AUTOMATED FOREX SYSTEMS -COMPARISON TABLE
What is an Automated Forex Trading System?
An automated Forex trading system is a combination of hardware and software consisting a Computer, a Trade Platform and a Programming Code (Expert Advisor) that plugs-in the platform. Such systems are designed to open and close long/short positions in the currency market without any human interference. All executed trades are based exclusively on the combination of a trading strategy and a money management system (MM), implemented as software code by the computer system.
Comparison of some of the most popular Forex Automated Systems in the World:
|
AUTO-TRADING SYSTEM |
DEDCRIPTION |
TRADE PLATFORMS |
KEY FEATURES |
PRICE AND WEBSITE |
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EA BUILDER -CREATE YOUR OWN AUTOMATED SYSTEM
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□ CREATE CUSTOM EAs □ EAs FOR TRADING FOREX, EQUITIES, COMMODITIES □ FREE FOR INDICATORS / PAID FOR EAs |
■ MetaTrader4 ■ MetaTrader5 ■ TradeStation |
□ Build custom Expert Advisors (Paid) □ Build custom Indicators (Free) □ No Need for Programming Skills □ Wide Range of built-in functions □ Create Alerts via Audio, Screen, and eMail |
■ Free for Indicators ■ 97.00 USD for EAs ■ Free Lifetime Access
» |
|
WALLSTREET EXPERT ADVISOR
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□ SCALPING FOREX □ 4/5 DIGIT AUTOMATIC TRADING □ by a team of pro traders and programmers |
■ MetaTrader4 ■ MetaTrader5 |
Scalping Currencies: EUR/USD, GBP/USD, USD/CAD, USD/JPY, USD/CHF, AUD/USD, NZD/USD □ Scalping the M15 Chart □ Risk Protection Mechanism □ Focus on Spreads and Slippage Control □ Can be used in 3 Real Accounts and unlimited Demo Accounts |
■ 299.0 USD ■ Omega Indicator Free
» |
|
FOREX DIAMOND EXPERT ADVISOR
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□ SCALPING FOREX □ 4/5 DIGIT AUTOMATIC TRADING □ by a team of coders |
■ MetaTrader4 |
Scalping Currencies: GBP/USD, EUR/USD, USD/CHF, USD/JPY □ Focusing on the M15 Chart □ High Spread & Slippage Protection □ Incorporates 3 algorithms (Trend / Retrace, Countertrend, and Scalping Algorithm) □ Dynamic Take Profit and Trailing Stop-Loss Orders □ Can be used in 1 Real Account and unlimited Demo Accounts |
■ 279.0 USD ■ Free Future Updates
|
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FAP TURBO 2 EXPERT ADVISOR
|
□ SCALPING FOREX □ LONG-RUN TRADING □ by Steve Carletti |
■ MetaTrader4 |
Scalping Currencies: EUR/GBP and EUR/CHF □ Scalping the M15 Chart □ Forex Brokers Stealth Mode □ On average 1-5 Trades per day □ Targeting Profits 6-10 pips |
■ 149.0 USD ■ Free Lifetime Updates
|
|
FOREX MEGADROID EXPERT ADVISOR
|
□ SCALPING EURUSD □ by John Grace and Albert Perrie |
■ MetaTrader4 ■ ZuluTrade |
Scalping Currencies: EUR/USD □ Forex Brokers Stealth Mode □ RCTPA Mechanism to trade any Market Conditions □ Adjusting Parameters to adapt to Volatile Market Conditions □ Focusing on Smooth Results |
■ 82.4 USD
» |
TIPS:
Generally, when selecting an automated system you must focus on several issues:
(1) The poven efficiency of the system (based on its historical performance)
(2) The ability of the system to adapt to new market conditions (you can test it on a Demo Account to find that out)
(3) The price you have to pay to own the system (in how many Real Accounts can this system be used?)
(4) What are certified traders (who used the system) have to say about it?
Note, that is always better to try building your own automated trading system than use a commercial system. Commercial systems are followed by thousands of people simultaneously and that is never good news.
MORE ON CARRYTRADER
| ■ COMPARE PROVIDERS | ► Brokers for Carry Traders | ||||||
| ■ CURRENCY PAIRS | ► EURUSD | ► GBPUSD | ► USDJPY | ► EURGBP | ► AUDUSD | ► NZDUSD | ► USDCAD |
| ■ GLOBAL MARKETS | » Gold |
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| ■ LEARNING RESOURCES | » Currency indices | » CBOE Indices | » Forex Fundamentals | » The History of Interest Rates |
□ Compare Forex Automated Systems
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