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Now, for making this method simpler, and also to offer you a clearer photo of the income, decide on an application which you'll use specifically on your System, ecommerce accounting specialist in uk or combine using your current technique.

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Five things to inspect before selecting a Forex Bot

Back testing

The first thing that you should be looking for when testing a trading robot or a trading system is you need to back test the system. Back testing is one of the most famous ways to test our systems over time. So, what is back testing? Back testing is simply running your trading system over a historical period of data. Why this is important? Because it gives a lot of insights about how your trading system actually performs and how it actually trades and how it was likely to perform over time.  To test a multi pair system, we know that trading strategy is a conglomerate of different currency pairs that it trades. We can use something called quant analyser which is a sophisticated tool in which you can upload all of your back tests and you can see a whole bunch of really intricate data about what's actually happened with your trading system.

During the back testing, we're looking at how much risk is our account at,  we're looking at stuff like the wind to loss ratio, we're looking at stuff like the average size that a winning trade is or the average size that a losing, another thing that we really look forward to figure out the worst case scenario robust maximum consecutive losses that happen in Roe so let's say that it's 30 and then we multiply that times the average loss which let's say was $100 at that point you know you your maximum drawdown in a worst case scenario would be like $3,000 right so that's number one is back testing your system.

Forward testing

To forward test your system is incredibly important even if you back tested back tests can be different than forward tests. Forward tests should be conducted for a few weeks or a month and then you want to compare the parameters matching up to the back tests which include the win-loss ratio similar,Is average winter average law similar?Is the average trade duration is it similar in forward testing as it is in back testing because the more you can match these two up the greater probability you have of having a winning system. Moving forward into the future for testing, you can start forward testing with the demo account before going into live accounts. Start with a smaller account and then as you gain more confidence, you can obviously deposit more and more money

Risk Management

Risk management is extremely important about how does your system actually manage risk.There are a lot of trading systems out there a lot of EA's or auto traders are completely hopeless when it comes to money management and how it manages risk. The bot should follow all the risk management rules. Bot should not be risking the0.5 percent or 1 percent or 2 percent of your account and the other thing that you want to make sure you look for is there's a lot of martingale bots that are available and the vast majority (99.9 percent) of them are useless and you're going to blow your account at some time. One thing that you want to look out for is the bot is tacking continuous positions on top of each other when it's in a losing trade and that's just a recipe for disaster in a lot of the cases so you want to be careful about that main thing here is you want to make sure that it manages risk properly.

The evolving company

The actual company that's selling you the EA bot must have a few things like do they have active development?Are there people that are actually trying to improve the system month after month? Because trading systems change over time and the market changes over time so the better you can continue to develop a system the better it can do in the future. Other thing that you should be looking for inside of the company that's selling the bot is what kind of support do they offer? It is a known fact that expert advisors or trading robots offer awful support and that's why at MT4 Trading Experts, we offer 24/7 live chat support almost instantly because you're going to have questions, you're going to need questions about how to set up especially for trading live. There's a lot of things that can go up wrong with a set up process so you want to make sure that you have good support and that you can actually contact somebody that knows a little bit about the system. The next thing about the company is, do they have a money-back guarantee?A lot of these companies, they're just trying to sell you a robot or trading system or some sort of software and they don't offer a money-back guarantee because they know that their software's not that good and it's not going to stand the test of time and it's likely to blow your account relatively soon. So, that's one other thing that you should look for before selecting a company for the forex bot.

Social Proof

Look for social proof when choosing a trading robot. Can you find a community of people that are using this successfully that have great results? Obviously, the more that you know people that are using it obviously, the more confidence you'll have in actually choosing to use that trading system.

 These five things are the ones you can look at when trying to discover what should be your next trading system or if you should actually use an auto trader or actually not use it because 99.9% of the ones are completely useless but then again this maybe a biases opinion as we have the best trading systems here at MT4 Trading Experts and the best auto traders and Forex robots that are out there.

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What are the investment basics of Forex?

