I have been forex trading using expert advisors for the past 4 years, most of my focus has been around expert advisors that are intended for scalping, however recently I found an expert advisor called forex envy, it is not a scalping expert advisor but it is an expert advisor that uses a martingale type approach.
The martingale technique was invented by a French mathematician named of Paul Pierre Levy. The technique was originally a type of betting style that was dependent on the premise of "doubling down". The system involves an initial bet however each time the bet becomes a loosing bet the wager is doubled in such a way that the next winning bet will make up all of the previous losses. The introduction of Zero on the roulette wheel was used to break the mechanics of the martingale system by giving the game two more probable outcomes other than odd versus even or red versus black, this meant that the chance of success utilizing this technique in roulette was reduced dramatically.
So what makes the martingale system used by the forex envy expert advisor so popular in the forex market? One of the key reasons is that forex pairs can not go to zero unlike in the share market where companies are able to go bankrupt; it is extremely doubtful that a nation will ever go bankrupt. Fx pairs can however go down in price fast however they never fall to zero.
The forex market has one additional unique benefit that makes it more appealing when using expert advisers like forex envy which is the ability to generate interest income on positions. Though in many cases frequently the forex envy expert advisor will not hold long open for a long enough time to generate any considerable interest amount, it is worth noting.
Now that you understand the basics of how the forex envy expert advisor functions it's essential to explain what you ought to look for when choosing a forex broker to run this expert advisor with. Some of the essential aspects that you must look at for include spreads, swap rates and deal execution latency. I have tried the forex envy expert advisor with over 20 separate forex brokers and have found that this expert advisor runs best with IC Markets. IC Markets has the best spreads and swap rates out of all of the fx brokers in the world. Their trading platform has been built especially for expert advisers like forex envy.
I have been running forex envy on IC Markets True ECN Metatrader 4 trading platform for 2 months now with excellent results. On average my account returns around 8% per week running this expert advisor.
The martingale technique was invented by a French mathematician named of Paul Pierre Levy. The technique was originally a type of betting style that was dependent on the premise of "doubling down". The system involves an initial bet however each time the bet becomes a loosing bet the wager is doubled in such a way that the next winning bet will make up all of the previous losses. The introduction of Zero on the roulette wheel was used to break the mechanics of the martingale system by giving the game two more probable outcomes other than odd versus even or red versus black, this meant that the chance of success utilizing this technique in roulette was reduced dramatically.
So what makes the martingale system used by the forex envy expert advisor so popular in the forex market? One of the key reasons is that forex pairs can not go to zero unlike in the share market where companies are able to go bankrupt; it is extremely doubtful that a nation will ever go bankrupt. Fx pairs can however go down in price fast however they never fall to zero.
The forex market has one additional unique benefit that makes it more appealing when using expert advisers like forex envy which is the ability to generate interest income on positions. Though in many cases frequently the forex envy expert advisor will not hold long open for a long enough time to generate any considerable interest amount, it is worth noting.
Now that you understand the basics of how the forex envy expert advisor functions it's essential to explain what you ought to look for when choosing a forex broker to run this expert advisor with. Some of the essential aspects that you must look at for include spreads, swap rates and deal execution latency. I have tried the forex envy expert advisor with over 20 separate forex brokers and have found that this expert advisor runs best with IC Markets. IC Markets has the best spreads and swap rates out of all of the fx brokers in the world. Their trading platform has been built especially for expert advisers like forex envy.
I have been running forex envy on IC Markets True ECN Metatrader 4 trading platform for 2 months now with excellent results. On average my account returns around 8% per week running this expert advisor.
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So if you are in the market for an expert advisor that will give you great returns you should really look at forex envy expert advisor on IC Markets Demo True ECN trading account. Of course there are allot of expert advisers out there, you should look no further than using forex envy with Australian forex broker IC Markets
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