Automated Forex Trading Systems and Forex Robots

 Automated Forex Trading Systems

The term Automated Forex Trading System refers to a software program that is capable of executing currency trades automatically without any human intervention

Usually the term Automated Forex Trading System describes a Forex Expert Advisor or else a Forex Robot but actually there are two categories of Automated Forex Trading Systems:

(1) Fully Automated Forex Trading Systems (Robotic Systems)

A software algorithm analyzes 24/5 the Forex market action and places orders automatically if some criteria are met. The trading control is handed 100% over to the software program.

(2) Signal-Based Trading (Copy-Trading)

The trading orders of some selected traders (called Experts) are copied and executed in other trading accounts. This is usually a subscription-based service.

What is a Forex Robot?

A Forex Robot or an Expert Advisor or a Forex EA is a piece of software that works as a fully Automated Forex Trading System executing trades on both sides of the market in a 24/5 basis. Most Forex Robot are designed to work via the leading Forex Platform, MetaTrader-4 or MT-4. But there are available Forex Robots for other Forex Platforms as well, for example, TradeStation, cTrader and JForex.

MetaTrader-4 Expert Advisors

The platform MetaTrader-4 is a free platform developed by MetaQuotes. More than 100 Forex Brokers worldwide offer currency trading via MT4 and that makes it very popular for Automated Forex Trading. There are 100s of Expert Advisors specially designed to run via MT4. MetaTrader-4 Forex Robots are programmed in MQL-4 MetaQuotes Language. Every MetaTrader platform includes a MQL editor (built-in MT4 programming language).

 

How Forex Robots Work?

A Forex Robot uses technical analysis in order to first generate trading signals and then to execute trades. Buy or Sell signals are formed via the use of mathematical algorithms that apply the past price historic behavior in today’s market conditions. Every placed order includes a Stop-Loss and a Take-Profit.

ADVANTAGES

Automated Forex Trading Systems are becoming popular among Forex traders as they don’t get tired and can eliminate the major weakness of every trader which is his own human emotions.

  • Trades the Forex Market 24/5 (day and night)
  • Never gets tired
  • Eliminates the Human Emotions (fear, greed etc.)
  • Analyzes many charts simultaneously
  • Easy-to-get customized and Easy-to-use afterwards
  • May work on a Demo Account for testing before used for real trading in a Live Account
  • Can be fully back-tested (testing historic performance) on MetaTrader-4 or other Forex Trading Platform

OTHER FEATURES

Automated Forex Trading Systems are designed to operate as fully independent systems without the need of any human intervention (except first-time customization). Here are some basic requirements (features) for any successful Automated Forex Trading System:

  • Built in money management system (stop-loss, take profit, trailing orders etc.)
  • Spread and Slippage Control (protects the trader from tricky market conditions)
  • Analyzes and Trades multiple Forex pairs on multiple TimeFrames
  • Distinguishes Trending Market Conditions from Ranging Market Conditions
  • Avoids trading before or after news releases
  • Highly Customizable but offering also Default Settings
  • Trades any Lot Size Account (micro, mini and standard)
  • May work on Demo Accounts as well as on Real Accounts

Use Forex Robots only on Dedicated Live Accounts and Never Mix Manual Trading with Automated Trading. Think also using a VPS Hosting Service, many Forex brokers offer it for free nowadays.

Compare Forex Robots

Here is information and links about four (4) popular Forex Robots.

EXPERT ADVISORS

BASIC INFO

TRADING PLATFORMS

ADVANCED FEATURES

PRICE

□ FAP TURBO 2

FAP TURBO 2

 

□ SCALPING 2 FOREX PAIRS

□ LONG-TERM

 

□ METATRADER-4

□ Scalps EUR/GBP and EUR/CHF

□ M15 Chart

□ Stealth Broker Mode

□ 1-Account License

□ 2-Monts Refund Period

» REVIEW

□ $149 (Lifetime Updates)

» VISIT FAPTURBO ROBOT WEB-PAGE

□ FOREX MEGADROID

FOREX MEGADROID

□ SCALPING ONLY EUR/USD

□ METATRADER-4

□ ZULUTRADE

□ Scalps EUR/USD

□ Stealth Broker Mode

□ 1-Account License

□ 2-Monts Refund Period

» REVIEW

□ $82

» VISIT FOREX MEGADROID WEB-PAGE

□ WALLSTREET FOREX

WALLSTREET FOREX

□ SCALPING 7 FOREX PAIRS

□ METATRADER-4

□ METATRADER-5

□ Scalps EUR/USD, GBP/USD, USD/JPY, USD/CAD, USD/CHF, NZD/USD, AUD/USD

□ High-Spread Control

□ 3-Account License

□ 2-Monts Refund Period

» REVIEW

□ $299 (Free Omega Indicator)

» VISIT FOREX WALLSTREET WEB-PAGE

□ GPS FOREX

GPS FOREX

□ SCALPING 4 FOREX PAIRS

□ METATRADER-4

□ METATRADER-5

□ Scalps EUR/USD, EUR/GBP, USD/CHF, GBP/USD during the Asian Session

□ 1-Account License

□ 2-Monts Refund Period

» REVIEW

□ €149

» VISIT GPS FOREX ROBOT WEB-PAGE

 

Automated Forex Trading Systems

ForexRobots.net


 

Review Forex Brokers: » XM STP | » DUKASCOPY ECN | » HOTFOREX STP | » ACFX STP

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