Trade Advisor Momentum1 is a commercial trading tool created by the trading software department of FXCM. The cost of the Expert Advisor is only $50, which makes it one of the cheapest paid trading robots. But nevertheless, it is a powerful and reliable investment instrument. The Expert Advisor is designed to trade several major currency pairs on the MetaTrader4 trading platform. Momentum1 uses classical trading signals from the DailyFX PLUS system, a popular source of trading information of the DailyFX resource. The Expert Advisor applies six different trading strategies simultaneously and offers trading tips for more than a dozen trading instruments. The main indicator used by the Expert Advisor is the Speculative Sentiment Index (SSI), which is a proprietary indicator of FXCM.
Momentum1 – 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, $||1000|
|Timeframes||from M5 and above|
|Pair tool/forex||EURUSD, GBPUSD|
|Yield, % p.a.||56.35|
|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.