What is Forex Trading?

Forex Trading Is one of the choices for everyone to make investments in the future. The difference with other investments, traders usually have a relatively short time frame than the investment itself. For that this time we will discuss forex trading. But before that, make sure you have joined GIC by downloading the GICTrade application on the PlayStore or AppStore and follow the GIC Trading Competition on the application!

How to Choose a Trading Robot to Provide Consistent Profits

If you are a trader, you will certainly be familiar with the term forex trading robot or what is often called an expert advisor. A robot commonly known as EA Forex has various functions that will later make it easier for you when trading in forex. For those of you who are still beginners or want to learn about forex trading, you must first know about the ins and outs of free forex ea and its various uses. This forex trading offers flexibility because it can be done with various trading styles, strategies that are also different and variations in the system that we can use. Currently, there are many free forex robots available 2020 and the latest ones for you to use. The biggest difference that can separate traders into two types is, they want to run trading manually, or those who run trading automatically, especially for traders who use automatic software to run forex trading. Although free trading robots are quite helpful, as a trader, you must be wiser in choosing a robot that has been tested properly. Before continuing to discuss the characteristics of forex robots, you can register as an IB Affiliate or invite friends and get extra money from GIC.

Characteristics of the Best and Tested Forex Robots

  1. Having a complete and good guide on how to use a free forex robot so that later its users will know about the effects on the time zone, selection of time-frame, minimum funds, percentage of funds that must be spent and so on.
  2. Trading robots that have been tested using data from several years ago are in the range of 1-2 years.
  3. Free or paid forex trading robots can be said to be good if they have been tested for more than two years. Therefore, you must be more careful with trading robots that can later provide profits in just a matter of months.
  4. In free forex robots 2019 or forex robots of any year that have different characters will be prioritized, forex robots that have complete user guides.

Tips for Choosing a Forex Robot You Should Know

Here are some things you can do to choose and use a good and correct forex robot or free EA for consistent profits:
  1. Use the best trading patterns, such as trailing stop, stop loss, take profit, etc.
  2. Use proper and good financial management. Such as providing how much lot size is currently being opened in each transaction, the amount of funds limit that is being wagered if it fails, etc.
  3. Has a complete and good guide to using forex robots.
  4. Forex robots have previously been tested using current data or data from several years ago.
  5. Forex can be used for a method called scalping or martingale, this is done because not all brokers allow the use of such an aggressive trading system.
  6. Don't be easily tempted by promotions that will often be offered
  7. Digging deeper into information related to the trading robot.
  8. Pay attention to testimonials from traders or investors on one type of forex robot.
After knowing the tips for choosing a forex robot, make sure you take the Preliminary Test so you can find out your own trading skills.

Various Weaknesses of Forex Trading Robots

You should also know that there are several weaknesses that Forex Trading Robots have:
  1. Quite High Costs The more sophisticated an item is, the higher the cost it will require and only then can the device be said to be sophisticated and multi-tasking.
  2. It requires special skills in making settings, even though the robot will later carry out trading automatically, but as an owner you must have knowledge related to trading issues and also the programs that will be designed.
  3. The existence of this deficiency is to be able to better adapt to various specific market conditions. Therefore, for a trader must be able to adjust to the various impacts that are quite large from a fundamental news at the time of his trading schedule or be able to control it.
  4. Not all brokers will be able to grant permission to use forex trading robots because if many use forex trading robots, it will result in the broker's server being more burdened with long queues in its market orders. So that it can cause the broker's server to experience a lag to freeze.

How to Make Your Own Forex Robot Very Simple

If you want to create a trading robot independently, there are several things that must be prepared first. If you want to experience trading with a robot, there are two ways to get trading, the first is to make it yourself using the condition that you have mastered the language in programming.
  1. First, open the MT4 program you have, then click on the tool menu 🡪 click Metaquotes Language Editor.
  2. When the Metaeditor program opens 🡪 click on the new menu or use the CTRL + N combination to create a new sheet and a dialog box will appear. Then check the Expert Advisor section 🡪 Click Next.
  3. Fill in the data related to the data provided regarding your robot 🡪 click finish.
  4. Next, write the program script for the EA that you will create later.
  5. Click save, then you can test the robot you already have.
As much as possible you should be able to be more active in order to be able to follow the discussion in the trading forum that you are following, because from there you will have various information related to trading robots and also about the best EA robots. Keep monitoring the forex robot that you already have, never get used to submitting it entirely to the transactions in the forex robot that you have. If you want to learn more about forex trading, especially for forex robots, then the way you can take is by joining a trusted trading community that can provide you with knowledge related to forex trading. The thing that must always be remembered is that special Forex Robots cannot adapt or build sensitivity to the market, and of course will always follow the rules that have been input. If later there is a sudden change or anomaly in the market, then the robot can fail if it produces according to your expectations. Trading using a robot does not mean that you can always be successful if there is no learning at all. Everything must first be studied properly in order to get maximum results. Therefore, it would be better to improve your skills and knowledge related to forex robots and how to repair the robot periodically.

