Day Traders Automated FX Trading Strategies

This type of Forex trader holds on to their trades for a few hours but not more than a day. With the objective to make quite a number of pips in profit, 30 to 70 pips.

The day trader makes 2 or 5 trades in one day, participating during busiest times of the market & they do not hold their orders overnight.

These Forex traders use the 15 min Forex charts to put their orders. They use 1 hour chart to determine the market trend, if it going up or down & to decide their entry & exit.

Day Trader 1 Hour time frame strategy

A Forex day trader using 15 min chart wants to go long, checks 1 hour time frame, it looks like the example below, since it shows the market trend is going up, they will then decide it is okay to buy the currency pair.

Types of Forex Market Traders - Day Traders

Automated Day Trading Software for Day Traders

About Automated Day Trading Software and Forex Robots Used For Day Trading

You can go to codebase website and get MT4 Automated Expert Advisor Programming Tutorial and learn how to automate forex trading and write an EA. But because most traders might not want to learn a coding language or take on task of building automated trading systems & might want to use their time for trading currencies and making profits, for those who don't want to learn programming they can direct access the Forex robots listed on this market: where coders using Expert Advisor Forex Bots which are profitable sell their automated systems, others can then buy from them or order for one to be coded for them from this codebase.

This code base is also a good place for experienced currency traders, it allows those who can demonstrate that they have a profitable Forex trading robots to get additional earnings by selling their Expert Advisor Forex Robots, these are also made available direct From the MT4 software, where potential buyers of Expert Advisor Forex Robots can access them. The screen-shot below shows how a trader can access these MT4 automated EAs on their software.

Access Automated Trading Bots From MT4 Automated Software

EA Library - For Traders Wanting to Automate Trading

From above screenshot trader can access the Codebase Market direct from their platform. A trader can then automatically setup the Expert Advisor onto their MT4 platform and start trading with it. The Market contains free EAs as well the paid ones. A trader can also try out any of the above automated forex EAs by downloading their demo version after registering in this Community.

As a trader wanting to get professional automated Expert-Advisor robots & strategies this is the place to start.

How to Get a Forex Robot

Once you have downloaded the MetaTrader 4 Software and installed it on your computer. You will then have to open MT4 Toolbox: The Toolbox can be accessed by pressing CTRL+T keyboard shortcut keys. After launching the tool box select ' Market ' tab as illustrated and shown on screenshot below.

A list of the available Expert Advisor Forex Robots will appear as it is illustrated below. You can also choose a FX trading bot from the different categories as displayed & illustrated below.

Library of Expert Advisor Forex Bots

You can then choose the one which is suited for your trading style. Each and Every item on this list has extensive description of how it operates and you can use this information to select one which is suited for your techniques based on this description.

There are different applications which trader can use, among the ones you can purchase are:

• Expert Advisors
• Custom Indicators
• Panels
• Libraries
• Analyzers
• Utilities

You can choose any of these based on the categories as illustrated & shown on the images above. If you wolud like to learn what's an automated trading EA, custom technical trading indicators, panels, libraries, analyzers & utilities are you need to navigate to Codebase Community.

Once you've visited & decided which type of application you require, next step is to sign up & become part of this programming community. After signing up you will then get an account & you can interact with other forum members and have access to multiple Expert Advisor Forex Bots. To register - navigate to the Registration Page on their web site.

After signing up in community you will then need to obtain credits. Credits is the currency which is used in order to obtain the automated systems available. To get credit you will first need to deposit some money into your MQL5 account.

You will then use this account & the password which you get to set up the Forex automation on your MetaTrader 4 software as displayed below. These settings will be set on your MetaTrader 4 software that is installed on your computer, & not on MQL5 web-site - but you will first obtain them from MQL5 site then set them on your MetaTrader 4.

Setting Up An Account to Use for Automated Trade on MetaTrader 4 Software

Login to MQL5 Account From MetaTrader 4 Platform

To obtain to the above window panel, Navigate to ' Tools', Next to " File, View " at the tops left corner of MetaTrader 4 software. Click Tools >>> Click Options, the above window panel will popup.

Select ' Forum ' as illustrated above, and then type your Login details: Your Sign in & Password.

Once this is complete you'll now have complete access to the Market, and you can set-up any of the Forex robots on your platform and begin automated trading.