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.
Traders who don't understand this almost always drain their deposits and lose their money.
So, here are the steps to choosing a Forex advisor:
• 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 are highly profitable, why this is necessary I will explain below.
Paid or free – it all depends on your expertise. If you're 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 to have at least five suitable advisors.
• Risk diversification – when trading on real accounts, distribute your funds equally among the selected scripts.
No matter how good and secure the advisor is, there is always a risk of losing your deposit, so you should not trust your money to just one robot.
Now let's return to the issue of profitability. When selecting, try to choose only the most profitable advisors with a yield of at least 50% per month. This will allow you to cover losses if any of the robots allows a large deposit drawdown.
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