Advantages of Forex Trading

Forex, or people also know it as Valas, is one of the instruments in investment or trading that is known to have risks for traders who are involved in it. This does not reduce the interest of traders to carry out forex trading activities. There are many reasons why many people are currently looking at forex trading as a source of additional income or main job. Forex is indeed a type of investment instrument that can attract the attention of many parties, both investors and the public in general. Here are some of the advantages of forex trading when compared to other investment instruments.

  1. Have Very Flexible Time Because It Can Be Done Anytime

In this Forex market, transactions are carried out on a global scale. This is very different from other financial markets, such as stocks that are only open based on regular working hours, this forex market is open 24 hours a day, only for Saturday and Sunday the market is closed. The opening of trading hours 24 hours a day, 5 days a week, means that as a forex trader, you can set your own trading time. If you prefer to work in the morning because you have another main job then there will be no problem, you can trade forex at night. Conversely, you can trade forex during the day when you are already busy with work at night. If you want to specialize in trading only at the most profitable times, then you can choose the time and forex trading hours that are best for you.

  1. Have Low Transaction Fees

There are other factors that can make forex the most suitable instrument for investors with limited capital. Business competition between these brokers makes the commission costs of trading lower and more competitive. Usually the cost charged by a forex broker is the spread. The difference between the bid and the ask price. The spread in the forex market itself also tends to be slightly or tighter when compared to the spread applied to stocks. This makes forex trading one of the most effective ways to invest. With the internet, we also have the freedom to choose a forex broker with the lowest trading costs or spreads with sophisticated trading software facilities as our connection to the forex market.

  1. Has Forex Learning Facilities that are provided for free

Forex brokers usually provide trading facilities in the form of a demo trading account. Using this system, anyone can learn and practice exactly like real forex trading and without the risk of loss. The funds that will be used in the demo account are only virtual or play. This facility is provided free of charge by brokers. If you later lose in a demo account, you do not have to replace the money, if you win you will not be able to cash it out. This demo account is specifically for trading beginners who want to practice and learn first before jumping directly into the world of forex trading.

  1. Can be done anywhere and anytime

The advantage of forex trading is its very flexible nature. Forex trading is an activity that can be done using an online system. Transactions can also be done using a computer, laptop, tablet, or just a smartphone. Traders can also make transactions using applications provided by brokers. With the internet, forex trading is now very affordable and can be done anywhere. This is the advantage of doing forex trading, the requirements of which are only, having an electronic device, having installed the application provided by the broker to do trading and having a good and adequate internet network to do transactions online. You can get these advantages if you do forex trading yourself. In addition, be sure to fill out the internal survey to help GIC develop a better platform.

Risks in Forex Trading

Basically, the risk of forex comes from volatility, leverage, forex brokers, and from the trader's personality. Those are the risks in forex that you really need to know:

  1. Leverage Risk

Forex trading generally utilizes the Margin Trading system. Margin Trading is a system that allows traders to trade using only collateral. Broker will offer leverage to increase margin funds into much larger trading funds. Traders also have the potential to make large profits with small capital. As in the example above, traders only need to deposit a margin of US$100 to be able to make transactions with a fund strength of US$10,000.

  1. High Volatility Risk

Forex traders generally only profit from the price difference that has been obtained at the time of purchase and sale. This difference is usually called Capital Gain, when the currency to be purchased experiences a price increase, traders can make a profit. In its movement, the value of forex will continue to increase and also decrease depending on the demand and supply that is happening in the market. The distance that always goes up and down and also the price movement is called Volatility. It must be remembered, forex is an investment instrument that has quite high volatility. The volatility of the price that is always moving can be utilized by traders to get profit, but on the other hand, this can be a double-edged sword. Not only can it provide profit for traders, it has the potential to cause losses for traders and this is often referred to as volatility risk. Money that has low volatility is much more difficult to trade. Conversely, if the volatility is greater the volatility of the currency price, the greater the potential for profit and also the risk of the currency. The greater the volatility, the greater the risk of Capital Loss. Most instruments that transact in the forex market have quite high intraday volatility, which can lead you to losses. That's why you have to be careful when transacting in forex. Always try to use funds that are not used for daily needs. If later on your financial flow is not really healthy, it is better to cancel the intention to trade and start building a healthier money habit. Trading cannot be done carelessly because it can make you experience big losses. To avoid making mistakes in taking steps, do a Trader Assessment so you can consult your trading strategy with the experts.