Don’t Allow These Aspects Tackle Your EA Effectiveness

If you are into automated forex trading software, you have to choose between the one which just deliver a potential trade chance (AKA trading signals) and the one which require no human interference at all as it can analyzing and executing orders without help. You might already have identified the 2nd one as forex robot or EA; this one seems to have many users, so I’m going to focus on this one.

Aside from the forex robots that made by scam programmers who can only prove their usefulness in backtesting (unfortunately, most of the forex robots in the market ARE scam), there are a handful of genuine forex robots with real profitable trading system behind it. But having your hands in this robot does not mean that the search is finished and you may watch the cash rolling in; it is a mistake that have been made by many robot owner and they have paid dearly for that.

One fact that you need to realize is no matter how profitable the trading system driving your automated trading software (be it forex robot or trading signals), they require certain circumstances where they are able to run at their 100% capabilities and you as the owner have to give it for them. These are factors that tend to overlooked by forex robot owners:

1. Trusted Forex Broker

You can have the best forex robot in the world, but it means nothing if your broker tackle your trades. They can disconnect you from their platform, delete your trades, delay your orders, and so on. With hundreds of online forex broker out there, it is not surprising if some of them are scam brokerages.

The simplest way to identify a trustworthy broker is looking at their registration at the official financial authority like FSA or NFA; but even with that you can’t be 100% sure, thus be very careful. My top suggestion for online forex broker is AvaFX, I suggest you read more about them on AvaFX review .

2. VPS (Virtual Private Server) with Steady Connection

Unlike trading signals, forex robot is an automated trading software that need a place to host it. Usually, it is impossible to run your robot from home due to downtime and other connection issue; also, if your robot goes off when your PC is off, you’ve lost many potential profits opportunity.

This is where VPS comes in; fundamentally, you rent space in a server to host your forex robot so that it can operate 24/5. There are many companies that offer this service, so make sure you choose the one that doesn’t go down too often.

3. The Best Currency Pairs

You should’ve got this information from your robot’s manual, so make sure to set it only run in the currency pair that it has optimized for. Some forex robots creators said that their robots can conquer all currency pairs in forex market, but in reality, there should be a few currency pairs where the robot are most profitable; I suggest you keep it running only in these pairs.

In some cases, there are third party providers that offer enhanced settings for your forex robot, thus allow you to trade more aggressively or trades on different currency pairs. This can be worth to try, but make sure you test it first in a dummy or mini account.

You are able to use automated trading software to achieve constant profits from the foreign exchange market, however, you cannot charge blindly towards the first offer you met. Invest some time in testing several robots and when you finally acquire one, put attention to the 3 factors stated above to make sure your robot operate at its 100% capability. Read more about the top robot presently on a review of FAP Turbo or simply check my top recommendation in best performed forex robot .