Forex trading robots have made forex trading easier for a substantial part of the retail trading community. These software programs take the help of forex signals to execute the trades on their behalf. While forex robots can be of many types, automated trading robots are the most popular. But many traders prefer to use mixed or semi-automatic auto clicker trading robots that will allow them to control some parameters.
Two forms of trading can be highlighted: Manual and Automatic. Manual trading is when a user manually opens and closes trades in the trading platform, whereas, Automatic trading, is when a software program executes repetitive tasks at speed orders on pre-set rules for entering 16 and exiting trades. To place a trade, algorithmic trading follows an algorithm that is a well-defined set of orders. There are a myriad of EAs or forex robots in the current market, with each appealing to a particular trading style.
While mixed trading robots are rare, we’ve compiled a list of four of the top forex expert advisors which are semi-automatic.
NCM Signal is a mixed forex robot that implements night scalping. It works with MetaTrader 4 on the M10 timeframe. The EA works best with GBP/CAD and is capable of producing annual profitability of 82%. The EA also provides myfxbook results that provide historical trading records. The EA applies a combination of 3 EAs and manual supervision. It works by the opening of the position according to the market direction, looking for a good entry and finally opening a position in the right direction. The EA also provides a maximum drawdown limit that controls it till a certain pre-defined point.
Night Owl EA
Night Owl EA is a mixed forex scalper which works best in the Asian session of the market. The system takes advantage of the markets when they are ranging. This is perfect for scalping and small market movements. Created by Wim Schrynemakers, the EA focuses on ranging market conditions and provides an overview of all the parameters they use. This includes max spread, max slippage, range size, trailing stop loss, take profit, stop loss, breakeven and time filter. The EA works on trading pairs such as EUR/USD, USD/CHF, GBP/USD, USD/CAD, GBP/AUD, GBP/CAD, GBP/CHF, EUR/CHF, EUR/AUD, EUR/CAD and AUD/CAD.
Night Eagle Scalper EA
The Night Eagle Scalper EA is a semi-automatic forex trading robot that employs a scalping strategy. In quiet markets, the price on the chart is always flat which is taken advantage of by this EA. It provides numerous filters to trade only during these flat periods. In addition to using stop loss and take profit, the EA uses smart filters for fixing the transfer of stops to profit. The strategy has been prepared by the developers after using historical data with a history quality of 99.9%. The EA works by recognizing changes in the economy. It then uses a dynamic system for changing the trailing stop. It strictly uses a stop loss for every trade.
Puli Longwin EA
Puli Longwin EA is a mixed forex robot that makes predictions using quantitative calculations combined with big data cross-comparison. The EA is known for establishing a good risk control mechanism that is suited for novice traders as well. After entering the market, it continues to calculate and track each new market quote and recalculate the change in the winning rate of the transaction. This makes it a high-end and sophisticated strategy.
Trading automatic and manually both have their own problems. When trading annually, traders must have a system composed of strategic and tactic approaches. While the strategic approach lies on the side of personal decisions, the tactical approach relies on a list of behaviour instructions for different possible market events. But manual trading is affected by risk, greed, emotions as well as tiredness. On the other hand, trading automatically requires some assurance from the dramatic changes of equity or some tactical adjustments of trading parameters of orders already set in the market. Many traders prefer semi-automatic trading robots like the ones mentioned above. They are a smart and contemporary solution that allows you to maximise the tactical performance of any kind of trading.