Forex Trading Links -These are some important websites for all currency traders
Forex is a multi-trillion-dollar market, with a daily turnover reaching 4 trillion U.S. dollars. In such a vast market, brokers need to be credible and reliable. Strong regulation of Forex brokers gives traders confidence that their funds are securely held and managed according to ethical business practices. A Forex regulatory body serves as a guideline for investors seeking safe trading systems that adhere to established standards.
Major Forex Regulators
It is important for investors that their partner (Forex broker) is licensed and regulated by at least one major regulatory body. Unregulated Forex brokers can pose significant risks to investors and may cause serious financial losses, especially when it comes to procedures like withdrawing funds.
■ ASIC (Australia)
ASIC is the main Forex regulatory body in Australia. Established in 1991 as a replacement for the NCSC (National Companies and Securities Commission), it oversees corporate and financial markets as well as financial services in the country. ASIC specializes in regulating OTC markets and brokerage firms, including Forex brokers and binary options brokers.🔗 More: ► Visit ASIC
ℹ️ What is a Forex Robot: A Forex robot, also known as a Forex Expert Advisor, is a small computer program that integrates with automated trading platforms like MetaTrader or TradeStation. This software operates based on specific algorithms that apply technical analysis rules and conditions to open, modify, and close trading positions. A Forex robot can trade the market 24/7, eliminating human emotions and limitations such as fatigue and frustration.
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FX ROBOTS |
ROBOT TYPE |
PLATFORM |
FEATURES |
COST & INFO |
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◘ EA BUILDER
RATING: 5/5
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■ CREATE CUSTOM EXPERT ADVISORS ■ BUILD AUTO-TRADING SYSTEMS WITHOUT USING ANY CODE ■ TRADE FOREX, EQUITIES, METALS |
L METATRADER 4 & 5 | TRADESTATION
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■ Create custom Automated Trading Strategies ■ Graphical User Interface (no programming needed) ■ Full set of functions, including time■ Full Money Management features ■ Lifetime access to Support |
> Free for creating indicators > $97 (one time) for EAs Unlimited Real & Demo Accounts
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◘ WALLSTREET FOREX
RATING: 3/5
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■ SCALPING 6 FOREX MAJORS ■ TRADING 4/5 DIGITS ■ STEALTH MODE |
L METATRADER 4 & 5
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■ Five (5) built-in protection algorithms ■ Trading six (6) Forex pairs: EUR/USD, GBP/USD, USD/CAD, USD/CHF, NZD/USD, AUD/USD |
> $299 (free updates) for two (2) real accounts Unlimited Demos
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■ Fx Robots Comparison
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♖ Creating Your Own Intraday Forex Trading Strategy
The Foreign Exchange market is characterized by high volatility and uncertainty. Therefore, long-term success depends on having an effective trading strategy. There are hundreds of intraday strategies based on a combination of technical analysis and money management techniques. It is crucial to choose a strategy that aligns 100% with your risk profile and overall personality, allowing you to apply it with discipline.
Intraday Trading – Basic Requirements
Intraday trading is challenging and not suitable for every Forex trader. To succeed as an intraday trader, discipline is essential. Only discipline and logical decision-making can guide you safely through trading in very short timeframes. Emotional trading, on the other hand, leads to poor outcomes.
Additionally, successful intraday trading requires the right Forex broker. Only ECN/STP brokers are appropriate for this style of trading. Important broker features for intraday trading include:
(i) Minimal spreads on the currency pairs you trade
(ii) A rebate plan to offset trading costs if spreads are wide
(iii) Fast execution without delays or price manipulation (ECN/STP execution)
(iv) A trading platform that suits your needs (e.g., MetaTrader 4)
(v) Full scalping allowance (some Dealing Desks restrict scalping)
(vi) Complete fund security (regulation, client fund segregation, etc.)
Only ECN/STP Forex brokers can consistently offer these features. In contrast, Dealing Desks (market makers) typically cannot, due to price manipulation and execution delays.
🔗 More: » Compare ECN/STP Online Brokers
🎬 The Basics of Auto-Trading
Forex auto-trading refers to a method where a trading system (hardware/software) automatically executes and adjusts trading orders in the Forex market on behalf of a trading account. These orders follow predefined criteria set by the user, mainly based on price and volume metrics.
The idea of Automated Forex Trading
The goal of an auto-trading system is to enable 24-hour, 365-day trading without the influence of human emotions or stress. Auto-trading systems can execute trades without delay and can operate across multiple markets simultaneously.
Two General Types of Auto-Trading
There are two main types of Forex auto-trading:
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Copy-Trading
This method involves automated execution based on incoming trading signals. Many signal providers exist in the Forex market, most requiring a monthly subscription.
Tip: Before subscribing to a signal service, research its past performance (at least 2 years) and the team behind it. -
Trading Using Forex Robots
Forex Robots, also known as Expert Advisors, use mathematical algorithms to analyze technical factors and determine when to buy or sell. Traders simply adjust the settings, and the system operates automatically 24/7. Since many Forex Robots do not perform well, traders should thoroughly review an Expert Advisor’s past performance before use.
Tip: Whatever auto-trading method you choose, always test it on a demo account before trading with real money.
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