Forex Pro Island Bot FAQ
The Forex Pro Island Bot is currently regarded as one of the most reliable autotraders for FX around. However, people do seem to have a lot of questions, which is what this Forex Pro Island Bot FAQ is all about.
Does The Software Set Stop Loss Automatically?
This is one of the really nice aspects of this particular piece of automated trading tech, that it automatically sets stop loss levels. This app uses an advanced algorithm that consists of several forms of market analysis to find the best stop loss levels for each particular trade. This means that you don’t have to figure out your own stop loss levels. Moreover, this allows you to recoup a lot of cash in the event that a trade starts to go south.
What Is The Minimum Recommended Balance To Use This Software?
At the very least, you do want to have $150 in your account to use the Forex Pro Island trading system. This amount of money is fine if you want to start small and engage in some easy low risk trading. However, if you want to step things up a bit, increase the risk level, and make a bit more money, a minimum account balance of $500 is recommended. For the best results, so you can trade at high volumes, you may want to consider investing as much as $1,000 from the get go.
Can I Run All 6 Forex Pro Island Bots Simultaneously?
So, an important thing to know here is that this software actually comes loaded with 6 different bots. Each of these bots is designed to trade one specific currency pairs. Therefore, the Forex Pro Island Bot has the ability to trade 6 different currency pairs at the same time, the most profitable currency pairs of course. Now, you can choose to let 1, 2, 3, or all of them run at the same time. People, if you want to trade all available currency pairs and make a lot of money, you can absolutely allow all 6 of these bots to run at the same time.
Will The Forex Pro Island Bot Automatically Close Trades?
Yes, this is another great aspect of the Forex Pro Island Bot, that it will close trades all on its own. This is a big part of any automated trading system like this. Using a series of analysis tools incorporated into an advanced algorithm, this software picks all of the best take profit levels for you as well as the stop loss levels too. When this bot hits the set stop loss or take profit levels, it will close the open trade all on its own. In other words, it does all of the heavy lifting and hard work for you, always closing trades when it is best for your bank.
Can I Close Trades Before Take Profit Level Is Achieved?
Many people are wondering whether or not it is possible to close trades manually before the take profit level is achieved or before the stop loss level is achieved. The answer here is yes, you can manually close any open trades before the stop loss or take profit levels are achieved. Moreover, let’s keep in mind that the Forex Pro Island Bot has multiple take profit levels, so you can set which of these levels to hit before the trade closes, or you can close them manually too.
When Should I Turn The Forex Pro Island Bot On?
There is a right time and a wrong time to trade with this particular software. Now, first off, the Forex market is closed on the weekend, so it is pointless to have the bot running on Saturday and Sunday. That being said, the FX market is open on all 5 weekdays, so this is when you want to let the bot run. It is recommended to let this bot run 24/5 for the best results. However, with that being said, Mondays and Fridays can both be quite risky. If you want to engage in very low risk trading, running the bot on Tuesday, Wednesday, and Thursday is recommended.
Can I Use This Software With MetaTrader 5?
The Forex Pro Island Bot is designed to be used exclusively with the MT4 or MetaTrader 4 platform. This is a very high quality day trading platform which many people are used to. However, that being said, there is a newer version of this platform, the MetaTrader 5 platform. Unfortunately, the Forex Pro Island Bot is not compatible with the MetaTrader 5 platform.
Which Operating Systems & Devices Can I Use This App On?
Something that also comes in handy with this particular autotrader for FX is that it works on all major operating systems and device types. In other words, the Forex Pro Island Bot works on computers, desktops, and mobile devices. It works very well on both MAC and Windows operating systems, and in terms of tablets and smartphones, it works on both iOS and Android. In other words, this software can be used whether you are at home or on the go, a big time convenience factor no doubt.
Is This Software Available Where I Live?
The chances that the Forex Pro Island Bot works where you like are almost 100%. This bot is available in more or less every country worldwide and this includes USA, UK, EU countries, Canada, Australia, Singapore, as well as Asian, African and Middle East countries, and all other countries too.
How Much Does The Forex Pro Island Bot Cost?
This piece of day trading tech will run you a cool $299. This is a very low price for something that can put thousands of dollars in your pocket on a daily basis. Moreover, this is a onetime payment with absolutely no hidden or additional fees.
Forex Pro Island Bot FAQ – Final Thoughts
When all has been said and done, we hope that we have been able to answer all of your most pressing questions about the Forex Pro Island Bot. If you have any more questions, feel free to ask!