Is it possible to actually earn automated forex income?
- Thread starter oliviajayden
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If you will be able to code your trading strategy into an automated expert advisor (robot) or if you will be able to find a ready-made profitable EA/robot, you can earn from Forex in automated way. Still, even when you reach profitability, you would still have to tweak and revise your EA/robot as the market changes.
Work hard & learn! Then do manual trading! EA coding is more complicated than manual trading! it’s my personal observations.
The approach to trading automatization seems to be interesting due to several aspects. First of all, you do not need to deal with psycological issues, that sometimes could be even more difficuilt than to form trade idea.
Another point is that to create EA you need to have almost perfect strategy to be executed without any intervence.
To do that, you need to have both exellent trading and coding skills.
There are less different instruments in Forex, than at stock market, so from that point of view it would be easier to create a strategy. Pay attention to back testing software, it could help you a lot.
Another point is that to create EA you need to have almost perfect strategy to be executed without any intervence.
To do that, you need to have both exellent trading and coding skills.
There are less different instruments in Forex, than at stock market, so from that point of view it would be easier to create a strategy. Pay attention to back testing software, it could help you a lot.
I have another option for you. It is called copy trading; I do it at Forexchief platform all the time. In my opinion, it is cost effective, since you don't have to buy an EA or spend money building. All you need to do is find a trader who is a good wining ratio and automatically copy their trades. Once you register as a follow, deposit money into your account and his winning trades will be copied to your account.
What does intrigue me, is how some traders use and seemingly trust robots on VPS. Are there really ea's that have the ability to adapt to changing market dynamics automatically and with profit, and if so I would like to know of it. My own experience with EA's has been dismal, and I really couldn't feel comfortable using them on VPS.
EAS do not have ability to adapt to different market conditions, but one could place the set up to trigger in multiple market conditions, so eas don't have the ability to adapt , they just perform if changing market dynamics are coded .
Automated earning from forex is possible, the risk is high but it works.Unfortunately you will not learn profitable automated trading on forums .You will learn automated trading, because most people go to forums to learn from others who also don't know.
Of course, it’s possible. But, it takes such a long time to develop a good EA. Besides, depending on others EA is not a wise decision at all.
I do not recommend you to switch from stocks to something like forex if you already be making some good income on stocks even side one. Forex is not investing, but more like trading which needs lot of time and hardly be automated properly. Keep that in mind.
Well said and I do agree on your words! Such as, I am comfortable with only Forex and till now I’m playing only FX instruments; quite enough!
For making sense of profitable trading journey, I am working with modern trading tools and techniques along with advanced risk management tools which I simply love as a risk adverse investor. Though many foreign currency exchange traders are reluctant to work with automated trading platforms, I somehow feel comfortable to work with robot trading system. In the busy day of my life, I actually rely on automated executions of trades.
