In the world of forex, trading robots, or what are often called EAs (expert advisors) are well known to traders. Although the majority of users still with the manual way, but not a few who like to use trading robots. Then what is a trading robot like? For those of you who are still lay, please read in the following chapters:
What Can Robot Trading do?
Open and close position.
Modifying a current position.
Change SL and TP of an ongoing trade.
Analyzing a pair based on indicators.
Send notifications in the form of sound, e-mail, or other forms.
Analyzes account financial management. Such as balance, margin, lot portion, etc.
Doing copy or mirror trading.
Why Use a Trading Robot?
Discipline follows signs and rules. Psychological factors that often mess up, can be avoided.
Reduce saturation to always monitor price movement charts.
Every time there is a trading opportunity can be utilized, considering that even when we sleep, the robot is still actively working.
Weakness of Trading Robot?
Robots are not able to anticipate all conditions, for example: in extreme market conditions, turbulent, unpredictable or unpredictable, robot algorithms may become irrelevant, and trading loses. Therefore sufficient supervision still needs to be done. Fundamental factors can damage the work of robots, it never hurts if there is indeed a schedule or a large event, the robot can be deactivated first. Conditions such as US elections, disasters, wars, etc., can be a price driver that is difficult to map.
Getting a Trading Robot?
It's not difficult to get a trading robot, just googling. And many robots are shared for free both on websites or in forex forums. Some are free and some are paid. Please be more careful with free ones, the author can share only for trials. Can be tried first on a demo account or for study material. As for the paid ones, they are generally sold at 100-250 $.
For those of you who have the ability in programming applications, maybe you can make your own. It's not difficult if you have basic programming, but still you have to have a trading system that is tested and systematic, worthy of being made a robot.
Choosing a Trading Robot?
This is indeed not easy, because it is closely related to how you want to treat the robot. Do you trust 100% with the system and do not intervene manually. Or rather like intervention. Do you like the style of short-term, or long-term. Are you patiently waiting for the robot to open position? Take the time to learn the trading system used by the robot first. This can help if you want to develop a robot, or what rules need to be used if you really want to intervene (semi-automatically). Compliance with the trading style will make the robot more likely to succeed.
In paid robots, manufacturers generally advise to believe in fully determined trading conditions. User intervention can actually cause chaos and defeat. Given paid, ordinary users can not clearly know the system used by the manufacturer. Program scripts are protected, users are only given brief instructions for parameters that can be set.
Building a Trading Robot Infrastructure?
Already mentioned a bit above, to be able to implement a trading robot system is not difficult and complicated. Also not expensive. What you need to prepare:
- First, of course you need a trading account, can be real or can demo.
- Second, a PC to install the MetaTrader application. Most serious traders generally use VPS to get better performance. VPS is an acronym for Virtual Private Server, just like a PC is also only a PC that is usually located abroad where an internet connection is expected to be faster and more stable. For the initial stage, enough with a PC at home who can be online 24 hours.
- Finally, an internet connection that is sought is fast and stable. Why? Robots need every signal to sell, buy, modify, so they can be quickly executed. It really depends on the trading style you want to apply in the robot. If the style is long term with a large target pips of course the delay of a few seconds / minute is not too significant. But on the contrary, if the style is a short-term scalper, a few seconds too late, the opportunity can be lost.
Before you decide to use a Trading Robot (Important !!)
Will the performance always be positive? There is no guarantee, all systems whether manual or robot must always be repaired. Factors such as broker selection, account type, internet speed, server location, etc. must be considered. Many cases use the same robot, but the results are different, this is due to a failure in duplicating conditions. Maybe the only slow internet speed, wide spread accounts, etc.
It is better to follow the directions given by the manufacturer. However the maker knows better inside and out of his creation robot system. Paid robots are generally ready to use, impatience and intervention will usually result in failure of the robot.
Choice Trading Robot
Below are some trading robots that we happen to be testing, and want to share. Robots are chosen that are paid, because we think paid robots are made more serious, professional, and more secure. We also avoid robots with complicated parameter settings, and as little as possible supervision.
Wall Street EA Robot
From the results of trials on the Real account, the EA Wall Street Robot is able to maintain a stable Win Rate in the range of 80% . An extraordinary performance that is very competitive compared to other trading robots. In just 5 months, the Wall Street EA Robot can generate 36% profit from capital without any intervention at all.
To gain profit, the robot uses a Scalping strategy with an average profit target of 10 to 15 pips per position, on major pairs that have tight spreads.
In addition, the Wall Street EA Robot is supported by the Spy Module Broker feature . With this feature, trading robots that are designed with this Scalping strategy are able to detect broker fraud such as spread spreads or slippages before a Market Order is executed. EA Wall Street can be obtained with prices starting at $ 287 for each Real account.
EA Real Profit Robot
This paid robot is quite popular, began to be marketed since 2013 until now (5 years). Robotic trading style is to use a combination of five scalping methods, as well as breakouts, to produce consistent profits. The price of this robot is $ 200 for 1 year, quite appropriate when viewed with its performance. Average monthly gain is 3-4% and is equipped with various features such as invisible mode, high impact news filter, simple money management, etc. Parameter settings are not complicated, and can work alone with minimal supervision.
TrialForex Team Test Results
Period: September 2016 - August 2018 (23 Months)
Broker: IC-Market, Real Account, ECN, VPS USA
Balance: $ 500 deposit, as of August 2018 = $ 2,313.45