Forex Trading Robot is an automated software that acts as an expert advisor or EA, which offers guidance on when you want to trade.
Forex Trading Robot is increasingly popular especially among investors or foreign exchange (forex) traders because this robot is both capable of running forex as well as controlling the emotions of traders.
This robot is built with MetaTrader and uses the MQL scripting language, which allows traders to generate trading signals or orders, and manage trades. Currently, there are many forex robots that can be used on smartphones, with a note that the forex robot you use is permitted by the forex broker and is compatible with the trading platform.
For trading beginners, this time KoverMagz we will describe 3 trading robot applications based on Forex Robot Nation page that have passed both backtest and forward-test.
1. GPS Forex Robot
is an EA created by Mark Larsen, a well-known developer in the forex market. GPS Forex Robot 3 is the latest update to the software. This forex robot is proven to be able to adapt to all market conditions and is able to use various strategies needed by traders. In addition, this forex robot is believed to be the trading robot that is suitable for beginners and is able to generate almost 300% returns in less than 3 years.
2. EA Forex Flex
Is known as a trading robot that is made specifically by referring to Virtual Trade. This forex robot is available on the MT4 platform and provides 12 different strategies that can be used when trading.
The Virtual Trade feature is able to make this forex robot open a position that can determine the best entry level with some certain algorithm. In addition, the advantages of this robot is it has the Precision Entry Point, capable of filtering any open positions. EA Flex will open six different trading positions virtually before it will actually determine the most appropriate level to enter the market.
Furthermore, you can also try this forex robot through a demo account that is available through the robot developer.
3. Fury Forex EA
Reporting from the Forex Fury website, the Forex Fury EA has been backtested for 15 years. Forex Fury also provides EAs for various forex pairs, so you can freely choose your favorite forex pair.
Fortunately, with a minimal risk trading strategy, EA Forex Fury claims to have a drawdown below 20%. Sounds pretty good, huh! This forex robot also works great on both the MT4 and MT5 trading platforms with a wide variety of forex brokers. Forex Fury has a useful filter technology to avoid bad market conditions.