Computers and the internet have become the must-have requirement for anybody undertaking forex trading. Many companies are selling software packages guaranteeing unthinkable profit by installing these packages. These packages are popularly known as forex robots. These are not robots in the real sense of the word, but these are software that would automate trades based on some setting given by the trader. The trader need not physically remain present when the trade is placed and executed. The variety of such packages available runs into hundreds if not thousands.
The martingale strategy was a kind of gambling style based on the premise of „doubling down‟ in the beginning. An American mathematician called Joseph Leo Doob had contributed a lot of work on martingales and is best known for his work on probability theory, especially martingale theory. Over the years, this strategy has been applied to the forex market as well with varying degrees of success.
A typical forex robot would entice traders with tag lines like “Our 100% no loss robot”, but not all of them are legitimate. This makes reading forex software reviews a must for new traders. While the martingale strategy is a little risky compared to others, perfect programming can make sure traders can gain significantly. Here are 5 martingale forex robots that you can use in 2021.
1. Happy Frequency
Happy Frequency is a forex robot that combines trend/grid/hedge/semi-martingale strategies, allowing users to choose according to their own risk levels. The strategy is protected with a news filter that works well with USDCAD, EURUSD, EURGBP, EURJPY, EURCHF, GBPUSD, AUDUSD, USDCHF and USDJPY. Users get a choice of opening any one of 4 accounts: Micro, Mini, Standard or ECN account and supports ECN brokers.
2. Happy Market Hours
Happy Market Hours is a semi-martingale forex robot that trades EUR/USD, EUR/CHF, EUR/GBP, EUR/CAD, USD/CAD, USD/CHF, GBP/USD, GBP/CAD, GBP/CHF, CAD/CHF to M15 chart. It is equipped with a spread filter that automatically stops trading when the broker spread goes abouve a pre-defined level. It also uses a dynamic stop loss and take profit levels based on market sentiment.
3. Penguine Martingale EA
Penguine Martingale EA as the name suggests uses the martingale strategy to plot chart prices in real-time to find the best entry and exit points with no lag. It supports over 20 trading pairs which come with pre-loaded optimized settings. The EA also sports a good client security protocol. It provides a trading win percentage of 62% executing 8 trades per day.
4. Pure Martingale Metatrader 4 EA
The Pure Martingale Metatrader 4 Forex robot is an automated trading robot that uses martingale in line with the MetaTrader 4 environment. It is available for free download and comes with a Pure Martingale robot strategy tester report for the EUR/USD forex pair on the 15-Minute chart.
5. FX Math X Trader
FX Math X Trader uses several profitable mathematical models with the highest possible profit and lowest drawn downs to find find the most likely direction for the next several days and opens orders according to it. It is capable of working with leverages ranging from 1:100 to 1:1000 and is based solely on the USD/JPY pair. It supports all kinds of accounts including micro accounts, mini accounts, cent accounts, Pro and ECN markets.
The mechanism of the martingale system involves a beginning stake. The stake will be doubled after every losing bet and one winning bet would be able to recover all the previous losses plus a profit equal to the beginning stake. With martingale EAs on offer, traders can get easily confused. However, there is always the danger of investing in the wrong forex robot. This is why it is always recommended that you read reviews from authoritative sites and trust EAs which can provide detailed records of its trading past.