Auto forex system trading – How to get monthly cashback form forex trading

Auto forex system trading is a way of making money on the forex markets by using Auto forex system trading systems. The most widely used trading platform in auto forex system trading is the Metatrader 4 trading platform. It has several advantages. For example, by using so called Expert Advisors you can trade forex automatically even when you sleep. Forex Megadroid, FAP Turbo and Forex Shocker is among the most popular Expert Advisors that you can use if you want to get into auto forex system trading.

Brokers make money on spreads and commissions. When your turnover is very large, your broker make a lot of money from your trading. Is there a way to get a discount or cashback on all this money your broker is making from your auto forex system trading?

Yes there is! Take a look at the following calculation example:

Assume that you open an account with FXCM which a very reputable MT4 Broker, which offers 0.6 pip discount per roundtrip lot traded. One pip equals about $10 on average if you trade EURUSD, EURCHF and EURGBP. Lets say that you deposit $2000 on the account. Our estimate is that you will turn over about 10-15 Lots per $1000 per month on your account when using FAPTurbo and Forex Megadroid. Assume that your turnover is 24 lots per month on your $2000 account. Your monthly cash rebate during the first month would then be: 0.6 x 10 x 24 = USD 144 Your annual ROI would then be (144×12/2000) about 86% per year. This is a very conservative figure since it does not take any compounding at all into regard and assumes zero growth from expert advisors. Assuming a monthly growth rate of 20% you could make $4500 per year from this program only in auto forex system trading. It is 100% free to sign up and your spreads or commission remains the same after joining this program so there is really no reason why not to join. It is simply just money waiting to be collected by you!

One of the major advantages with this service is that you get paid based on your trading volume, not the win rate of your trading. So even if you go break even on the actual trading results during a specific month, you will still be able to make a nice profit on your auto forex system trading when accounting for the monthly cash back that you can receive when signing up for the broker cashback program explained in this article. FXCM is not the only broker for forex auto trade that is connected to Cashback Forex. You can also claim a cashback from the following brokers: Alpari UK, Avafx, Dukascopy, Etoro, FXCBS, FXCM, FXDD, Fxopen, Fx Pro, GallantFX, Go Markets, Liteforex, Marketiva, Tadawul FX, X Forex

If you are in the field of auto forex system trading, sign up for this program today and start to take advantage of the cashback system and get some money back from the brokers. To learn more about this program and to sign up, please go to the link below.

Auto forex system trading cashback Program: http://www.forexcashback.info

Forex automated trading is a way of making money on the forex markets by using forex automated trading systems. The most widely used trading platform in forex automated trading is the Metatrader 4 trading platform. It has several advantages. For example, by using so called Expert Advisors you can trade forex automatically even when you sleep. Forex Megadroid, FAP Turbo and Forex Shocker is among the most popular Expert Advisors that you can use if you want to get into forex automated trading.

Brokers make money on spreads and commissions. When your turnover is very large, your broker make a lot of money from your trading. Is there a way to get a discount or cashback on all this money your broker is making from your trading?

Yes there is! Take a look at the following calculation example:

Assume that you open an account with FXCM which a very reputable MT4 Broker, which offers 0.6 pip discount per roundtrip lot traded. One pip equals about $10 on average if you trade EURUSD, EURCHF and EURGBP. Lets say that you deposit $2000 on the account. Our estimate is that you will turn over about 10-15 Lots per $1000 per month on your account when using FAPTurbo and Forex Megadroid. Assume that your turnover is 24 lots per month on your $2000 account. Your monthly cash rebate during the first month would then be: 0.6 x 10 x 24 = USD 144 Your annual ROI would then be (144×12/2000) about 86% per year. This is a very conservative figure since it does not take any compounding at all into regard and assumes zero growth from expert advisors. Assuming a monthly growth rate of 20% you could make $4500 per year from this program only in forex automated trading. It is 100% free to sign up and your spreads or commission remains the same after joining this program so there is really no reason why not to join. It is simply just money waiting to be collected by you!

