Over the years Forex trading robots have flooded the market with mixed results. Of course there is always the good few that work but unfortunately the majority will eventually fail. In this article we are going to look at the possibilities with Trading robots, also known as expert advisors and find out if it is possible to have a Forex trading system that really works.
The Possibilities of Trading Systems Their Limitations
The coding of expert advisors is always advancing and there is now even software that can read news alerts and adapt that information into a trade. This new wave of programming is the forefront of using fundamental analysis in trading algorithms; there are issues with this that a fundamental trader could point out but that is a conversation for another article. The limitations of a trading system come down to the programmer. There are hundreds of indicators on the market that give direction to the markets and they will be correct a percentage of the time. The problem is making sure they are correct enough of the time to ensure an overall profit at the end of the week, month or year.
It is common place for a Forex robot to work for a period of time then go through bad patches that have the potential to eat up all your profit and even blow your account. Although these Expert Advisors are sold in good intention there is no way of knowing how to accurately predict the market and a trading system based on rules might not fit the market next year as it did the…
Source by Adam Woods
The beta version of the Metatrader 5 Strategy Tester (Metatester 5) was released a few months ago. It is a integral part of the new Metatrader 5 trading terminal and like in the old version of Metatrader it is used to optimize and test MQL5 expert advisors. Metatester 5 is the last component of MetaTrader 5 tools that is needed in the process of efficient development of MQL5 Expert Advisors. The new tester is still in development and the final version will be released end this year.
One of the new features of Metatester 5 is the possibility to use agents (individual calculation frameworks) to greatly increase the speed of trading strategies calculation and optimization. Each agent represent one logical cpu core, so for example, if you have a dual-core cpu, you will have 2 agents. The agents can also be installed on remote computers in a local network or on the Internet. A big advantage of this is that you can use endless cpu power like in the popular grid computing projects called Folding at Home or SETI at home. MetaQuotes, the company behind Metatrader 5, will also launch a commercial service where processor power of remote agents will be sold.
Another great feature of Metatester 5 is the forward optimization mode. Via this option you can modify the optimization results to eliminate testing on certain time periods. During the forward expert advisor optimization, the time period is divided into two parts – the main history period and the forward period. …
Source by Peter Miranon
The MetaTrader 4 software, often referred to as MT4, has plenty of options and novice users find themselves overwhelmed with the settings. If you've never traded with MetaTrader 4, it's basically a trading platform that opens up a window into the world of foreign exchange. While it's true that it takes some time to figure everything out, there are really only a few settings that you will need to know to trade.
One of the most useful features is the ability to add indicators, expert advisors and templates to your trading window in MetaTrader 4. This is extremely valuable because there are thousands of MT4 users, as well as trading professionals and companies who share their configurations for free Egypt a for a small payment.
Trading indicators help the user recognize price patterns and aid in live trading. There are thousands of different indicators out there. Indicators can produce buy and sell signals visible on the charts. Within MT4 there are many built-in indicators but users can also install custom indicators. These are very popular among traders as they often show much more information than the standard built-in ones. Indicators can also become parts of an Expert Advisor.
Expert Advisors are built to automate trading. So if you have an indicator that shows buy and sell signals, an expert advisor would execute the trades on the signals. In addition, Expert Advisors have rules that define each trading position according to specific trading strategy…
Source by Bart Kali
With increasing popularity, Forex Expert Advisors have become a must have for traders. There are two ways in which to trade the foreign exchange, the first is basically, but this has become an outdated and old school way with the creation of specialized robots and software like Forex Expert Advisors. Some Forex traders are diehard believers that the only right way to trade is to trade manually. Traders with this mind believe that by trading manually that this is the only way to learn every aspect of the vast foreign currency indications, dealings, and decisions. Although there is a vast amount of traders who are employing the aid of Forex expert advisors which may lead to the most probable Forex scenarios, price trends and much more with the least possibility for error.
Forex Expert Advisors are trading software that provide the user with automatic facilitation of Forex trading by dealing with the most frequent tasks of backend data testing, Forex data trend analysis, and also the provisions of trading signals and indicators that would suggest to the investor to go forth or hold the selling or buying of the given currency pair that is being traded. One of the most effective trading strategies has been founded by the use of Forex Expert Advisors. The use and integration of these advisors has worked perfectly within the parameters of MetaTrader 4. For individuals who are unaware, MetaTrader is the most commonly used trading platform for foreign exchange…
Source by Thomas Henley
The best expert advisors … your really do want that right? You should.
If you do not know what you're dealing with, finding the very best EAs of their kind is a difficult task, especially if they're all based on different platforms … like on a Mt4 Expert Advisor and then some other Forex EA is something else …… bah, simply, it just gets confusing …
So what makes the difference between all of the different EAs and what separates one Forex Expert Advisor from the rest? What separates the best from the rest? (oh my god it rhymes!)
Well as I already said, they can be based on different platforms for example, and the most popular as of now would be the MetaTrader 4. But also different things like what currency pairs they're working on, Egypt EUR / USD or whatever.
What do you actually choose then? The high end $ 10,000 expert advisor, or the cheaper one for $ 150? Is the expensive EA worth all the money, or does the cheaper one handle the job just as well? As you can see, there's a whole lot of questions people ask themselves when it comes to picking a good EA.
The simplest question of all then … "Which one do I pick?" – that seems to be the most common one, and it's a good one too.
