If you are looking in to automated trading you are on the right track. When you don’t have years of experience in trading this could be the right way for you. I will describe below what the benefits are of using an automated trading bot and what is the best trading bot for you.
Emotions
If you did some research in to trading a lot of people keep repeating that emotions are the worst thing in trading. When emotions take over your strategie you can lose a lot of money by making choises based on your emotion in stead of your system.
When you use an automated trading bot you won’t be bothered by emotions, if you have the discipline to keep your hands of the settings! The forex trading bot will hang on to the settings and the strategie it is following. Off course there will be losing trades from the trading bot as well, but if the system is working and followed you will make more profitable than losing trades.
24/5 trading
No matter how often you trade, you can’t analyze the charts 24/5 yourself and spot all the opportunities yourself. The big plus when you use a trading bot is that the bot can do this for you! It never has to turn of, sleep or is sick, have plans with friends or family or whatsoever. It can spot everything that is going on in the charts.
What do you need for a automated trading bot?
Broker with Metatrader support
In most off the cases you will need a broker which supports Metatrader. This free software is supported by most of the brokers. The Metatrader software allows you to install and use custom experts and also trading robots. So this is the best way to use an automated trading bot.
VPS server
A VPS server is a really different thing than a VPN server. If you want to know more about this subject please read THIS page. Short description: a VPS is a virtual computer which runs on a server which you in most cases rent. There are a lot of companies which offer to rent a VPS with them, there is a lot of difference in prices and quality.
The VPS will run 24/7 with minimum downtime and is allways online with a trustable and solid internet connection. So you don’t have to worry about your own PC which has to be allways on and running.
A good trading EA or trading bot
It is not easy to find a good and reliable trading bot or trading EA. There are a lot of trading bots on the market which in the end will lose money. You can’t trust all the makers and all the promises they make. So use your common sense and allways have in mind with trading: If it sounds too good to be true most of the times it is to good too be true.
I did my own research and found the automated trading bot named above. you can track al the settings which are tested on real account and not only demo accounts or backtesting. Backtesting tells you in the end nothing about the trading qualities in the present day. I can optimize a trading setting myself so I make millions in backtesting but that doesn’t mean I will make money trading for real.
Automated trading
This is the forex trading bot that I use myself. You can buy this bot, set it up on a VPS with metatrader and control it yourself. You can choose between multiple settings and strategies. The settings you can adjust and tweak yourself, but I advice you not to mess with the settings. The bot is created and tested on the standard settings. All the custom settings displayed on MYfxbook you can find back in the forum of the bot. Don’t mess with it yourself because you will see that in the end you will lose money.
Copy trading
If you don’t want to trade yourself but do want to automate your trading there is another option. Copy trading! I will tell you al about it on THIS page. But the upside with copy my trades is that you copy my robots trades and don’t have to worry about the settings, VPS and uptime and anything like that. If you want to copy my robot just click the banner below and follow the steps when you click on ‘Invest’.
