Choosing the right margin and leverage. Trading on the Forex market takes place with the help of security accounts, their magic and where the biggest headaches can occur.
The leverage used must be logical. In order to use Forex robots, you must have a leverage of at least 1:400 so that there is a margin to open several positions without risk to the entire account.
As the leverage decreases, you will need a larger margin to trade.
For Piphiker, a minimum of $1,500 per pair is recommended, so if you want to trade two different pairs, your account should be at least $3,000.
These two concepts of margin and leverage, we need to master them perfectly, they will keep us in the game, and finally the ones that will make us earn money.
Choosing the time frame
The time frame within which to work is a personal matter of the operator and is more related to its understanding of the market.
Some prefer to trade on daily charts, others – 4 hours, 15 minutes or 5 minutes.
Fortunately, with Piphiker we don’t need to worry about time frame, as it uses 1-minute time frame (M1), so it always finds opportunities to open trades, it’s quite a dynamic system.
To give you an idea of the size of trades, even though it is a very active Expert Advisor, it trades only two or three lots on average every month, on the account about 3000 dollars.
Can I choose other currency pairs or assets?
The Piphiker is designed to trade any currency pair, even precious metals such as gold or silver, commodities such as oil, or indices such as the SP 500 or DAX. However, in order to maintain a controlled risk factor, its developers recommend trading in currency pairs where it has shown the best results (EURUSD, GBPNZD, AUDNZD, GBPJPY, EURJPY, AUDUSD, EURCHF).
How to choose the best Forex robot?
As you can see on the iForexRobot portal, there are many different systems available for trading.
Each of them has its own peculiarities, with different trading rules, suitable account size and capital management rules developed for each robot.
Before you decide to trade a robot, you need to look at all these small details to find the robot that best fits your market vision, psychology and account size.
The Piphiker is a robot that showed the best results in 2018 under very specific circumstances.
Always be vigilant, because the market situation can change. In any case, iForexRobot supports customer service to solve any problem that may arise with your robots and their operations.
iForexRobot robots valid for all brokers?
Theoretically, iForexRobot robots work correctly in all brokers, which logically allows trading with Expert Advisors.
Usually those who have Metatrader 4 trading platform allow using it. Some even have a free VPS service, others offer it free of charge depending on the account size or the number of traded lots, and in some cases you have to pay for its use.
In any case, it is not the most important thing to decide between a broker or a broker.
It is important to choose a regulated broker and, if possible, with adjusted spreads, which will allow us to get a higher profit margin per trade.
Leverage problem under European law
The new European CFDDD rules adopted by ESMA under the auspices of the European Economic Community (EEC) authorities have left the CFDD market very touched.
The problem we Europeans face is that if we want to open an account with a European broker, we can count on a maximum leverage of 1:30.
It is logical that this limits our trading very much. We either have a very large trading account or it is almost impossible to trade with a Forex robot.
Luckily, we have a small hole in which you can penetrate, open an account with a regulated broker, but outside the European Union.
There are several alternatives, such as Australian brokers, which have a very strict regulator that controls them very strictly, but have not imposed such restrictive restrictions on the use of borrowed funds as in Europe.
Some European brokers themselves allow them to open accounts with subsidiaries located in other countries (Australia) or under international regulation so that they can increase the allowable leverage margin.