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 a Forex Robot?
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.
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. 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 candle 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. You can use the ADX indication to filter out transaction how to make money with a trading robot occur in sideways markets. The ADX measure the volatility and trendiness of a currency.
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You can determine the time of day you want to allow the EA to open deals You can determine the Day of the Week you want the EA to open deals. You can even change the direction of the trades so that the EA will trade in the opposite direction. 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 options trading intraday, any time-frame etc.
Anybody who has purchased an Expert Advisor will tell you that they never experience the same results as advertised.
Who is behind the Make Money EA?
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.
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 how to make money with a trading robot load setting quickly and efficiently. Technical how to make money with a trading robot 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 binary options deposit bitcoin 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. The latest update is reflected above. Welcoming process When you purchase the EA you are redirected to a General Expert4x Welcoming webpage giving you guideline on getting the best out of your EA.
On this page is also a video that will show you the process of start trading in the quickest possible way by loading the EA and settings quickly.
New to Forex robot trading ?
During these meetings you can ask any questions you want plus the expert can dial into your computer and actually help you with activities such as setup problems or assistance with settings. This is a paid service.
What is a forex robot? With a push of a button, the forex robot runs continuously, making trades signaled by mathematical algorithms applied to past price history.
However to help you find the best settings were provide 2 main sources of information regarding settings for Forex and Index Trading: We have over 30 optimised Forex settings setting what worked best in a recent 12 month period covering the 10 main trading currencies and 3 timeframes and a further 18 optimised Index settings covering main indices and 3 timeframes which you can access and download for all our set and forget EAs. These FREE settings are downloadable from the EAFactory website from the product information page on their website after your purchase.
You have to register as a forum member.
What Are the Best Forex Robots and Do They Really Work?
Past performance shown on this page and in videos may use aggressive trading approaches and risk management to prove the potential of the Forex robot over long periods. Because of this we recommend that you test the EA on your own broker account using many variations of currencies, time frames and settings to make sure you experience favourable results in current market conditions before trading live accounts. Tips on getting the best out of the Make Money Expert Advisor 1.
See how the MakeMoney Trading robot trades $1 000 to $12 Mil in 6 weeks on actual MT4 Charts
Use position sizing of 0. Test as many currencies and timeframes as your computer resources allow.
Know the function of each setting as described in the user manual. Study this marketing page and watch all the videos provided. Learn how to download testing set files Video on this page. Learn how to calibrate and optimise the EA for your broker account Video on this page 8. Make sure you know the basics of Forex trading by doing the free courses on this page. Learn how you can trade with limited funds using 1c accounts.
Are Robots the Secret to Making Money in Forex, and Do They Really Work? | Foreign Exchange Live
These accounts treat cents as dollars. This allows you to trade all Forex robots with relatively small amounts capital. Forex Trading is dangerous and can result in a substantial loss of money.
Due to the uncertain nature of the Forex market, there is no guarantee that our products will produce any favorable results. Each purchase comes with 2 licences for use on any 2 computers of your choice. You can use the EA as often as you like on those 2 computers.
Different types of forex robots
More licences are available on request. The Make Money EA is unique and uses entering on the close of candles in a trend to create the multiplier effect whereas the Grid Trend Multiplier uses a grid approach. The GTM is a trading tool for more experienced traders where the trader determines entries whereas the Make Money EA is a set and forget EA that makes trading decisions for the trader.
Stops and targets are more flexible with the Make Money EA. His success was actually based on increased lots sizing in trends and filtering times to be in the market or not. Stops and targets are determined in other ways by the Make Money EA. The new EA has many more features for continuous trading built in.
This EA actually determines the entry and exit points for the trader on a continuous set and forget basis. It will stop opening deals if market conditions are not good. My experience is that EAs can't adapt to changing market conditions. Am I wrong with this? Yes, you are right. This EA however only opens trades in trending markets.
All Moving Averages have to point in the same direction and the ADX indicator must be at trending levels. These filters are essential to the success of this great EA.
Are Set files provided for the settings to be used? We do provide set files.
We do also provide the test setfiles clients can use for the back traded results which traders can copy and create their own set files. These settings worked well in the past and, how to make money with a trading robot always, nobody can guarantee that they will work into the future. The default setting are not usable as they do not take the timeframe, currency and broker account the trader might use into account.
You do however need to personalise settings provided to your own broker and broker account anyway. That is the best way of aligning your broker account with the EA.
The top Forex robots
See the video provided in the marketing material. Does the Make Money EA use the multiplier concept?
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Yes it does use the multiplier concept.