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Showing results for tags 'automated systems'.
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I have bought quite a few robots since I have started with Forex and traded them live with a computer from home connected to the internet. I knew that a VPS is THE solution to ensure that the MT4 broker platform is always up and trading but I could not afford the $35 or $97 monthly fee. Some brokers do provide a free VPS provided the account balance is $1,000 or more, but once again my deposit was only $500. At one stage my account was up to $750 but then disaster struck! My internet connection went down for 2 days. When my connection was restored, my account was reduced to only a few Dollars and I have since seazed live trading due to insufficient funds to start a new account. Had I known about ZuluTrade's existance, this would never have happened and I am almost certain that my account would have been way beyond $1,000 by now. For the people that do not know or are not familiar with ZuluTrade, let me enlighten you. These guys provide a FREE service similar to some paid Trade Copier Service Providers. You open an account with one of the brokers displayed on their site (Alpari is there, FXCM, AvaFX, Boston and quite a few others). Next you review all the professional traders and their performances - if you like, you add that trader to your account. You assign a risk margin, number of open trades allowed, stop loss and take profit levels and click the activate button to start trading. When a trader opens a trade, that same trade is also executed on your account - trade is copied and executed on your account! Well I am impressed with the results. The only negative thing about this service is that you pay both the broker spread as well as a small margin of additional spread to the trader - everybody wins! What makes it better than an automated robot is that if a trader does not perform, you just remove him from your account and add a new more profitable trader. And you can assign multiple traders to your account! In addition, you do not need to install the MT4 platform software, you do not need to have a VPS, actually nothing extra is required. I only started this week of 05 October and the traders already added $12,000 to my demo account! Check out my demo account at: http://forexid10t.zulutrade.com/Follower.aspx?ref=1&id=276005 This is maybe a very good option for newbies to Forex before they get involved in automated forex robots or manual forex trading? I hope this helps the newbies on the forum. Barry
Automated Execution is generally put in place with Expert Advisors in Meta Trader, or with similar programs. These trades tend to be based on technical conditions which show that certain trade entries should be executed, such as a reversal at Fibonacci levels or with an overextended indicator reading.
Hello all! I've been in the Forex industry for 18 months and have learned a lot, though I am still at a dead end in settling on a system. However, I've concluded risk/reward ratio is everything. Considering that most professional traders are right at best 50% of the time, it is best to have a good risk/reward ratio. For those of us who want to make Forex a way to put food on the table, I'd like to present a challenge to come up with a mechanical system (doesn't have to be automated, per se), which given a minimum "win accuracy" and a weekly goal (i.e. percentage of account), and a certain risk/reward, how many trades it would take to reach it and to find a reasonable system in which to implement it. I've attached an Excel file which allows you to play around with the numbers. You can change the fixed stop loss & take profit, minimum win accuracy, return goal, lot size, and initial balance. For me personally, I'm looking at a weekly 10% gain. For those interested, any ideas? Any input? Thank you all. moneymanagement.xls