{"id":9724,"date":"2023-02-04T22:43:37","date_gmt":"2023-02-04T21:43:37","guid":{"rendered":"https:\/\/botvesting.com\/?p=9724"},"modified":"2023-02-04T22:47:14","modified_gmt":"2023-02-04T21:47:14","slug":"forex-robots","status":"publish","type":"post","link":"https:\/\/botvesting.com\/en\/robots-de-forex\/","title":{"rendered":"What you should know about Forex robots"},"content":{"rendered":"
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Introduction to Forex bots<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Well, let's start at the beginning to make sure all the concepts are clear and you know what you are doing.\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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What is a broker?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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A broker is a person or institution <\/strong>that organizes transactions between buyers and sellers -an operator or trader- and a financial asset of one of the existing markets. Although the subject is very broad, we are interested to know that there are institutions or companies where you can buy and sell shares or other financial products, such as currency pairs in the Forex market.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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\n\t\t\t\tSimply put, to trade in the market we have to use one of the many brokers available.\t\t\t<\/p>\n\t\t\t\t\t<\/blockquote>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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How to trade in a broker?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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When we trade with a broker, basically what we are doing is buying or selling something, in this case, that commodity we are going to call EURUSD - Euro vs US Dollar pair.<\/p>\n

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Brokers usually offer the possibility to perform sophisticated operations such as buying when the price has a certain value, selling if we have X profit or a certain loss... Or the other way around! We can also sell when we do not have the asset and buy it when it has fallen in price. With the combination of these operations of buying and selling is how you can make a profit whether the price goes up or down.<\/p>\n

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Winning \"only\" depends on<\/strong>: your knowledge, your psychology, your skill, your practice, your experience, your ability to concentrate, to observe, to measure the impact of macro and microeconomic changes, to have soaked in technical and fundamental analysis and to know how to apply it, the knowledge of the correlation between markets, the risk management you do, the mathematical expectation of your operations, that you have a reliable, proven system with a positive mathematical expectation or that you have a set of systems that minimize your losses and increase your profits, the graph of the financial asset you are investing in, its past behavior, volatility, etc. Do not panic<\/strong>.<\/p>\n

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This and much more is what a market professional knows, internalizes and automates. It is his job and we are not going to ask you to make it yours, at least in this tutorial.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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What is a bot, Expert Advisor or Expert Advisor?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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A bot, robot, Expert Advisor, EA or Expert Advisor is a computer program. With greater or lesser complexity, it is software that makes buying and selling decisions. When a person uses a bot, what he is doing is telling the program to buy and sell for him. Bots are continuously reading the market and making decisions as events occur.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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\n\t\t\t\tA bot, in essence, is a program that makes buying and selling decisions for you.\t\t\t<\/p>\n\t\t\t\t\t<\/blockquote>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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A bot, Expert Advisor, robot or Expert Advisor, allows to automate part or all of the decision making process when trading in the financial markets.<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Bots, or automated investment programs, can become very sophisticated. Bots can be aggressive, conservative, seek maximum profit or find patterns in the market, among many other things. They can perform highly complex calculations and make decisions in milliseconds. In addition, they have the advantage of being able to watch the market 24 hours a day, they are not stressed by it and make their decisions with total coolness.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Open a brokerage account<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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In order to use a Forex trading bot, the first thing we need is access to the Forex market. So our first step is to sign up with a broker. It is as easy as clicking on this link registration at RoboForex<\/a><\/strong> or in the banner below.<\/p>\n

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The broker is the \"place\" where we can trade with our money, buy and sell. As we have already said, the brokers -or brokers<\/em>- are the companies that are going to give us access to the financial markets. You trade and they take commission on your trades.<\/p>\n

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Each of the existing brokers has its advantages and disadvantages, but this is not the subject of these articles.<\/p>\n

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In our case, we will use RoboForex, a broker duly regulated, with sufficient time in the market and with very suitable conditions for the type of Expert Advisor we will use.<\/p>\n

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To trade with a broker, it is necessary to open an account with him. There we will deposit the money to work with when we feel comfortable with the bot and we have understood how it works.<\/p>\n

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To trade with our Ducibus Forex trading robot, you must open an account with RoboForex with an affiliate code from us.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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What is a broker's affiliation for?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Membership has several objectives, the main one of which is that we we have to eat<\/strong> and believe me, we are gluttons. Being our affiliate assures us that when you are trading in the market with our investment tool, the broker will be paying us a fraction of their profits for the mere fact that you are trading with them.<\/p>\n

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Our current conditions for trading with Ducibus imply that the accounts that users of the free forex robot trade under our affiliation<\/a>.<\/p>\n

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Affiliated Accounts VS Spread Enhanced Accounts or Referral Accounts<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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There are different types of account affiliation. Depending on the use of one type of account or another, we will be paying the broker more or less commission for each of the operations that he provides us with in the market.<\/p>\n

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On the one hand, there are the affiliated accounts we use <\/strong>with our Ducibus bot users: the Pro-Cent and Pro-Standard. These affiliated accounts do not pay any extra commission for trading with them. In other words, the broker will charge you the same for using an account, whether it is affiliated with us or not.<\/p>\n

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On the other hand, in order to make the intermediation between the broker and the user more profitable for the intermediary, the following are also available increased spread accounts<\/strong>also known as referred accounts<\/strong>. The client of this type of account, in exchange for a service provided by the broker, such as advice, signals or an Expert Advisor like Ducibus, pays more spread for his trading, which translates into more profit for the broker. We do not use this type of accounts<\/span>.<\/p>\n

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\n\t\t\t\tWe want to make money, that's the goal of any company, but we don't want it to be at the expense of raising costs to customers.\t\t\t<\/p>\n\t\t\t\t\t<\/blockquote>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Being affiliated to our accounts, not only allows us to earn a living. It also helps us to be able to offer better commission conditions to certain clients and allows us to have a proper statistical control of the use of our tools. In the end, it helps us to continue to evolve our bots and allows us to continue with a zero-cost price policy<\/strong>.<\/p>\n

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Once you have registered with the broker, you will be asked for a number of documents to verify your identity. Then you will have to open your new trading account. You can also start trading and then send the requested documentation.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Pro-Cent VS Pro-Standard Accounts<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Depending on the amount of capital you intend to trade, we will open a Cent or Standard account.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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\n\t\t\t\tImportant notice: Do not invest with money you need. Investing in financial assets is considered high risk and you could lose your money.\t\t\t<\/p>\n\t\t\t\t\t<\/blockquote>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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The difference between the two is that Cent accounts allow trading with fractions of the base currency of our account and are therefore more suitable for anyone who wants to trade with a Forex robot with a minimum investment. On the other hand, the minimum volume per trade varies, with Pro-Cent accounts having 0.1 lots and Pro-Standard accounts having 0.01 lots. Later on, we will see what these lot sizes mean.<\/p>\n

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Both in performance testing and in capital, leverage and risk management - concepts that we will also be looking at in the following articles, Ducibus bot should be operated with a minimum of 200 units of base currency -USD, EUR, mBTC- for each pair.<\/strong> to operate in case of using a Pro-Cent account.<\/p>\n

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This minimum amount should therefore be:<\/p>\n

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