Day trading strategy simply means buying and selling a security within the same day, that is a day trader cannot hold any open trading position for the next day.
Day trading strategies include scalping, fading, daily pivots, and momentum trading, in all of which several trades can be carried out within a day but all the trading positions should liquidate before the market closure as the longer a position is on hold, the higher the risk of losing it could yield. Depending on the trading style type, the price target may change. Below are reviews of some automated Forex robots using day trading strategies in their algorithms coded and refined by expert Forex developers and proved to be profitable and most safe:
Dynamic Pro Scalper is an Asian session scalper with a unique and high-efficient trading strategy and dynamic volatility entry and exit levels.
Currency Pairs
GBPUSD, USDJPY, GBPCHF, GBPCAD, ...
TimeFrame
M15.
A scalper EA mostly an Asian session but extends through out the day via multiple different TP and SL targets for every pair of its 11 tradable pairs. It also uses a unique filter to wipe out potentially dangerous conditions. It doesn't use a martingale system or recovery mode.
GPS Forex Robot independently takes all of the information from the market and calculates the necessary parameters for optimal trading. On the backtests the EA shows unbelievable stability and very good profit. Moreover, this robot is not sensitive to the spread. For example, with the EURUSD pair, for only one trading operation, the expert takes an average profit in 8 pips, while the average spread for this currency, for example on the Alpari UK or IamFX brokers, is only 0.6 pips.
Pivot Trader Pro is a fully automated Forex robot, as its name suggests it trades pivot levels and its performance is like that of a professional trader.
Pivot levels are imaginary detectable landmarks on a chart that help to determine its support and resistance levels as the price action trends up and down.
Pivot levels are imaginary detectable landmarks on a chart that help to determine its support and resistance levels as the price action trends up and down.
Currency Pairs
USD/CAD, USD/JPY, AUD/USD, NZD/U ...
TimeFrame
All.
A reversal trend trader that employs a well configured group of reliable indicators to predict the exact time of the trend impending death, momentum loss and the cutting edge of a new direction of that trend.
The next step before starting a trade is to compare such an opportunity to price action for verification, this confirms an impending reversal of the trend direction.
Then the trade entry becomes so favorable and that trade is highly promising and the system puts an order.
The next step before starting a trade is to compare such an opportunity to price action for verification, this confirms an impending reversal of the trend direction.
Then the trade entry becomes so favorable and that trade is highly promising and the system puts an order.
Fapturbo 2.0 v2.0
Fapturbo 2.0 trades 6 pairs with an extremely high trades frequency in addition to the crypto-currency Bitcoin, the electronic money that is making news.
Currency Pairs
6 Pairs + Bitcoin
TimeFrame
M15 for Bitcoin trading and H1 for Multicurrency trading..
Forex Megadroid v1.40
Forex Megadroid is an Asian session scalper, it resets its algorithm according to the current market conditions insuring your profits and minimizing your losses, it applies a new technology called RCTPA (Reverse Correlated Time And Price Analysis), it's able to trade without being detected by the broker.
Forex Striker v1.2
Forex Striker is a scalping Forex robot, trading on the 5M timeframe, can run on accounts of as little as $500 - $1000, with a risk of only 3% per trade, the robot codes are simplified facilitating the control of memory overloads in the computer which can lead in PC crashes, the robot is able to adjust the trade's SL/TP values according to the market movements, it can also track floating spreads and execute them into the trading strategy.
Forex Diamond v6.1 (MT4) / 6.3 (MT5)
Forex Diamond is a unique integration of trend and counter-trend strategies, smart money-management, dynamic trading parameter configurations, and rapid trade execution, implementing 3 advanced market domination strategies; secure after-retracement, secure countertrend, and aggressive countertrend scalping strategies and designed to trade with 3 proven Forex trading algorithms.
PipJet Robot v1.02
A scalping robot on trend pullbacks, resembling WallStreet Forex Robot. While its TP is set at 35 pips from the entry, it prefers to close most of the trades at 2-4 pips in profit and rarely keeps a trade running its full course. Its SL is set at 70 pips
FX Capitalist v1.1.7
FX Capitalist is a scalper all over the day with so tight stop loss (L version => 4 pips, S version => 2 pips) and a more higher take profit target (L version => 13 pips, S version => 11 pips). The losing trades are ordinary predominant, but the final result is still good.
Million Dollar Pips v1.6
Scalping, very short trade duration, multiple concurrent positions possible; due to the pips per trade low average number, this EA results will sure vary greatly from one broker to another. Scalping, very short trade duration, multiple concurrent positions possible; due to the pips per trade low average number, this EA results will sure vary greatly from one broker to another.
As its name suggests, Ichi is a scalper robot, taking advantage of AUDUSD while it's bound in a range and not trending high values before some retracement.
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