Trend following is a systematic investment style that follows a rules-based trading program. Use historical price data to anticipate the direction of future price movements. Thanks to the inherent leverage of traded assets, trend-following techniques are able to work at all levels of volatility. Given the popularity of the trading robots, we have listed the 5 best FX robots for trend trading below:
1. Odin
Odin Forex robot operates on multiple trading pairs. It has an innovative grid strategy that is capable of delivering an annual return of 57% and a maximum annual drawdown of 33%. Odin implements one of the most advanced grid trading strategies on the market, capable of finding trades even in a rapidly changing market environment.
2. Roboforex
Roboforex is a forex robot compatible with MT4 EA and MT5 that offers, for MT4: 3 types of order execution; 9 time frames for trading; 50 built-in indicators for technical analysis and a variety of order types, while for MT5 it offers 4 types of order execution; Multi-currency tester; Market Depth and 6 types of pending orders.
3. WallStreet Forex Robot
WallStreet Forex Robot applies a low risk scalping strategy. Trade EURUSD, GBPUSD, USDJPY currency pairs on the M15 timeframe. A deposit of at least $ 1.000 is recommended for this robot. It is a short and medium term trending Expert Advisor developed by the developer of the WallStreet trading software.
4. Asia Range Grid
Asia Range Grid EA is an FX robot that trades on the EURUSD currency pair on M5 and beyond using a unique combination of the RSI Cross technique and a grid entry / exit technique. It uses a combination of trend and grid trading, carefully balanced with custom indicators. This EA is only compatible with FXCM's MetaTrader 4 software.
5. Forex Fury
Forex Fury is a fully automated expert advisor, developed by the Rypax Inc team, also famous for their other equally successful EA called Forex Steam. With a whopping 93% win rate and a host of other amazing features, it's one of the best options available on the automated expert advisor market so far.
Conclusion
After a central bank makes a major statement or releases a press release, market momentum can quickly reverse or high volatility can emerge in a short amount of time. Information regarding the state of local and global economies can have a huge impact on the direction of the forex market.
Each type of trading carries substantial risk. FX trading is no different. This is not a quick earning scheme. However, if not careful, it can be a "get poor fast" scheme. It is recommended that you understand the basics of the market before starting to trade with an Expert Advisor.
Trend trading is a safe and profitable trading strategy that, if applied successfully, can yield a fortune. Just remember to always try and download the EAs after careful evaluation and review.