The foreign exchange, or forex market, is the world's largest financial market, and it plays a vital role in the global economy. Every day, trillions of dollars are exchanged from one currency to another. This kind of currency exchange is essential for international business. Forex market participants include governments, businesses, and of course, investors. Governments use the forex market to implement policies. For example, when conducting business with another country, whether it's borrowing money, lending money, or offering aid, a country needs to convert its currency into a foreign currency. Businesses use the forex market to facilitate international trade. For example, they may need to convert payments for goods and services bought overseas, or to exchange payments from international customers into their preferred currency. And investors use the forex market to speculate on changes in currency prices. Currency prices change almost constantly during the week, because the forex market is open continuously from Sunday at 4:00 PM until Friday at 4:00 PM Central Time. A trading day starts at 4:00 PM and ends at 4:00 PM Central Time the following day. The market has to be open around the clock because of the global nature of the economy. Let's go over some basics of how trading forex works. When you trade forex, you're not just trading one product, you're trading two currencies against each other. This is known as a currency pair. The quote for a forex currency pair defines the value of one currency relative to the other. The easiest way to understand any quote is to read the pair from left to right. Let's look at an example of using the euro versus the US dollar currency pair. If the EUR/USD is trading at 1.20, that means 1 euro is equal to 1.20 US dollars. Here's another example of using the US dollar versus the Canadian dollar currency pair. If the USD/CAD is trading at 1.25, that means 1 US dollar is equal to 1.25 Canadian dollars. Even though there are two currencies involved, the pair itself acts like a single entity. It's similar to a stock or a commodity. And just like when trading stock, investors profit when they buy a currency pair and its price increases. Investors can also profit if they sell or short a currency pair and the price decreases. Let's look at an example. Suppose an investor who thinks Europe's economy is going to grow faster than the United States, and as a result, she thinks the euro will strengthen against the US dollar. She can buy the euro versus US dollar pair to speculate on her assumption. If the price of the currency pair rises, she'll make money. Conversely, if the price falls, she'll experience a loss.

Let’s look at a few key aspects of the forex market. When you trade on margin, you only need to put up a percentage of the total investment to enter into a position. This amount is known as the margin requirement. When you trade other securities like stocks, trading on margin means you're borrowing funds from your broker. However, forex trades can only be covered using funds in the investor's forex account. Investors can't borrow funds to enter a forex trade. If they don't have funds in their forex account, they need to transfer funds before placing a trade. Forex margin requirements vary depending on the currency pairs and the size of a trade. Currency pairs typically trade in specific quantities known as lots. The most common lot sizes are standard and mini. Standard lots represent 100,000 units, and mini lots represent 10,000 units. Depending on your brokerage firm, you may also be able to trade forex in 1,000-unit increments, also known as micro lots. Margin requirements can be as small as 2% of a trade or as large as 20%, but the margin requirement for most currency pairs averages around 3% to 5%. To understand how margin is calculated, let's look at an example using the euro versus US dollar pair. Say this pair was trading at 1.20, and an investor wanted to buy a standard lot or 100,000 units. The total cost of the trade would be $120,000. That's a lot of capital. However, the investor doesn't have to pay that full amount. Instead, she pays the margin requirement.

Let's say the margin requirement was 3%. 3% of $120,000 is $3600. That's the amount the investor needs in her forex account to place this trade. This brings us to another key element of the forex market-- leverage. Leverage enables investors to control a large investment with a relatively small amount of money. In this example, the investor is able to control $120,000 with $3600. The leverage associated with currency pairs is one of the biggest benefits of the forex market, but it's also one of the biggest risks. Leverage gives investors the potential to make large profits or large losses. One more important element in the forex market is financing. This is the calculation of net interest owed or earned on currency pairs, and it happens when an investor holds a position past the close of the trading day. The US dollar is associated with an overnight lending rate set by the Fed, and this rate defines the cost of borrowing money. Similarly, each foreign currency has its own overnight lending rate. Remember, when you trade a currency pair, you're trading two currencies against each other. Even though the currency pair acts like the single entity, you're technically long one currency and short the other.

In terms of financing, you're lending the currency that you're long and borrowing the currency you're short. This lending and borrowing occurs the overnight lending rate of each respective currency. In general, an investor receives a credit if the currency he has long had a higher interest rate than the currency he is short. Conversely, an investor is debited if the currency he is long has a lower interest rate than the currency he is short. Let's look at an example. Suppose an investor has a position in the Australian dollar versus the US dollar currency pair. Say the overnight lending rate for the Australian dollar is 2% and the overnight lending rate for the US dollar is 1%. The investor is long the currency pair, which means he is long the AUD and short the USD. Since the AUD has a higher interest rate than the USD, the investor will receive a credit. However, if the investor was short the AUD/USD currency pair, he'd have to pay the debit because he's short the currency that has a higher interest rate. Financing is performed automatically by your brokerage firm. However, it's important to understand how it works and its financial impact on the trade.

As with all investment opportunities, the forex market has a unique set of risks and benefits, and education is the first step to determine if this is the right opportunity for you or you can get our services from MT4 trading experts. We have strength based forex dashboards for mt4 that can work on all forex pairs and suggests trading signals that will make profit for you.