Is forex profiter the same as forex robots

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If a forex robot has a profit factor less than 1, eg profit factor of 0.7, this means that for every $1 you can expect $0.70 back (the forex robot is a losing one!). If a forex robot has a high profit factor, it is a good one – eg profit factor of 6.0 ($6 gained for every $1 risked).

Full
Answer

Are forex robots profitable?

Some forex robots can do well for a few weeks or months due to dangerous money management methods such as a wide stop loss and eventually blow the account. The higher the better, anything above 1 means that the forex robot is profitable.

What is forex Robotron?

Forex Robotron is another example of the success of Forex trading using a fully-automated trading robot. Trading with it shows high and predictable results. The monthly gain is more than 20%. At the same time, the robot requires deep knowledge and understanding of trading processes in order to achieve similar results.

What is a Forex robot or expert advisor?

Forex robots are also commonly known as Forex Expert Advisors or Forex EAs for short. This is because the majority of them run in the popular and free to download MetaTrader platform, which refers to automated trading systems as Forex Expert Advisors. Whilst there are many forex robots that you can purchase, some of them are better than others.

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What is forex robot?

A forex robot is a computer-based software that is set up with fx trading signals so as to know whether to buy or sell a currency pair. There are different types of robots but most are either semi-automated so that you can have the ability …


How do forex robots work?

They work by scanning numerous charts constantly throughout the day and may trade for you when they find setups in the case of the fully automated robots.


Why are robots important?

Due to the vast features installed in a robot to identify trading opportunities, robots are by nature able to process more data from the markets to produce more signals . A robot spends its time searching all around the market for trading opportunities without distractions. With more data, a trader is able to open more profitable trades.


What is the greatest weakness of forex traders?

The greatest weakness in traders is their ability to control their emotions. Every time a trade gets into profit most traders get too excited and if it’s a continuous stream of profits, one is even inclined to believe they’re forex masters.


Do robots work in choppy markets?

Besides, most robots don’t work in choppy markets so, during those times, a robot will just open positions left-right thinking they’re true setups. Let a robot identify the setups for you, it may even trade for you occasionally but always be up to date with what’s happening in the market.


Can a forex robot work on different currencies?

A forex robot can work on different currencies at the same time since that’s how it’s programmed to work, unlike a human where you can only focus on one trade at a time.


Is Forex robot risk free?

Forex robots are not risk-free. But if programmed correctly, they can be profitable. To be profitable using a robot, it’s good to begin by first purchasing one of high quality. Scour through the web filtering everything else and focus on only those with positive reviews of many people and professional traders.


Automated trading with a demo account

Trading is a risk, and the use of forex robots is another risk that can potentially bring you a certain amount of profit. But considering the fact that they are limiting and should be used as part of an existing trading strategy, isn’t it best to test out the software first? To see how it fits into your overall strategy?


Beware of online scams

Do your research, ignore providers who ‘guarantee’ perfect results with risk, and find reputable providers


What is robot trading?

It’s a computer program developed by devs and traders. It works on the proven patterns that allow you to make profit using robot owners’ trading experience.


How does automated trading affect robots?

With automated trading, a lot depends on how accurate and fast the robot is in making decisions. The EA must provide its owner with timely entry and exit points from transactions, which in turn should significantly increase the profitability of its work. The ability to enter a deal at the lowest point and exit it at the peak distinguishes a good robot from a bad one.


Why are robots developed?

Robots are usually developed based on some strategies that have already brought substantial profit to their owners. By applying them at the core of the robot, devs thus allow you to get your profit too. A feature of some robots is that developers maintain the availability of analysis of the history of trading operations so that traders can use this data to improve their own strategies.


What is Forex Fury?

Forex Fury. Forex Fury is an incredibly popular robot showing a stable and predictable profit. On the one hand, the robot allows you to make many settings to adjust the trading to the needs of the trader, but on the other hand, it requires not a little knowledge in order to effectively manage it.


How much does a robot cost?

Robots prices start from $99 to $25000 depends on futures and strategies. Most of the robots start to work well from a $1000 deposit


Does robot stop losing?

Yes, it does. Every robot is developed with the stop-loss system that allows you to lose not so much if it’s happened


Can a robot trade on multiple accounts?

