Can you make money with a trading robot?

While most forex robots do ‘work’ in the sense that they are programmed to automatically carry out trades, unfortunately, they are not foolproof so they cannot provide any guarantee of long-term profits. At best, they are a useful tool which can be used by forex traders to help make informed trading decisions.

How much can a beginner forex trader make?

An average currency fluctuation may go up to 80-100 points in a day based on the volatility calculator. So, you can make money from such fluctuations in any direction! According to surveys, beginner traders earn 100 points a day on average, making 10 USD per day.

Do I need a license to trade forex for others?

If you’re not investing or trading money belonging to other people or organizations, there’s no need for you to be licensed. Anyone can trade forex simply by signing up with a forex broker, provided you’re of legal age and reside in a country where forex trading is legal.

Is robot trading is good or bad?

Automated trading can be a beneficial and profitable skill to have, but typically this skill can’t be purchased for a few dollars on the internet. Automated trading takes a lot of work and skill. To effectively create and maintain an EA, a trader needs both trading and programming knowledge.

Can you have 2 forex brokers?

Forex brokers offer you three lot sizes to trade. Mini accounts are more than just an inexpensive way to test different trading strategies. You can trade two mini accounts by using one account to enter your trade and the other account to hedge your first trade should the market move against it.

Is it illegal to trade forex for someone else South Africa?

But overwhelmingly, the straight simple answer is YES, it is legal to trade forex in the jurisdiction of the Republic of South Africa according to the FSCA. Before we delve into whether Forex trading is legal and where it is not, let’s take a look at why Forex has become extremely popular.

What is Forex robot trading and how does it work?

Forex robot trading is the use of pre-programmed software which allows you to automate Forex trades. There are many different versions of this software in operation all designed to help you to make money from Forex trading without having to trade manually.

How to be a profitable forex trader?

Profitable forex trading and your success as a trader greatly depends on a high level of discipline. A well-thought-out strategy will always help you to avoid emotional trading and behavioral biases. In general, to profit from trading forex, you need to buy low and sell high.

Do forex scalping robots really work?

Experience has shown that automated trading only really works within a tight range. Also, the presence of a well defined trend is a major plus. Auto trading profits generally only amount to a few pips. Provided the conditions are right, forex scalping robots can be quite successful.

What are the advantages and disadvantages of FX robots?

The advantages of forex robots are clear. If you have a mechanically repetitive trading strategy set up, that actually works, you will be able to have your robot trade for you 24/7. FX robots take the mechanical work out of the forex trading equation. They cannot however help you any further.

https://www.youtube.com/watch?v=3Q3qQQoTm4w