Automation of your trading system

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With the advancement of software industry everything is getting handled by some kind of software these days. The simple email we send and receive is managed through software, and even some major life saving surgeries is now done by Robot which is programmed by software. Forex trading is now getting automated with both software and robot. 

Trading is a business which involves extreme level of emotions unlike with most other businesses. One can see a trading account getting even 5% profit in one day and at the same time seeing the same account getting down by 5% in matter of an hour. So, human emotions are really getting tested in Forex trading. Sometimes the best of Forex trading system fails to make profit long term, simply because the trader failed to trade the system exactly as per the set rules. The trader either got nervous or greedy or both when faced with some extreme situations while trading. Thus he started taking trades which are not as per the original trading plan. As, a result though the trading system is profitable the trading account is not. It shows loss.

The best way to overcome this problem is to take help of technology and automate the whole trading process. Meta trader trading platform supports trading robot which is popularly called Expert Adviser (EA). It’s written in MQL language which is in built inside Meta trader trading platform. One can design a variety of Expert Advisers based on indicators, raw price actions, trend reversals, or any other rule based trading system. The trader first has to develop a profitable trading system, and then write down the trading rules for it. After, that the trading system is given to a software professional who created the trading robot. If, any indicators are involved in the system, then it’s provided to the programmer while coding the EA. It costs just 100$ to make your own EA. The EA being a robot or software has absolute no emotions. It doesn’t have greed, fear, or indispline which a trader might have. So, the EA would keep on trading exactly as per the set trading rules of the trading system irrespective of the profit or loss the trades are making. And as the trading system is profitable long term as per our previous testing this would ensure the robot giving us profit long term. The trading robot is attached to the currency pair chart which we want to trade and the inputs inside are set by us as per our requirements. After that our job is done. We even don’t have to look at the Account even once. Trading would be opened, closed by the EA on its own. To let the EA run smoothly 24 hours, it’s advisable to host the trading account and robot on a Virtual Private Server (VPS) which runs the trading account for us 24 hour s a day without any fail. The VPS service is very cheap, only about 15$ a month.

So, now we have a winning trading system and automation at our disposal to make constant profit trading Forex.

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The best of ideas need control over emotions to make a success out of the plan. 


Disclaimer- Like any other business Forex Trading too comes with certain risk. One might lose money if not done properly. Never invest money you can’t afford to lose. That’s the first rule for any business. Forex Trading is not suitable for everyone 

Price Action Trading

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There are various ways to trade, Fundamental trading based on the major financial news from major countries, Technical trading which is basically trading done based on technical set ups like support or resistance, trend reversals, break outs. Another trading style is gaining huge popularity these days thanks to its simplicity, and better results. It's called Price Action Trading. Price Action trading is basically a trading method where trading is not done based on any technical or fundamental set ups but on price movements. That's is the movement of price of a currency pair. So, Price action trading is basically done from a naked chart of a currency pair without any lagging indicators. Decision to place trade is made on some set of rules:

1-Movement of certain amount of pips: Example- EURO/US is 1.2500/02. Our Price Action trading has the rule to trade when 30 pips is moved in either direction. So, if 30 pips move up we would go for buy deal and if market goes down by 30 pips we would go for sell deal.

2-Trading at certain market hours: There are 3 major Forex trading markets, Asian Market, London Market, and the US Market. Certain Price action trading is done at a particular market opening. Say, at London Market opening EURO/US is 1.2430/32. We would trade based on how the candles closed as per price movement.

3- Price action based on Candle Bar:  
Up bar: Its also called Bullish Bar, and it has higher high and higher low than the previous bar. The up bars marked above are in an uptrend. It suggests the buyers are still in control, so taking long or buy positions look more safer.

Down bar:  It's also called Bearish bar, it has lower high and lower low than the previous bar. It suggests sellers have more control in the market and short or sell trades would be more safer.

Inside Bar: Inside bars suggest us the market is indecisive about a clear up or down direction.  Inside bar is  a candle bar which has a high which is lower than last bar's high and a low which is higher than last bar's low. It's not suggested to trade at all on such candles.

Outside Bar: Here, the current bar has a high which is higher than the last bar or the next bar and a low that is lower than the last bar or next bar. Here, usually buyers are more in control.

Forex trading needs informed knoweldge, and education. Get it for free by opening a Live Account at the following Broker.

 


Best of plans fail to give us results when the plans didn't come out from the paper.
Take Action, execute your plans.


Disclaimer- Like any other business Forex Trading too comes with certain risk. One might lose money if not done properly. Never invest money you can’t afford to lose. That’s the first rule for any business. Forex Trading is not suitable for everyone