Learning how to trade the market, watching the news, immersing yourself in trading – just the preliminary preparation can take a novice trader years. And not the fact that they will be useful. Moreover – because of elementary lack of knowledge and skills at first time the trader can be accompanied by failures. And quite big ones. As a result: some lose all their savings, others – simply give up with the excuse “it’s not for me”. In order to withstand all the trials at the beginning of the journey and achieve a good result, you need support. The best option is a Forex trading robot.
What is a Forex trading robot ELM EA?
Let’s start with the definition: a trading robot is a special software which is based on a set of trading signals. Such base allows the program to determine the moments when it is necessary to sell or buy a particular currency pair. As a rule, robots are based on trend trading. This allows them to increase the chance of profit and reduce the likelihood of financial losses. Another feature of such programs is that they trade within a small range and at the quietest time for Forex.
Important: Don’t forget that the robot is only an assistant. I do not recommend trusting artificial intelligence completely and using its functionality on a permanent basis.
There are at least a hundred reliable trading robots in the trading news. One of them is ELM EA. This software has an innovative approach to Forex market analysis and has high mathematical expectations. One of the program’s pluses is its broad base of analysis. ELM EA can analyze more than 50 ticks in a second
Interesting: The robot was developed after 10 years of studying Forex, the peculiarities of trading on it. The program is constantly updated and adjusted to the current market conditions.
The ELM EA leaves a rather positive impression after operation. A detailed review of this software can be found at elm-ea.com. Here you can also request a free copy of the robot. Next I will briefly tell you about the features of this program.
General characteristics of the ELM EA bidding robot
ELM EA is an automated cross-platform Forex trading robot. The program is based on conducting one trade at a time. It does not use dangerous strategies and maintains the order at the level that corresponds to the set Risk settings, without adjusting it depending on the results of the previous trade.
Other important features of the ELM EA include:
- The use of virtual TP and SL as well as real TP and SL visible to the broker;
- Clever money management system, which allows you to generate income even if the account is only $10;
- There is no need for a large margin for a trading strategy, due to which it is possible to work on trading accounts with low leverage;
- Support for 26 currency pairs (the exact number depends on the software version: the minimum – Optimum – contains 6 currency pairs, and in the version with extended functionality – Pro – their number reaches 26).
The robot can only be tested in real time. A history test is not available. The real-time test may take more time. But it shows the most accurate results, which can be trusted and used to build full-fledged trades.
Advantages of using the ELM EA trading robot
The main advantage of using the ELM EA functionality is speed. This software tracks hundreds of quotes at a time. All calculations the robot makes instantly. In the same way the decision on transactions is made. In a manual mode it is unreal to provide such speed of accurate trading. There are also a couple of other characteristics:
- Accuracy of signals. The algorithm of the robot carries out an in-depth analysis of changes in exchange rates. The system uses an algorithm of transactions, which so far has no equals. The accuracy of trading signals reaches 70%.
- Current Strategy. The developers are constantly updating the methods of market analysis. And it happens not every year, but much more often. The strategy used now is fully consistent with today’s market specifics.
- Risk control. The robot has a full module of tools necessary for risk management during trading. In the practice of ELM EA there has never been a precedent for a client to discover in the morning the loss of all money from the account as a result of overnight trading. If this had happened, the corresponding reviews would have appeared on the web long ago.
- The absence of martingale. For me, martingale is the most dangerous strategy. Yes, in the long run, it can make a profit and cover all losses. But for this you need to have an account with an infinite amount. Otherwise – you can just lose all the money. The ELM EA rules out such an outcome because martingale is not used in order management.
Another big plus is the fast start. It took me only 5 minutes to start trading with this EA. But from the accumulated knowledge practically nothing was useful. The entire trading process is fully automated. So, even a beginner can cope with it.
ELM EA profit: how much income should I expect?
To begin with, none of the bots will guarantee you a 100% profit. And this is logical. We do not take into account the pseudo-programs that only bring profit to their developer.
But in the case of the ELM EA the rates of return are quite good. Using the standard settings, the user can provide a stable profit of 20-25%, which is not bad enough. Especially in a constantly changing market situation.
Another feature of the program is the possibility of personalized aggressive settings. You can adjust the system completely to your own parameters. This will increase your monthly profits many times over. But do not forget that the personal settings increase the risks. If you are not ready to risk your money, I recommend using the standard settings of the algorithm.
ELM EA security for the trading account
One of the significant advantages of the ELM EA is the high security of the account. First, all operations on the account are well protected. To start them, you need to use a complex password, a special code or multi-step authentication. Secondly, the ELM EA detects price slippage and immediately shuts down trading if it is exceeded. The same procedure occurs when the set execution speed is exceeded. And thirdly, ELM EA deactivates operations after a series of losses. This minimizes the risk of the trader losing all capital.
Interesting: The developers of the software openly share their accounts with investment passwords, which shows the transparency of the project and the honesty of its authors.
The ELM EA is well protected from:
- Possible manipulation by the broker;
- Unforeseen changes in the market;
- Strong losses due to price slippage;
- The loss of the trader’s entire deposit.
The program allows the client to set the level of possible losses. If it is reached, the software activity is suspended. Thus you can independently control how much you are willing to lose in specific conditions (remember: trading without losses is unrealistic).