A robot can run on many accounts, as well as, trade effectively many currency pairs at the same time. It can perform 24/7 giving you opportunities to spend your time whatever you want. Free-trial a robot for applying it on the demo account is also quite often option.


What is the difference between an EA and a forex robot?

There used to be a difference between an Expert Advisor (EA) and a Forex Robot where an EA identified trade signals, while a robot both identified and then placed trades without trader sign-off. Nowadays, forex software developers have blurred any distinction leading to both EAs and forex robots placing trades automatically.


How accurate is the Forex EA?

When looking for the best Forex EA, it is vital to consider the accuracy of the modeling employed in backtesting. A 99% accuracy compared to live currency market conditions is essential. It is achieved through sophisticated tick data tools such as Birt’s Tick Data Suite, which takes real tick data from forex broker sources of historically recorded prices on a tick by tick basis.


How to avoid drawdowns in forex?

Such a significant drawdown is avoided by employing a trading strategy with a well-thought-out risk/reward ratio – automat ed forex robots developed through backtesting historical data, including the past frequency of drawdowns. An automated forex strategy generates profits by reducing drawdowns through the accurate placement of stop-loss and take-profit levels with a consistent set of extensively backtested rules.


What is drawdown forex?

Drawdown is the decrease in the capital on a forex trading account and results from loss-making trades. For example, if on one forex trade, you lost 50% of your trading capital from $1,000 to $500, it will now require a 100% trading gain to get your balance back to $1,000.


What are the metrics of a robot?

Metrics such as profit, current balance and drawdown are all verified to create an overview to understand a robot’s performance quickly. The performance chart screenshot above from MyFXBook provides a snapshot of statistics pulled from MetaTrader 4 onto third-party software.


What is automated trading?

Automated trading enables forex traders to set and leave a Forex EA to trade continuously according to pre-programmed algorithms taking both emotion and fatigue out of forex trading. Trading results can be stunning when a well-configured EA is set up on a VPS to trade continually 24/5 to make money.


When backtesting any forex trading strategies, a set of specific parameters must be applied to a collection of answer?

When backtesting any forex trading strategies, a set of specific parameters must be applied to a collection of currency pairs’ historical price data, analyzing the results forms the base for the strategy by showing performance over a fixed period with the longer the period backtested, the better.


What is a forex robot?

Forex robot or forex Autobot or forex bot is a trading script that automates the trading decisions on the currency trading platforms. The Forex Robot is a computer-based program, and it is based on a set of Forex trading rules. It will help you to buy or sell the currency pair at any point in time.


Do forex trading robots really work?

Forex trading robots can be useful, but robots are not the “holy grail,” and they can not have high performance as you expect. In science research papers, the best robots can achieve 9%-12% gain per year with a drawdown of less than 8%.


What is an automated trading system?

An automated process rules this trading system. This is a program that allows the traders to set the rules for entering and exiting trades. In this system, the computer has to perform all the trading systems, and you will have to sit in front of the monitor to see the ups and downs.


How does the automated process work?

Step 1: the Trading idea
Either using experience or some basic idea or research paper, the quantitative traders test various ideas.
Step 2: Testing, backtesting, or machine learning


EA forex programming – Free EA course online

How to program your own forex robot? To build your own forex robot, you can use the MQL4 language in the Metatrader programming platform. The whole free course (4 hours) you can watch below:


The advantage and disadvantage of forex robot

Forex Robot is a Forex trading software. It can automate trading decisions. It is a very modern financial strategically system. There are so many companies making and selling Forex Robots. But you will have to follow the strict rules and do proper market research to avoid any kinds of scams and all. This is the only disadvantage of Forex Robots.


What is the profit factor of a forex robot?

Profit factor on the forex robot trading account statement. Profit factor is the gross profit / gross loss. E.g Profit of $6000 and a loss of $3000 would give a profit factor of 2.0. This means that for every $1 risked, you can expect a return of $2. If a forex robot has a profit factor less than 1, eg profit factor of 0.7, this means that for every $1 you can expect $0.70 back (the forex robot is a losing one!). If a forex robot has a high profit factor, it is a good one – eg profit factor of 6.0 ($6 gained for every $1 risked). You can click this table heading to rank the table of forex robots by the profit factor to see what are the best forex robots with the highest profit factor.


