At XMTrading, you can set up an FX automated trading (EA) tool for free with MT4, but traders often fail even if it works, so I will introduce it and explain it. There seem to be a certain level of demand as there are companies distributing EA and the like, but the reality is that most people go bankrupt and leave the market. Also, there are many unscrupulous traders who sell extremely expensive tools, so it is better not to try automatic trading. In the end, it will only cost you a loss.
XM allows automated trading
XM, a popular overseas FX company, does not prohibit EA in its operations. Therefore, you can trade with EA using XM. Therefore, there are many people who trade with the naive idea of using EA and leaving it alone to make money. However, it’s actually not that sweet. The reality is that most people are bankrupt and end up accumulating losses. Even if you check on the backtest page and get a good result, there is no benefit because you will lose more margin in the actual transaction.
Reasons for auto trading
The reason why there are so many people trying to automate trading on XM is because of the following good and sufficient reasons. You can download the EA and use it immediately, and you can invest immediately with one click. However, there are many people who put in too many lots and lose their funds, so I don’t want to introduce it too much because it has many disadvantages. Even if you start testing EA, the only way you can make money is when the market is right. There are very few people who can make money by playing EA with an XM account for free. You can easily set it up on your smartphone, but we don’t recommend it.
Even if you don’t have time, you can leave it alone and earn money
Even busy people can make the lowest possible profits with XM automatic trading. When you select MT4 or MT5 from the official website, download it, incorporate the EA, and run it, the EA will automatically perform entry and payment. Therefore, even during work, they will trade as much as possible without permission, so you can earn money without permission. You can also place multiple orders. There are many people who say that they can earn money from information such as blogs, so this also has an influence. However, it is not very safe and there is a high possibility that you will end up losing money.
no brain work required
By using XM’s automatic trading, you will be able to trade without chart analysis using data, so you can just look at the screen. When performing discretionary trading, chart analysis is essential to being able to win in FX. General trading involves mental labor, so no one can win by trading haphazardly. Be careful as automatic trading has poor reviews and reputation, and many have low ratings. Users must use what is on offer and be very reliable in their choices. Paid items are out of the question.
not influenced by emotions
You can start automatic trading of XM by using VPS, and you can trade without being influenced by emotions even if you have no experience in the details. Many of the traders who lose in FX these days are due to not being able to control their mental state. Of course, with automatic trading, emotions are irrelevant, so you will be able to trade without being influenced by calculations or judgments. Currently, XM basically allows both trading and scalping, so there are few restrictions when introducing it.
Is automated trading profitable?
Unfortunately, automatic trading is not profitable. On the contrary, they often end up suffering big losses. In most cases, you will lose your principal. In most cases, the sweet illusion that you can just leave it alone and earn money on your own is shattered. The biggest problem is that they don’t think at all, so they operate only based on logic, so they end up winning and failing in the same situation over and over again, resulting in poor performance, loss cuts, and continued drawdowns. The trick to choosing is to exercise discretion by not doing it in the first place.
lose all in one shot
The risk of automatic trading is such that if a single big trend occurs, it will go bankrupt. As one-sided movements occur, contrarian entries continue to enter and unrealized losses swell. In the end, you can’t stand the unrealized loss and lose all the principal. In the case of the exchange market, it has the property of returning when it makes a big move, but if there is a rare big direction, it will continue to move unilaterally. Automatic trading tools can’t detect it, so they keep getting contrarian entries all the time.
high risk low return
Unfortunately, unlike discretionary trading, automatic trading is entered without thinking about anything. Therefore, the return is very low. I don’t think about automatic trading, so the return is less. And as I said above, even if your winning rate exceeds 90%, you will lose all your money if you catch one big trend. It’s high risk with low return.
You can’t win with logic
In the first place, the market does not move based on logic. The platform is free and easy to use, and users can start using it right away on their smartphones, but there are very few EAs that can really produce results and achievements. There are no traders who make money exclusively through automated trading. The reason is that the market moves based on emotions, so if you don’t follow the logic, you’ll lose more than just your chances. 1000x leverage services often have the opposite effect.
Beware of traders
Companies selling automated trading tools are very dangerous. And while there are bloggers who are pushing automated trading, you should know that they are just trying to sell you automated trading tools and that they are not profitable. Be careful as the following selling methods are very common. Automated trading tools can be used not only by XM but also by companies such as hfm, fxgt, and exness. For beginners, they may seem convenient, but depending on the type, the logic used is dangerous and you will not be able to win 100%. Although VPS is also used in the industry, customers should do so at their own risk. Since positions are basically entered immediately from the beginning, your skills will not improve.
sell at a high price
Automated trading software is sold at an abnormally high price on Twitter and other sites. But most vendors don’t speak clearly and accurately about the risks of their tools. Second, since the goal is to sell the product anyway, they often remain silent about the risks. And as I said above, even if you can get a win rate of over 90%, it doesn’t mean much. Because eventually it will fail. Take care of your assets.
Automatic trading tool sales on blog
Some companies are developing and selling dubious automatic trading tools through their main content such as blogs. They will whisper sweet words to you, telling you that the winning rate is over 90% and that you can leave it alone and make money by buying and selling, but in the end, you should know that you will go bankrupt every month. If you are a person who can win in the first place, there is no way that the best way is to use tools. Please be careful as they simply want to sell tool software. There are many suspicious people even if they have detailed profiles.
Appeal your winning rate
Since the foreign exchange market has the property of returning once it moves significantly, automatic trading can win in most market situations. However, as mentioned above, if one big trend occurs, you can lose all your money. Even if the winning rate is 99%, it will eventually fail. Don’t be fooled into buying by the winning rate. Even an excellent program that runs perfectly 24 hours a day will usually collapse if the logic does not work, and the balance will be zero. Please do your research before using any tools. It is important to choose the safe and correct one.
earn money by leaving
Automated trading tools appeal to the idea that you can make money without having to do anything. Most people have jobs and are usually busy, but automated trading tools will enter the market and make money for you. This makes them very attractive, but most automated trading tools simply fail, so they are designed to make you lose money in the end. Even if you take advantage of promotions and campaigns, you will remain a beginner forever unless you study and practice accordingly. Be sure to aim to become a professional and be able to see price movements. Choose the timing to buy and sell at the price and aim for stable victory. In conclusion, efficient trading is discretion.
The biggest risk
The biggest risk is automated trading. This is regardless of the type, and even if you trade a lot, it will eventually go bankrupt. It doesn’t matter if it’s standard or micro, the point is that if you add new entries without thinking about anything, you will not be able to withstand the unrealized losses when a major trend occurs and you will go bankrupt. The operating company provides VPS etc. in advance, but in the past, no one has ever won with automated trading.
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