Topic: START FOREX TRADING USING ROBOT EXPERT ADVISOR
Authored by: Don Rags
Forex Trading often uses automatic trading using Forex robotics. It is basically an algorithm based on Forex trading signal for buying or selling currency pair. Forex trading robots are automated systems that Trade Currencies in the place of a human trader. They are programmed to generate returns due to application of mathematical rules which are decided by their creators. Therefore, the intelligence and skill of a forex robot is entirely dependant on its creator. The Forex robots run the pre-programmed routine under all circumstances; they don’t change, revise, or adapt it to changing conditions in the market, but will attempt to cut losses based on the instructions provided to by the programmer.If you use of Forex robots you do not need to know anything about Forex online trading or about online market but you only need to know about Robot Expert Advisor.
Why use robot in Forex trading?
Pushing a single button, the Forex robot runs continuously, making trades signaled by mathematical algorithms applied to past price history.It is best to actually learn how to trade consistently before you make the decision hence, let Forex Expert Advisor Robot do it for you for Trading Currency.
Comparison of Manual Trading and Robot Trading
The first advantage that jumps out to me about automated trading is simply the nature of having a robot trade. It is exact, perfectly disciplined, and doesn’t make mistakes (if programmed correctly, of course).
One of the biggest problems that a trader faces is his ability to be disciplined and stick to his plan. With automated trading, you can be assured that the robot will be completely disciplined and most note worthy stick the plan you set up.
Not only will a Forex Robot stick to the plan and be disciplined, but a robot will always execute correctly. A robot won’t take a buy when it should be taking a sell, it won’t enter the wrong lot size and it won’t misplace the s/l or t/p. This is a huge benefit in trading because mistakes like the ones mentioned are killers to your overall success. That’s another point for the automated trading.
Forex Robots can also take in more data than a human trader. That means, if your strategy applies to a whole bunch of different currency pairs, you can probably only monitor a few at a time. With an automated system, you just plug it into however many charts you want it to monitor and BAM, it won’t miss a signal.
Not only will the Robot trade with better discipline, better execution, and more range BUT ALSO, a robot doesn’t get tired. While you pick the few hours that work best for you, the trading robot will be plugging away at the markets 24 hours a day. That is 3 , 4 maybe 10 times as much as a manual trader trades the market… Yet another advantage point for Forex Robot trader.
The main thing that a human Forex trader has that a Forex Robot doesn’t is a brain. Where a robot can only execute decisions based on the scenarios that programmed into him, a human can take into account everything that is going on and process it together.
Humans can take into account fundamentals that are occurring unexpectedly (like a hurricane in Japan).
A human can see that the market is moving awkwardly slow or unreasonably erratic and pull out his trades.
Humans can decide when he has enough profit and when he thinks the momentum will continue in his favor.
A human can get a feel for the market–he can get “in the zone” but sometimes that does not happen as expected.
Human mind can do multi tasking but he can not calculate all the variables quickly as needed.
It is unable for human mind to manage all trades all the time.
A human mind can get fuzzy remembering all the things.
How to use Forex robot?
Suggested settings are below in this guide. You may use this suggested settings base on currency pairs or you can have your own profitable settings, as long as you understand how your settings works going to looks like in demo or live trading.
How to install Expert Advisor?
STEP-BY-STEP INSTRUCTIONS: INSTALLING AN EXPERT ADVISOR
1: Transferring files
2: Installing the EA on the MT4 platform
3: Adjusting the settings
4: Enable Auto trading Button
5: Key-in Crypted Key
Guide to set the Expert Advisor
is the Expert Advisor has a high built-in algorithm and more complex functions in terms of scalping or Hedging and Martingale base trading strategy. Choices will be belongs to your needs. It has build -in with margin management which controls you when human’s goes’ to greedy mode. The best function on this Forex Robot is when you are in profit trend; it doubles the execution to take advantage on the profitable trend. Most Robot’s in the Market are mainly good when the market is Ranging, But when the market is on continues up or continues down, most of them has difficulty and not able to survive. But this Robot was design for both Ranging and one sided trend while you can maximize your profit on one side trend.
It has Built-in Hedging to take care your Margin level and Martingale option to cover your losses. This Robot was tested on Live Real-Money Accounts before release. Ever since the first time it was attached to a real money chart, it has the benefits of multiple improvements and modifications that make it one of the best robots on the Forex market today.
This Forex Robot Is executing the trade base on highly accurate indicators that is pre-seated plug and play. Every trade has a plan B execution, whereby it will open trade to compensate your first open trade on the particular currency. This will be base on your settings on Distance position, distance multiplier and lot execution.
This EA-Robot is built-in with Hedging and Martingale strategy and margin Management.
Robot Settings based on Currency Pairs
This Suggested settings in this guide for your settings on the Forex Robot. You may use this suggested settings base on currency pairs or you can have your own profitable settings, as long as you understand how your settings works going to looks like in demo or live trading.
If the market is on favor profitable trade either reverse from losing market or straight profit trade, we use 3 features to increase further your profit.
Starting lot size = 0.01 lot size. Please check your account price per tick movement. Different broker has different pricing. Ex. 0.01 lot is equivalent to 0.10$cents per tick value. Some broker are 0.01 lot is equivalent to 0.01$cents.
- Trailing profit =$10. once the trade profiting $10, the robot will lock the profit and use trailing profit close = 2, to close the winning trade if the profit reverse back to $2. Trailing profit value able to adjust depends on your pips tick value. If you want easy to close profit, put it maybe 5$ or 10$.
- Distance open position (pips) (profit side) =30. (only for Turbo Robot function) If the trade keeps profiting and reach 30 pips, The Robot will open new lot trade which in using Lot Multiplier (profit side) = 1.0 or 1.2, this will increase your profit by increasing lot size slightly and the purpose of hedging back the another side trade which is on losing trade. adjustment: SL Value Start @Second Trade (Profit side) = 8 pips. This is Alternative way from using profit trailing as TP. It fixes your profit TP. You can leave it to =0 value if you want profit trailing will be as your locking profit.
- Close on total profit =100, If the total earning reach to $100, the series of trade on this particular currency pair will all close and open new series of trade.
How to choose Currency pairs
A currency pair is the quotation and pricing structure of the currencies traded in the forex market; the value of a currency is a rate and is determined by its comparison to another currency. The first listedcurrency of a currency pair is called the base currency, and the second currency is called the quote currency. You can find Currency pair tutorial below.
Live Video Trading in VPS
Whenever running Robot expert advisor on your forex Trading, it is always the best to run it on VPS (virtual private server). The reason why, its because you need fast and no interruption on your internet connection for the robot the perform well base on your settings.
Below video tutorials will show you on how robot works in VPS server.
Access to a live video server is necessary for fast, efficient and reliable trading. You need speed and continuous access for vital trading.You can also Find series of video training.
Test Profit Results
HERE'S WHY FOREX PIPS PLUS HELPS YOUR TRADING PROFITABLE
Visit FOREXPIPSPLUS now to get a free copy of Forex Robotics and see premium plan for your needs.You can get further detail on this blog. For any query visit FAQ page.