One of the major advantages with this service is that you get paid based on your trading volume, not the win rate of your trading. So even if you go break even on the actual trading results during a specific month, you will still be able to make a nice profit on your forex automated trading when accounting for the monthly cash back that you can receive when signing up for the broker cashback program explained in this article. FXCM is not the only broker for forex automated trading that is connected to Cashback Forex. You can also claim a cashback from the following brokers: Alpari UK, Avafx, Dukascopy, Etoro, FXCBS, FXCM, FXDD, Fxopen, Fx Pro, GallantFX, Go Markets, Liteforex, Marketiva, Tadawul FX, X Forex

If you are in the field of forex automated trading, sign up for this program today and start to take advantage of the cashback system and get some money back from the brokers. To learn more about this program and to sign up, please go to the link below.

Forex Automated Trading Cashback Program: http://www.forexcashback.info

Forex auto trade is a way of making money on the forex markets by using Forex auto trade trading systems. The most widely used trading platform in forex auto trade is the Metatrader 4 trading platform. It has several advantages. For example, by using so called Expert Advisors you can trade forex automatically even when you sleep. Forex Megadroid, FAP Turbo and Forex Shocker is among the most popular Expert Advisors that you can use if you want to get into forex auto trade.

Brokers make money on spreads and commissions. When your turnover is very large, your broker make a lot of money from your trading. Is there a way to get a discount or cashback on all this money your broker is making from your trading?

Yes there is! Take a look at the following calculation example:

Assume that you open an account with FXCM which a very reputable MT4 Broker, which offers 0.6 pip discount per roundtrip lot traded. One pip equals about $10 on average if you trade EURUSD, EURCHF and EURGBP. Lets say that you deposit $2000 on the account. Our estimate is that you will turn over about 10-15 Lots per $1000 per month on your account when using FAPTurbo and Forex Megadroid. Assume that your turnover is 24 lots per month on your $2000 account. Your monthly cash rebate during the first month would then be: 0.6 x 10 x 24 = USD 144 Your annual ROI would then be (144×12/2000) about 86% per year. This is a very conservative figure since it does not take any compounding at all into regard and assumes zero growth from expert advisors. Assuming a monthly growth rate of 20% you could make $4500 per year from this program only in forex auto trade. It is 100% free to sign up and your spreads or commission remains the same after joining this program so there is really no reason why not to join. It is simply just money waiting to be collected by you!

One of the major advantages with this service is that you get paid based on your trading volume, not the win rate of your trading. So even if you go break even on the actual trading results during a specific month, you will still be able to make a nice profit on your forex auto trade when accounting for the monthly cash back that you can receive when signing up for the broker cashback program explained in this article. FXCM is not the only broker for forex auto trade that is connected to Cashback Forex. You can also claim a cashback from the following brokers: Alpari UK, Avafx, Dukascopy, Etoro, FXCBS, FXCM, FXDD, Fxopen, Fx Pro, GallantFX, Go Markets, Liteforex, Marketiva, Tadawul FX, X Forex

If you are in the field of forex auto trade, sign up for this program today and start to take advantage of the cashback system and get some money back from the brokers. To learn more about this program and to sign up, please go to the link below.

Forex auto trade cashback Program: http://www.forexcashback.info

How to choose a good forex siginal service and automated system is very important for people who cannot or don’t have the experience to trade themselves. Although there are tons of automated forex trading systems which claim to be succesful, chances are most of them are scams. I have tried several times for these so-called winners, and I have to say “thank God, I demoed it, instead of making it live.” However, even if you find a real good system, it does not mean it is suitable for your trading strategy. You could still blow up your account because of that. Let’s first look at the two main types of auto-systems: third party signal proviers and EAs on Metatrader 4.

Third-Party Signal Providers

Welcome to the world of monkeys. I cannot say most of them are scams, but definitely 90% of them are not as profitable as they claim. Just check the feedback on forexpeacearmy.com. So what they do is they build a website and post some stats and tell you how profitable they are. Don’t fall over their traps. I heard one trader said that the forex signals he got were losing trades, but the website either changed the entry prices afterwards to make it a winning trade, or simply don’t post them on web. I am not surprised if such things happen. It is totally not transparent. And some websites promise they win over 200 pips per month. Please, what is max drawdown? And honestly speaking 200 pips/month is defintely not a good performance for an experienced forex trader. You are overpaying them. You can make 200 pips per week yourself if you know how to do news trading. Enough said about the scams, let’s look at something better.

