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just wondering if the news are true..

Discussion in 'Beginners Bootcamp' started by kangkung, Jun 30, 2011.

  1. kangkung

    kangkung Recruit

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    i heard we can trade forex using bot/automatic system...
     
  2. Pharaoh

    Pharaoh Colonel

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    Yes. An Expert Advisor (EA) is an automatic forex trading robot.

    The advantage: It can trade 24x5.5 and doesn't miss trades while running to grab a snack or sleep.

    The disadvantage: It's only as smart as you can make it. It won't check to see what's happening if a pair it's trading goes wild due to some major incident (like the earthquake in Japan).

    Most EAs make insane claims to profitability. Check the FPA's performance tests, including the ones that aren't active any more, to see what percentage really can do well for any period of time.
     
  3. Romeo

    Romeo Sergeant

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    There are new automatic bots being released every week.
    The procedure is to choose one that you think it can produce profits for you and demo trade it for a couple of months before risking your money on it.
    You have to learn how to adjust the settings according to the developer instructions but also according to your experience, because the same bot can be profitable on one broker and not on another.
    It requires a lot of time, but it is better to lose time than to lose money;)
     
  4. Matt Miller

    Matt Miller Recruit

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    I use FapTurbo on MetaTrader4, it works fine, but as Pharoh explained, I can't run it some weeks if the market is getting too crazy because it'll start making bad trades, if the market is in a good stable environment I can count on it for about 10-15% a month though.
     

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