If only it was that simple. The human dream that a Forex robot is able to do constant and systematic winning trades for us is still science fiction, a dream far from reality. Of course, there are countless software, scripts and programs that can give traders the edge in Forex trading operations, but we are still very far from being able to entrust all operations to trading robots. In this article we will see what is the reality with the Forex Expert Advisors currently available on the market, learning also to recognize the obvious trading scams and especially how to avoid the pitfalls generally typical of beginners thirsty for success.
We will analyse what traders can do with this type of artificial intelligence, as well as we will describe the offers generally related to the MetaTrader platform. If you have been offered a Forex Expert Advisor that is always able to make positive trades, in principle, you are being cheated.
But this does not necessarily mean that trading software cannot help you. A Forex Expert Advisor is a program that can read market data and open and close positions independently. A software that, at its highest level of independence, is able to do Forex trading for us, make technical analysis and decide how much and where to invest. It is immediately worth to clarify the misconception and the ingrained beliefs that traders can find a Forex EA able to trade autonomously and make systematic profits, to resume, is absolutely impossible.
On the other hand, it is true that institutional Forex trading is highly automated, but it is also true that investment banks, central banks and other such entities still hire very expensive professional traders for the bulk of their operations. This should give us a measure of the fact that despite billions of dollars of investment in research and development, we are still a long way from seeing computer trading programs taking over the markets. Still, concerning the small retail investor, it is possible to use or partially use programs and systems that can help and automate, at least in part, the Forex trading operations.
Therefore, we will look at the different types of Forex robots that are currently available to retail investors and that can be easily integrated with a trading account. MetaTrader Expert Advisors are scripts that can perform different functions, from the most basic analysis with the aid of technical indicators, up to real automatic trading that almost always follow the rules set by its user.
Expert Advisors are available exclusively on MetaTrader trading platforms MT4 and MT5 and therefore on Forex brokers that offer these specific platforms. Watch out particularly to claims of huge earnings, because the systems that are based on promises that are too good to be true, are systems that cannot in any way do or maintain, precisely, what they promise.
On the contrary, in most cases they are scams organized by criminal individuals whose only goal is to put their hands in your pocket and run away with the loot. The MQL market, home of the MetaTrader platforms, is perhaps the best place to buy a MetaTrader Forex EA, a custom-coded script that can, for the most part, conduct operations on its own.
The only way traders, looking for a Forex robot, have to evaluate the strength and reliability of the scripts and Forex EAs systems that are published and for sale on this platform, are the reviews and analysis of the coders themselves and users. Is it worth trusting the reviews? Not always. Regarding Forex robots and other EAs sold online, even when the website selling those items appearance might seem reliable, even when the people behind it might appear to be real experts, in reality, you might be dealing with a potentially very dangerous system, especially if the website selling such products makes claims of huge profits and sells it for 20 dollars.
Just 20 dollars? Just think for a moment. Why on earth would someone sell a product claiming a good winning rate, and promising to turn you into a millionaire for so little money? The Forex market is one of the most volatile and unpredictable financial markets to trade and be successful for retail investors, and in this market the analysis capabilities of Forex robots are still far below those of humans.
Not to mention the fact that traders would end up losing not only the money invested on the trading account, but also the money used to buy the robot. To sum up, there is no easy money and buying a Forex robot in the hope of making a breakthrough on the FX market is and will always be, extremely risky.
Forex robots cannot offer traders easy money, the working ones are not coded for this, they were created and coded to help traders in operations. There are situations where a software can work better than a human, like closing all pending orders on one currency pair or completely close all pending orders on the trading account.
If this were the case, the major investment banks would not hire top dollar traders and analysts who cost them millions of dollars every year. And if the best investment banks are not yet able to replace humans with advanced auto trading software, why should you trust someone selling a Forex robot promising hindsight trading and huge returns and sold for 50 dollars?
Copy trading enables retail investors in the financial markets to automatically copy to their trading account the open and managed positions by another selected trader. Copy trading could be and remains one of the valid alternatives to automated trading and Forex robots.
Although we admit that we are still far away from reliable automatic trading as possible, behind copy trading platforms there are flesh and blood, experienced traders trading as humans, and not robots, that retail investors can replicate with a single click. Plus, there are several safety mechanisms to ensure that the trades are real. Here is a checklist of what you should check before buying any forex software, eas and robots. There are many dubious forex trading systems on the internet but there is something worse than that, and that is the number of greedy traders in forex.
I think most traders are subconscious gamblers. While this is not entirely impossible, the most possible outcome is loss of money, losses upon losses. When I created the profit forex ea; I wanted a kind of stable results in terms of profits and low risks and I achieved it, but I discovered many traders do not want that so I had to create other software for this kind of traders. The reason why most traders lose money to forex eas is cos they are greedy, they want fast results, what about you?
There you have it; if you want an expert advisor with low risks; then I got you covered. Meanwhile, if you want something with fast results, I got that too, just know that the risks are higher. Oh, this might be why you are on this page, you want a forex bot that works, an expert advisor that delivers profits. And yes I am going to hand it over to you. I am a trader like you and I have been in this business since I have seen losses and profits and I know the pain and want of a typical forex trader, we all want profits.
Mind you forex is considered risky; I am not god I do not know the future; I have simply used experience and tech to create a robot that truly works. Download the Profit forex robot here. There you have it, a working and profitable forex robot, and the good news; there are many more that you would find as soon as I update my forex tools page. Forex dominant is a community of profitable forex traders. I created this platform to help new and existing forex traders find their way into forex. Nothing to hide, you are getting three videos and a PDF showing how this works and the strategies.
I can help you build any ea of your choice; just tell me your strategy and I will program that into an expert advisor. Head to the website menu and click on the robot creation link. There you have it; the new trend of trading is using an expert advisor. If you have any questions regarding an expert advisor or you have used an ea that failed woefully in the past; kindly share your experience in the comment section below.
Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Sign up to our newsletter! Additional menu. I am going to go over; What an expert advisor is, Why it is good to use an expert advisor, Do they work, and are they profitable? Do Expert Advisor Work?
Each expert advisor's category is visible on its description page along with a detailed explanation of this category. If you want to share your own expert advisor or if you want to comment on any Forex robot EA presented here, please visit our forum on MetaTrader expert advisors.
What Is Forex? Please disable AdBlock or whitelist EarnForex. Thank you! EarnForex Software. This will create a small delay in execution and also a short period when position exists without a stop-loss but, usually, both are negligible. ECN-incompatible — expert advisors from this group will most probably not work properly with market execution brokers. They do not have any special input parameters for enabling ECN mode. Measures persistence of price movements; trades against it.
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