1. Zulutrade.com

It is a website that people can sign up as forex signal providers freely and send signals to the subscribers. The transactions are transparent, and they give a lot of stats like maximum drawdown, win ratio etc. And it is completely free. It is your broker who pays for the service. And of course your broker gets money from you in the beginning from spread and commissions. So if you are looking for a signal provider, I suggest you check this website and demo the signals that are suitable for you. However, there are some numerical traps you should be aware of:

-More winning pips do not mean it is profitable. What Zulutrade did is to multiply the pips by the position size. So for example, the provider finished a winning trade with 2 pips, but he traded 10 lots, so his winning pips was 20pips. But this is not a fair calculation. Because suppose some provider won 15 pips on 1 lot, then his winning pips was only 15 pips. The latter is definitely more profitable. So you really need to see the transaction history and check out the position size the signal provider is using. I see many followers for signals that trade big, but actully not so profitable. So be careful with this.

-”Many followers” do not really mean exactly the same number of people are running them live. Most of them are just testing them. Find the real number of people running them live on the “live followers” tab beside the graph.

-Maximum Drawdown of course is important. But big drawdown does not mean it is bad. For example swing trades usually have big drawdowns, but they can sometimes be more profitable than scalping. Scalping have smaller drawdown, but there is always a delay between you and the provider, the signal goes through a long process to you, even if is less than half a second, the price changes quickly. You will get a losing trade even if the signal provider gets a winning one. Again, demo it first!!

-Diversification: Some traders like to diversify and try to follow 3-5 signals at the same time. But the problem is his account is too small. So he limit the number of trade signals from each provider. However, this may seem a good strategy for scalping followers, because many scalpers like to open 10 positions on the same trade and close them at different times. But for swing trades, this is a bad idea. Swing traders keep losing trades because they know price will reverse. In the meantime they will open other trades that may be profitable. But if you limit the number of signals from the swing trader, you will not receive a winning signal afterwards, and instead end up with a losing trade. This is also why sometimes there is a huge difference between the performances of signal providers and the followers. Don’t be greedy, 3 is the max for a small account under 10,000 dollars.

-Manual Trading or Automated Trading? Some signal providers are real traders who do manual trading and send signals to you, some are people who possess a trading program like an EA. Both could be profitable or unprofitable. So I suggest you choose one for each type.

-Important: Get a broker that allows two-way hedging!! Now many US brokers under NFA regulations do not allow sell and buy the same pair at the same time anymore. So if you receive contradictory signals from two providers, one will cancel out the other.

-One last advice about Zulutrade: check out where the money flows, if a system has a lot of followers, there’s gotta be a reason for that.

2. Tradency Trading systems such as FXCM FSS and FXDD Auto-trade

You should check out their websites if you don’t know what they are. There are many brokers offer scuh service. You can check it out at here. Basically what they do is the same as zulutrade. But they don’t have as many signal providers. In the meantime, of course, it means that their signals have been filtered before they go live, so they should have better overall quality. This is one thing that it is better than Zulutrade.

A little Advertisement from me: My trading signals and the rebate program:)

I just started using both services and sending swing and news trading signals to both Zulutrade and Tradency. But they will not go live until mid Jan and Feb. So if you using one of these systems, you can check out my signals later in mid-January, and search for “swing pirate” on zulutrade.

Another piece of good news for those who don’t have Zulutrade accounts yet. If you are interested, you can sign up through my affiliate link. Zulutrade offers all affiliates 0.4 pips per trade for referral fee. I am willing to give you half of that money to you each month if you sign up through my website.

Finally it is my own blog http://sites.google.com/site/fxfountain, I updated daily strategy and real-time comments everday for free. I just started it, but it will gradually get better and better and feature more resources. Just come and check it out. You will also find into about the rebate program and my signal strategy update.

