If you trade forex market long enough you might realize that there are times when most losses are caused by yourself. We are humans and humans are emotional beings. That is why sometimes, often after series of losing trades, we get very emotional (poker players call it being on tilt) and it is extremely difficult for us to stick to our forex trading strategy. We start to overtrade, oversize our positions, take bad entry points or even worse exit points.
And suddenly, profit generated by weeks and months of discipline trading can vanish in a blink of eye.
If you are regularly experiencing this king of troubles, it might be time to consider using automated trading or forex robot. There are many trading systems and robots available online these days. You can google & test one of them.
But I would suggest a different approach.
Create your own forex robot
Why would you do that if buying one already built is faster and easier? Well, there are thousands of various trading methods these robots can apply. However, I think it is same as with following or copying someone´s else trading strategy. You simply have to be in sync with that trading system, otherwise you can have a really hard time following it.
If you decide to create forex robot by yourself, you can make him automatically execute your own trading system. The one you were trading manually.
Creating a forex trading robot is no rocket science
There is one really hand tool from StrategyQuant called EA Wizard. It is a really clever software that will allow you to convert your trading ideas to a forex robot withou any programming skills.
You can use it for testing or real trading on MT4 (MetaTrader4) platform. You simple use EA Wizard to create your trading strategy and then save it as a MT4 EA with full source code!
It is simple as that.
Creating your own forex robot in 3 steps:
1) Create trading strategy
2) Save it as EA (Expert Advisor)
3) Trade it automatically on MetaTrader 4
Now, if you are in doubts about your ability to create your own forex trading robot, just watch the following video that shows how to create a profitable EURUSD breakout strategy in EA Wizard in only 5 minutes without any programming!