Choosing The Best Forex Robot | What To Look For

What to look for when finding the best forex robot. In our vast and often long search to find the almighty "holy grail" one has a lot of options. I believe there really is no "holy grail" and there never will be one. Instead the holy grail is a robot that we as traders are very comfortable trading with. You see we do not really want too many bid surprises when we trade forex or any other instrument for that matter.

Below I have published a video to aid those just starting on their task of finding the EA that suits them well. These points are imperative to look for on your quest.

Remember to always look for an account which is trading real money. Also it is a good idea to contact the vendor via email. this will allow you to witness the responsiveness of the vendor and their professionalism(or lack of).

FX Pig Managed Account | FTS - EGB

The Fx Pig Managed account named "FTS - EGB" is a strategy offered to clients of the Fx Pig Broker.
At time of writing it is the 3rd most viewed automated system on the MyFxbook third party publishing site. This strategy trades the Eur/Gbp and is not offered to clients of the US.

The strategy has the best R:R ratio of all the strategies on the publisher. It is difficult to detect the type of strategy it is because all the trades are locked and private. I would suggest one that has a Fx Pig account to inquire about this! I wish I could trade it. Below is the screenshot of its performance since last Feb.

Note that the DD is only around 15.23% in about a year of trading. It is running at a clip of almost 10% monthly gain! It has not traded as of yet this year, probably due to the flat Euro as of late. It has a hit rate around 88% through 514 trades WOW!

I did some research on this managed account. As with all of these there is a commission charge for performance. It is 3.40USD per 100k traded as stated on the site. Below are some of the "features".

>Minimum Opening Deposit: $2,000 USD
>MAX 0.236 lots per trade per 1,000 USD of equity
>REDUCED COMMISSION FEE from November through February 2014
>Professionally Managed

Apparently they have over 15 years experience trading automated systems developed by their professional traders. I urge anyone that lives outside of the US to go and check this out.

Do Forex Robots Actually Work?

Do forex robots actually work? I am often asked this question. There is a common misconception when trading with a forex robot. Most people think they can just take a couple hundred dollars, buy a robot that "looks" good and wake up the next morning a millionaire! Actually nothing can be further than the truth. We must remember that a forex robot is designed to automate your trading style and risk appetite.

There is a strong learning curve when autotrading your account with EA's. It is important to understand that just because a robot has been trading good for the last few weeks, does not mean it will continue to do so. Many vendors of forex robots will not stand by their products to release updates based on changing market conditions. They are literally just trying to take your money and run! Do your homework on which expert advisor companies stand by their product and use them on their OWN trading account.

One of the primary reasons I created this blog is to inform my readers about the truly genuine vendors that do exist, so we can all feel more confident trading in forex. If you use the drop down menu on the right labeled "blog archive" you will find many posts designed to help you make informed decisions. You will quickly understand what it takes to succeed in this "business". So I ask you to stick around and let's profit together! ; )

The Best Forex EA For 2013 | And The Winner Is?

The best forex EA for 2013. Ok the votes are all in for the number on Forex robot in terms of performance for 2013. The winner received 41.6% of the votes for the top spot. This robot is also the top traded robot on Myfxbook as well. Let's look at the numbers shall we;

This particular robot had the following LIVE credentials for 2013. And as such was voted most "green" forex expert advisor with the most profitable trading accounts to date. The stats are as follows;

>51.33% net gain

>Draw down 25% Approx.

>Monthly return around 1.11% ( Not the greatest but don't forget all the volatility with US Govt. shutdown)

Below is the equity curve for the 2013 trading year for this EA;

Again not the prettiest curves but MANY robots failed miserably this past year, keep that in mind. And many of them were expensive EA's. The above chart is trading the default settings. There are many ways to trade this robot.

Drum roll please.....the number one Forex robot for 2013 was indeed the wallstreet forex robot the hands down winner for 2013.

How To Trade Automated Trading Robots More Efficiently

How to trade automated trading robots more efficiently. Good day all, today let us discuss what we should be considering when trading with a commercial expert advisor. So let's assume you have picked a forex robot to trade with because you like the trade history it has on REAL accounts. Now we really do want to achieve the same results if not better right? So if the commercial robot is trading on "broker X" then if at all possible we should be trading on "broker X". Why you ask? because the price feeds for brokers are similar but NOT the same. Thus our trading results WILL be different. Just because the market moved 50 pips in one direction with "broker X" does not mean the market moved 50 pips for "broker Y". Conversely I should add that if you find a broker with better spreads than "broker X" I would say go for it. Chances are good you will have at least the same performance if not probably better.

Other things we can do to ensure smooth robot operation is to consider what we are using for trading the robot. Are you using a VPS? because you probably should be. VPS clean operation can be increased with occasional restarts. I should also note that you should disable "automatic updates" of windows as this will auto download files and restart the VPS. Basically you want the minimal amount of files running on your VPS. The amount of MT4 terminals we are trading in relation to the amount of memory we have on the VPS is also crucial, check with your VPS provider for recommended terminals on the package you have.

