Automated Forex trading
This section is dedicated to various types of automated Forex trading. Here you'll learn how to make money without technical or fundamental analysis. Which techniques are most effective, and which options are best avoided.
Automated trading – trading using advisors, specialized platforms, and copy trading.
Choosing an automated advisor for Forex trading
Algorithmic trading has long won the hearts of many traders across various exchanges worldwide.
Automated programs are used not only by individual investors but also by reputable hedge funds managing billions.
While there are many opponents of script-based trading, there are even more proponents of robots.
So what is the correct answer to the question, "Should I use expert advisors when trading Forex?"
Surprisingly, the answer depends on how you choose your advisors and then use them.
The best CopyFX accounts from RoboForex
RoboForex is a leading
brokerage company trading in the Forex and binary options markets.
Since its inception, the company has positioned itself as the best broker in the field of automated trading, especially since the name fully corresponds to the company's direction.
RoboForex is known not only for its promotions and favorable trading conditions, but also for its innovative service for investors copying the trades of successful traders.
For many investors, CopyFX offers an excellent opportunity to invest their money while maintaining full control and the ability to close risky trades. For traders, it offers the opportunity to earn additional commissions for their signals .
ZULUTRADE – punishment for indecision.
Greetings, dear visitors. Today I'd like to share another report with you and discuss a simple mistake I personally encountered. Remember in my previous article, "ZULUTRADE – THE FIRST TIME IS A LUMP," where I shared my first failure with you and how a single manager's mistake can completely upend the overall picture.
So, based on the results of the previous article, we came to the conclusion that it is necessary to remove a couple of managers because they use martingale, creating high risks with low profits.
I then concluded that the manager had simply entered a drawdown and, as was his wont for the past six months, would undoubtedly recover. And that was my mistake. I had broken all the rules of investing, gotten greedy, and hoped that, as always, everything would pass me by.
METAQUOTES – signal copying available to everyone!
Greetings, dear visitors. Today, I'd like to join you in selecting a sample portfolio
of managing traders to copy their trading. As you know, METAQUOTES has opened up new opportunities for investors by launching a service for copying successful traders' trades through the MT4 trading terminal.
By the way, you can learn more about the service's operating principles in my previous article, " METAQUOTES TRADING SIGNALS ." Almost all brokers work with this service, making signal copying more accessible than with other services, as you can copy trades even on cent and micro accounts without having to spend a large amount of money.
Initially, according to the system rules, you can connect only one trader to one account.
MetaQuotes Trading Signals
Until recently, copying the trading signals of profitable traders presented a number of difficulties, stemming from the
need to use additional platforms or, worse, additional software. Therefore, to find truly successful traders, investors had to register with various services and undertake complex selection processes.
MetaQuotes is the leading developer behind the well-known Meta Trader trading terminal. We've all worked with this platform, but just a year ago, the developers delighted us with new news: the ability to copy trades of successful traders will now be available in the trading terminal.
You might be wondering, what's the difference between the MetaQuotes signal copying service and other similar signal copying services?
ZULUTRADE – the first pancake is always lumpy
Greetings, dear visitors. We previously collaborated on selecting a sample portfolio of managers, which you can read about in the article titled
" ZULUTRADE – FIRST STEPS TO SELECTING REAL MANAGERS ."
To trade on an account of $10,000, five managers were selected who, at first glance, seemed to have good trading statistics.
Almost all five traders are leaders in the Zulu rating, but during real testing, pitfalls were revealed, which I would like to tell you about today.
Initially, the two weeks of testing yielded excellent results, as almost all managers maintained their high performance standards. At the time of writing, traders had successfully generated $300 in profits.
ZULUTRADE – the first steps to selecting real managers
SETTING UP ZULUTRADE, I discussed the platform's basic signal copying capabilities, the various traders' filter options, and how to approach analyzing their trading strategies.
Today, I'd like to work with you to select several managers, look at their statistics, and share my initial results and, not surprisingly, my initial mistakes.