Back to the second automated trading system: Expert Advisors on MT4

Many people are using MT4, so for now EA (Expert Advisors) are the most popular programs sold on the internet. And for some people with big account, they sometimes get free API attached to their account. But since MT4 is more popular, let’s just focus on EA.

1. Where to buy an EA?

You can buy an EA from a lot of commercial websites. One of them that I know of is BJF Trading Group. They have a lot of EAs to choose from with different trading strategies. I only bought one EA from them, so I cannot make a generalization. But as far as my purchase is concerned, they have a pretty good service. They reply email fast and adjust the EA according your needs. And they occasionally offer discounts to buyers during holidays like now. And if you subscribe to their service, you will probably get additional discount. As to the EURGBP Scalping EA itself that I bought, it was OK last year. But time changes, and it is not profitable anymore.WHY? Last year, people thought EUR and GBP are similar, so the volality in this pair is not that high; but this year, the fundamental picture totally changed. So never think you do not need to do anything even if you bought a profitable EA. You could lose money next month.

I know there are some other websites that are selling EAs, but mostly they are individual programmer who claim they found a “gold rule blah blah” and post some statistics and testimonials. I never tried them,because some websites just looks like a downright scam. Just look for reviews from forexpeacearmy.com.

2. OK, I am seeing a lot of EAs.

Which one is for me? Never think that an expensive EA is a good one, but cheap EAs are usually bad ones. Most EAs are sold for hundreds of dollars. So I suggest you to buy an EA from a website that offers free adjustment after the purchse. Some websites are just selling them, they don’t offer technical support. This is important, because time changes, and the settings actually should be constantly adjusted, especially in such a volatile market.

The next is to consider what trading strategy you prefer. Some like swing trades, some like scalping. If you want to scalp 4-5 pips for each trade on an MT4 account, I suggest you forget it. Most brokers will do shady stuff to prevent you from making money. Either they increase the spreads, or delay your transaction until it becomes a losing trade. It happens a lot with MT4. What you see is not what you get.

The biggest question now is how much risk you can take and how much money you have. If you have a small account (below 2000 dollars), choosing a heavily trading system will blow up your account within a week. If you don’t like drawdown, you should choose systems that have small SL levels. And also think about diversification, whether that system trades on different pairs. Buy a portfolio of EAs if you have enough money and big account.

My advice for people who are looking to buy from BJF: better buy the EAs that are running live on the website owner’s own account. They offer account monitoring on both demo and live. But if the owner went live on a particular EA, it is more likely that this EA is more profitable.

Another important issue is whether this EA is too popular. If it is too popular and widespread, many others will send orders at the same time as you. If you happen to have slow internet speed and you are physically located farther from your broker’s server, you will get a worse entry. What happened with the EURGBP scalping EA is that, people rushed in to buy on low and sell on high, eventually you end up buying high and selling low. But if you are trading in the Euro and US sessions, such problems are minimized because the price action is mostly determined by the big banks and funds etc, not by the demand of the retail traders.

3. OK, I bought an EA, what now? Backtest on your demo of course. But bear in mind that the results are highly hypothetical. Sometimes your broker will intevene and keep you from making money. So backtest is not completely reliable. My suggestion is to run it on a demo account for at least a month. And then constantly monitor if it is profitble and if possible analyse why you got a losing trade. Did it happen often before? What fundamental picture changed? Was the price action weird? (Yah, some brokers manipulate prices to get your SL). Write to the seller immediately if you have questions. Try to find a forum where other people also bought the system, and discuss.

OK, I guess have concluded all you need to know if you are up for an automated trading system. Choosing a good system is no easier than trading yourself. In the stock market, it is more regulated, so you can buy some funds to trade for you. But the forex market is so underregulated that there are just simply too many scams. Be careful!

Starting forex trading career is an exciting journey. The mind-blowing financial challenges, economic riddles, potential sky rocking profits and psychological effects – all assembled together in one profession. As a new forex trader you need to recognize the universal mistakes which can easily turn your forex trading adventure into unnecessary, costly ride. What are the common mistakes traders make and how can you avoid making them?

