Forex Festival

I see very often different EAs being created to trade on any currency pair. However, they are never created or perhaps tested on all pairs. Usually there’s only one currency pair and it’s created and tested on that. But traders still use it on different currencies and see very different results. I believe it only makes sense to have a EA created for one pair and trade with it on that one special pair all of the time.

That is what Forex Brilliance review creators think too and they have created a suit of robots that trade on explicit currency pairs. There’s no confusion in regards to what to trade it on and whether it should work better on one pair or another. I suspect more developers should use this practice.

Not just that, when you’re trading manually, you need to consider that for your manual system also. It is a matter of probability, after you test and tweak a system on one currency pair, it’s likely to perform better on it. Naturally, I do not say that there are no systems that are universal, but it is’s a lot more difficult to make and run such a system.

There are two important terms in foreign exchange trading – short term and long term trading. What are they and how they’re different? Obviously, short term trading is riskier because with this technique a trader makes more trades. The key is quicker profits. On the other hand, long term trading is more thought out, there are only one or two trades per month and it is a lot accurate. However, there’s a lot less profit potential because there are even less trades. Currency exchange trading systems like Forex Ripper, however, try to take advantage of the both.

Nobody claims you have got to only use one method. You can trade in both, short and long term. What that does is enable you to get fast profits in short term, but also be profit-making in the longer term. It’s really important to balance those strategies out. Because the near term system is much riskier, you have to take that into account. You must mange the danger so that the near term losses don’t wipe out your long term profits. Consider the long term strategy as your principal strategy and figure out how much you can afford to lose in short term.

You’ve read it right, the headline says one currency, not a pair. Most often currency exchange traders target one the pairs, but they miss a lot of good trading positions on other currency pairs. There is a middle ground and it’s possible to focus on one currency of several pairs.

Certain Forex EA creators have made a decision to do exactly that and created GBPBOT. This Forex robot works on the GBP and its pairs. The benefit that it gives won’t be immediatelly apparent, though. Naturally, traders are used to trade the pairs and not single currencies (that doesn’t even sound correct), so why target one now?

The answer lies in the idea of link between different currency pairs. You see, the pairs where the same currency is involved are linked and act in a similar way. That is to say, if one pair is moving in one direction, others with the same currency might be moving in the same direction too. But that won’t be that obvious so we use that link. And you can see where it’s handy for forex trading EA development.

Here’s something unusual:

USDBOT is a 2 in 1 EA for two currency pairs – EUR/USD and USD/JPY. The system is built around a strategy of a group of veteran foreign exchange traders, which has taken them years to perfect. The program was built using the adaptive neural network technology which takes into account common trading strategies in addition to its own. Thus the program is able to adapt to different market conditions or trends…

I do advise you checking it out.

Here’s something unusual:

Pip Android is the “most intelligent FX system” that promises remarkable accuracy and profitability. Most importantly, it will show live trading results to back up its accuracy, once it goes live.

Pip Android’s main features:

Provides live results updated every 10 minutes.
Trades in different market conditions (ranging, sideway, choppy, and trending markets)…

It seems to me that this Forex software is be interesting.