As many of you know, it may be challenging to find a trustworthy automated forex strategy.
That’s why departing our time and effort into our ongoing tasks are the building blocks upon which momentum and success derive.
To avoid half-completed jobs, we must exercise our cunning with available resources to see ends through.
This truth is evident in all facets of life, but especially in the investment realm.
More specifically, with EA trading.
With EA trading, a trader doesn’t have to know the markets’ ins-and-outs to make sensical business choices, although it certainly would help.
Instead, with a trustworthy and automated forex strategy, you can bridge that knowledge gap with actionable performance while learning how to become a better trader in the process.
That’s what we aim to provide you today; the actionable insight needed on how to pick a trustworthy automated forex strategy in 2020.
One such vessel used to achieve financial control of one’s destiny would be forex trading.
More specifically, forex trading with automated trading strategies on the well-renowned MetaTrader4/5 platforms.
Before we continue, here’s a glimpse of what’s to come:
Also known as automated trading robots, Expert Advisors can execute trades in your place while saving you time.
When you break it down, Expert Advisors are programs that employ the MT4 module, which helps traders monitor trades based on the parameters defined in the financial market.
EAs are quite common in the forex market.
Building Expert Advisors requires an individual educated in MQL (Metaquotes) programming.
Consider EAs to be the cruise-control of your trading accounts, saving you time and energy.
With EA technology, traders input a trend line on the chart, structure the EA with fixed trade sizes, have it abide by other programming laws (such as stop loss, take profit, double-up, etc.), and then go about your other responsibilities.
Well-coded Expert Advisors well will include strategy functionalities like:
Expert Advisors can be programmed to operate on auto-pilot or semi-automated.
A semi-automated EA will notify you of critical positions while an autonomous EA will notify, open, or close orders, and secure profits on your behalf.
Some pitfalls surround the substantial advantages of Expert Advisors.
Here are the main disadvantages of EA trading:
There is a fine line between having too little and many tools in a trader’s arsenal.
A well-programmed Expert Advisor caters to your trading style while possessing the backtesting tools required to perform its function.
Controversially, the removal of human emotions from trading is an advantage to most day traders’ minds.
However, removing instincts from the trading equation while ensuring that the EA fully interprets the market data is entirely different.
Finally, if you want your Expert Advisor to be operating around the clock, you’ll need to acquire a virtual private server.
A VPS will enable your EAs to operate even when your computer is offline or allow a mobile device to employ MT4 to activate your EA.
By hosting your EA on an external server, you will have untampered internet connection and trade capability.
Here is a list of the top 3 Virtual Private Servers as of 2020:
A trader should consider the following before dishing out cash on an EA:
Should a trader be unable to verify an expert advisor’s performance, it is best to avoid it.
Sometimes a third-party is used to verify trade execution and performance.
A common third-party in forex is MyFxBooks.
For instance, we have two successful Expert Advisors that are MT4 compatible.
The Ultima EA has generated a verifiable performance of more than 600% ROI since 2019.
Based on Mislav Nikolic’s system rules and Fibonacci indicator and Chris Svorcik’s SWAT strategy (a simple wave and fibs trading approach), the Ultima EA generated a substantial ROI with only a 5% risk per trade and full autopilot.
Mislav Nikolic is the main man behind the Ultima EA with support from our own Chris Svorcik.
Below are a couple of reviews we found regarding the Ultima EA:
Raducan – “Thought it was a scam. But still deposited $1k (05.02.2020), and to my surprise currently (16.02.2020), the balance of the account is 2+k. The elitecurrensea.com team is great, offers transparency, sincerity, and support.”
Tomas Vitko – “Ultima EA is a great trading tool introduced by Elite Currensea. The profits are really great. I doubled my account within 4 weeks time. The ECS guys are transparent about everything pertaining to the Ultima EA tool (i.e. risk, potential return, methodology, etc.).”
There are three rental options when considering the Ultima EA:
Averaging a monthly return of 15% since 2019, the Zeus EA uses a proprietary strategy that features complex monitoring, ultra-fast connectivity, and large scale performance.
Compatible with the MetaTrader4 platform, this EA has a minimum drawdown of under 20% and is ideal for risk-averse investors.
Elite CurrenSea is one of the main creators behind the Zeus Expert Advisor.
Well-suited for volatility, high-liquidity levels, and low international risks, this EA only trades with the EUR/USD.
Passing our transparency test, here are a few trader reviews we found:
Casaccia – “They taught me new concepts to read the forex market and respect its rules. Daily analysis to capture possible negotiable movements. Mandatory reading their emails 7 days a week.”
Andrey – “ECS offers what I didn’t find in any other advisors, blogs, experts, etc. – not just some “magic” trading system or market analysis but the holistic view and support for the trader – from beginner to advanced level.”
Ali Cirpan – “I have been a subscriber of Elite Currensea since April 2018. I am very glad about all the services, webinars and educational materials they provide. I appreciate all the great work they do.”
Traders can get the Zeus EA through one of two options.
First, traders can rent the EA with different periods via our partnered broker (using another broker makes the rental price go up). Or traders can start with no upfront fees or costs via the profit share module. Let’s first explain the 3 options for renting the EA.
Here are a few points that explain the key pros:
A common misconception surrounding EA trading would be that as soon as a trader employs them into their game plan, they expect themselves to be profitable from the get-go.
The reality is that it takes weeks to backtest an EA properly before trading live.
Other criteria that you should seek for choosing a winning MetaTrader4 EA include:
Remember, new EAs enter the market daily from both reputable and unknown entities.
Be careful who you decide to conduct business with and never rush into an investment on the prospect of rich returns with no testimonials, proof, and evidence on their behalf.
An adage to follow would be that if it sounds too good to be true, it probably is.
Scam marketers and con-artists prey upon those financially and emotionally vulnerable.
Before buying or trading live with an external Expert Advisor, make sure to conduct research.
Meaning, performing simple background checks such as a whois report to see when a website was registered compared to how old they claim to be.
Day traders may also research past trader experiences with those service providers.
To further reduce risk, traders can conduct paper trades to ensure that the system generates high probability signals instead of randomly selected signals.
Finally, make it a habit to seek out corporate information on the site then verify that the company exists on a national business registrar.
A few go-to places to seek company information would be on the site’s footer (bottom), the Terms & Conditions page, and a whois domain report.
Here is an actionable step-by-step guide for picking a winning automated strategy:
Gaining an edge with trading is beneficial to any level of trader.
Employing EA technology and automating your day trading through EAs is beneficial to novice and experienced day traders.
Knowing how to avoid automated trading scams in an industry thick of quick promises of rich reward makes it challenging to find legitimate investment opportunities.
Particularly so with wealth-building opportunities.
Arming yourself with an actionable guide on finding the most legitimate and compatible EAs is available in the text above. At the same time, our team of professionals possesses two of the best and longest performing Expert Advisors in the forex industry.
Team of Elite CurrenSea