Is it possible to actually earn automated forex income?

oliviajayden

Newbie
Nov 10, 2018
1
1
1
33
I have been trading stocks for a few years as a sideline. Now I'm thinking of going into forex as I'm going to lose my job and I am interested to know if I can earn automated forex income. I am willing to work very hard and learn.
 
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Enivid

Administrator
Staff member
Nov 30, 2008
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Odesa
www.earnforex.com
If you will be able to code your trading strategy into an automated expert advisor (robot) or if you will be able to find a ready-made profitable EA/robot, you can earn from Forex in automated way. Still, even when you reach profitability, you would still have to tweak and revise your EA/robot as the market changes.
 
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Ary Barroso

Active Trader
Jul 9, 2017
908
71
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I have been trading stocks for a few years as a sideline. Now I'm thinking of going into forex as I'm going to lose my job and I am interested to know if I can earn automated forex income. I am willing to work very hard and learn.

Work hard & learn! Then do manual trading! EA coding is more complicated than manual trading! it’s my personal observations.
 
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FTS

Newbie
Oct 25, 2018
6
1
2
31
The approach to trading automatization seems to be interesting due to several aspects. First of all, you do not need to deal with psycological issues, that sometimes could be even more difficuilt than to form trade idea.
Another point is that to create EA you need to have almost perfect strategy to be executed without any intervence.
To do that, you need to have both exellent trading and coding skills.

There are less different instruments in Forex, than at stock market, so from that point of view it would be easier to create a strategy. Pay attention to back testing software, it could help you a lot.
 
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freezfx

Trader
Jan 16, 2017
62
4
19
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I have another option for you. It is called copy trading; I do it at Forexchief platform all the time. In my opinion, it is cost effective, since you don't have to buy an EA or spend money building. All you need to do is find a trader who is a good wining ratio and automatically copy their trades. Once you register as a follow, deposit money into your account and his winning trades will be copied to your account.
 
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sport

Master Trader
Jul 2, 2013
72
18
69
What does intrigue me, is how some traders use and seemingly trust robots on VPS. Are there really ea's that have the ability to adapt to changing market dynamics automatically and with profit, and if so I would like to know of it. My own experience with EA's has been dismal, and I really couldn't feel comfortable using them on VPS.
 
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What does intrigue me, is how some traders use and seemingly trust robots on VPS. Are there really ea's that have the ability to adapt to changing market dynamics automatically and with profit, and if so I would like to know of it. My own experience with EA's has been dismal, and I really couldn't feel comfortable using them on VPS.


To ask this question , shows a lack of knowledge about eas
 
Care to elaborate?

EAS do not have ability to adapt to different market conditions, but one could place the set up to trigger in multiple market conditions, so eas don't have the ability to adapt , they just perform if changing market dynamics are coded .
 
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harryfibo

Newbie
Nov 28, 2018
10
0
2
37
I have another option for you. It is called copy trading; I do it at Forexchief platform all the time. In my opinion, it is cost effective, since you don't have to buy an EA or spend money building. All you need to do is find a trader who is a good wining ratio and automatically copy their trades. Once you register as a follow, deposit money into your account and his winning trades will be copied to your account.

How successful are you with this broker?
 
I have been trading stocks for a few years as a sideline. Now I'm thinking of going into forex as I'm going to lose my job and I am interested to know if I can earn automated forex income. I am willing to work very hard and learn.


Automated earning from forex is possible, the risk is high but it works.Unfortunately you will not learn profitable automated trading on forums .You will learn automated trading, because most people go to forums to learn from others who also don't know.
 

Dictorsto

Trader
Dec 23, 2018
56
4
24
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Yes, it is possible and some people are earning handy profit by using automated trading bots. If you have a workable strategy then you can convert it into a trading bot by making it run on a particular algorithm base. You would need a software engineer in this regard!
 
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Ary Barroso

Active Trader
Jul 9, 2017
908
71
39
35
Yes, it is possible and some people are earning handy profit by using automated trading bots. If you have a workable strategy then you can convert it into a trading bot by making it run on a particular algorithm base. You would need a software engineer in this regard!

Of course, it’s possible. But, it takes such a long time to develop a good EA. Besides, depending on others EA is not a wise decision at all.
 

Variss

Active Trader
Sep 14, 2015
45
5
44
I agree that it's possible but in some period time and not all the time because market are always change (Uptrend/Downtrend/Sideway Up and Down). At least we have to define before/during develop EA.
 

Kennyrice

Trader
May 3, 2019
32
5
8
29
Why Automated Trading Can Still Make You Money. Automated Forex trading is still making a lot of people money. These systems are tools, and just like any other tool, they need to be used properly in order to generate the desired results.
 

37riched

Active Trader
Dec 26, 2018
117
24
34
37
I do not recommend you to switch from stocks to something like forex if you already be making some good income on stocks even side one. Forex is not investing, but more like trading which needs lot of time and hardly be automated properly. Keep that in mind.
 

Ary Barroso

Active Trader
Jul 9, 2017
908
71
39
35
I do not recommend you to switch from stocks to something like forex if you already be making some good income on stocks even side one. Forex is not investing, but more like trading which needs lot of time and hardly be automated properly. Keep that in mind.

Well said and I do agree on your words! Such as, I am comfortable with only Forex and till now I’m playing only FX instruments; quite enough!
 

Adam Jackson

Trader
Jun 15, 2019
68
5
9
29
For making sense of profitable trading journey, I am working with modern trading tools and techniques along with advanced risk management tools which I simply love as a risk adverse investor. Though many foreign currency exchange traders are reluctant to work with automated trading platforms, I somehow feel comfortable to work with robot trading system. In the busy day of my life, I actually rely on automated executions of trades.
 

momo3HC

Active Trader
Feb 16, 2019
352
70
44
38
Well no matter if you trade manually or use EA`s, copy services or etc you must know how the forex market works so you`ve got to educate yourself.