Forex Robots and Expert Advisors have provided individuals with an opportunity to profits in a truly automated way. This has allowed a large number of novice traders to enjoy a slice of the profits as well. Most EAs that we encounter in the market apply mostly short to medium-term trading strategies in an effective way. However, there is a class of forex robots that apply long-term strategies exclusively. These EAs can be ideal for conservative investors in it the long term. With that said, here are the top forex expert advisors that apply long-term strategies.
Linear Weighted MA-Cross Expert Advisor is an FXCM optimized trading robot that trades exclusively on the EUR/USD, GBP/USD currency pairs on timeframes from M1 and higher. It is a free forex robot that is only capable with MetaTrader 4. The strategy in use consists of placing buying and selling orders simultaneously, based on the relationship between the quick and slow linear weighted moving averages in forex. Traders are requested to start with a minimum of $500 for trading.
The RSI Range Trader EA is another free long-term forex robot, capable of trading only on FXCM and MetaTrader 4. It applies the relative strength index while trading EUR/USD and GBP/USD currency pairs, using the M5 timeframe. The EA only places a single trade at a time. Novice traders are advised to be careful as the EA does not provide a built-in stop-loss system.
Channel Trader Pro is a long-term fully automated EA that trades exclusively on the EUR/JPY, AUD/USD, AUD/CAD currency pairs on any timeframes. It claims of delivering profitability of 2000% and works with some of the most traded currency crosses such as the ones listed above. The strategy is based on using a volatility indicator on two diverse periods. Once signed up Channel Trader Pro allows you to gain instant access to the software and settings and see third part proof from authoritative sources.
Forex Diamond is a long-term forex robot that was developed by the Automater group. It boasts an amazing recovery factor of more than 40. The EA actually implements three strategies. The first one uses trend retrace signals to scan for profitable trades. The second one is a counter-trend strategy that scans for potential reversals. Finally, the last one is a dynamic trading system that adjusts the trading parameters according to prevailing market conditions. This EA trades exclusively on the Eur/USD, GBP/USD, USD/CHF, and USD/JPY trading pairs and is available for $187 per license.
The Ganon EA is a long-term expert advisor which implements an exclusive strand theory. It works by finding the healthiest trend trades and eliminates the fake ones. It stays one step ahead of other brokers by detecting international price manipulations and fakeouts. The robot can trade in a hyper mode that provides more trades or the normal mode which focuses on bigger-sized trades. It is capable of trading several currency pairs such as GBP/USD, EUR/AUD, EUR/GBP, CHF/JPY, GBP/NZD, NZD/USD, NZD/JPY. EUR/CHF, AUD/CHF, USD/JPY, GBP/AUD, NZD/USD, USD/CAD, AUD/USD, EUR/USD and GBP/USD.
Conclusion:
EAs and forex robots can be a great tool for any novice trader who does not have the time or knowledge to spend countless hours in front of their trading terminal. However, the market is dynamic and these EAs don’t work efficiently all the time. This is why we have chosen the above-mentioned EAs which have proven success in the long term. All of them have a proven track record and a group of existing traders under their networks.
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