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The best trading robot doesn't exist and there is a valid reason for saying that. I actually program trading robots and I do so whenever I get a strategy. Robots are good if you indeed have a plan and a strategy and you can also code. The only reason why a lot of people complain about robots is the same reason why it wouldn't work for them.
First off, it is an established fact that 96% retail traders lose all their money. Just know that at least 50% of them also decided to dabble into the MT4 market looking for profitable robots. They do not care about the strategy behind the robots and truth be told a lot of the robots will not indicate or define their strategy. When some do and you find out that the strategy is garbage. So, anyone who picks up a robot without knowing the strategy it was designed to follow will definitely lose his money and then blame the EA.
Secondly, money management. A lot of people are fooled by highly optimised back test results that they just buy the robot and assign standard lots on their small accounts with no regard for money management. Again, they quickly lose money due to inevitable drawdowns.
Thirdly, combine the lack of knowledge about the EA's (robot) strategy be it good or bad and lack of money management then ask me what you'll get? You're right. Loses.
So, the best you can do is study and practise on a demo or cents account a strategy to determine whether it's profitable or not. If it is profitable, you can then go ahead and create a robot following the rules of the strategy. I am sure when you do that and then backtest it, you will have clearer understanding of EAs (robots) and how effective or how potentially destructive they can be if you don't know what you're doing in the first place.
Downloading and setting SL and TP doesn't make a robot. The strategy is everything. You are better coding a robot or getting a professional programmer code the EA (robot) for you based on your own strategy. There is no better robot than a robot that trades your strategy. I hope that answers your question.
What else can I help you with?
Where do you trade euros for us currency?
Depends. If you want to trade for cash, going to a Bank or to the nearest cambio/forex counter would be ideal. if you want to engage in forex trading for profits, then you would have to open account with a forex broker and trade with them.
How can one trade Forex online?
Forex is not a stock which may be traded. Forex is a stock trading site like Ameritrade. Forex offers individuals the ability to trade stocks using their online tools. The only place to use Forex or to trade with Forex is on the Forex website.
Can you trade forex on a blackberry 8900?
Depends if the forex broker offers a smart phone application.
What does the Forex Funds trade world wide?
Forex Funds trade different currencies world wide in the international stock market. Forex Funds is pretty much a financial manager for one world wide.
What type of commodities can I trade online with Forex?
You can trade anything that has some kind of value on Forex. You can trade gold and silver or you can trade stocks and bonds. They are more of a high end trading company on the internet. Forex is designed for trading the various financial markets around the wolrd.You can trade the dollar,or the euro,or several other currencies.
When were the first Forex trade online services first available outside the US?
The first Forex trade online services that were first available outside the US were the Forex Capital Markets, Fxall and Currenex. Forex trading helps individual and companies to trade around the world using their countries money which is then exchange into the currency of the country they are doing business with.
What are some Forex trade signal providers?
Signal providers include instant forex signal, daily forex, evosignals, and trade signals. Now, even major banking institutions are getting involved. Citi now offers this service.
Can you trade forex without any money?
Yes, you can trade. But you can't earn in this case
Impact of Information Technology on forex trade?
Impact of information technology on forex trade is immense. In fact in today's world,transfer of money via SWIFT is made from one country to other by the twinkling of the eye, by the blessings of information technology. Even any stoppage of service due to technical reason causes havoc in forex trade and its impact is unimaginable. Without information technology, forex trade is no where to exist.
Where can I find trade commodities forex?
To find trade commodities forex go to www.forex.com a website dedicated to showing newcomers how to trade commodities. It is user friendly and easy to learn using their sample training program.
Which websites can assist with Forex trading in India?
Forex4you is one of the best forex trading platforms in India. A forex broker is a financial services firm that offers its clients the ability to trade foreign currencies. Through forex4you you can trade forex in India through a regulated, local forex broker.
What Is The Automatic Forex Trading?
Automatic Forex Trading involves the use of Forex software to automatically trade stocks. This allows for profit without exerting any actual effort.
