General Forex Questions
What is Forex?
The Foreign Exchange market, also referred to as the "FOREX" is the largest financial market in the world,
with a volume of over $2 trillion a day.
If you compare that to the $25 billion a day volume that the New York Stock Exchange trades, you can easily see how enormous the
Foreign Exchange really is. With a Forex broker and Forex trading account, anyone can trade the Forex market.
What Tools Do I Need to Start Trading with Forex Robotron?
An STP/ECN Forex broker trading account, MetaTrader 4 trading platform, a computer with an internet connection or virtual private server for remote trading is all that is needed to begin trading with Forex Robotron.
We provide full detailed instructions so no advanced Forex knowledge is needed.
What trading software do I need to run Forex Robotron and where do I get it from?
Forex Robotron is designed to run on the Forex trading platform MetaTrader 4 from builds 600+, which is offered by many of the leading Forex brokers.
MetaTrader 4 can be downloaded for free from most brokers websites, usually via a "download trading platform" link. If you are using an outdated version of MetaTrader then you can easily update via an MetaTrader download link on your brokers website.
What is a Forex robot?
A Forex robot (also called expert advisor) is an automated robotic script written in MQL4 language that can work in the MetaTrader 4 platform and place/manage trades for you!
MetaQuotes Language 4 (MQL4) is a language for programming of trading strategies. This language allows you to create your own Expert Advisors that make trading management automated and are perfectly suitable for implementing of one's own trade strategies.
Can Forex Robotron work when I am away or go out?
Yes, it can work 24 hours/day for you.
You don't need to monitor the trades if you don't have enough free time.
Forex Robotron will monitor the trades, open orders and close positions for you when needed.
Just keep your MetaTrader on to let Forex Robotron make you money!
Getting Started With Forex Robotron
Do I have to trade manually? Is it difficult to setup Forex Robotron?
No! All you need to do is setup Forex Robotron on your MetaTrader platform and let it trade on your account to bring you profits!
You will get step-by-step instructions including screenshots on how to setup and run Forex Robotron on multiple currency pairs, including currency pair pre-set files.
Will it work on my broker?
Yes, provided your broker offers the MetaTrader 4 trading platform.
Forex Robotron is compatible with US brokers, Non-US brokers and Islamic friendly brokers. It will automatically adjust to work on 4 and 5 digit brokers.
Forex Robotron requires an STP/ECN broker for quality execution. Quality of Execution is often overlooked, difficult to measure and due to some clever marketing campaigns many of the terms are generally misunderstood.
a. ECN (Electronic Communication Network)- This is a system of aggregation used to identify fair market value and execute trading requests, it is not a type of execution. Depending on the sophistication of the system it may be used for hedging activity with large banks, brokers or allow for netting of trader activity in the network.
b. STP (Straight Through Processing)- the Broker is the counterparty but offsets the trade to its ECN for final execution, and the bid/ask spread is marked-up to cover associated trading hedging costs and broker profits.
c. DMA (Direct Market Access)- the Broker is the counterparty but offsets the trade to its ECN for final execution, a commission is added to the traders account to cover associated hedging costs and broker profits.
d. MM (Market Maker)- the Broker is the counterparty, highly regulated, well capitalized with sophisticated risk management tools and strategies designed to reduce risk of loss. It uses its balance sheet to allow traders to net off of one another thereby reducing latency and hedging costs.
e. B/S (Bucket Shop)- the Broker is the counterparty, loosely or unregulated, under-capitalized and risking its clients' funds, or worse yet using the funds to pay for its bills or vacation home.
STP and DMA are either agency or middleman models. The netting is Bid to Bid and Ask to Ask meaning the cost of execution includes the LP's spread. By nature they have longer latency periods and negative slippage for the trader as compared to MM. The execution requests, make a minimum of 4 hops; (1) Trader to Broker, (2) Broker to LP, (3) LP back to Broker, (4) Broker back to Trader. If the LP rejects the request, steps 2 and 3 are repeated until filled, this will likely result in slippage against the trader. The execution relationship that a broker has with a Liquidity Provider (LP) is known as FOK (Fill or Kill) which means; fill at the requested price or reject the request. When the LP receives the trade request, it holds it for a period of time, usually less than 100 milliseconds, to check the requested price against what it considers to be fair market value (FMV); if the requested price is equal to or in the LP's advantage over the FMV it will fill the request; however, if the requested price is at a disadvantage for the LP, compared to the FMV the LP will reject the request. This means the trader will always be filled at or worse than, the future FMV price. This model reduces the risk of loss for the Broker but increases the overall trading costs; the broker is paying the LP's spread, any associated technology and Prime Brokerage fees.