Here is the summary of slip-ups every trader should avoid:

1. Risking Too Much There is no way of getting rich quick in forex trading. You have to be consistent and disciplined, and by no means try to compare forex to gambling. Every dollar you invest in forex must be a dollar you can afford to lose, a dollar which will not leave you butt naked on a street. Every successful forex trader protects ones capital, and therefore instead of risking too much and praying for it to turn into a goldmine, it is more important to focus on good entry techniques and understanding of trend.

2. Overtrading Most new traders think that in order to make huge profits you have to trade all the time. It is important to realize that forex market is volatile and changes direction all day long. You cannot expect profitable trades from every price movement. It is so easy to get addicted to winnings which can lead to sloppy trading. Depending on your trading style, the opportunity to profit strikes a few times a day and it is your job to figure out when it happens. After each win, give yourself a time out to ensure that you make right decisions based on your trading plan and not on the luring crave to win again! As soon as you learn to ignore all market swings, control your emotions and focus on profitable movements, you will become consistently profitable trader.

3. Errors in Order Entry There is a time in every forex trader’s life when the wrong order entry is made. Whether the clumsy fingers or lack or alertness are to blame, awkward errors happen to all of us. To save yourself a lot of stress, avoid heart attack and evade losing money, take two extra seconds to check that everything is correct before you click!

4. Not Having Your Own Trading Plan I believe that every trader is unique and requires different set of approaches when it comes to forex trading. Just because other traders succeed in scalping, for example, it doesn’t necessary mean that it is suitable for you. It is your responsibility to figure out what kind of trader you are. Are you a quick thinker or rather analytical? Are you aggressive or rather patient? Can you devote enough time to forex or you plan to trade part-time? What is your investment capital? Do you have a full grasp of fundamental analysis? What are your psychological weaknesses? The sooner you figure out who you are, the faster your trading plan will materialize and the better forex trader you will be.

5. Losing is The End of the World! There is no such thing as forex trading system that works 100% at a time. You can become crazy rich by being right only about 10% of a time. Kick the perfectionist out of your mind and open mind to a larger picture. The most important thing in forex trading is win/loss ratio. It doesn’t matter how many times you win or loose; what really matters is how much money you gain when you win and how much money you loose when you lose! Concentrate on monthly profits, and not on every single trade.

6. Ignoring Money Management Money management is very important in forex trading. The purpose of money management is to protect you from risking too much and therefore grow your profits in a stable, consistent manner. Without a proper money management technique, you can empty your trading account within 5-10 clumsy trades.

7. Ignoring Psychological Issues Psychology is a big part of forex trading. You have to train yourself to control your emotions, deal with losses and understand that success does not depend on every trade. Many traders keep a journal and write down not only the trading outcome, but their feelings and emotions during the trading hours. This can significantly help to analyze yourself and avoid, for example, overtrading, revenge trading, greed trading, ego trading etc.

8. Constructing Complicated Indicators Simplicity is the best way in forex trading. You don’t have to keep adding indicators or come up with extraordinary trading plan. Many indicators only add chaos and unnecessary information. Try not to overdo it; the basic idea behind indicators is to give hints to direction of a trend, support/resistance levels and buying/selling pressure.

9. Trading News Unfortunately, in most cases even the most straightforward news releases are used as a tool to affect the investment psychology of the crowd. This is, in a way, a manipulation used by governments and traders. Analyzing only the news can be quite problematic, since often a forex market that seems extremely bullish can actually be an undercover bear! It is close to impossible to predict how the market will react to the news. I personally have seen markets going down more than 100 pips in one second and rising 100 pips back up within couple of more seconds. That’s like playing a Russian roulette!

10. Using Too Much Leverage The beauty of forex trading is the ability to use leverage or margin, however too much leverage can be extremely harmful. Having a small trading account and making big trades using leverage can turn into a complete disaster whenever the market moves against your positions by just a tiny swing.

