Choosing an automatic advisor for Forex trading

Algorithmic trading has long won the hearts of many traders trading on various exchanges around the world.

With the help of automatic programs, not only individual investors earn money, but also reputable hedge funds that manage billions.

At the moment, there are a lot of opponents of trading using scripts, but there are also even more supporters of robots.

So what is the correct answer to the question – “Is it worth using advisors when trading the Forex market?”

Surprisingly, the answer to this question depends on the principle by which you select advisors and then use them.

First of all, I would like to note that profitable algorithmic trading requires, at the initial stage, quite a lot of time.

Traders who don’t understand this almost always lose their deposits and lose their money.

And so the stages of choosing an advisor for Forex:

•    Selecting the right script – one of the most crucial moments. At this stage, you need to select at least a dozen suitable robots.

Moreover, it is desirable that these robots be highly profitable; I will explain why this is necessary below.

Paid or free – it all depends on your competence; if you are not particularly strong in optimization, then choose paid options with good support.

• Testing – all selected robots must be tested first on history, then on demo and cent accounts .

In the process, we identify leaders and outsiders, so to speak, the best options.

It is desirable that there are at least five suitable advisers left. • Risk diversification – when trading on real accounts, distribute your funds equally among the selected scripts.

No matter how good and protected the advisor is, there is always a possibility of losing the deposit, so you should not trust your money to just one robot.

Now let's get back to the question of profitability.

When selecting, try to choose only the most profitable advisors with a return of at least 50% per month. This will allow you to cover losses if one of the robots allows a large drawdown of the deposit. This system of selection and use requires a lot of time, but also guarantees a positive result.

Brokers for advisors - https://time-forex.com/vsebrokery/brokery-sovetniki