Many traders in their activities use assistants - robots. Trading robots (also called “experts” or “advisers”) are special programs designed for automated trading without the participation of a trader.
A few years ago, robots existed only for desktop systems. In the modern world, there is a transition to mobile technologies, accustomed to using robots in their computer, the trader is faced with the task of transferring work to a mobile android platform.
Next, we consider what opportunities for using forex robots for android are currently available?
I will try to give the answer to this question in the presented article.
Tasks of traders using forex robots for android
The appearance of forex - Brokers allowed to participate in the work of the markets not only to major players, but also to the smallest traders with small deposits. Small traders do not have expensive equipment to work with and often do not have enough time to sit at a home computer.
However, several tasks arise:
- The result of the work of the trader is an increase in the deposit, and for small traders this is small in absolute terms.
- Any trader experiences periods of losses during which it is undesirable, and sometimes impossible, to take profits from the account.
- For a trader who is still not confident in his abilities, it is necessary to have a source of income that is not related to trading.
- Separation from the computer leads to lack of mobility and speed of trading decisions.
These tasks are especially acute for beginners, who usually have a small deposit and little experience. In addition, most beginners have a primary place of work, and are not able to devote much time to trading.
The solution to these problems were forex robots for android.
The fact is that any trading strategy with clear rules can be programmed, thus creating a special trading program - advisor. Such an adviser - a robot will be able to work independently even on a smartphone, following the rules Strategy without the participation of a trader. The trader will only control the work with the help of a mobile android device. Having a smartphone, it becomes possible to work from anywhere in the world where there is Internet.
Let's see what options are available for such an activity.
Directly, the android platform is not designed to run trading robots. However, it provides enough tools to control such robots. First of all, we are talking about working with VPS.
VPS (Virtual Private Server) is a regular computer with an installed operating system that runs with the provider, is connected to the Internet, and to which the user has remote access. VPS works round-the-clock; the provider provides maintenance.
The user installs the desired trading terminal on the VPS. For the forex market, the leader is the MetaTrader terminal of the fourth or fifth version.
At the installed terminal, expert robots are launched, and they are controlled in the usual manner for the terminal.
A user with an Android device installs a special remote access program on it, after which he gains access to the desktop of the remote computer, and the ability to control the terminals and robots installed on the VPS, as from a regular computer. As a result, VPS with remote access turns into a forex robot for android.
Prices for VPS running Windows are now very affordable, and start at $ 5 per month. In this case, there is the possibility of several terminals at once for working on various accounts.
Configuring VPS and accessing it requires some specialized knowledge. Therefore, for many traders, it may be preferable to special hosting, already built into the MetaTrader terminal by developers.
In fact, MetaTrader’s built-in VPS is the same VPS as any other provider, but it’s integrated into the platform, it’s much easier to order, it’s designed to run robots, and this is done more quickly than in case of a separate VPS
Control over the work of robots can be carried out from any terminal, including the mobile android version. The developer’s site (MetaQuotes) has a large help section on how to work with advisers.
Working with advisors on the MetaTrader platform requires some special knowledge from the user. Not all users have the opportunity to study them.
For traders who would like to have a simpler solution, there are platforms with already installed and configured robots. The user needs to set only the most general parameters, and then it remains only to periodically monitor the course of trade using a mobile device and adjust trade operations if necessary. The robot will do the rest.
Daxrobot Trading Robot
The first of these programs that I would bring to your attention is the daxrobot trading robot, designed to work on Forex.
To use this robot, it is enough to register on the site from your android device, make only general settings (or leave them by default), and then monitor the ongoing trade.
Daxrobot has two modes - manual and automatic.
In automatic mode, all trading activities are immediately transferred to the broker for execution. As a result, the user does not need to be online. All transactions will be completed without his participation. It is enough for him only occasionally to monitor the operation of this forex robot with an android device. This mode is suitable for beginners who are just starting to get acquainted with trading.
In manual mode, the robot signals are only displayed in the user's personal account. This mode is preferable to traders who have some experience and their own ideas about when and which signals are more likely to make a profit. The user has the opportunity to either pass a signal to the broker for execution, or ignore it. The disadvantage of manual mode is the need to be online. However, this drawback is mitigated for mobile devices.
Trading robot Centobot
A principle similar to Daxrobot has the Centobot trading robot.
The difference of this robot is that it uses cryptocurrency trading in trading. Cryptocurrency quotes are experiencing large fluctuations, and therefore this robot potentially has a higher profit than Daxrobot, however, this robot has more risks.
Otherwise, the working principles of this robot are similar to Daxrobot, and the general scheme of work is the same for them.
Advantages and disadvantages
Using forex robots for android has the following advantages:
- The user does not need to have much experience. It is enough to have the most basic knowledge of the principles of work. This is especially noticeable when using ready-made trading robots.
- The robot acts on the VPS or on the developer's server, so the user does not need to install any additional applications on either the computer or the mobile device. It is enough just to have a stable Internet connection and a smartphone.
- The robot can work completely autonomously, freeing the user from routine actions. At the same time, the user still has the opportunity to make adjustments if necessary. Such a need, in particular, may arise at the time of the release of important economic news, which can very strongly affect exchange rates, increasing the potential profit of the trader.
- When working in manual mode, the signals are duplicated by sound. Thus, having an open personal account on a mobile device, the user will receive a notification about the arrival of a new signal and will not miss it. At the same time, experienced traders can independently decide whether to send a signal to the broker to execute, or ignore the signal as false.
- To use the robot does not require large investments. Robot for MetaTrader can be written by the user independently. The ready-made Daxrobot or Centobot robot is free, and the broker used allows you to open a very small deposit without risking large amounts.
Among the disadvantages of using robots are the following:
- To write robots on the MetaTrader platform, you need quite serious knowledge. Those who do not have the opportunity to learn, it is better to use ready-made robots.
- In manual mode, even on a mobile device, you must have your personal account open to receive signals.
- If the user already has an open account with a broker, with which ready-made robots do not work, then he will not be able to use automatic mode.
Each transaction changes the value of the current deposit. It is certainly good when the deposit grows. However, work in the market is associated with a large share of uncertainty, and therefore there are always unprofitable transactions in trading. Nevertheless, for the trader, it’s important not the result of a separate transaction, but the result of a certain, sufficiently large period. If during this period the decrease in the size of the deposit (drawdown) does not exceed a critical level, the work of the robot should be considered successful.
Usually, many traders tend to keep the deposit at the same level. In the case of profits, only profit is displayed so that the deposit does not decrease. In case of losses - withdrawal is not made until the deposit returns to its previous value.
The withdrawal is made through popular payment systems. Here, for example, the conclusion of my profit for two weeks of trading Daxrobot on a WebMoney wallet at the end of February 2020:
Forex trading robot on android is a good opportunity to invest free funds. Of course, like any other automated trading system, this is just a tool, the work of which must be monitored, and sometimes make changes to the settings. With the accumulation of experience, beginners have their own preferences regarding the most profitable financial instruments and indicators. In addition, the market is constantly changing, and the indicator that gave good signals over time starts to give a lot of false signals, and then, after a while, starts to give mostly profitable ones.
The task of a trader using a robot is precisely to skillfully manage this tool, which is not intended to replace a person at all, but to increase the efficiency of his activity.