Perceptrader AI is an Expert Advisor that uses a grid system of orders with artificial intelligence capabilities, deep learning algorithms and neural networks, which in itself sounds beautiful, but generates a lot of skepticism among experienced traders. The author claims to integrate the strategy from the already known Waka Waka robot into the EA algorithm, supplementing it with artificial intelligence ChatGPT and Google’s Bard AI for predicting market movements, as well as the Unique Trades function, which ensures that no trades are exactly the same for different traders.

Perceptrader AI Trading algorithm

Perceptrader AI I mentioned above, the Perceptrader AI trading algorithm is based on a strategy borrowed from Waka Waka, which in turn is based on Bollinger Bands and RSI indicators in combination with a grid of orders. But here we also have neural networks with artificial intelligence. In general, it seems to me that the author has cheated a bit and presented us the modernized Waka Waka EA as a completely new Expert Advisor. But let it be on his conscience.

Forex markets auto trading benefit

Forex auto trading, also known as automated trading or algorithmic trading, offers several benefits for traders. Here are some of the key advantages:

1. Emotion-Free Trading

Automated trading systems operate based on predefined rules and algorithms, eliminating emotional influences like fear and greed that can negatively impact trading decisions.

2. Consistency and Discipline

Automated trading ensures consistent application of trading strategies without deviation, maintaining discipline and adherence to trading plans regardless of market conditions.

3. 24/7 Market Monitoring

Forex markets operate 24 hours a day. Automated trading systems can monitor and trade the markets around the clock without human intervention, capturing trading opportunities at any time.

4. Backtesting and Optimization

Automated trading allows for thorough backtesting of strategies against historical data, enabling traders to optimize and refine their strategies before applying them in live markets.

5. Speed and Efficiency

Automated systems can execute trades instantaneously, ensuring that opportunities are not missed due to delays. This speed is crucial in the fast-moving forex market where prices can change rapidly.

6. Diversification

Traders can use multiple automated strategies to diversify their trading portfolios, spreading risk across different currency pairs and trading styles.

7. Reduced Human Error

Automated trading minimizes the risk of human errors such as incorrect order entries, miscalculations, or missed signals, ensuring more accurate and reliable execution.

8. Advanced Analysis and Execution

Automated trading systems can analyze large volumes of data and execute complex trading strategies that would be difficult to perform manually.

9. Scalability

Automated trading allows for easy scaling of strategies, managing multiple accounts or trading a large number of positions simultaneously without additional effort.

10. Flexibility

Many automated trading platforms allow customization of strategies, enabling traders to tailor systems to their specific needs and preferences.

Conclusion

While forex auto trading offers significant benefits, it is important for traders to understand the limitations and risks involved. Automated systems require regular monitoring and maintenance, and there is always the risk of technical failures or unexpected market conditions affecting performance. Properly designing, testing, and implementing automated trading strategies can maximize their potential advantages and contribute to successful trading outcomes.

How do I install an Expert Advisor on MT4?

• Open the MT4 platform Select ‘File’ from the main menu
• Click on ‘Open Data Folder’ to bring up a new folder panel
• Select the ‘MQL4’ folder, followed by the ‘Experts’ file
• Drag and drop your EA file(s) into this folder
• Restart MetaTrader 4 for your changes to take affect