How does a forex robot work?

If the forex robot finds a trading signal based on its built-in algorithm, it can place a trade automatically for you. The forex robot can also manage the trade by placing a stop loss and take profit. Some forex robots will even have a trailing stop loss, break even and other money management features.


What is forex flex?

Forex Flex EA is another forex ea (expert advisor) that has stood the test of time. It also has a range of real live verified by Myfxbook accounts showing the ea’s performance over a sustained period of time. One of the unique features that separates the Flex EA from the rest is the fact it places virtual trades in order to analyse the markets behaviour until it finds an entry point to place an actual market entry trade. This feature along with the impressive 12 strategies implemented, ensures that the Forex Flex EA can adjust to varying market conditions. It also has a developer who is dedicated to keeping the software up to date and offers around the clock support.


How long does a forex robot last?

The longer the forex robot trading account has been running, the more reliable the results. Some forex robots can do well for a few weeks or months due to dangerous money management methods such as a wide stop loss and eventually blow the account.


What is the best forex robot?

Forex Robotron is by far one of the best forex robots that is commercially available. It has been running on multiple real live trading accounts that are verified by Myfxbook for many years now. In addition to the proven performance, it has 99% modelling quality back tests showing excellent historical performance over a 15+ year period on multiple currency pairs. All pairs used the same settings which emphasises the quality of the robot’s algorithm – it is not over optimized as a lot of forex robots are. The Robotron support is also excellent, with plenty of customer testimonials on the official Forex Robotron website showing many happy users.


How does Forex Auto Millions work?

Forex Auto Millions uses a unique combination of technical indicators and price action analysis to determine the trend and look to enter on pull backs in the trend direction. Interestingly. This particular Forex Robot trades short (sell) only. It looks to grab around 5 pips per trade with the historical performance over back testing data showing it had a high win rate. It is another MT4 Forex EA which has been developed primarily for the EURUSD currency pair. You can find out more about this expert advisor on the Forex Auto Millions website.


Why are some fields empty in a forex robot?

If any of the fields in the table are empty it is because those forex robot trading account statistics have been made private and therefore are not displayed within the table.


Is there fraud in forex?

There have been occasional cases of fraud in the forex market, such as that of Secure Investment, which disappeared with more than $1 billion of investor funds in 2014. 6  Market manipulation of forex rates has also been rampant and has involved some of the biggest players. In May 2015, for example, five major banks were fined nearly $6 billion for attempting to manipulate exchange rates between 2007 and 2013, bringing total fines levied on these five banks to nearly $9 billion. 7 


Can you trade stocks up or down?

Stocks, on the other hand, can easily trade up or down 20% or more in a single day. But the allure of forex trading lies in the huge leverage provided by forex brokerages, which can magnify gains (and losses).


Do forex traders keep their losses small?

Seasoned forex traders keep their losses small and offset these with sizable gains when their currency call proves to be correct. Most retail traders, however, do it the other way around, making small profits on a number of positions but then holding on to a losing trade for too long and incurring a substantial loss.


Can forex traders lose money?

Statistics show that most aspiring forex traders fail, and some even lose large amounts of money. Leverage is a double-edged sword, as it can lead to outsized profits but also substantial losses. Counterparty risks, platform malfunctions, and sudden bursts of volatility also pose challenges to would-be forex traders.


Can forex make you rich?

Forex trading may make you rich if you are a hedge fund with deep pockets or an unusually skilled currency trader. But for the average retail trader, rather than being an easy road to riches, forex trading can be a rocky highway to enormous losses and potential penury. But first, the stats.


Is forex an OTC market?

OTC Market. The forex market is an over-the-counter market that is not centralized and regulated like the stock or futures markets. This also means that forex trades are not guaranteed by any type of clearing organization, which can give rise to counterparty risk. 4 .


Does forex have an edge?

No Information Edge. The biggest forex trading banks have massive trading operations that are plugged into the currency world and have an information edge (for example, commercial forex flows and covert government intervention) that is not available to the retail trader.

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