11. Demo Trading The Amount You Don’t Have Most forex brokers offer demo account for practice. My personal advice is to trade demo account with the amount of money you actually plan to invest. Usually practice account comes with hundreds thousands of dollars, so in order to actually learn how to trade and understand the forex market reality, it is important to demo trade the amount of your actual capital. It doesn’t make much sense to practice trading with thousands while you plan to invest $500.

12. Switching Strategies Like Pair of Gloves You shouldn’t jump from one strategy to another the moment you experience couple of losses. Your forex strategy should not be discarded the moment things get rocky. Every strategy need time to be optimized. Changing strategy from one to another will not turn you into successful trader. Give it time, consider losses as a down payment for the future wins.

13. Seeking Shortcuts to Learning about Forex There is no shortcut – you have to learn. Most successful forex traders know exactly what is happening in forex market. You have to read, learn, practice and analyze all the time in order to be up to date and make profits. Forex trading is a lifelong learning career. Since forex market is complex and very flexible, a lot of learning is needed in order to adobt to new changes and become a skilled trader.

14. Ignoring Stop Loss Ignoring stop loss is a no-no! You need to have a clear entry/exit plan. Decide now many pips you want to make, what is your loss limit, what are the reasons for entering a trade in the first place. Sometimes you have a feeling that if you want a little more your luck will turn around. No, this is a very bad idea. Stick to your plan and always set stop/loss targets. There is no such thing as a “trade of a life time”. If you miss one, there Is always a set of new trades right around the corner!

15. Deciding on Forex Broker Too Quickly Choosing the right broker takes time – so get ready for a long ride. There are hundreds online forex brokers today and all of them are attractive in one way or another. It is important to figure out which broker is most suitable for you. A broker good for one trader might not be the best choice for the other. There are many factors to consider, including:

¨ Trading Platform (download, online, metatrader 4, user-friendly, graphical etc.) ¨ Regulation (regulated brokers are usually more reliable) ¨ Features (news, daily analysis, mobile trading, free seminars, bonuses etc) ¨ Technical and Customer Support (it is important to have all the contact information for the broker including phone number, online support and email address. I also suggest testing all of the contact methods before making a deposit with the broker – Do forex broker representatives answer the phones? How fast does the broker respond to emails? Is online support proficient and professional?) ¨ Terms and Conditions (always go over terms and conditions you agree to with a forex broker. You might find nasty hidden costs involved or certain unprofitable trading conditions) ¨ Spreads or fixed price (the lower the better, of course!) ¨ Free Practice Account for practice and get to know the trading platform ¨ Minimum Deposit Requirements (How much are you planning to invest?) ¨ (Payment Methods (how are you planning to deposit/withdraw? Wiretransfer? Credit Card? Paypal? Moneybookers?)

This article is designed to help the beginer starting out in Automated forex trading,by giving some general information and understanding of the forex market,and an insight into the use of Forex EA robots.
EAs which are short for Expert Advisors, are basically a software programme that will do all your trading for you while you sit back and watch the profits come rolling in.Once set up there are very simple to understand and control,all you need is some basic knowledge of how they work.
EAs work by trading currencies on the foreign currency exchange which is the biggest money market in the world, worth around 3 trillion dollars, and it can be a good source of income if you have the right robot and settings. Yes i know currency trading can be risky, but with forex EA robots you decide and control how much of a risk you want to take. Low risk settings will not make you a millionaire, but will give you a steady percentage growth on your investment, alot better than you will get in any high street bank. High risk settings will either make you or break you, your choice.
Before you can do any trading you will need a trading broker, a broker will handle all your trading orders,and all your trading orders will be placed by your forex EA robot.Most trading brokers are quiet simillar, only difference being that they offer different types of accounts.Most brokers will let you trade on a demo account with no risk to your capital,this is most advisible as it will give you the experience you need before you trade live with your own capital.For those who wish to trade only with a small amount of capital look for a broker that will let you trade on a micro or mini account,this is best if you only have less than 500 USD. Some brokers will let you trade with as little as 100 dollars on a micro account.They is no charge to you for using the broker, the brokers make they money by other means.
One thing to note is that a recent change in the NFA rules means that if you trade by hedging,then you will need to trade with a non-US broker.
Choosing a forex ea robot is probably going to be the hardest part of setting up your automated trading. At present the internet is swamped with them and all promising to make you vast amounts of money.You will need to do some research to find out which are genuine, which are scams, and which ones are just a money making rackets for the programme developers.Most will charge about 70 to 200 USD,but there are some free forex ea robots about if you know where to look. Follow my links on this site and they will lead you to genuine websites that will guide you on the best performing robots, the scams, and the waste of time robots.Be sure to get an automated EA robot, some systems are not robots but work by giving you signals of when you should trade manually.
Once you have your trading broker for your forex ea robot the next step is to download your trading platform, this will generally be available to download from your brokers website. Your robot will need to be loaded onto your trading platform for it to function.This is where your robot will place and cancel all your trading orders, almost within seconds, or if you wish trades can be ordered manually by you.The most used and available trading platform is the metatrader MT4 platform that can be downloaded for free and is the most popular trading platform for almost all trading brokers.Some brokers do have they own trading platforms but will also have MT4 has an option.

