If you a forex trading enthusiast, there is a good chance that you may have come across the EA forex robot as it is gaining widespread usage in the forex market. This new software has allowed forex traders to have more time on their plate as they can set the trading robot to trade on some pre-inputted features and strategies.
Passive trading has become the normal way to trade as the EA forex robot promises quick trading success as compared to the manual method of trading. Yes, you don’t have to stay fixated on your PC to trade anymore; you can delegate the hard work to a trusted AI and lean back and watch as it trades expertly.
This is yet another reason why EA robots are gaining tremendous usage. But let’s soft-pedal on the fact that they are used globally and consider why they are being used. Institutional traders often make use of bulky software and hardware, which they like to term as high-frequency trading.
This style of trading requires outrageous investments, both in hardware and software. Why should you bear towards this angle when you can seamlessly harness EA robots to trade profitably? Yes, the goal of every forex trader should be to make a profit, and this is crucially dependent on how you trade.
In reality, learning forex requires a copious amount of time and consistent effort. Plus, if you’re starting without any leverage or assistance whatsoever, you’re more likely to lose huge amounts of money. Consider this for a minute; you have to stay glued on the market fluctuations looking for loopholes and opportunities; you also have to enter and exit trades appropriately.
Now, this requires great effort and consistency, and in most cases, people tend to tap out due to the energy-sapping routine. But why should you subject yourself to such needless hassles when you can easily leverage a forex robot to handle the heavy duties?
Think of a forex robot as your avatar, except that it is more equipped to handle the trading process. The fun part of using a forex robot to trade is that you can preset it to abide by predetermined strategies. The robot will use these pre-inputted strategies to make trading decisions in your absence. With this, you don’t have to dwell on your PC as you can do other things like taking a nap or hanging out with your loved ones.
We’ve considered the benefits EA robots have to offer. But why are they gaining acceptance today? Most new traders see EA robots as a revolutionized way to shorten the forex-learning curve. If you’re yet to purchase the EA forex robot, here are some reasons you may want to consider –
Expert Advisors are intelligent enough to know when to spot an opportunity to make a profit in a market. They will not wait for you to manually place orders all the time; instead, they can enter a trade automatically, to help you take opportunities.
The fact that you are always busy with other activities means that you can easily be distracted and lose out when the opportunity to take profit presents itself. Sometimes, your unreliable internet connections could be your undoing. However, with EA, you don’t need to worry about your open trades as they can manage them professionally.
An Expert Advisor does not only analyze the market; it also advises you on what to do to succeed in your trade.
The EA also exit open trade when it is obvious you are going to lose much money should the market turn against you. They minimize your expected losses.
You may find it astounding to know that over 80% of traders trade with the EA forex robot. Now, this doesn’t mean that the forex robot is fail-proof. However, most global financial institutions use it to rake in steady profits. What does this tell you? This undoubtedly proves that it’s profitable; you have to stay positive while using it. Trading involves risks, but the EA forex robots reduce these risks to the barest minimum.
However, making money with the EA forex robot is hinged on the type of EA forex robot you purchase. Picking a reliable EA forex robot is where most traders get it wrong. Today, most EA robot providers use the “money-back guarantee” option to validate the viability of their EA forex robots.
Endeavour to understand that trading is a risky concept and a sudden change in market value can lead to a potential gain or loss. This goes further to tell you the repercussions you might encounter if you invest in a bad robot.
In reality, picking the best EA forex robot is somewhat dependent on your personality, trading goals, and other factors. If you desire to make a huge ROI on whatever you invest, then you need to consider the following:
The professional experience of the EA: One way to determine the efficacy of the best Expert Advisor is to find out how long it has been in business. If the software has been around for a pretty long time and still has a lot of new buyers or subscribers, then it is likely to be a good and reliable one.
The reputation of the Expert Advisor: While there are many EAs out there, with promises of giving the best trading experience ever, a lot hardly live up to their bidding. To ensure you do not waste your money buying worthless software, you need to find out about the reputation of the EA you intend to buy.
What ratings do they enjoy from their users? Are online reviews about them positive or negative? A great EA should have good testimonials from people who have bought and used them.
Recommendations from friends: Have your friends, or close acquittances used the services of the Expert Advisor and willing to recommend it to you? Most times, your friends are more sincere to you than some of the doctored reviews out there.
The amount they charge: Your reason for being in business to earn profits. Before buying any software, you need to be aware of the amount it would cost you. Ensure you are not paying any hidden charges in the future or immediately after activating the software. Consult with the sales department to discuss the price before going ahead to part with your hard-earned money.
Expected profit: You need to have an idea about the level of profit to expect while trading the software. Don’t just buy because others are buying; knowing the expected profit would enable you to plan the income.
The possible drawdowns: Everything that has advantages also has some drawdowns. Make sure you know how the EA performs under stress as well as it is level of volatility.
Take advantage of the trial version: Don’t wait for anybody to tell you how the software works. You should utilize the trial version to get a feel of how the EA works. If you are satisfied, you can then go ahead and purchase it.
Now, you know the different types of robots and how they function. The next step is purchasing a robot that aligns with your traits. To get started, you can –
We subjected our complete backtesting before offering it to the public. This is to ensure that we test it against the various platforms and market and be sure they are suitable and able to deliver on a promise before making it available for traders.