DailyFX RSI trading advisor is an indicator software. This is a powerful investment tool, most suitable for trading in MetaTrader4 terminal on FXCM broker’s trading deposits. The Expert Advisor uses a simple but profitable strategy based on the use of the Relative Strength Index. The advisor was developed by FXCM’s trading strategists based on several years of analysis of millions of transactions. The strategy used in the Expert Advisor shows the best results when used with a correctly selected parameter risk&reward. By default, the Expert Advisor places trade orders to buy or sell according to the Relative Strength Index. The advisor only executes one deal at a time. Take Profit and Stop Loss parameters are easily customizable according to the trader’s requirements.
DailyFX RSI Trader – detailed information
|Type of Expert Advisor||trendy|
|Size of the lot||no less than 1000 pips for 0.1 of the standard lot|
|Size of deposit, $||500|
|Strategies||Relative Strength Index (RSI) strategy.|
|Pair tool/forex||EURUSD, GBPUSD|
|Yield, % p.a.||46.36|
|Max. drawdown, % p.a.||19.37|
|Autonomous account type|
|Maximum risk limit|
|Many series in one direction|
|Automatic start lot|
|Fixed Take Profit|
In connection with the popularization of automated trading, many investors ask themselves what is a Forex Expert Advisor? First of all, it is a special program required to manage the trading process automatically, i.e. without the trader’s participation. A trader invests in the robot in advance, a kind of algorithm, the conditions on the basis of which the subsequent market activity is carried out.
When you trade manually, you need to analyze the market yourself, take into account the forex forecast for the current day, forex news and choose the entry points to the market. However, it is also possible to trade automatically, using special programs that do most of the work for a trader – forex advisors.
Trading involves obtaining a great deal of knowledge – understanding the functioning of the market and various nuances, including the ability to apply technical and fundamental analysis. Forex Expert Advisors, i.e. the programs used for automatic trading, cannot help it.