Forex automated trading platforms, otherwise referred to as EAs or simply ‘bots’, allow you to trade assets in a 100% passive nature. The main concept is that the trading platform will make forex trading robots decisions based on pre-programmed code. Happy Market Hours uses trend/scalping strategy and technical indicators. It works best on EURUSD, EURCHF or EURGBP, USDCAD or USDCHF charts.

Then, after setting your risk-management parameters, the platform will start trading on your behalf. GPS Forex Automated Trading Platform specializes in the most traded currency pair in the market – EUR/USD. The provider offers a fully-automated platform that comes in the shape of a downloadable software file. X Trend Premium is a product that draws on the deep knowledge of our team to do most of the hard work for us.

How to Choose the Best Automated Trading Software

Lack of flexibility — fixed position size, no trailing. The size of the previous candle is compared with the value of the minimum/maximum channel width. MA is below/above the minimum/maximum of the candle by MA_Otstup points. If both conditions are satisfied, a pending order is placed. Forex trading by building a grid of orders is high-risk, since immediately after triggering, a reversal may occur. But the backtest on different instruments indicates that the adviser works.

• While Kenyan Forex robots are useful for mechanical trading, you must remember that these robots are not magic money devices.
• They also provide an easier way for novices to enter the Forex market without their own knowledge of technical analysis or trading strategies.
• Some point out that the large reversal trade that is automatically made after a losing trade closes out is less than ideal and not always desired.
• A Kenyan trading robots success depends on how well it follows certain rules and strategies set and agreed upon by the trader in Kenya.

The modified version of ZigZag draws key resistance and support levels by extremums. A pending stop order is set at the level, and in the event of a breakdown, the volume of the trade increases in the direction of the sudden price movement. The trade is insured by a trailing stop to take most profit on the trend, exit by stop loss is possible. The key advantage is that the EA does not require re-optimization. This is a self-learning system built on a mathematical algorithm, which the developers do not disclose. The trading statistics are impressive, but it takes time to set up all the parameters.

Almost everyone is aware that you can use a Kenyan Forex robot to trade on your behalf in Kenya. They are a great way for Kenyan traders to trade using preset rules nonstop. If you are trading by yourself, robots can be programmed with trading strategies to do some grunt work for you when trading in Kenya. These Forex trading robots are designed to automatically make decisions based on logic and data on your behalf based on the criteria you set for them in Kenya. Although good for an experienced Kenyan traders workflow, they hold allot of risk for new Kenyan traders.

Forex Robots They Can Trade 24/7 In Kenya

There is an alternative option though — a VPS server. The user rents the remote capacity of the server on which the desktop version of the platform is installed, and Expert Advisors Forex bots are launched on it. An application on the smartphone provides remote access to the desktop platform. The Hedging Expert Advisor is developed for MT4 and MT5 automated trading platforms. It is based on an indicator big breakout EA trading strategy with a clear algorithm – deviation from the conditions specified in the code is not allowed. Therefore, trades are relatively infrequent and are opened to hold for several days.

There is no requirement to understanding coding – as your strategy is built via drop and drag. We should also note that eToro doesn’t charge any fees to use its Copy Trading feature and all supported financial assets are traded without commission. The process above is pretty much the same as other platforms – such as cTrader and MT5. With that said, some providers do not require you to download any software. Instead, they allow you to activate the system through the provider’s website which in turn – will trade at a broker that has partnered with the developer.

Are Forex trading robots safe to use?

Just give them clearly defined orders and they will follow them to the letter. If you can summarise your risk management rules into «ones and zeros» or simple logical statements, congratulations, you have the opportunity to teach them to your trading robot. Every trading position opened using the AlgoTrading program can be protected by a stop loss or take profit just as you would manually. The only difference is that the robot will do it many times faster and without thinking. Trading robots are used for their tirelessness and efficiency by large investment houses or hedge funds and professional or even retail traders, for whom they save time. This article will serve as a stepping stone if you are thinking about automating your trading strategy.

The risk management system embedded in the code eliminates the emotional factor. Valery Trading notes that the Waka Waka EA has nearly a 5-year string of profits, growing the account by more than 6350% in that time. Combining profits and stability, you can build a passive income, add some consistency to your portfolio and relax while the bot does all the work. Even though there might be some robots for Binary Options we do not recommend using them same as the majority of world Forex regulators due to high risks and lack of transparency. Though the basic Admiral Markets account type does not charge any commission, higher-tier accounts charge trading fees but have tight spreads.

The effectiveness of a Kenyan Forex robot lies in its ability to spot opportunities in the market based on a pre-programmed set of parameters. Kenyan Forex robots can multi-task better than humans because they can monitor and trade in multiple currency pairs at the same time. To make your Kenyan Forex trading robot profitable, you must understand the limitations of these trading robots. The first step in creating an effective Kenyan Forex robot is choosing the best currency pair to trade .