Forex Robots - Expert Advisors (Forex EA) for Automated Trading Podcast.
Currency Strength Meter: A Trading Tool That You Cant Afford To Stay Ignorant About
Before you start trading, you need to know what you are doing. The currency on our meter helps identify the strongest and weakest currencies, which might make the process easier for you.
How to use the currency strength meter to make better trading decisions?
The currency strength meter is used to measure the strength of different currencies. When traders evaluate the information, they can see which currencies are currently strong or weak. This data can be used to make better decisions about which currency pairs to trade.
Median helps let you know if the market is in recovery mode by looking at live prices from currency exchanges. If it's influenced by big news and movements, the data may not be accurate as items can spike with changes within seconds.
How to start trading forex with robots
You can see several cases, but only a trading robot can test all cases and give you a result of what will happen if those rules were applied in the past.
The most simple way is to use a trading platform that has integrated robots support.
Opening a position may look simple for a human, but there are many things to take care of if you are using a trading robot.
Algotrading and trading advisors: their pros and cons
Expert Advisors are software programmed to perform actions in response to certain triggers.
Algotrading and Expert Advisors are directly related to each other, as they are based on technical analysis, mathematical models, and statistics.
You can program the Expert Advisor in such a way as to receive notifications about price changes or market events.
For example, if you want to receive a daily report on your trades and the status of open orders, you can create an Expert Advisor that will send you this information.
Testing on the history will allow you to see how your strategy and Expert Advisor work in the past.
Stages of developing of an automated trading strategy
There are several steps from the initial idea for some rules that the trader thinks could be profitable to the moment when we start trader on a live account with these rules. In this article, we will introduce you to the main stages in the process of developing one automated trading strategy. We use this process in our company FXZig in order to receive the most profitable and stable results for the trading robots that we introduce to you.