We also need to stay current with the latest version supplied to us by the commercial robot vendors, many times there is good reason for releasing the newest version. Perhaps the market conditions have changed and the newest version is coded for these changes.

Keep these few things in mind when autotrading and reap the benefits! Happy Trading!

Wallstreet Robot AudUsd Pair Should I Trade It?

Wallstreet robot AudUsd pair should I trade it? Hello everyone, I am often asked if the AudUsd pair is a viable option to trade WSFR? The short answer is no, but some might want to consider it. Since trading it for about 1.5 years the pair has traded 152 times. The net gain in pips is only 84 pip, nothing to write home about. But on the short trades it has netted 327 pips. So when we dig a little deeper we can see that it does achieve good pips count on the short trades. All this short trade gain was achieved with only 88 trades on the short side. See Below;

WALLSTREET FOREX TRADING AUDUSD

There is some pretty hefty DD as seen by the equity curve, but some traders might not have a problem with this. If you want to trade this pair don't forget to the default SL I believe is 150 pips. You may want to experiment with a lower SL value closer to 120 pips(manually enter this in the SL field). What I do like about this pair as well as the GbpUsd pair, is the TP is high, so your R/R ratio is nicer. I believe the TP is around 70 pips. Also note that in the end of 2013 the short trade equity curve is starting to take off! yup the audusd pair has been sinking like a rock as of late. Happy Trading!

Wallstreet Fx Robot | What's Your Flavor?

Wallstreet Fx Robot. Hello all, today I want to discuss the 3 different ways to use Wallstreet Robot to trade successfully in the forex market. First we have the lower draw down settings or "eur33 and gbp30" settings. These settings are adjusted in the "use settings from" in the properties of the expert. This setting is best reserved for accounts which have a large amount of capital as the DD is lower and the return is lower. You can make a boatload of cash with this setting with a large start up capital. Let's look at its performance below to date.

Now let's look at the Wallstreet 1000 settings. This setting is basically the standard out of the box settings with the "recovery" set to true. This I believe is the best setting for someone trading with lower capital and a higher risk appetite. Just change recovery mode to true and let it go! Let's take a look at how this settings has been performing;

And finally we have the stock "out of the box" settings which are the default settings. This is the longest running setting that the robot has to offer. This setting is best suited for someone that has a medium risk appetite. We can view its performance below;

As you can see with either version we really can't go wrong with whatever setting you choose. determine your risk appetite and how much $$ you want to trade with and let her do her thing!

WALLSTREET FX ROBOT WEBPAGE TO LEARN MORE

BUY WALLSTREET FX ROBOT SINGLE LICENSE SAVE 20USD

Metatrader | Is This Still A Good Platform?

Hello everyone! today I will discuss the metatrader trading platform by Metaquotes. This platform has been around for quite some time now. It is still considered cutting edge I suppose, but I find it flawed in some areas, you can expect numerous updates. There is a strong community of traders that support the development of expert advisors, which is why so many traders will be using this for quite some time to come. The current version is 4 or MT4. There is a MT5 that has been in development for awhile now.

MetaTrader 4 combines an accessible, user-friendly interface with a wide range of powerful of functions, making it a highly flexible platform. It enables to easily and efficiently manage the set-up of traders' groups, financial instruments, databases, data feeders and many others. The Introducing Brokers (IB) service is also available. With MetaTrader 4, you can easily set up an efficient network of your company branches and manage it with a great deal of accuracy.

There are also numerous plug-ins and scripts to automate just about anything you wish. This I believe is one of the platforms strongest suits. Below is a flow chart on how the terminals are set-up.

You can also perform historical backtesting on MT4 dating back over 20 years. At time of writing though you cannot perform tickdata backtesting unless you import the data from a broker(which can be a tedious task), which is much more accurate than 90% modeling quality backtesting.

I really hope that development of the MT5 platform takes off soon, as I have heard it is less "buggy" and much quicker when performing tasks. Let's see how long the MT4 platform lives.

Hot Penny Stock Picks | How To Trade Them

Hot penny stock picks and how to trade them. Hi everyone, I am going to talk about something a little different today. I usually like to rant about a forex strategy but today I am going to tackle the "penny stock" arena.

So the claims are huge, "retire a multi-millionaire with 1000USD" that is what he tells us. Let's try to figure out if there is any truth to be had here. Penny stocks are very similar to trading any other stock like say coca-cola or disney, but the big difference is that penny stocks are "bought" at a much lower price because they are a new stock with lower market "worth". This enables someone with lower capital to buy into a company that is brand new to the market in hopes that the company will take off into the "stratosphere".  I remember when the company "Snapple" first entered the beverage market about 25 years ago. I would imagine that their stock was a penny stock back then. I have heard that many people made a killing when that company hit it big. But this is a good example of what a penny stock can offer an investor with lower capital.

With this being said now we know what a penny stock really is. This type of trading is called "speculative" because there really are no market indicators at the time of buying the stock. Thus we cannot really make an "educated" type of trade. If we "feel" the stock is a good one and will take off sometime in the near future, we thus will buy the trade as a "penny stock".

