Introduction to Forex Trading Robots
Posted by | Posted in Automated Forex Trading Systems | Posted on 09-10-2008
I’ve had some questions about how exactly Automated Forex Trading Systems work and decided to post a brief introduction for those who are not familiar with the concept.
Automated Forex trading for the home user is currently only possible through Metatrader, the award winning free trading platform. The Metatrader application contains a built-in programming language that allows you to create custom indicators and trading strategies. A trading system developed for Metatrader is called an Expert Advisor. An Expert Advisor can be used to perform automated trading in your Forex account or to simply generate trading signals that you can act on manually. Popular Forex Trading Robots like Fap Turbo are custom developed Expert Advisors for the Metatrader platform.
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One advantage of Expert Advisors is that you can perform comprehensive back testing against years of historical data with the click of a button. Another advantage is that you can perform forward testing, by running the Expert Advisor on a demo account and allow it to perform automated trades. Back testing and forward testing of Expert Advisors are very effective ways of evaluating new trading systems without risking any of your capital.
If you are interested in products like Fap Turbo, we highly recommend that you spend some time doing back testing against historical data or forward testing in a demo account before trying them on your live account. If you are not satisfied with the test results you can simply ask for your money back as per their full guarantees.
Various Forex brokers support the Metatrader trading platform, but I definitely recommend Interbank FX as my broker of choice. They have a good track record as a broker in the Forex trading industry and offer a variety of free services to their traders. You can open a free demo account and download their Metatrader application here: www.ibfx.com. (Click on the “Download Free Demo” link on the right). The standard Interbank FX Metatrader application includes 2 Expert Advisors that you can use for practice on your demo account.
Click Here to Review the Top 5 Forex Trading Robots
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