How I Made $5693.60 Using a Forex Robot in 90 Days
Are you interested in making money through Forex trading but don't have the time or expertise to do it manually? In this article, I will share my experience of using a Forex robot to make $5693.60 in just 90 days. I will explain what a Forex robot is, how to set it up, and the Forex robot I used. Additionally, I will share my personal tips and tricks to help you avoid losing money when using a Forex robot.
What is a Forex Robot?
A Forex robot is a software that uses a specific trading strategy to open and close trades for you. It analyzes the chart and the market to determine when to open and close trades. You just have to drag and drop your robot on a chart, and it will start opening trades for you.
How to Set Up a Forex Robot
To use a Forex robot, you need three things: a Forex broker, a virtual private server (VPS), and a Forex robot.
Forex Broker
A Forex broker allows you to open a trading account, which will allow you to trade in the Forex market. The broker that I use is called Hanko Trade. It is the best when it comes to EA or Forex robot trading because it allows you to trade using an EA and has low spread.
Virtual Private Server (VPS)
A VPS is a virtual computer where you can run the robot 24/7. It allows you to run the robot without having to keep your laptop open for 24/7. I use AccuWeb Hosting, which is cheap and has a VPS that costs $9.99 a month.
Forex Robot
The Forex robot that I use is called Forex Fury. It has two plans: a single license and a diamond plan. The single license allows you to use one Forex robot only on one trading account, while the diamond plan has two live account licenses.
My Experience Using Forex Fury
I have been using Forex Fury for over 90 days, and in that period, I made over $5693.60. I use the USD/JPY chart on the 15-minute time frame. The settings I use are almost the same as the default settings, except for the max order, which I changed to three, and the max spread, which I changed to 20.
Tips to Avoid Losing Money
Here are three tips that helped me avoid losing money when using a Forex robot:
1. Only put the amount in your trading account that you can afford to lose.
2. Pull out your initial investment once you have made a profit.
3. Don't get greedy.
Pros and Cons of Using a Forex Robot
Pros:
- Can make money without having to do it manually
- Can run 24/7 on a VPS
- Can be profitable if used correctly
Cons:
- High risk, high reward
- Can lose money if not used correctly
- Can be affected by market conditions
Highlights
- A Forex robot is a software that uses a specific trading strategy to open and close trades for you.
- To use a Forex robot, you need a Forex broker, a VPS, and a Forex robot.
- The Forex robot that I use is called Forex Fury, and I made over $5693.60 in 90 days using it.
- Three tips to avoid losing money when using a Forex robot are only putting the amount in your trading account that you can afford to lose, pulling out your initial investment once you have made a profit, and not getting greedy.
FAQ
Q: Can I make money using a Forex robot?
A: Yes, you can make money using a Forex robot, but it is high risk, high reward.
Q: What is the best Forex robot?
A: The best Forex robot is subjective and depends on your trading strategy and preferences. I recommend trying Forex Fury.
Q: Can I use a Forex robot on any trading account?
A: No, you need to check with your Forex broker if they allow the use of Forex robots on their trading accounts.
Q: Can I use a Forex robot on multiple trading accounts?
A: It depends on the Forex robot's plan. Some plans allow you to use the robot on multiple trading accounts, while others only allow you to use it on one trading account.
Resources
- Hanko Trade: https://www.hankotrade.com/
- AccuWeb Hosting: https://www.accuwebhosting.com/
- Forex Fury: https://www.forexfury.com/
