Download MetaTrader 5

Forex Trading Robots

To add comments, please log in or register
Interested in MetaTrader 5 features? Learn more about them!
ramanda 2006.12.03 16:57 

Forex Trading Robots

Automated or automatic forex can be defined as the ability to trade forex with the use of a trading program or forex trading robot, without needing a human to physically trade a forex system. With forex, automated trading is an emerging field that began not that long ago.

There are 2 general categories of automated trading:

  • Automated trading through managed forex. Some, though not all, forex managed accounts are traded via automated forex. In either case, the trading is passive in that you don’t have to do it. But in the case of automated forex, the trading program or robot executes the trades of their trading system, rather than a human team.
  • When you program your own or someone else’s forex system into a program with programming and automatic trading abilities such as MetaTrader, or other trading program. Wealth Lab required programming skills (the programming language used is similar to Pascal), while other programs just emerging that will allow you to select parameters and test your system performance.

Advantages of automatic forex trading systems

What are the advantages of automated or automatic forex trading, whether it’s with a managed forex account using a trading robot, which is a much easier way as you do not have to design or program a system?

They are:

  • You do not have to physically trade the system.
  • Automated trading can take trades at anytime of the day or night. This is particularly important for systems where the performance is increased when taking a majority of trades in the system, which occurs in systems where trading opportunities occur at times when the person may be sleeping or otherwise cannot get to the computer. So being available for trading 24 hours a day, unlike a trader can, will the profitablility of these systems.
  • You can trade multiple systems, such as systems that rely on different types of indicators, or which trade shorter or longer time frames, in order to diversify risk, as well as to smoothen out your equity curve and reduce drawdown.
  • An automated system is unaffected by a trader’s psychology, which can sometime cause a system to be not traded properly. If your trader discretion causes you to improve performance, then that is fine, but if it causes a worse performance than if you traded the system mechanically, then this is an issue that is overcome by automated forex.
  • Enables the development of new systems that may be difficult for a human to trade, such as systems with a high frequency of trades using tick data. Designing a system is no longer be limited by how practical or easy it is for a person to trade it.

These benefits of automated forex of course is based on the fact that:

  • You have chosen a profitable forex system and has acceptable drawdown, as evidenced by historical performance.
  • The forex system is not just mechanical, but is fully programmable.
  • You are aware, with either active trading or automated trading, that you must monitor the performance to see that the system is still working as well as its past performance.

Hence, that's why it's mentioned that you'll have to use a automated forex provider including managed forex with MetaTrader for those inclined that way.

victor 2007.09.21 13:49  

so much interested to know how this work so that i can incurcate it into my trading system.

eze victor

borneo 2007.12.25 07:46  
i want to create EA and i created indicator forex. Can your all help me, how create EA by indicator. if you all have article or your strategy, can e-mail to yusufbrb@yahoo. com. Thanks
jane bush
jane bush 2008.08.13 09:26  

This is one of the interesting things I have came across in this year... nice post... thanks...

crm software development

<edited by moderator phi.nut : no advert allowed in forum> 

MarinaBracken 2009.11.24 09:45  
Content Removed

nedenolsun 2009.11.24 12:22  

content removed

Brian Dee - Random Trader
Brian Dee - Random Trader 2010.07.15 14:27  

This topic has become a magnet for off-topic and/or commercial SPAM

Lets keep this about MQL4 people :)


metafx 2011.03.14 10:57  

This topic has become a magnet for off-topic and/or commercial SPAM

Lets keep this about MQL4 people :)


You're right BarrowBoy, but MQL4 is as well about automating the trading or at least to give you a hand at trading.

I started the oldschool way and moved to use scripts and small tools, now I use more and more pre-coded tools (very open for it). It trades auto and I trade manually beside, just a bit more aggressive ;) a good mix I can say.

Michael Sparo
Michael Sparo 2011.04.05 05:11  

I really wanna know how accurate is it in trading system.


Binary Options Trading System

<edited by moderator phi.nut : no advert allowed in forum>

50151007 2013.12.11 05:45  

I cant seem to have my meta4 platform stay running as soon as I add the trading robot(removed the platform closes in about 2 seconds. Any idea why i'm having that problem?

Simon Gniadkowski
Simon Gniadkowski 2013.12.11 08:54  

I cant seem to have my meta4 platform stay running as soon as I add the trading robot(removed) the platform closes in about 2 seconds. Any idea why i'm having that problem?

Why did you dredge up this 6 year old thread to as such an Off Topic question ? please do not dredge up old threads unless you have a very good reason, you do not.

Thread start date - 2006.12.03
To add comments, please log in or register