A good forex robot is the key to profitable forex trading. From the article you will learn about the programs I use, learn how trading robots work, and you can register to immediately get your Forex assistant, links at the end of the text. Nowadays, automatic earnings in financial markets with the help of a forex bot are gaining popularity. Modern trading is significantly different from what it was 10-15 years ago.
Professional traders have long been using such advisers in their work in the terminal Metatrader 4 and 5. Beginners are also not far behind and are actively exploring this area. Indeed, independent trading implies the presence of skills and extensive experience in market analysis. But this requires years of practice and training. But what if you already want to start making profit from trading right now? The answer is simple - you can transfer part of this work to a special computer program - the Forex robot.
The trading advisor algorithm contains all the necessary knowledge and skills in identifying the exact moment to open a transaction. Computer program completely eliminates the risk of errors due to the human factor, inattention, fatigue and all that is inherent in man.
What are robots on the forex website
Another significant advantage is the lack of emotion in trading robots. It is no secret that this is becoming one of the most common mistakes for beginners. And sometimes even experienced traders. Excitement, fear, greed, excitement, adrenaline, euphoria - all this has a negative impact on trade, with the result that the trader makes the wrong decisions regarding the transaction.
Using a trading robot completely eliminates the emotional component. Decisions on opening a transaction are made only on the basis of the trading plan, which is incorporated in the computer program and the algorithm of the robot.
What are robots on a forex website? These are special trading systems that work in automatic or semi-automatic mode. The first implies not only a full-fledged market analysis and identification of signals for opening a deal, but also the independent opening of orders with all the necessary parameters (stop loss, take profit, leverage, and so on).
It is not for nothing that such programs have become especially popular among beginners. They do not have sufficient knowledge to successfully trade and analyze the market. And the robot has it all in the algorithm. Therefore, the need to study this complex science completely and partially disappears.
Traders often use trading advisors to generate passive income. Even the pros who trade manually periodically launch such programs. For example, for night trading, when the trader is resting. This allows you to squeeze the maximum out of trading.
What are trade advisors for?
There are many trading systems and strategies for both Forex trading and CFD contracts. And since all this can be converted into a computer program, the number of trading advisors is equally proportional to the number of ready strategies. Even if you already have a ready-made profitable strategy in hand, it can be computerized in the form of a Forex robot that will perform the work of the trader.
First of all, their main task is to unload the trader and take on the task partially or completely.
It is the absence of emotions that is the main advantage of such programs. Because of its nature, it is human nature to make mistakes. Even great geniuses were wrong.
Well, the robot is not peculiar to it. He never gets tired, can work around the clock. And he will never deviate from his algorithm, he will strictly follow the instructions, the trading plan. The trader can give in to the excitement and start trading outside of his strategy. Which is another common mistake and the reason for draining deposits.
You can create a trading advisor at your own discretion and desire. You can make a fully automatic program. And it is possible and such, which simply will signal about the intersection of two moving averages with different periods.
There are robots with a complex algorithm that includes not only a combination of numerous indicators, but also automatically setting stop loss and take profit orders. And there are also narrow profile simple ones that will simply determine the current trend in the market.
Unlike a person, such a program will make a deal only at the moment when absolutely all the conditions specified in the algorithm are met.
Varieties of Forex robots
Currently, in the era of prosperity of automated trading, there are a huge number of trading programs. But all of them can be divided into four large groups:
- indicator-free (candlestick patterns, graphical analysis figures);
- with the use of indicators.
In addition to market analysis, automatic ones can enter into transactions without the participation of a trader, while semi-automatic ones only give signals. And the trader himself decides whether to conclude a deal or not.
There is another classification depending on the types of strategies:
- trend - search for trends in the short, medium and long term;
- Oscillatory - often used in addition to the trend ones, since they successfully determine reversal points and corrections;
- multicurrency - several trading assets can be analyzed simultaneously;
- scalping - advisers for short-term trading;
- combined - use from two or more tactics and types of advisors;
- martingale - the basis of the rate system of such trading robots is the principle of doubling the rate in case of loss.
