Day Traders Autoamted Trading Strategies
This type of Forex trader holds on to their trades for a few hours but not more than a day. With the aim to make quite a number of pips in profit, 30 to 70 pips.
Day trader makes 2 or 5 trades in one day, participating during busiest times of the market & they do not hold their orders overnight.
These Forex traders use the 15 min charts to put their orders. They use 1 hour chart to figure out the market trend, if it going up or down & to decide their entry and exit.
Day Trader 1 Hour time frame strategy
A Forex day trader using 15 min chart wants to go long, checks 1 hour time frame, it looks like the example below, since it shows the market trend is going up, they will then decide it is okay to buy the currency pair.
Types of Forex Market Traders - Day Traders
Automated Day Trading Software for Day Traders
About Automated Day Software and Forex Robots Used for Day Trading
You can navigate to code base site & get MT4 Automated EA Programming Guide and learn how to automate forex trading and write an EA. But because most people may not want to learn a programming language or take on the task of building automated trading systems & might want to use their time for trading currencies & making profits, for those who don't want to learn programming they can directly access the Forex robots listed on this market: where coders using EA Forex Robots which are profitable sell their automated systems, others can then buy from them or order for one to be coded for them from this codebase.
This code base is also a good place for experienced currency traders, it allows those who can demonstrate that they have a profitable Forex trading bots to get additional earnings by selling their Expert-Advisor Forex Robots, these are also made available directly From the MT4 software, where potential buyers of Expert-Advisor Robots can access them. Screen-shot below shows how a trader can access these MetaTrader 4 automated trading Expert-Advisors on their platform.
Access Automated Trading Softwares From the MT4 Automated Platform
Expert-Advisor Library - for Traders Wanting to Automate Trading
From the above image trader can access the Codebase Market directly from their platform. A trader can then automatically install the Expert-Advisor on to their MT4 software & start trading with it. The Market contains free Expert Advisors as well the paid ones. A trader can also try out any of the above automated forex Expert-Advisors by downloading their demo version after signing up in this Community.
As a trader wanting to get professional automated trading Expert Advisor robots & strategies this is the place to begin.
How to Get a FX Trading Bot
Once you have downloaded MT4 Software and installed it on your computer. You will then have to open MT4 Toolbox: The Tool Box can be accessed by pressing CTRL+T keyboard shortcut keys. After launching the toolbox choose " Market " tab as illustrated and shown on the screen shot below.
A list of available Expert-Advisor Forex Robots will appear as it is illustrated below. You can also choose a forex trading robot from the different categories as shown and illustrated below.
Library of EA Bots
You can then choose the one that is suited for your style method. Each & Every item on this list has extensive description of how it operates and you can use this information to select one that is suited for your methods based on this description.
There are different applications which one-can use, among the ones you can purchase are:
- Expert Advisors
- Custom Indicators
- Panels
- Libraries
- Analyzers
- Utilities
You can choose any of these based on categories as illustrated and shown on image above. If you need to learn what is an automated trading Expert Advisor, custom indicators, libraries, panels, utilities and analyzers on forex platform are you will need to visit the Codebase Community.
Once you've visited & decided which type of application you require, next step is to register & become part of this coding community. After signing up you'll then get an account & you can interact with other forum members & have access to multiple Expert Advisor Forex Robots. To register - go to Registration Page on their web site.
After signing up in community you will then need to obtain credits. Credits is the currency which is used in order to obtain the automated trading systems available. To get credits you'll first need to deposit some money in to your MQL5 account.
You will then use this account & the password which you get to set up the Forex automation on your MetaTrader 4 platform as displayed below. These settings will be set on your MT4 platform that is installed on your PC Desktop computer, and not on MQL5 web-site - but you'll first get them from MQL5 site then set them on your MT4.
Setting Up An Account to Use for Automated Trade on MT4
Log in to MQL5 Account from MT4 Platform
To obtain to the above window panel, Navigate to " Tools", Next to " File, View " at tops left corner of MT4 software. Click on Tools >>> Click on Options, the above window panel will pop-up.
Select " Community " as displayed above, & then type your Login details: Your Login & Password.
Once this is complete you'll now have complete access to the Market, & you can set up any of the Forex robots on your platform and start automated trading.