Market Maker is a principal model. The netting is typically Bid to Ask and Ask to Bid. The execution requests make two hops. (1) Trader to Broker, (2) Broker back to Trader. It reduces the overall trading costs by netting one traders Bid against another traders Ask and thereby reducing associated hedging fees and execution latency.
ECN brokers are built on a five decimal precision ECN framework; they aggregate prices directly from multiple teir-1 liquidity providers only. They do not include any middleman or agency price redistribution counterparties. It has a sophisticated real time risk management system and offsets transactions and or exposure as needed. It offers STP, DMA, or MM execution services. When acting as a MM ILQ does not introduce a delay in its execution. The trade request is filled at FMV as soon as it is received, or in the case of resting orders at the initiating tick. ECN brokers do not engage a-symmetrical slippage practices, in the case of market gaps they pass along any price improvement or deterioration.
What size spreads are required?
Forex Robotron works best with a spread of no greater than 3 to 5 pips on the currency pairs that it trades. Some currency pairs have different maximum spreads than others.
It includes a maximum spread filter to avoid trading when your broker spread is greater than the recommended maximum required on a currency pair.
If the current market spread is greater than these values which are set in the maximum spread filter then Forex Robotron will not open a trade.
How much money do I need to start trading with Forex Robotron?
Depending on your broker terms, you can start trading with as little as $50.
Most brokers will allow you to open a demo account with a small deposit for you to trade mini/micro lots.
Forex Robotron can trade on accounts of any size.
Will Forex Robotron work on a small account?
Yes! Forex Robotron can make you profits trading from even a modest deposit of $50.
Is it hard to use Forex Robotron?
No! Once you have purchased Forex Robotron you can set it up to start trading automatically for you in just a few minutes.
We provide easy, simple to follow instructions with screenshots and 24/7 support. You can also use the free setup service that we offer.
Can I adjust parameters of the Forex Robotron advisor?
All of the settings can be modified in the Forex Robotron properties.
This allows you to set your own settings and to test various settings - see customization.
You can also specify the risk as a % of account free margin (or use fixed lots),
the hours that Forex Robotron trades, the stop loss, take profit, maximum slippage, maximum spread,
magic number, expert name, open orders limit and entry/exit triggers. If this sounds too confusing for you, don't worry! Forex Robotron includes pre-sets for the
currency pairs it trades on so you don't have to worry about any of it, just load Forex Robotron onto your charts as explained in the instruction manual
and it will take care of the rest.
What timeframe(s) and currency pair(s) should I choose?
Forex Robotron provides multiple currency pair pre-set files for the m1 timeframe. You can optimize Forex Robotron on as many currency pairs and timeframes as you wish
but our thorough testing has showed it performs best on the 5 minute charts of the currency pairs that we provide the pre-set files for.
Forex Robotron primarily trades between the close of the US trading session and the opening of the Asian trading session to take advantage of the low volatility and make enough profit so that it does not need to trade in other time zones.
What time of the day do I need to run MetaTrader 4 when using Forex Robotron?
Forex Robotron places trades between 21:00pm and 24:00pm GMT/UTC but can manage the trades it has placed outside of these hours.
It is therefore neccasary to leave Forex Robotron running from the weekly open all the way up until the weekly close.
We recommend that you leave it running at all times (24/7) to avoid missing any active trading times. If this is not feasable for you then you may need to utilise a virtual private server (Forex VPS) which is explained below.
Specific Forex Robotron Questions
What is Forex Robotron?
Forex Robotron is a fully automated robot software which trades the foreign exchange currency market (Forex) on autopilot 24 hours a day.
Robots such as Forex Robotron are called "Expert Advisors" or EA's, and are attached to the currency charts in the MetaTrader 4 trading platform
software which is provided to Forex traders by Forex brokers.
Forex Robotron was extensively researched and programmed by a professional programmer and Forex trader. Thousands upon thousands of hours' worth of work has gone into making it the best Forex robot commercially available.
What is the percentage of winning trades?
