Is it true forex robots need monitoring the market for days before starting trading?
Thursday, December 5, 2013
, Posted by Ryanita at 3:00 AM
Pher M
Is it true forex robots need monitoring the market for days before starting trading themselves on their own?
That's a feature I would dislike if so
Answer
An EA is built to enter trades when certain conditions are met in the market. If those condition are met than the EA enters the trade. If those conditions aren't met the EA doesn't enter the trade. Depending on what conditions the EA is built there are days when it doesn't have trades and days when it haves.
Having said that it is true that the EA needs to monitor the market all the time (meaning you need to leave your computer runing in order for the EA to work) and depending on the EA, the number of trades varies and there are days without trades. Don't forget that forex trading is about having patience to only take the best trades. Happy trading!
An EA is built to enter trades when certain conditions are met in the market. If those condition are met than the EA enters the trade. If those conditions aren't met the EA doesn't enter the trade. Depending on what conditions the EA is built there are days when it doesn't have trades and days when it haves.
Having said that it is true that the EA needs to monitor the market all the time (meaning you need to leave your computer runing in order for the EA to work) and depending on the EA, the number of trades varies and there are days without trades. Don't forget that forex trading is about having patience to only take the best trades. Happy trading!
What is the best online broker for forex trading.?
progress
I want to start trading forex, but i've noticed there are several trading brokers/platforms. Can you please tell me which ones are the best to use and why? And more importantly, your experience with your choice.
Thanks
jackson
Answer
I use Interbank FX and GFT. I don't find their spreads to be any better or any worse than anyone else but I appreciate their customer service and user friendliness of their apps.
InterbankFX has another cool feature and that is the ability to use their credit or debit cards in order to quickly access money from your account. One word of caution is that all brokers make it very each to put money in....and many make it extremely difficult or time consuming to get money out. I guess they like that float.
The third reason that I like Interbank FX is that they have actually developed an EA for us that monitors my account balance and automatically closes all my positions and locks in my profits using either a profit target or a trailing stop setup. It is very cool waking up and seeing that you have just made $800 while you were asleep.
Lastly, we have negotiated institutional interest rates with both of these firms that are not available to other retail clients.
I hope this helps.
paul
I use Interbank FX and GFT. I don't find their spreads to be any better or any worse than anyone else but I appreciate their customer service and user friendliness of their apps.
InterbankFX has another cool feature and that is the ability to use their credit or debit cards in order to quickly access money from your account. One word of caution is that all brokers make it very each to put money in....and many make it extremely difficult or time consuming to get money out. I guess they like that float.
The third reason that I like Interbank FX is that they have actually developed an EA for us that monitors my account balance and automatically closes all my positions and locks in my profits using either a profit target or a trailing stop setup. It is very cool waking up and seeing that you have just made $800 while you were asleep.
Lastly, we have negotiated institutional interest rates with both of these firms that are not available to other retail clients.
I hope this helps.
paul
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