Trend trading is one of the most commonly followed forex strategies used in the market. A trend is a tendency for prices to move in a particular direction and can be long-term, short-term, upward, downward, and sideways. It is one of the most popularly implemented strategies along with hedge trading and scalping. While it’s a strategy that has been applied successfully by a number of traders with varying degrees of success, many EAs have also started employing the strategy in their automated systems. As the popularity and demand of EAs are at all-time high judging by the number of fx robot reviews on the internet, let’s take a look at some of the best EAs under this category.
- Smart Forex Trading
Smart Forex Trading EA is a trend trading short and middle-term EA which has carved out a reputation because of the results it has offered. It can provide much better results compared to other EAs but at a much faster rate. It trades both the Eur/USD and GBP/USD currency pairs, yielding 28.36% per annum. The minimum deposit for Smart Forex Trading is $100.
- BFS Trident
This is one of the first EAs to be based on Makeshift Analysis or MSA technology and developed by the famous international software developing company, Best Forex Soft. It has been tested with more than 10 years of historical data and has produced a profit factor of 1.42. The EA offers free trading tools, indicators, and other trading resources that are a rarity amongst EAs. The minimum deposit for BFS Trident is $1000.
- Smooth MSA-Cross EA
The Smooth MSA-Cross EA is a middle-term, trend trading EA which is one of the few MT4 exclusive FXCM developed trading systems. It supports a range of trading pairs and features risk limit and stop-loss functions to prevent account blow-ups. The EA yields almost 15% per annum while its drawdown is at 14.78%. It is capable of trading on M1 and higher time-frames. The minimum deposit for Smooth MSA-Cross EA is at $500.
BumbleBeeFX is a trend trading, short and medium-term EA that makes use of a self-updating algorithm that changes according to the market. It provides a unique protection system that works with price reversal moments, high spreads, and slippages. Its minimum deposit is $1000 which is cheap considering it allows traders to trade any time frame.
- Forex Truck
Forex Truck is a trend trading EA that works with both MetaTrader 4 and MetaTrader 5. It can be used with any broker with a maximum recommended leverage of 100:1. It specializes in trading on USD/CAD currency pair and provides both licenses for MT4 and MT5. The developers of the EA have included a reliable drawdown limitation system and stop-loss functions to ensure maximum trader safety.
- NCM Signal
NCM Signal is a middle-term, trend trading EA that works with the GBP/CAD trading pair. It is known for producing annual profitability of 82% which is one of its selling points. The EA allows traders to input their own risk settings to protect their capital. It is also a conservative trading system that aims at stability rather than exceptional profits. Clients can expect profits of up to 60% with their default conservative settings.
Trend trading EAs can provide significant profit provided they are used properly. There are many predatory companies that put out software programs that only mimic EAs in appearance. Clients can lose a significant amount of money if they fall prey to such practices, which is why research is key. The above list will help traders make better-informed choices when it comes to selecting the right forex robot for profitability.