Me and my team have done a whole lot of research and we've concluded that the Expert Advisors that are based on the Mt4 platform are the best ones … but after that it gets a bit tougher. However we believe we have got it nailed down this time, and finally, we…
Source by Michel Brockworth
Mexcel Trader by FxDialogue is a powerful Excel trading application that offers to construct effective trading strategies. It utilizes the calculation competence of MS Excel, with regards to real-time data, price history, proprietary operations and technical indicators. Therefore, users can need to only rely on MQL programming, and form such strategies that would challenge even Expert Advisors.
With proper trading tools, foreign exchange can indeed be a lucrative business, and the powerful and user-friendly spreadsheet, namely the Excel program integrates with the most popular trading systems, rendering effective trading. Currency trading, the largest financial market on the global arena, is also called foreign exchange trading. A distinct feature of this trade is that the same commodity, namely currency, is bought and sold with the differential amount being the profit or loss.
Metatrader 4 happens to be amongst the top trading platforms. Its uniqueness lies in the fact that, besides offering the standard functions of opening and closing trades, it houses a set of features to assist users in developing extremely effective trading strategies. The profits offered by the mind-boggling volume of
trade can effectively be tapped by online currency trading. By using the Expert Advisor feature, Metatrader allows trade automation, which plays a crucial role in
trading, and goes on round-the-clock.
However, a lot of programming is required to create expert advisors, as the…
Source by Vasko Alexi
Forex expert advisors are one of the most profitable trading techniques at the moment but you may be thinking how is it possible to make money without investing a single penny? Before I explain how that's possible (and how many people are making a fortune with it), let me explain what a Forex expert advisor is.
A Forex expert advisor is a service that provides Forex signals. Effectively a subscriber signs up to such a service in exchange for being alerted (essentially) immediately of any trades executed by the expert advisor. The logic being that if the EA is very profitable then other trader will want to copy its trade, and pay some money for the privilege.
signal providers will even go a step further. They will give you an expert advisor in a platform such as MetaTrader that receives the signals and places the trades on your behalf. So your trading is completely automated. You have to be very comfortable with someone else's signs trading with your money without any supervision supervision from your side, of course!
So how are you going to make $ 50,000 a month?
There's a couple of easy ways. The first one is to setup a signals service that feeds into Forex expert advisors. People will pay you a monthly subscription to receive your trade alerts. From a technical standpoint, it's quite simple too. All you have to do is a run a Forex expert advisor which feeds the signals to a signal distribution website (or server).
Subscription fees are…
by Alberto Pau
If there is one thing that created a huge stir in the
community, it would definitely have to be Forex Expert Advisors. You may be wondering if there are any
traders who are rich trading Forex Expert Advisors. My answer to that is "if they are, they are DEFINITELY in the minority."
I know Forex Expert Advisors sound like an excellent idea, but let's think about this logically. What is their main purpose? Basically, they are these trading robots which trade the market for you without any kind of human intervention. Does this sound crazy to anyone else? Letting a machine trade your hard earned money for you on autopilot ?? You may think that I'm exaggerating a bit.
Do not you think if becoming rich, letting your
expert adviser trade for you was that simple, there would be more people having success. After all, nobody would want to do the heavy lifting for themselves.
Do not get me wrong. I am as pumped up about technology as the next guy, but let's be a little realistic about it.
Another huge hiccup about EAs is the fact that you have to trust your broker. I do not know about you, but I have a very hard time trusting my broker when I'm the one pushing "buy" or "sell". With an EA, you have to trust your broker to accurately open and close trades off of a trading robot that you have no control over. That's a HUGE leap of faith.
Source by John Templeton
I know if you have been involved with
for even a little while, I am positive that you must have heard about the
expert advisors. Quite frankly, these trading robots are garnering a lot of hype. But a lot of people are wondering if you can make money with
Well, I'd recommend that you check out some of the threads in many popular
forums on the internet. I'm sure you'll find your answer there. I think you'll find hundreds, if not thousands of dead forum threads, where traders start demoing these expert advisors, and they can never reach long term profits.
Why do you think that's the case?
It's really quite simple. It has to do with the facts that the markets are just not programmable. Beyond that, why on earth would you let a robot do all the trading on your behalf? How about the fact that you can not trust most
I do not think I'm letting any secrets out when I say that many
brokers are known for their somewhat questionable practices. I think we've all experienced stop loss hunting on our accounts.
How can you possibly trust a broker to take trades from a robot? How can you know you are getting legitimate entry and exit positions.
Also, stop and think about how much news happens during a trading day. Can you truthfully expect a
expert advisor to be intuitive enough to be able to understand the news that comes out, much less to be able to trade it?
Source by John Templeton
According to the sellers who sell Forex Expert Advisors, you can simply follow their systems with no trading experience and if you do, you can make huge gains long term with no effort but is it really that easy to make money? Let's find out …
The first point you will notice with Forex Expert Advisors is the extraordinary profits they say they can make for you. The track records are better than the best fund managers in the world yet, you can get access to the track records for just a few hundred dollars!
It sounds like a great deal, an income for life, you do not have to make any effort and it costs less than a good night out but is it to good to true?
Of course it is!
If you look behind the hyped marketing copy, you will see there is no real verified long term track record, to back up the claims the vendor makes. All you get is a simulated back test or results presented by the vendor, with no independent audit.
Today, there are a huge number of people attracted to Forex trading because of the rise of online Forex trading brokers and low account minimums which anyone can afford. Traders flock to buy these get rich quick systems and it all ends with a loss of equity.
Let's be clear – 95% of Forex traders lose! If it was as easy as the Expert Advisor Vendors say to make money, far more traders would win and they do not. If you want to win at Forex trading, the best way is to take the old fashioned route, apply yourself and learn skills!
Sure you have…