An expert advisor is a piece of software which works as a plug-in for your trading platform. The purpose of an expert advisor is to automate your own (or someone else’s) trading system.
An expert advisor works by monitoring any market for you 24 hours a day, looking to place trades for you once it sees that certain parameters (based on your own, or someone else trading strategy) have been met.
To build your own expert advisor, you need to have a working knowledge of the MetaQuotes Language 4 (MQL4) which is the built-in language for programming trading strategies. There are companies which will (for a fee) automate your trading strategy and build an expert advisor for you based on your own settings. There are also companies which will sell you their own expert advisors.
Most forex expert advisors are developed for the Metatrader trading platform. Developed by Russian programmers, Metatrader had become the standard trading platform for many professional traders and forex brokers.
Once you have built your own expert advisor (usually a file ending in .EX4) or purchased someone else’s, the process of setting it up with Metatrader 4 is quite simple. It is just a matter of opening and installing the file into your MT4 platform.ADVANTAGES OF EXPERT ADVISORS:
The main advantages of trading with an expert advisor are:
1. The expert advisor has a plan. It sticks to this plan and the settings you have developed into it no matter how uncertain the market looks or how you may feel about the market at a particular point of time.
2. The expert advisor is consistent. It can eliminate the negative human aspects of trading which include fear, greed and inconsistency in trading.
3. The expert advisor frees you up from physically having to watch and analyse the charts to find a signal to enter/exit trades. It does this automatically for you so you don’t have to sit in front of your computer all day.
4. Freeing you up from watching charts for entry and exit signals also has the added benefit of giving you more time to spend on actually developing your trading strategies, doing back tests and more and more tests.
5. Finally, the expert advisor (or forex robot) can monitor many markets at once, giving you access to many more trading opportunities than you can physically find and analyse by yourself.DISADVANTAGES OF EXPERT ADVISORS:
1. The robot (expert advisor) does not and will never have the feel for the human and the soft non-programmable issues. The trader must always look at the bigger picture, the fundamentals as well as the hundreds of other important issues which affect the ebb and flow of the forex market.
2. Many traders also choose to use expert advisors for the wrong reason. They believe that simply by trading with a robot they will automatically have better results or be better traders. Essentially, all an expert advisor will help you with is with trading consistency. It will just free up your time to focus on developing and testing your trading strategies instead of physically having to look for and execute trading opportunities.