The penny stock egghead appears to be one of the better signals for when to buy an up and coming penny stock. Heck the webpage even has the companies address at the bottom (highly unusual but credible indeed).  the company will take your hand and walk you through the whole process of buying the stocks.

I personally have not tried to invest in penny stocks myself, but I am seriously considering joining this program to get my slice of the pie.

THE PENNY STOCK EGGHEAD STOCK PICKS

Fx Breakout EA | Best Forex Robot?

Hello everyone, today I would like to present a new EA from the team that brought us Forex Overdrive and Fx flash. This one is a breakout EA hence the name. So without further ado lets investigate shall we?

By definition a breakout EA will hunt the market for a "breakout" or when the price moves sharply in one direction and gains momentum. Many times this type of strategy will take many smaller loses in its attempt to "find" the breakout. This does not seem to be the case with this EA. When we look at the 99% tick data backtests for this EA we can see it has a high hit rate which is rare for this breed. (89% for the EURUSD and about 96% for the GBPUSD.) This is definitely a refreshing change indeed. Kudos to the team.

It is also pretty rare to present a 99% tick data backtest for a breakout system and I don't know why this is the case (maybe because most fail miserably at some point). There is a forward test but there is no link to verify the account. We are only provided with a pic.

Interestingly, when I looked on Myfxbook for the above account I could not find this account! only the users name was present. So at time of writing we have nothing to follow.

Here are some more of the highlights;

>Removes emotion from Forex Trading
>Generated insane Million Dollar Profits… 250 Dollars to 10.7 Million in 6 years!
>Utilizes a breakout Strategy… More Details below
>Works on both EURUSD and GBPUSD – Both versions are included for a single low price.
>Incredible Win Rate – 9 Wins to Each Loss
>Has Low Risk. NO Martingale – No longer will you see large account blowing loses.
>Has intelligent Money Management feature that allows you to adjust risk based on your own needs
>Has Excellent Support- Quick and detailed solutions to any problems that you may have.
>Has a very low price tag!

This one shows some promise but the lack of a real account to follow bothers me at this time. Hopefully we can see a live trading account soon to monitor its performance.

BREAKOUTEA

Forex Trendy | Options For Income - Great Tool

Forex trendy has many options for income. Hello everyone, today I will review a Forex tool and not a forex system or EA. This is a great tool for someone that likes to trade the markets manually. The name Forex Trendy actually describes the system quite well. The system will scan up to 34 charts all with different timeframes to find charts on pairs that are trending the best. This is a great tool! This will save the trader oodles of time looking for the best trade and timeframe to trade.

You can also use this with various expert advisors that trade the trend as well. Just fire up the tool and wait for favorable market conditions, then activate your robot and sleep well!

The system will also draw trendlines, wedges, triangles etc for you from which to trade from.

Live charts of emerging patterns and the history of completed patterns.

Forex Trendy uses sophisticated algorithm to consider which trend line or pattern looks better – with more touching points, etc. Many traders don't do this correctly! Chart pattern recognition is included in Forex Trendy for no extra fee!

In summary this is a great tool that does a lot of the hard work of trying to find the best trend for you. anytime we can free up precious time, this is a good thing! You can also set this up to send SMS signals and email alerts as well. Time to amp up your trading style!

CLICK HERE FOR ACCESS TO FOREX TRENDY!

Foreign Exchange Trading | What Are The Options?

Foreign exchange trading what are the options? Hi everyone, today I want to discuss what the options are for anyone interested in trading the currency market aka Forex market. If you are just starting out, one must ask themselves a few questions.

>How much time daily do I have to trade?
>What is my risk appetite like?
>Do I want to trade manually or let a "robot" trade for me (autotrade)?
>How much am I prepared to lose(because you will lose at some point)?

The last question ties into your risk appetite. Your risk will undoubtedly change based on your start-up capital. Let me provide an example. If you are starting to trade with 200USD you may want to increase your risk higher than normal because you are "only" trading with 200USD. But if you are trading with 200K USD, you can lower your risk to let's say 1 or 2% of you equity risked and still make a decent amount of money. Its all relative based on your capital. Easy enough right? Ofcourse there are more variables involved as well like your risk to reward ratio. For example, if you are trading with a Stop Loss of 50 pips and a Take Profit of 50 pips, then your RR ratio is 1:1. Over the short term this may be OK but to lower your risk I would say try to hit a RR of around 1:2. So you might set your Take Profit at 100 pips and your Stop Loss at 50 pips.

So if you decide you have enough time to babysit your trading account, then you will opt to manually trade your account. There is a lot of different ways to manually trade your account, which I will save for another post to keep this brief but, here is a simple, effective, and easy way to trade manually.

If you decide that you want to let a robot trade your account, then you will have a number of options. Many of the options will be poor ones, but if you look hard enough you will find the best options for your trading style. If you wish to see the best options for autotrading your account, well you are at the right spot. Let me offer you the best options here.

You see readers of this post will benefit from my "growing pain" trading the FX market. I am providing the best options for you here today. And I am not asking you to "subscribe" to anything like some other sites do.

In summary I would like to say welcome to trading the FX market. One can expect many challenges, but I hope this post has made life a little bit easier. Happy Trading and Happy New Year.