Experienced pros recommend using highly specialized robots, even if there are several. Do not use the one that cram everything. Because of this, the quality of its signals may suffer.
Setting up trading robots in MT4 and MT5
Since the lion’s share of trading advisors was created for the Metatrader 4 trading terminal, we’ll first talk about the features of such programs. For beginners, this causes difficulties at first, since the terminal is really difficult to master. In addition, to create your own adviser, you must have knowledge of the MQL programming language.
But there are other more advanced Forex robots - Abi and Autocrypto bot. But more on that later.
In addition to the standard setting, complex installation, as well as optimization and mandatory testing of the downloaded robot in the MT4 terminal, you need to be able to understand the following parameters in order to correctly configure the robot to work:
- lots - lot size (from 0,01) within which the adviser will open a deal;
- minlots - the minimum allowable lot volume;
- maxlots - maximum;
- level of acceptable risk;
- maxorders - the maximum number of orders that can be opened by the robot. After reaching this amount, the robot stops working;
- money management;
- stop loss;
- take profit
This is a basic set of parameters. But there are some robots that include more detailed and complex settings. And if the developer has not provided detailed instructions, then the beginner simply will not be able to trade. And if you configure it incorrectly, the robot will trade at a loss.
The advantages of forex robots
Automatic trading has a lot of advantages. It is necessary to highlight the main and most significant of them:
- Reducing the psychological and emotional load of the trader. This is the most common mistake for beginners, which is guaranteed to lead to deposits plums. The robot shifts part of the responsibilities to itself, thereby reducing the risk of an incorrect prediction.
- Since the basis of the trading advisors algorithm is already based on all the necessary parameters of market analysis, the trader eliminates the need for independent study of this complex science.
- More free time appears, because the robot does almost all the work for the trader.
The only negative is the impossibility of fundamental analysis. This disadvantage is inherent in all robots without exception. Therefore, it is best for beginners to simply turn off the program during the release of important news. This can be tracked using the Economic Calendar.
There are both paid robots and free ones. Many newbies naively believe that if you pay money, they are guaranteed to get a profitable system. This is not true! Unfortunately, in this area a large number of scammers who profit from the naivety of inexperienced traders have divorced. And sell for money substandard goods.
Believe me, you can find free quality robots. It is not necessary to pay money for them. And now it will be about them.
Robot for automatic earnings Abi
Abi's robot has been popular for three years already. And now the number of active customers around the world is approaching a round number in 100 000! This is a completely free robot that allows you to make changes to the algorithm. You yourself control the work and expose those parameters that are pleasing to you personally, and not to the developers.
You can turn on Autotrade mode, or you can simply receive signals online.
To get started, you need to register on the site Binrobot lady, select one of the brokers in the list, make a deposit and enable Autotrading.
The robot trades according to the trading indicators that the trader indicates:
For its three years, the program has earned itself an impeccable reputation and positive feedback from traders who have long received passive income with the help of this program, which was able to bring automatic trading to a new level!
Autocrypto-Bot automatic earnings robot
2017 year was a breakthrough in the cryptocurrency industry. Bitcoin grew by leaps and bounds, many people began to look for ways to make money on these new trading tools. Autocrypto bot created specifically for earnings on cryptocurrency. It takes into account all the features of this new sphere, is able not only to independently analyze the market, but also to conclude transactions instead of the trader.
Cryptocurrencies are now the most profitable and promising direction in Forex and CFD contracts. And all because in a short period of time they are able to overcome a large number of points. And the final profit of the transaction directly depends on this. Robot Autocrypto bot successfully copes with this task!
Automated Trading is a real breakthrough and forex future. It allows even beginners without experience and basic knowledge to receive additional income. Forex robots not only save you time and nerves, but also bring a large income!