First of all, this is not about taking huge risks to get rich over night. The goal is to simply be able to run the robots on your computer 24 hours a day while you sit back and collect a modest profit. Because we human beings can not do this accurately and consistently, we recommend a Forex robot.If you have a computer sitting around, why not use it. Install MetaTrader 4 from your broker on it. This machine you will use to run your trading activity around the clock without interruption.You may even want to consider purchasing a UPS ( uninterrupted power supply ) for the machine that you want to trade on. That way, if there is a interruption in power, your machine stays on through it and keeps trading. Be sure to hook the modem and router to the UPS as well.If you don’t have a computer, there are services that will host a virtual machine for you. We will talk about that at another time and another place.Install your favorite expert advisor software. If you trade on the MetaTrader 4 platform, make sure that your expert advisor supports the MetaTrader 4 platform.Once all is good and all systems are working, try your expert advisors out using a demo account. This in effect will help you to develop a strategy for how you use your Forex Robot. The programmer gives you the manual, but there are other things that you may discover that may actually increase the results of your trades.If it is extra money that you want, never give up your quest in finding more. You can indeed make money with a Forex robot. You can also loose money with a Forex robot if you are not careful. While having all of the automatic trading going on, monitor it to make sure that all is up and working correctly. Run the reports and keep track of all of your profit and loss.

One question that you may have is a common question that gets asked on a regular basis “Can I trade with a Forex Robot?” The answer to that very common question, is that yes, you can trade with a Forex robot. However, upon answering that question, your next question is bound to be “How can I trade with a Forex robot?” Fortunately, this article will provide you with all the information that you need to know about trading with a Forex robot.

Getting Started and Entering the Forex Market

It is possible for you to trade with a robot. With this question being answered, the next question is obviously going to be “How do I do it?” Here is a step by step guide that lays out the steps that you need to take in order to trade with a robot in the market.

?First of all, you will need to set up and construct an automated online trading method.

?-In order to do this you will need to take a few steps:

?-You will need a Virtual private server that is designated for automated trading.

?-A broker provider that offers Forex metatrader.

?-Make sure that the Forex metatrader offers support for mini or micro lots of trading.

?-You will need a Forex metatrader expert advisor.

These are the things that you will need in order to start trading in the market with robots. The most important thing to remember when doing this is to not get in to the market game too much. You can designate your level of “too much”, but when you do this, make sure your level of too much is not “in over your head.”

You will need a stable internet connection that offers an internet connection on a regular basis. But, you can set this up to the standards that suit you and that fit you the best. A DSL or cable internet connection is required. You will need high speed internet services in order to do this. You will also need to make sure that your computer has a windows operating system.

The last thing that you need to know is that it is very crucial to your funds and your success to select a virtual private server provider that is credible, reliable, and reputable. This is one of the most important parts of this set up. If this part is flawed, then you could suffer some serious consequences.

Now that we have the Internet, Forex isn’t just for a few big investors as it used to be. The Internet changed it all, even Forex trading. All is done online now, using software platforms…Automated trading software, like Expert Advisors or Forex robots are software, able to work non-stop placing your trades for you or alerting you on good ones.Expert Advisor is applied to robots built on the Metatrader 4 platform, which is the most popular way of writing automated trading software, most Forex software you’ll see online is for MT4 platform since many brokers have their client software platforms on Metatrader 4. By using platforms like Metatrader 4 a technician can create a robot without having to build everything from scratch with raw code. Traders who are technically minded can enjoy the challenge of automating their own profitable forex trading systems by building their own EA on the MT4 platform. Of course it’s easier to hire a programmer to have it done for you, but traders or companies developing automated trading software are usually  protective of their systems…What most successful traders would do is build their EA themselves without revealing the secret trading system to anybody else.So you see how most sophisticated trading software comes to life…Automation seems to be the name of the game. Brilliant minds instruct software to trade for you, automating almost completely all the regular tasks of a trader.Most investors want a Forex robot trading for them so they can focus on organization, optimization…drinking margaritas in their free time…Some robots adapt to market fluctuations, some won’t. Some place many trades but getting little profits in each while other FX robots would “be more patient” and wait for a better opportunity to trade and get better returns in just a few moves.First, try to focus on finding general information to have a bigger picture: the different types of trading software and how they work, whether or not other tools can be complement to a trading system, and so on. Only once you have a clearer general picture will you start focusing in particular details…Like everything in life, having a clear picture of what you’re after will make the selection process a lot easier and you’ll have the expected outcome: The best automated forex robot trading (making money!) for you!