Available pairs for ELM EA trading
There are 26 currency pairs available in the Pro version of the ELM EA: AUD/NZD, EUR/USD, AUD/CHF, GBP/USD, USD/JPY, EUR/JPY, USD/CAD, AUD/USD, NZD/USD, AUD/JPY, CHF/JPY, AUD/NZD, CAD/CHF, GBP/CHF, CAD/JPY, EUR/AUD, EUR/JPY, EUR/CAD, EUR/CHF, AUD/CAD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/JPY, NZD/CAD, NZD/JPY, NZD/CAD, NZD/CHF.
All 26 currency pairs can be used simultaneously. But it’s better to exclude pairs, the difference between purchase and sale of which exceeds 2.5. This will increase the overall profitability of trading, while minimizing the risks for the trader.
To use all 26 pairs, you will need at least 1 GB of free RAM on the VPS server. This is important to consider when choosing the latter. VPS-server is a virtual independent computer, which functionality is formed according to user’s needs. In contrast to classical trading VPS trading is characterized by more stable trading environment and higher security of operations. It is possible thanks to its constant connection to Internet.
Brokers for trading with ELM EA
ELM EA implies the possibility of trading through any brokerage companies. The trader is not limited in the choice of a suitable broker. The authors of the software themselves provide a list of companies most recommended for cooperation. Such recommendation is fully non-commercial and independent (no affiliate links on the project website and no hidden advertising of certain companies).
Among the top brokers to trade with the ELM EA the authors of the project highlighted:
- NDDFX (Dma account);
- Tickmill (Pro or Vip account);
- FBS (ecn account);
- Hanko trade.
The list of brokerage companies recommended to clients of this platform is periodically updated. You can find up-to-date information on the official website of the robot. But do not forget that the final choice depends only on your requirements and preferences.
Interesting: The author of the ELM EA is only interested in the client using the features of his project. It does not matter which broker he will work through.
You should choose a brokerage company responsibly. To identify a reliable broker, it is necessary:
- Check the license of the company (such information should be publicly available);
- Gather all possible information about the broker from public sources (study the broker’s website, reviews of the broker, reviews of independent platforms);
- Explore opportunities to enter other markets (relevant if you plan to work with different types of assets);
- Get acquainted with the tariffs (compare fees and costs of different subscriptions on several services and choose the most suitable for yourself);
- Evaluate the convenience of the service (although ELM EA provides the most automated trading process, but most of the management you have to do yourself).
If you are just beginning to dive into the world of trading, give preference to brokers who provide training materials. They will help you faster understand the intricacies of trading and reduce losses, which often arise from an elementary lack of the necessary knowledge and skills.
ELM EA license for real accounts
All ELM EA licenses available for purchase are provided on the forum. Here you can also see the rates and purchase the appropriate tariff. Payment for the license is made in cryptocurrency.
Important: If you do not have a crypto wallet yet, you need to create one and buy cryptocurrency in the required amount before purchasing the robot.
Also at the forum there is an exchange of information between clients of the software. At the forum you can learn subtleties of trading with an innovative robot, ask questions, solve problems that have arisen in the process of using the software. Communication at the forum is quite positive.
Interesting: The goal of all robot customers is the same – to make money. That’s why ELM EA users actively help each other on the forum to achieve the desired result.
Software licenses are not tied to the account number/broker and account/owner. The only limitation is the number of trading accounts that work simultaneously. Depending on the package, the software can run on 3 or 10 accounts at the same time. Switching between them (subject to the limit on the number of simultaneous connections) is made in a few clicks. This provides maximum freedom for the trader and allows trading without significant limitations.
Is it worth trading through the ELM EA?
Finding a profitable and reliable Expert Advisor for Forex trading is difficult. But ELM EA is one of them. The robot significantly increases the trader’s chances of high income and reduces the risk of losing the entire deposit. It is definitely possible to recommend it for use. But with the condition that a few tips are followed:
- Don’t take auxiliary software as a panacea for endless profits. It is only an additional tool that can be used to increase profits and reduce risks.
- Be careful with the system settings. To begin with, it’s better to use the basic settings. Their profitability is slightly lower. But the risks are substantially lower. It makes sense to configure the software manually only after a careful study of its functionality.
- Raise your level in trading. If it were possible to make stable and constant profits with robotic software, there would be many more billionaires on the planet. But, in fact, the success of trading depends only on the real knowledge and skills of the trader himself. No single auxiliary software is capable of providing stable and high profits.
Another important tip is to be careful when looking for a broker. If you have difficulty choosing, use the companies recommended by the ELM EA authors. These are not some advertising integrations. These are really reliable brokers with an official license and a good reputation. You can see for yourself – all the necessary information is publicly available. See other Reviews about ELM EA or That ELM review
ELM EA is one of the most powerful trading robots suitable for MT4 and MT5 platforms in my memory. The algorithm has a fairly well-balanced strategy, clear and strict rules for making trades, and a convenient management system. The only significant disadvantage of the program is its high cost. But firstly, the functionality that the trader gets fully corresponds to its price. The software is a complex product that is fully ready to work with real trading accounts. Secondly, the authors of ELM EA guarantee a return of 20-25%, which is a good enough indicator among similar programs. So it is easy to recoup your investment (if the robot is properly configured).