Sergey Golubev / Profilo

How to Choose the Best Forex Robot

With today’s fast paced trading options, choosing the best Forex robot has taken on a major role in Forex trading. The use of a Forex robot is basically one of the methods employed by a trader to buy or sell on the Forex spot market. It is often referred to as ‘autotrading.’ Although autotrading was originally used on the Chicago Mercantile Exchange as far back the 1970’s, it emerged big time with the advent of the internet in 1999. Today, most online brokerages offer Forex robots.

There continues to be a debate, however, as to which is a more beneficial manner for placing Forex trades—using autotrading or employing the service of a human trader. Obviously, an automated trading situation can accommodate more trades per market than any human can cope with. Additionally, with autotrading, trades are placed in real time and a trader can replicate these actions across several timeframes and on more than one market. What’s more, robots are not subject to the emotional ups and downs of human traders.

On the other hand, even the best Forex robot can be subject to scams and frauds. Traders do not always understand how the system works and this leaves them vulnerable to all sorts of broker rip-offs. It can lead not only to traders placing inappropriate trades but can result also in shrewd brokers closing up shop and absconding with clients’ funds. In addition, robots are not easy to set up and choices for customized trading strategies can be complicated for novice traders. If not fully understood, trading activity can go unmonitored and consequently lead to losses.

The Best Forex Robots

Choosing the best Forex robot is not always an easy task. There are hundreds of online brokers with each one touting to offer the best Forex robot software, the most outstanding platforms and the finest technical analysts. The most advantageous way to reach a decision is to speak to people who have used Forex robots for a while. Referrals from experienced traders go a long way in weeding out brokers who do not abide by industry regulation or who are not bona fide Forex brokers. Ongoing Forex traders are also privy to information concerning brokers who have not performed in the manner they promised or are rumored to have conducted business in an unacceptable manner. After all, the robot is only as good as the brokerage offering it.

Likewise, there are literally hundreds of Forex robots that are offered not by brokers, but by individual traders looking to make a quick buck. While some of them may be profitable, there’s a higher chance with these robots that losses may occur. Make sure to verify the robot’s success before registering, and if possible, see if the company is registered or regulated anywhere. If these things aren’t available but the Forex robot still seems interesting, try asking for references or seeing if the company offers reliable testimonials. Without some sort of validating feature, your service of interest may not actually be the best Forex robot available.

Price & Time: Gold Breaks 1400 So What Next?

XAU/USD overcame more important resistance last week. The latest key level to give way was the 6th square root progression of the year’s low in the 1385 area. The weekly close over this level is potentially important and is further evidence that a more significant uptrend is in the making. Looking further out, the June high near 1424 is the next resistance point of note ahead of the all-important 161.8% projection of the July advance in the 1440 area. We doubt the metal will be able to test this resistance without backfilling, however, as we see cyclical headwinds getting stronger around the second half of the week.
read more here http://www.dailyfx.com/forex/technical/article/forex_strategy_corner/2013/08/26/PT_Gold_breaks.html

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Are you trading the news events? are you news trader?
or Are you following forex/market analytics?
or Do you like market forecasting?

If yes so this thread www.mql5.com/en/forum/12423/page26 is for you. Follow this thread www.mql5.com/en/forum/12423/page26 for most reliable economic news description with press releases and with example of trades.

“Divergent” is hardly the word for it, with the Dow moving down -0.5% on the week and the NASDAQ Composite posting a +1.5% gain. The S&P somehow found the middle ground, +0.5%.

But what made this strange was the NASDAQ market leadership for the week in the face of Thursday’s three-hour “technical glitch” which put the exchange in the dark. The event, according to USA Today, “had the potential to spark panic and a dive in stock prices.” This obviously did not occur, but many market analysts and participants were critical of NASDAQ OMX head Robert Greifeld’s downplaying of the incident and lack of communication as the event unfolded.

Arthur Levitt, the former chairman of the Securities and Exchange Commission, told reporters, “The worst part of all of this is the lack of disclosure. The lack of transparency. This is inexcusable.” (The Guardian)

Greifeld’s most replayed sound bite: “I think where we have to get better is what I call defensive driving.” (CNBC)