether you wish to start trading {in an} simple mode or even a complex mode. When you are forex trading in the easy option, you will observe that it takes away one hundred% of complex subject matter which may be misunderstood, in place of informing traders specifically how to trade. Whereas on the other hand, the complex mode, gives forex traders increased accuracy and personalisation.
As soon as you make the decision that you wish to start scalping, you will understand there are ideal trading times to trade and then alongside these awful times to trade. The trading times which are probably the most moneymaking are clear already, so this means all that needs doing is hold on for that opportunity to become noticeable after which you can get up and go.
Delphi really is one of the most extremely helpful systems to have yet been seen on the trading market. For more information check out this helpful Delphi System review.
An Honest Review Of FAP Turbo
Is FAP Turbo software a scam?
When examining potential Forex trading robot programs, many people fall prey to clever little tricks and tactics employed by the software’s authors to exaggerate or distort the program’s effectiveness.
One such tactic is by displaying results of “back testing”.
The back testing results represent the results of the forex robot software running in demo mode ie. dummy cash mode and although they can give a decent representation of how well the software may be able to perform, they also can be edited to fit the bill.
The thing you need to pay attention to is the equity curve (showing your potential rise in profits each day/week/month).
After visiting the FAP Turbo website I was surprised to see that they display LIVE trading data from their 4 real money accounts which are updated every 15 minutes, seemed at first like so many of the other FAP Turboautomated Forex trading programs out there…a little over stated for my liking, but after viewing the 4 live independent trading accounts on the author’s site I soon became persuaded.
So, in order to establish whether the FAP Turbo system is legit or not, we need to consider the following factors:
1. Winning Percentage
The first and foremost key to a good Forex robot is the winning percentage it produces. Now, many people take figures that are produced over a couple of weeks as golden, but the real secret is to look at long term figures for a better representation.
The beauty of FAP Turbo is that the winning rate in the past 9 years has been 95% on average, with live testing showing even better winning percentages.
Clearly, the software can make you money from this factor alone.
2. Drawdown
Drawdown is also an important consideration when choosing Forex trading software because it measures the maximum percentage of capital that the software has lost you.
It’s not unusual for the average automated trading software to suffer draw downs of approx. 10 and 20 %. After evaluating and reviewing the FAP Turbo system, we were excited to see that their software boasts an average drawdown of just 0.35%…very impressive.
As you can see, these figures are pretty promising when it comes to Forex trading software that will make you money on autopilot.
What we found out during our extensive FAP Turbo review (see bottom of article) is that the FAP Turbo software seems to trade for long term rather than short term, and makes you money from trends that are more stable as a result (probably why the success rate is more predictable for so many people).
We also noticed even before trying out the software that the videos, screenshots and other elements of proof on their website are pretty consistent…because the back test results and the live results share a similar pattern of equity growth, whereas many bogus schemes will show inconsistencies in their results because their back tests are falsified to inflate the true performance (using different rules in demo mode compared to real live trading).
Considering the great weight of evidence plus the largely impressive trading figures the FAP Turbo Forex Robot has delivered for nearly 10 years now, it is almost impossible to turn a blind eye to such a powerful piect of automated trading software.
Read the full FAP Turbo review here.
http://fap-turbo-review.info/