Trading Forex using Expert Advisors (Foreign Exchange Auto-Trade)

Automated Forex trading means trading currencies using automated software called an Expert Advisor or else Forex Robot. An Expert Advisor is a tiny piece of software that plugs in a trading platform in order to deliver non-stop and non-human controlled Forex trading. Most of Forex Robots are developed for the MetaTrader4 platform but there are also many robots available for other Platforms such is MetaTrader5, JForex, TradeStation, NinjaTrader etc. Forex auto-trade originates back in 1999 when the online retail trading was born.

“Forex Auto-Trade can be also found as algorithmic trading, robotic or black-box trading”

How an Expert Advisor Actually Works

Most Expert Advisors are running as Forex Scalpers. Scalping means opening tens of trade positions each day lasting a few minutes and targeting returns of 5-10 pips. These Forex Robots incorporate a trading strategy designed to trigger and execute trades under certain conditions. These conditions are based on technical analysis tools and that means the existence of 2-4 indicators operating as filters to the Forex Price Action. Once the readings of these indicators meet certain criteria then a trade is executed. Additional filters can contain variables such is spread control, focus on certain session or news avoidance.

Usually most of the Expert Advisors available trade the most liquid currency pairs and especially EURUSD, GBPUSD and USDJPY.

Adapting on Personal Profiles

Users almost always can interfere and alter some of the variables of the implemented trading strategy by tweaking manually the technical parameters of the program.

Forex Expert Advisors at ForexRobots.net

Forex Auto-Trade Advantages

Here are the main advantages of Forex Auto-Trade:

(1) An Expert-Advisor works non-stop 24/5

(2) An Expert Advisor can execute tens of trades per day without feeling fatigue

(3) Forex Robots do not face human weaknesses such is fear or psychological swings

(4) Forex Robots can execute trades in tiny segments of a second which is very useful for a scalping-machine

(5) Forex Robots can monitor tens of different currencies simultaneously and chose their trades upon a wide range of different choices

(6) Different filters can be applied including instant spread or slippage control

(7) The use of automated software provides traders with the chance to manage multiple trading accounts simultaneously

Forex Auto-Trade Disadvantages

Here are the main disadvantages of Forex Auto-Trade:

(1) Forex Robots can not distinguish the effect of important news in the currency market

(2) Forex Robots require the use of a VPS Hosting, and that means $40-60 cost per month (some Forex brokers offer free VPS)

(3) Forex EAs is an unregulated market which contains tens of Forex scams

» Fast Forex VPS Hosting and 10% Discount by Forex-Rebates.com

Tips when Trading Forex using an Expert Advisor

The are hundreds of Forex Robots available today some of these tools have really performed well during the past decade (for example FAP turbo during 2008-2010), others not. Here are some important tips:

(i) Do not believe someone who promises extreme returns without any risk. Give extra weight to historic performance by focusing on actual profits in pips and not on just the winning ratio (%)

(ii) Choose Expert Advisors which are programmed by professional traders who use them in their own trading accounts

(iii) Demand a high level of technical and service customer support

(iv) Test any Expert Advisor on a demo account before you use it on your real account in order to test the performance and optimize the parameters

(v) Do not trade manually on an account that an automated machine is running already. If you execute trades manually you can confuse the risk management of the Forex robot and the outcome will be a disaster.

(vi) Make sure your Forex Broker allows automated trading and scalping so you will not face any issues

(vii) Be sure about the quality of your internet connection or use a VPS hosting (even better)

(viii) Combine any automated software with the use of a Forex Trading Rebate Plan. Forex rebate plans work perfectly with automated strategies which execute many trades in a daily basis

Find popular Forex Rebate Plans at Forex-Rebates.com

Beware of Forex Robot Scams

Scams may be always avoided by conducting the due diligence method on any Forex firm. The US NFA and CFTC sites may be used for that purpose.

► National Futures Association (NFA) has a database of registered member firms

COMPARE FOREX EXPERT ADVISORS

Here are some of the most popular Expert Advisors for automated Forex Traders.

