Profitable Types of Forex Trading Software – EA

the best ea forex

Today, trading in financial markets is becoming more complex and rapid. There are still individual traders who can earn manually, but their number is gradually decreasing. Robot trading software are insensibly replacing human logic. Forex EA is a robotic trading algorithm that independently makes transactions without the participation of traders. Most newbies completely trust such software. But even the best EA Forex may make mistakes, not to mention the fact that many of the programs offered for free (and for a fee) in the form provided for download simply do not work or quickly lose relevance.

Many experienced programmers offer to buy profitable or download for free the best EA Forex, but each such algorithm is designed for a specific trading strategy, account types, deposit size, currency (trade) pairs. Most of them are created for the MetaTrader 4 trading platform in the MQL language. Therefore, to get a truly profitable EA and he became the best you must not only choose the right program, but also optimize it for safe, profitable work. Next — periodically adjust it.

Classification of robot trading software and how they work

Before selecting the best EA Forex for your strategy, you need to understand well the programs that have appeared on the market and the features of their use. Depending on the degree of interaction with the trader, the EA Forex is:

  • Fully automated;
  • Semi-automatic.

The first group includes universal independent robots that do not need trader control. Each such Forex profitable EA works all stages of the transaction automatically. He carefully analyzes the market, finds the most profitable trends, calculates the available capital and the optimal number of opened orders, starts, accompanies and closes transactions. The best EA Forex of this type is usually created by trading strategies that have shown the maximum profitable over the last time period (a year or more).

Semi-automatic programs are able to study the market and suggest moments of opening deals, but they will not do anything further without your participation. This Forex EA will quickly calculate the selected lot, stop loss and take profit, give a recommendation on which pair to work with and issue a request for the operation. Then you decide: whether to use the best Forex EA or wait. In any case, all his actions will be carried out after your confirmation or ban.

The script is also a profitable robotic assistant in the financial market, but it is not a EA Forex. This is just a good working tool that does not participate in market analysis and does not open positions independently. It helps to calculate the lots and other parameters of the transaction, when various orders are placed, once performing a specified function at launch. Both the best EA and the trader can interact with him.

Types of experts for Forex

Given the way of trading and strategy, each Forex profitable EA can be assigned to the following groups:

  • Trending;
  • Multicurrency;
  • Pyramiding;
  • Scalpers and pipsers;
  • Combined.

The best EA Forex of the trending type is designed for trending trading. First of all, he determines where the trend is moving and calculates how to get the maximum profitable from it. It is characterized by the opening of long positions in the direction of the trend with a large time profit. If the direction of trend movement does not change, transactions may not close for several days.

The multi-currency EA Forex uses for work different currency assets. Even when installed on one trading terminal, it can control several currency pairs at once. Involving different assets, it takes into account their volatility and behavior. Pyramiding (martingale) Forex profitable EA is the most risky, but for experienced traders its use is the best way to get maximum profitable. Someone scolds him, someone praises him, but the essence of the algorithm is to increase the lot or double the rate at each loss. As a result, the Forex profitable EA working on the Martingale system either covers losses, or leaves you without a deposit (especially when it is not large enough).

The best Forex EA among scalpers and pipsers always associated with the implementation of multiple transactions. For profit, it works in daily limits with low timeframes. The algorithm keeps track of how the market fluctuates and specializes in short transactions with large lots. It is considered the norm to have short-term drawdowns, and the target profitable is usually small.

The combined Forex profitable EA uses several strategies to work at once. Some robots themselves can change tactics within the same trading session, while others, having appreciated the changes taking place in the market, suggest that the trader should do so. The best Forex EA of the combined type can have in its database various trading algorithms for large and small deposits.

How to choose the best EA and whether to rely on it

Each system created adheres to its own algorithms and principles of operation therefore there cannot be a single opinion here. Each EA Forex best or worst will have its advantages and disadvantages. All of them monitor current trends, calculate them and search for ways to obtain probable profitable. With them you automate your actions, reduce emotional stress, you can take into account many factors and quickly respond to market changes.

However, even the best algorithm cannot perform fundamental analysis and take into account real events until they appear on the graph. Therefore, good traders are always holding events under control. As for the use of a particular program, choosing the best Forex EA follow this sequence:

  • Decide on the preferred trading method;
  • Select programs that match the desired type, strategy, degree of risk;
  • View the history of their trading on real services (myfxbook, etc.);
  • Test it on demo accounts (usually developers go for it);
  • Optimize settings and see profits.

If the selected Forex profitable EA does not meet your expectations, proceed to the next program.