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For our assessment of forex broker education, we analyzed ten different variables for each firm. Our focus covered the basics of forex trading to advanced strategy. Components assessed included blogs, articles, video content, seminars, webinars, and content organization, among others educational resources. Forex broker platform tutorials and FAQs were not considered educational materials.

Our advice is not to rely on automated trading systems entirely, because successful trading requires a large amount of human research and observation. The human mind is also much better at following economic conditions and keeping up to date with the latest financial news. Robots are, however, pretty good at picking out positive trends and trading signals, but their functionality can be hindered by shaky trends and incorrect information. Nowadays, there is also the risk of hackers, viruses, and scams entering the mix and messing things up completely.
Using AI through algorithmic trading is anything but an assurance of good performance. These programs are fallible for many reasons in their own right, otherwise, every single trader would be using them. Keep in mind that automated software does not guarantee an infinite amount of successful trades, it just offers you more information with which to interpret the market.
FX charting applications collect the feed of prices from one or more sources, plotting the price changes on a chart, as well as providing some additional benefits for traders. If there is more than one provider for the price feed, the software may either aggregate the prices and display only the average quotes. Alternatively, they might display the quotes from different providers without any aggregation. 

You should consider reading customer product reviews that are posted online before purchasing, as they are a good source of information about the automated currency trading software. Price competition currently favours the consumer, so perhaps it's a good idea to shop around for the best deal, but be careful not to sacrifice quality for price. Prices for trading packages can range anywhere from hundreds of dollars to thousands. Lastly, look for a high level of service and technical support. This is crucial for Forex traders at any level of experience, but is especially significant for novices and newbies.
Your bot will also have to import market data in some way, possibly in “real time” (with extremely low delay), if your trading algorithm in any way must react to what’s happening right now in the markets. If trading decisions are based more on fundamental factors and are just waiting for the “right price”, getting market data with millisecond delay might not be essential.
If you are trading with a reputable broker, the chances that you are on MetaTrader 4 or MetaTrader 5 are pretty high. If you are on this platform and you are looking for an advanced charting solution - you should look no further. MetaTrader platforms are great because they are available with a great number of indicators attached to them, along with a lot of time frames for your analysis. What's more, customising your charts' look and adding your own indicators is simple to do.
Risk Warning: Trading involves the possibility of financial loss. Only trade with money that you are prepared to lose, you must recognise that for factors outside your control you may lose all of the money in your trading account. Many Forex brokers also hold you liable for losses that exceed your trading capital. So you may stand to lose more money than is in your account. Evestin Forex takes not responsibility for loss incurred as a result of our trading software (Trading Robots). By signing up as a member you acknowledge that we are not providing financial advice and that you are making a decision to place trading robots to trade on your own account. Trades are done automatically and, thus, do not require human intervention. You as an independent and self-directed investor are fully responsible for the trading robots and any trades robots place on your account. Any advice given by Evestin Forex is general product advice only. Please consult your licensed financial advisor to decide if algorithmic trading in Foreign Exchange is suitable for your personal financial situation.
If you've made money trading foreign currencies, then the IRS wants to know about it. TurboTax and other tax-preparation software make it fairly easy to track and report your gains, and your trading platform should provide the backup documentation, if needed. Keep in mind the important choice you have to make, as a forex trader, to treat forex gains as miscellaneous or investment income.
Moreover, remote access capability is vital if you travel often, or intend to be away from your PC for a long time. Therefore, your program should allow full access and functionality from any current location through Wi-Fi or any other form of internet access. A web-based program can be the most useful and practical method of serving the trader and their needs. It is important to outline that virtual private server hosting, or VPS, is a service worth considering for the prudent Forex trader. VPS is sold by different companies, and provides immensely fast access, isolates the Forex automated software for security purposes, and also offers technical support.

I have already tried other EA’s out there but this one is unusable. Ever since I started using it six months ago, all it did is lose my investment, no matter what settings I use or broker I choose. I even paid an additional amount for the “Forex Guru”. This feature is very use as it’s apparently designed to set the “Stop Loss” to 50% higher than the “Take Profit”. I can’t believe I even paid for that! I spent months trying to figure out what settings would be best to profit from this turbo. I even tried different brokers to no avail. Like a lot of turbos out there, this one is waste of money, time and space in the hard drive. I’m sure that the only ones who make money from this are their affiliate marketers that sell it.
Since automated trading systems vary in terms of swiftness, performance, its programmability and complexity of use, what is good for one trader, might not be good for another. Some Forex traders will want to have a program that generates reports, or imposes stops, trailing stops and other particular market orders. An essential item in any automated system or automated Forex trading robot is the real-time monitoring. Other traders, such as beginners, or those who are less experienced, may want a simpler program with a set-and-forget feature.

Live trading results – It is common for robot sellers to promise a winning ratio of 90-99%. But this figure is very deceiving, and you should take a look at the bottom of the page to find out whether the results are based on real time or simulated trading. As there is a big difference between results in real time trading, where markets can be very chaotic, and simulated trading where parameters are strictly controlled. There is also the fact that simulated trading doesn’t take into account liquidity, which is a crucial part of real-time trading. You should also bear in mind that simulated trading can easily be manipulated so that the Forex robot comes out a winner every time. Whereas real-time trading results show the true performance of Forex auto trading.
Entry cost. The market for robots is extremely competitive and this has driven the price down over time. Considering the performance of some of the better robots, the money you pay upfront can soon be recouped if you trade it on a reasonably sized account. (Disclaimer: always trial the forex ea in a demo account first until you are comfortable with its performance)
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Back-testing – Always look for a Forex trading robot that has been back-tested on various currency pairs, and in a variety of market conditions. Failure to do so will potentially mean you’re flushing all your hard earned cash down the pan. Back-testing will show you how the program would have functioned in different market conditions such as high and low volatility, announcements, and important news. It will also indicate possible losses, wins, maximum drawdown, and the risk and reward that are possible. A genuine robot merchant shouldn’t mind if you choose to do the back-testing yourself. But if they do then this is a sure fire sign that the robot is really pretty worthless.
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Automated trading software can be a great way for beginners to observe how a professional traderapproaches the market.This gets back to emotional issues, the plague of all forex currency trading beginners. If you select wisely, and only place the robot on a demo account or small live account, you can sit back and “see how it should be done” at your leisure.
I'm writing to let you know that so far I'm very astounded by your EA. I have traded the market since 2003 (6 years) manually and also with robots... I have purchased every course, every EA, every software program... and spent thousands.... I don't care that I've spent thousands because the Forex market is worth it..... I bought your EA the other day and put it to work..... Over 900+ pips in two days.... 900 PIPS IN TWO DAYS!!! Once again 900 PIPS in 2 days.
Novice and even experienced traders might sometimes make a trade based on some psychological trigger that disobeys the logic of market conditions. With automated trading, different human lapses of judgement just do not happen. Furthermore, for currency speculators who do not make trades based on interest rates, but rather on particular currency spreads, auto Forex trading software can be effective. This is because price discrepancies are instantaneously apparent, the information is immediately read by the trading system and consequently a trade is executed.
End-users of the NetDania software that make use of the trading integration features as direct clients of integrated brokers, should be aware of the level of risk carried by trading in financial markets. Trading foreign exchange and or other financial instruments on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or more of your initial investment, and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading, and seek advice from your broker and or an independent financial advisor if you have any doubts. Anyone opening a live trading account needs to adhere to the laws of their local country as such laws may differ from country to country.  
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