Forex Robot software is the ultimate tool to create profitable strategies.
The most efficient way to create a Forex trading strategy is by using Forex Robot software. Daily, we receive many e-mails from students that are looking for good software for Forex traders.
Petko Aleksandrov is the Chief Mentor at Forex Academy and during the years he has tested different software for Forex traders. In order to be profitable, he always uses the best ones on the market.
Of course, the technologies, programming and software development improves daily. That is why for us is a key point to use the most useful Forex software.
We have integrated on our website two Forex software programs for generating strategies and creating Expert Advisors without programming skills.
One is called Expert Advisor Studio and the other one is Forex Strategy Builder Professional. Both programs are very useful and at the same time very different. They generate different types of strategies and automate them as EAs with one click. And that is exactly the key point – no programming skills are needed. Also, both programs come with a 15-day free trial.
What is a Forex Robot software?
This is a type of computer program or software that is used in algorithmic trading to create Forex trading robots, also knows as Expert Advisors or EAs.
The Forex robot software generates the robots which later do the trades based on a set of trading signals. By following the trading signals, the trading robots buy or sell the currency pairs automatically, without the need for a constant intervention by the trader.
Why we need robot software in our trading?
The answer is very simple – algorithmic trading is impossible nowadays without Forex Robot software.
Let’s say you have a manual strategy for Forex trading, found somewhere over the internet. It may be even shared with you by a friend or you have read it in the book etc. The first thing is that without a Forex Robot Software, you have no idea if this strategy is profitable at all.
You do not know any statistics about it, as Profit per day, max drawdown, Return/drawdown, etc. And this is because when trading manually, you can not catch 100% of the entries.
Even you try to do it for a month or two, this is a short period to have good statistics. The result normally is some winning trades, some losing, then there comes the frustration.
The next step is to try to automate the Forex strategy
So you start looking for a developer. It is not a hard thing to find one, even a few are good in it. Normally it will take 2-3 weeks of time if the Forex strategy has 2-3 entry conditions. Such an Expert Advisor will cost you 200-300 dollars. And if you add some trailing SL, or some money management percentage, it will become more expensive and it will take more time.
Do not think that this developer will spend 2-3 weeks time for 200-300 dollars.
He is doing it using Forex Robot Software, just adding some lines in the code to fit your requirements. Obviously, if he gives you the EA after an hour, he can not ask for that amount of money.
And let’s say everything is OK till here, the developer is great, and made no mistakes (which happens very rarely). Then you make the backtest and realize that this strategy is actually not making a profit. You can optimize it, but in most of the cases, the traders are over-optimizing it.
This means that they use the Optimizer, but it finds the best parameters for this period of time over your historical data. You can guess what will happen when you start trading with this Forex strategy – it will lose money.
The same thing when you buy a Forex strategy as Expert Advisor over the market. You see the perfect backtest, and when you start trading, it starts losing. In other words, the backtest you see is just an over-optimized Forex Strategy.
With Forex Robot Software, we eliminate all the problems mentioned above:
- it has a generator which generates your strategies over the history data from your broker, which as we said, is essentially important
- you don’t need programming skills – you can export the strategy with one click of the mouse, with a perfect code behind
- you can test the robustness of the Forex strategy with the Monte Carlo and Multi-Market test
- in the Forex Robot Software, you have complete statistics, journal, chart, and equity line from each Forex Strategy
- if you change a parameter, you see the results immediately, which takes time with the back tester in MetaTrader
- you are able to trade a portfolio of Forex strategy, and even to export many strategies as one Expert Advisor
With the Forex Robot Software called EA studio, you can export 100s of Forex strategy daily, and test them on MetaTrader.
After that, you can select the best performers. If any of the chosen strategies start to lose, you can replace it with another one that you have already generated, tested and exported.
We have recorded a free online course committed to EA Studio. It will show you how to use the robot software for trading automation and how to create thousands of Expert Advisors on your own.
Forex Robot Software gives you the freedom to be independent. The cost for a lifetime license in long term trading is a great investment, because you will not pay any money to e developer, and you will be able to create 100s of EAs daily. You can become a seller as well.
If you want to test a professional Forex Robot Software, you can sign up for 15 days Free Trial.