One of the many things you need to know about trading is that it demands your attention 24 hours a day. The moment you turn away from your computer screen or go to sleep, the market may take 180 degrees turn and you may lose a huge opportunity to make money. Another thing is lacking knowledge and experience in reading the price movements within the market right and making a wrong decision that may cost you badly. The solution to these problems lies in automated trading. You can use forex robots that make trading decisions for you, when you are not present. However, the market is filled with scammers who are out there trying to sell their products that are not useful. So, you need to be cautious before choosing a robot.
How To Choose A Good Robot?
You need to consider several facts while choosing a good forex robot so you can avoid scammers, such as:
A low drawdown rate: Drawdown is the estimate of decline and reduction of the total amount. The lower the drawdown rate is, the safer the robot is. Although higher drawdown rate indicates higher gains, they can also make an account go broke.
Backtesting: The most decent robots are tested thoroughly, against real tick data, real slippage, and variable spreads. You can rely on the backtests before purchasing a service. To know about the current performance of the robot, you can visit third party sites like Myfxbook and go through real-time data.
Reviews: You need to keep in mind that there would only be positive feedback on the developer’s site. So, it is important that you check other sites as well. Also, make sure to compare reviews with genuine users before you decide to invest.
Demo account: Trading is always full of risks, especially for the beginners. A demo account that does not require real money can be really helpful to get the hang of trading without risking anything. So, before you choose a robot, check if it offers a demo account.
Here is a list of the best forex robots for you to choose from:
The best Forex robot available today is the 1000pip Climber system. This is the highest rated Forex system on TrustPilot and has years of independently verified performance statistics. The performance of the system has been outstanding but the key thing that make this Forex robot head and shoulders above the competition is that you also get full support from the professional trader that developed the system. The extra support will enable you to maximise the performance from the system and get the best results.
eToro is the best option for copy trading. It is also the most popular social trading platform in the world. The robot makes trade related decisions depending on statistical analysis and allows traders to monitor the trades of pro traders. Whether you are a novice or an advanced investor, it can provide you with the features and functions you need to improve your game.
Forex Gump allows traders to set their trading preference to low, medium, or high risk. Just keep in mind that depending on your choice, the results of your trades would be affected. This robot runs on nine currency pairs and helps traders to track news, trends, and prices. The best part of it is that it offers a money-back guarantee.
Combining three independent trading systems, this robot provides a self-updating algorithm with a profitable 40+ recovery factor. By using this EA, you are provided with real-time calculation with the option of trend retrace, countertrend, or countertrend scalping in a combination or independently, you can expect your success rate in trading to go higher.
Some of the other great forex robots include GPS Forex Robot, Learn2Trade, CryptoRocket, Coinrule, and Wallstreet Forex Robot.
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Finance.
Algerian Economy: Staying the Course for Transition.
Algeria’s economy continued to recover in the first half of 2022, led by a return of oil production to pre-pandemic levels and a continued recovery of the service sector along with a more vigorous agricultural activity. The recovery should continue into 2023, supported by the nonhydrocarbon sector and public expenditure growth, according to the latest edition of the World Bank’s Algeria Economic Update.
The update is part of a series of twice-yearly reports analyzing Algeria’s economic development trends and outlook. The analysis in the latest edition is based on economic data from the first quarter of 2022 and proxy data, such as nighttime lighting and employment opportunities for the second quarter of the year.
External balances recovered and continued to grow on the back of higher global hydrocarbon prices. After growing by an estimated 59% over the first six months of 2022 and peaking in June, the average price of Algerian hydrocarbon exports lost around 26% in Q3-2022. External balances were also buoyed by a notable rise in non-hydrocarbon exports. Algeria’s terms of trade also improved as the dinar appreciated relative to the U.S. dollar and the Euro.
Yet Inflation remained high—9.4 percent year-on-year during the first nine months of 2022—notably led by the global rise in food prices (which increased by 13.6 percent in Algeria), poorer households being the most impacted. The authorities responded by intensifying measures to protect the purchasing power, primarily by increasing civil service salaries, introducing unemployment benefits for young first-time job seekers, and strengthening subsidies for basic foodstuffs.
The report cautions that this level of spending could lead to challenges over the medium term if world oil prices fall, thus reducing government revenues, and structural reforms as outlined in the Government Action Plan to promote private sector investment will be key to creating jobs.
“ It is critical to stay the course ,” said Kamel Braham, World Bank Resident Representative in Algeria. “ The implementation of Government Action Plan measures to increase mobilization of tax revenues, more efficiently use public resources, and promote private sector investment is essential to navigating the global challenges safely and put Algeria on the path of a sustainable and inclusive growth .”
The World Bank’s Economic Update projects Algeria’s economy to grow by 2.3 percent in 2023. Yet the macroeconomic outlook remains vulnerable to fluctuations in global hydrocarbon prices. In the medium to long term, the report says, the non-hydrocarbon private sector must become the motor for Algerian growth and diversification of the economy.
Continued implementation of government structural reform programs, creating greater openness to the private sector, improving the economy’s competitiveness, and strengthening investment in human capital are all essential to the flourishing and resilience of the Algerian economy.
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