So, to begin with, I decided to open a demo account with the company for $10,000 to select the first traders and see how they trade in practice, rather than based on the platform's promises.
Lamm or Pamm account?
Today, it's not just traders who can make money on the Forex market, but anyone who considers themselves an investor. And
you don't have to be a billionaire like Buffett or Bill Gates, as the brokerage industry has developed so much these days that investing even just $1 can make you feel like an investor.
This became possible thanks to the emergence of PAMM and LAMM accounts, where you can both invest in a specific trader's account and easily copy the trading signals of a good manager.
Today, there are very few brokers that offer both PAMM and LAMM accounts. This allows you to invest your money in a manager or simply copy their operations proportionally into your account.
For those new to the subject, I'll try to explain the difference between PAMM and LAMM accounts, as well as the pitfalls they can pose.
Setting up ZuluTrade
Lately, I've been increasingly seeing websites offering various miracle courses on automated trading. Once
purchased, you'll immediately become a super investor and start making big money.
Typically, these courses cover copying signals from successful traders through the ZuluTrade platform and how to choose a manager.
Since I have encountered more than one such course, I can tell you right away that you should under no circumstances buy these courses, because after reading this article, most of the questions related to copying and choosing a manager will disappear.
ZuluTrade is a universal platform where successful traders gather to distribute trading signals in exchange for system fees.
Moreover, the number of such traders is simply enormous, which will allow you to find a truly worthy candidate and multiply your profits several times over, without knowing how to trade.
How to use Forex Expert Advisors
Recently, most traders have been shifting to automated trading, either by custom-designing various
advisors or simply downloading and customizing experts from our website.
While traders are typically familiar with how to install an advisor in a trading terminal, most beginners don't even understand the basic principles of a trading terminal, let alone how to install experts and their basic settings.
To install a Forex advisor, you need to download it from our website in the Advisors . This section includes both demo versions and completely free robots.
Next, launch your trading terminal and use the File menu to access the data directory. You can see an example in the image:
Checking and testing advisors.
This type of automated trading, such as trading with advisors, is fraught with many dangers, which is why most professionals refuse to use them.
If you decide to switch to automated trading, you need to know how to use advisors correctly to avoid running out of money.
Practically, using advisors can be divided into several stages: selection, testing, and verification on real accounts.
• Choosing an advisor is usually not particularly difficult; some focus solely on the size of profit, others on the stability of trading.
You can choose the appropriate option on our website in the relevant section http://time-forex.com/sovetniki
Options for automated Forex trading.
Most traders, having tried independent forex trading, realize that trading isn't as
easy as brokerage companies make it out to be.
Automated forex trading offers beginners a real chance to make money even without much experience or knowledge. However, don't assume that you don't need any knowledge to use this method.
There are several automated trading methods, each with its own pros and cons, which we'll discuss below.
Trading with Expert Advisors.
The most well-known automated trading method uses specialized scripts installed in the trader's trading terminal. By default, the terminal already has five or six robots in the "Expert Advisors" section.
Types of Forex Expert Advisors
If you start learning stock trading with books by famous traders, you'll likely never stumble upon the
expert advisors section. The fact is, the books that almost all beginners use, and the learning curve, are as old as the traders themselves, and sometimes even older.
However, time marches on, and progress never stands still. Therefore, with the rapid development of personal computers, stock trading began to enter a new era of development.
It's hard to imagine a trader sitting not at home at a computer, but somewhere with a piece of paper outside a brokerage firm's door. New technologies and software developments have led to new types of programs that are so actively used by modern traders. The most popular aids for profitable trading are Forex expert advisors .
Principles of work of advisers.
The main and most popular type of automated Forex trading is expert advisors . This type of script is the most
attractive to trading enthusiasts, as it offers various ways to earn money.
An expert advisor is a program that almost completely replaces a trader in the trading terminal, allowing you to profit without delving into the intricacies of the currency market.
There are a huge number of paid and free automated trading programs, each with its own strategy and profitability level.
What can automated robots do, and what are their uses in Forex trading?
