cTRADER AUTOMATE
Frequently Asked Questions
A cBot analyses the indicators or the other parameters that it was
programmed to use and once the predefined rules are met, it takes a particular action, such
as entering, exiting or modifying a trade.
For example, if you are using a cBot that trades breakouts, your trade
will be entered when the price breaks above a resistance or below a support level. Apart
from rules for identifying trading opportunities, a cBot typically contains parameters for
managing open positions such as Stop Loss/Take Profit Levels, trailing stops or other risk
management features.
Yes, your MQL4 indicators and Expert Advisors can be converted to C#,
for use on Exoxtend Trades cTrader. Please contact a consultant from the cTDN
community, who will be able to do this for you.
There is no best way to select a cBot, but it’s advisable to do your
research first. When you are downloading a cBot from cTDN, you can get a good idea about how
it works by viewing the developer’s description which includes characteristics and tips
about its usage.
Traders usually select a bot that suits their trading style, so if for
example, you prefer trading with Fibonacci ratios, you may choose a Fibonacci cBot, and if
you are into news trading, you may choose a cBot that trades when there’s an important
economic release.
In cTDN, you can also rank cBots according to popularity and user
rating, so this could be another deciding factor, especially if you are a beginner.
Once you download the cBot file, you will have to run and install it on
your computer. You should then be able to view it on Exoxtend Trades cTrader, at the left
side of your chart under the cBots column. Once you define which instrument you'd like
to run it for, click the “Play” button. The cBot will start working when the right
conditions are met. Please note that you can stop it anytime, just by clicking the “Stop”
button.
Yes, you can run multiple cBots at the same time and for the same
instrument.
If you have a specific trading strategy that you follow and has been
proven effective, then it might be a good idea to automate it. It’s important that your
strategy is simple enough and that you are clear about the set of rules that your bot is
going to be built on.
If you have no coding experience yourself, you may opt to hire a
developer from the cTDN
community. Please post your request at the forum or contact one of the expert
consultants.
Trend indicators that are smoothened or combined versions of the
standard version, such as MACD, RSI, Heiken Ashi, Ichimoku and more.
Adjusted formulas of standard Volatility indicators such as Bollinger
Bands, Donchian channels, Keltner channels, Average True Range etc.
Multiple other custom indicators that are based on Support &
Resistance, Pivot Points, Harmonics, Polynomial Regression, Fibonacci etc.
Your live trading account can be up and running in less than 2 minutes.
Please follow the steps below:
- Step 1. Create Account.
- Step 2. Fill in your email, password and phone number.
- Step 3. Launch the platform and fund your account to start trading!