According to our results from 1999-Present, Forex Robotron consistently makes money with a good volume of trades, sensible risk to reward ratio and a high win rate of 70% to 80%.
I do not like the "no stop loss idea" in other Forex robots. How about that in Forex Robotron?
Forex Robotron uses a "safety" stop loss which is rarely hit as the majority of trades are closed out by indicators before reaching the stop loss.
Similarly, the take profit is set high as the indicators will close out a trade before it is reached.
Advantages of the safety stop not being hit is that losses are less than expected whilst the gains are still good and the system is not as "rigid" as it may be with
fixed levels, so it can therefore adapt easily to the current and constantly changing market conditions using indicators rather than fixed levels.
A great number of additional safety filters and indicators are included in Forex Robotron to prevent trading in risky conditions and limit losing trades.
Forex Robotron is also non-martingale so it does not need to risk high amounts of your account to make good profits.
Does my broker require any minimum stop levels?
Some brokers require you to place the stop loss and/or trailing stop a minimum distance from the current price. This does not affect Forex Robotron as it does not use a very tight stop loss or trailing stop.
Should I Trade on a Demo or Real account?
We recommend that you try Forex Robotron on a Demo account first to understand how it works and what you can expect.
We do not recommend trading on a real account without testing it on demo first as you need to have some understanding of the settings and what works well for you.
Once you are happy with the Forex Robotron results you can then switch to a live account.
We provide you with demo and live account licenses that you can change at any time.
Can I use Forex Robotron on more than one account?
Yes, you can use it on as many trading accounts as you wish.
We provide you with 1 live account license and 1 demo account license free of charge but you will need to purchase additional licenses for any other accounts that you wish to use Forex Robotron on.
Why is Forex Robotron not performing as advertised?
Forex Robotron requires a broker with a recommended maximum spread of no more than 3 to 5 pips (depending on currency pair) on each pair that it trades.
There is a maximum spread filter for opening and closing trades which will prevent Forex Robotron from opening or closing spreads if the current spread is too high..
If you are not getting satisfactory results then the most likely reason is your broker does not provide the spread required.
You should therefore shop around for an STP/ECN broker with better (lower) spreads during Forex Robotron trading hours.
Another reason is slippage which can cause a trade to be delayed when it is executed.
Forex Robotron does include a maximum slippage filter to avoid such a situation but you should be using an STP/ECN broker with instant execution.
Finally, there may be a period of time when Forex Robotron hits stagnation which is normal with any trading strategy whether manual or automated.
Patience is an important characteristic required to be a successful trader so you should keep the faith in Forex Robotron during times of stagnation.
Losses are a part of any trading system so please do not panic if you suffer a few losses.
What is a Virtual Private Server (VPS)?
A VPS is a special service that can host your trading on a remote server so you no longer need to keep your PC on 24/5 for trading!
There are Forex VPS providers who specialise in Forex and can provide this service for you to use to run Forex Robotron without needing your computer on all of the time.
This is not a requirement but can be useful to some when it is not realistic to leave your computer running all of the time.
If you decide to purchase a Forex VPS we can help you setup Forex Robotron to run on it.
Guarantee and Support
What if I am not happy with Forex Robotron?
From the moment you purchase Forex Robotron, your purchase is protected by our 8-Week (60 days) Money-Back Guarantee - that's a full 60 days trial!
If for some reason you decide that Forex Robotron did not perform as expected or just isn't really for you, then simply contact us for a full refund.
Please note that if you do request a refund your Forex Robotron license will be deleted from our servers and you will no longer be able to use it.
Do you provide support?
We provide rapid dedicated email support to all of our users. We aim to reply within 24 hours, excluding weekends.
Support can be anything from setting up Forex Robotron for you for the first time, changing your license to another trading account, explaining settings and much more.
Feel free to contact Forex Robotron if you have any questions or if you need support.
Does Forex Robotron get regular updates?
Forex Robotron took years of programming and testing to ensure that it was robust and adaptable to any market condtion.
If we or any of our users identify room for improvements then we will update Forex Robotron and ensure all users have the most up to date version.
Is Forex Robotron Legal?
Yes, of course! Forex Robotron is 100% legal! Forex trading is legal in the United States and other countries.
Furthermore, Forex Robotron does not use any arbitrage, basket, grid or hedging techniques.
I have another question...
We would love to hear from you! Please use the contact link below and we will try our best to get back to you within 24 hours, excluding weekends.
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