Yep, there are some good robots out there, and a lot that are not so good. There are fully automated ones for investors and assistant type program that helps the trader but does not do everything for him.
So to point you in the right direction, let me ask you what it is that you would like to accomplish? More money, more freedom? What is your time frame? Why are you here? Answer that and you probably won't need anyone to point you in any direction but if you do, we'll be here for you. Just tell us how you answered those questions.
The MetaTrader4 trading terminal has several built-in expert advisors. They have the function of an independent trading system and dub the trading signals. They are very popular among beginners and were created specifically to demonstrate the abilities of programming the MetaTrader 4 Client Terminal. You can set various orders by price and time, automatically open the counter orders, etc.
Testing is very useful, since it helps to measure the ability and effectiveness of a mechanical trading system on historical data, estimating the chances of future earnings and errors. If you have tested the advisor, and know how it will behave in different market conditions, you can begin trading without needing to intervene.
Don't forget to read and check how Forex actually works, in case you are a newbie. You have to actually understand what's going on before trusting your money to any EAs. There are tons of videos, lessons etc. Open a demo account, try to trade yourself.
'I dont think ppl will sell EA if its highly profitable'
People are traders to make money, if they can sell a few of the very same robots that they use themselves, and use that money to fund accounts, that's just called intelligent. Is there some difference between the money that you make from trading, to the money that you make from working? I'm a capitalist, if you can make money, you do it.
One thing I wouldn't sell is junk. The inference is the only thing on the market is junk because people don't sell good system. That isn't reality. People who make robots are just as proud of their work as anyone would be. We're traders,, we need to start thinking logically, remember emotions are bad.
Hello friends , I used to think like that also before until i tried a few expensive software then my eyes became open to the reality about forex trading and how its should be traded.
COMMON MISTAKES MOST TRADERS MAKE IS , 3: 1 RISK TO REWARD RATIO , IT SHOULD BE 1: 3 RISK TO REWARD RATIO
RISK MANAGEMENT IS PHYSIOLOGICAL, BUT YOU ARE SCARED OF TAKING LOSSES AND CUTTING YOUR PROFITS EARLY.
PROPER RISK MANAGEMENT HELP YOU TO EARN MORE IN THE LONG RUN,BECAUSE IF YOU RISK LESS ,YOU WILL EARN MORE IN THE LONG RUN.
FOLLOW THIS SIMPLE RULE
DIAMOND FX STRATEGY
EQUITY : 1,000 USD RISK: 1% OF EQUITY (1,000) = 0.01 LOT RISK MANAGEMENT: TP / SL STRATEGY: LONG TERM STICK TO THIS CURRENCY PAIR: EUR/USD , GBP/USD , EUR/JPY , GBP/JPY , GBP/CHF , AUD/USD
Price consist of at least 80% Technical and 20% of Fundamental . So analysis on Technical will right only if you are able to analyse properly.
Determine the long term trend then trade in the direction of the trend, stay on it till you get maximum pips. (e.g We make as much as 300 pips because we hold on to trend but that might take 1 month in some cases. )
Look at 4hrs, Daily , Weekly price chart for analysis then enter on the Small time frame 15mins, 30mins ,1 hr.
The most common mistake of all is our Emotion and inability to follow rules.
I hope my contribution will help some of you who think Forex trading is not profitable.
Feel free to write me here or talk on skype and check out our account for the year, Its traded on a Multi terminal so you can plug your account to ours for a fee .
Femi Shitu. Diamond FX Group.
Building a profitable portfolio for our clients worldwide.
'Look at 4hrs, Daily , Weekly price chart for analysis then enter on the Small time frame 15mins, 30mins ,1 hr. '
Yes, yes, yes...the market will tell you which way it is trading...you just have to follow it!
Personally, I tend not to go lower than H4. If there appears to be a breakout taking shape here, take a look at the daily and weekly charts for confirmation. If D1 and W1 support H4 analysis, use a SR breakout in H4 to enter. Set SL below Resistance for buys, and above Support for sells. Forget about TP...just trail the SL until you are stopped out. 😎
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UPOZORNENIE NA VYSOKÉ RIZIKO: Obchodovanie s devízami prináša vysokú úroveň rizika, ktoré nemusí byť vhodné pre všetkých investorov.
Páka vytvára ďalšie riziká a straty. Než sa rozhodnete obchodovať s devízami, dôkladne zvážte svoje investičné ciele, úroveň skúseností a toleranciu voči riziku.
Môžete prísť o časť alebo všetky svoje počiatočné investície. Neinvestujte peniaze, ktoré si nemôžete dovoliť stratiť. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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