Best Automated Software for Currency Market Trading - Forex Expert Advisor Software
Best Automated Software for traders looking at new methods of forex trading where they can automate trading using a Forex Expert Advisor Software and trade their forex accounts automatically using a Expert Advisor software or what is oftenly referred to as a Expert Advisor robot.
The best automated Expert Advisor software platforms are programmed to profit from the currency market by trading market fluctuations, that is why they are sometimes referred to as robots, that can trade the forex market automatically.
Automated System - Forex Expert Advisor Software
Let’s say you want to start automated trading or already have started but you are looking to improve your automated forex EA system, then what are the methods that you can implement so as to improve your forex EA.
Methods to improve automated Forex Trading System.
1.Learn MQL4 Coding language or what is basically C plus plus programming language.
A good place to start with is the MQL4 Forex Expert Advisor community where you can get several MQL4 tutorials or ask traders using these Expert Advisor softwares where you can get these tutorials to learn this programming language.
Reason you want to learn how to program these Expert Advisor software robots is so that you can know how to program a forex EA according to rules which you set for your automated trading system. You will be in a better position to know how to translate a manual system to an automated Expert Advisor software platform.
To give you a tip & a lesson in coding you will first need to specify pseudo code or the logic of your forex system before translating it into an automated system.
Once you learn a little bit of programming this will help you quite a bit, it may not make sense now but once you begin to code these Expert Advisor software trading systems it will definitely make a lot of sense, after all without specifying the pseudo code like the above example you will not make any head way in programming an automated forex trading EA, because you will have not specified what you want the automated system to do or where you intend to begin from.
2. Learn what metrics the automated trading system requires
Automated Forex platforms used to trade the online forex market without involving any human intervention are just a set of algorithms which mimic trade strategies, in fact these algorithms are the trading strategies themselves.
Traders using automated forex trading Expert Advisors will take a strategy, program that strategy to create an automated Expert Advisor trading system, some traders using the popular MT4 Expert Advisor software platform, will commonly refer these programs as EA or Expert Advisors, that are implemented using the popular MQL4 programming language, found within the MT4 software.
MetaTrader 4 platform
A good example is the MetaTrader 4 robots that have so much parameters to optimize, such that as a novice if you don’t optimize for any one of them then your Expert Advisor trading system may not be a profitable as it should.
Therefore make sure to know which parameters to optimize for & how to optimize for these parameters.
MetaTrader 4 Strategy-Tester
3. Host your automated systems on a VPS server
Another thing that's coming about in when it comes to these system is VPS for forex EA hosting or virtual private server hosting for Expert Advisor Forex Bots, so that they can trade from the server round the clock as opposed to these Expert-Advisors trading from your Personal Computer.
VPS for forex EA hosting - Virtual Private Server
The thing about automated Forex trading is that they need extensive testing so that to deal with dynamic nature of the currency market.
For Expert Advisors you need to host it on a VPS server that can run your robots 24 hours nonstop, all you have to do is to hire a VPS server for about $20 - $50 dollars, then install a MetaTrader 4 from your broker on this VPS server and then setup your automated trading system in the MetaTrader 4 and sign in to your account & activate the Expert Advisors to run continuously on the VPS hosting server.
Hosting on a VPS ensure that inter net interruptions do not interfere with your bots that needs to be in the market full time. Secondly, you can't run your Expert Advisors on your Personal Computer 24 hours a day.
4. Get a good broker
This may not seem as a point when it comes to improving your automated forex system, but consider this: A forex broker notices you are executing trades which are profitable & your trades are executed by scripts that are used by EAs, so the broker isn't a very good broker & maybe is a market maker that profits when you make losses, so the broker also has been in this game longer than you and knows that when you come to them with a profitable auto systems they also have their own virtual dealer plugin which beats your automated trading system hands down. So the broker implements Virtual Dealer Plugin then now when your automated forex system puts a trade it gets a requote such that this confuses your EA robots, then the virtual dealer sometimes off quotes your automatic system, or it logs off your platform for an hour such that when your system logs back again then the signals it generates are unpredictable.
SO do yourself a favor get a genuine broker that will not manipulate your Expert Advisors when you will be trading with these Automated Forex Trading Softwares.
