After the course was launched and the trading process published we found that most of the trading decisions and position sizing could be adapted for automation.
The Make Money EA was created with all the winning decision making built in. What is more is that more risk management tools were added to filter out risky trades and reduce risk. Targets and stops were also made more flexible. Over time and EA trading experience these timeframes appeared to be long.
It was found that by reducing the number of open trades and using the 5 minute timeframes much more robust and lower risk results were produced.
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Users and new clients soon benefited from these lower risk short timeframe settings. In the most recent update these finding were reconfirmed providing a new platform for the production of robust results. So What is the Make Money Capable of?? The quickest way of evaluating and EA is by back trading it to see it's potential. The analysis below is available to owners of the EA and show 4 timeframes back traded for 10 currencies giving 40 downloadable set files.
Which Are the Best Forex Robots and Do They Really Work?
This very detailed analysis allows traders to be very selective about which setting they want to use based on their preferences which include: profitability levels, time frame, drawdowns, setting consistency, currencies and much more. The results are not presented to create unrealistic expectations and users should be aware that the results are a highly optimistic analysis of history. History is unlikely to repeat itself so these results are merely an analysis of the past and should not be deemed to guarantee future profitability.
ALL Forex EAs and trading techniques in this volatile and inconsistent Forex market have large drawdowns and losing streaks from week to week, or from month to month, so short-term results are not always an indication of the long-term potential of an EA or technique.
Forex trading is risky and you can lose all your money quickly if you are not skilled in position sizing and risk management.
The settings and set files were created from historic testing and do not represent recommendations or advice from the suppliers of these EAs. Use the information and settings supplied at your own risk and take into account the limitations of how they were created.
Watch this video to see recent live trading results How does the EA work and what are the settings? This EA is a trending EA that only enters trades when the market starts trending Please refer to the input section shown to see how the items below are catered for in the EA The EA will enter a deal in the direction of the trend at the close of every how to make money with trading robots at the price of the closed candle. The trend is determined by 2 moving Averages a slow one and a fast one. Both moving averages must be pointing in the same direction for a valid trend to be in place.
You can change the setting for these MAs You can limit the number of open deals you what to allow. Every transaction can be given a target and a stop.
Reaching the target or being stopped out is one way transactions are closed. When the trend changes from for example a Buy to a Sell you can decide if you want to keep open transactions open or to close them all. That is another way transactions are closed.
What is a Forex robot?
You can use the ADX indication to filter out transaction that occur in sideways markets. The ADX measure the volatility and trendiness of a currency. You can determine the time of day you want to allow the EA how to make money with trading robots open deals You can determine the Day of the Week you want the EA to open how to make money with trading robots. You can even change the direction of the trades so that the EA will trade in the opposite direction.
Final Thoughts shares Forex trading robots are designed to help traders who want to use automated trading methods to assist with the technical analysis and repetitive elements of forex trading. Forex robots can automatically trade 24 hours per day and are simple enough to buy over the internet.
How to personalise the EA for your personal Forex trading account Many Forex traders buy an off-the-shelf Expert Advisor and automatically assume that it will work for their Broker, their type of broker account, any currency, any time-frame etc.
Anybody who has purchased an Expert Advisor will tell you that they never experience the same results as advertised.
If you are using smaller accounts you need to take this into account and also use the potential drawdowns you may encounter into account. All backtrading was done using GMT as the broker timeframe.
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If you have a broker with a different server time zone you need to adjust the time of day settings. This is quite easy. How easy is it to start trading the MakeMoney EA?? Watch this video to see how you can easily download this EA and be trading in record time.
It shows how to download it immediately after your purchase and then load setting quickly and efficiently. Technical support There is ongoing professional technical support available from EAFactory who are responsible for the technical aspects and support of this EA. Forum There is a Make Money Forum created in the Expert4x Forum to support traders who need trading assistance and would like to share their experiences with other traders. On screen help The Make Money EA has a revolutionary new, on screen, help facility whereby you can find a possible answer to your exact problem as it happens.
Settings The best settings are updated regularly and published on the EAFactory website.