EXPERT ADVISOR

TRADING

DEVELOPER

FEATURES

COST AND LINKS

 EA BUILDER

DESIGN YOUR CUSTOM EAs

 

■ PLATFORMS:

MetaTrader4

MetaTrader5

TradeStation

■ MULTI-STRATEGY CREATOR

■ SHORT-TERM TO LONG-TERM HORIZON

 

-Team of Programmers and Traders

Create your own Expert Advisor

Free for creating indicators

Timeframe: Any chart

□ Full Money Management

□ Hundreds of Options and Tools

□ No Programming Skills Required

□ Develop EAs for trading Forex, Equities, Commodities, and ETFs

■ 97 USD (one-time)

■ Free for creating Indicators

» EA Builder Web Page

» Review the EA Builder

WALLSTREET FOREX ROBOT

 

■ PLATFORMS:

MetaTrader4

MetaTrader5

■ FOREX SCALPER

■ 4/5 DIGIT TRADING

 

-Developed by a team of programmers and traders

Specialized in Trading: EURUSD, GBPUSD, USDCAD, USDJPY, USDCHF, AUDUSD, NZDUSD

Timeframe: M15 Chart

□ Strong Money Protection Mechanism

□ License for Unlimited Demos and  3 Real Accounts

■ 299 USD

■ Free the Omega Indicator

» Wall-Street Forex Page

» Review the Robot

FOREX DIAMOND

 

■ PLATFORMS:

MetaTrader4

■ FOREX SCALPER

■ 4/5 DIGIT TRADING

-Developed by a team of programmers

Specialized in Trading: GBPUSD, EURUSD, USDCHF, USDJPY

Timeframe: M15 Chart

□ Tight Spread and Slippage Protection

□ License for Unlimited Demos and  1 Real Account

■ 279 USD

■ Free Updates

» Forex Diamond Web-Page

» Review the Robot

GPS FOREX ROBOT 

 

■ PLATFORMS:

MetaTrader4

MetaTrader5

■ FOREX SCALPER

 

Found on its second version (GPS 2)

-Developed by Mark Larsen

Specialized in Trading: EURUSD, EURGBP, USDCHF, GBPUSD

Timeframe: Asian Session

□ Implements an additional Reverse Strategy for Money Protection

□ Targeting 15-25 pips profits using wide stop-loss

■ 149 USD

»  GPS Robot Page

» Review the Robot

 

Trading Forex using Expert Advisors (Foreign Exchange Auto-Trade)

Forex-Rebates.com


 

 

REBATE PLANS: » Dukascopy Rebate | » HotForex Rebate | » XM Rebate | » FXCC Cashback | » HY Markets Rebate

LEARNING: » Forex Tutorial | » Technical Analysis | » Fundamentals | » News-Trading | » Regulators  | » Terminology

MORE: » Compare Forex Welcome Bonus  | » Compare Binary Option Bonus

Contact us today

100% free of charge. Start trading Forex and receive huge rebates for all your trades. -Contact email: Qexpert@yahoo.com

  • 100% Free for Traders / No Limits
  • Intraday Registrations / No Documentation
  • Combine any Rebate Plan with Deposit Bonus

Translate

Trading Forex like a Pro..

Trade Forex and earn daily rebates based on your trading volumes.

The clever way to trade Forex -100% free of any charge.

» Forex Rebates FAQ

Popular Forex Rebate Plans

Start from Here..

■ Earn $5.6-$6.4 per lot when trading with HotForex (Automatic Rebate)

» HotForex Rebate Info

» HotForex Platforms

» Trading Accounts

» Bonus & Promotions

Start from Here..

■ Earn a huge $6.0 / lot rebate when trading with XM (Manual Rebate)

» XM Review / Rebate

» XM Platforms

» XM Accounts

» XM Promotions

News Trading

Trade Forex and Get Back Trading Rebates based on your Trading Volumes..

» HotForex Rebate Info

» XM Rebate Info

» Dukascopy Rebate Info

» HY Markets Rebate Info

» FXCC Rebate Info

Take advantage of Welcome Bonus and Participate Contents, you can Combine them all with our Rebate Plans..

» Forex Welcome Bonus

» No-Deposit Forex Bonus

» Forex Real Contests | » Demo Contests

» Binary Options Bonus

» Trading Guide

Contact today Forex-Rebates and start Trading Forex like a Pro. Forex-Rebates.com is part of Qexpert.com Group..

» Home

» Forex-Rebates FAQ

» Terms of Use | » Privacy Policy

» Risk Warning

» Contact us

Go to top