In this article we are going to take a look at the XAUBOT AI and the recommended settings for leverage and various other recommendations by the XAUBOT tools in order for it to run smoothly and be executed in the best way possible.
One of these requirements or rather recommendations is concerning leverage and the proper use of it in order to enhance the performance of XAUBOT. We will focus on the recommended rate for this leverage and also take a look at the pros and cons of using this concept with this particular expert advisor.
Recommendations of Using the XAUBOT
As we discussed a little bit in the introduction, XAUBOT is of course a method of automated trading in the forex market. But that doesn’t mean you cannot and should not do anything to enhance your experience in using this expert advisor.
Aside from the many amazing features that are offered through this expert advisor, XAUBOT recommends certain steps that can substantially improve the performance and thus your experience of using this expert advisor.
Choosing a Good Broker
One of them is using a good broker. Although there are no limitations as to which broker you ought to use with XAUBOT AI and it is in fact compatible with all brokers, there are certain brokers that are recommended by XAUBOT. This recommendation does not have to do with any sort of affiliation whatsoever. The only thing that you have to keep an eye out for is the spread that is offered to you through the broker.
IC Markets, Pepperstone, Tickmill, RannForex, XM, FIBO Group, Coinexx, RoboForex, ThinkMarkets, Vantage, Oanda, MexAtlantic, Windsor, Exness, FXCM, 8Cap.
With Proper Rates of Spread
If this spread is too high and unreasonable, then it can easily damage your profit margins. So this is why one of the recommendations in using XAUBOT is to pick a broker that offers reasonable rates of spread.
Using a Proper VPS
Another recommendation is the use of a proper VPS. A VPS or a virtual private server is a way for you to install your trading platform and by extension your expert advisor on a remote server, one that is different from your own personal storage space on your personal computer.
In this way you are provided with the safety and security of a remote server, such as constant access to a power source and also constant access to the internet, both of which are required for the consistent running of your trading platform and ergo the automated trading tool, XAUBOT, that you have installed on it.
Yet another way for you to improve the performance of XAUBOT which is also recommended by this platform is the use of leverage.
You see, the minimum required deposit for using XAUBOT is nonexistent. This means, unlike some of the other expert advisors that are offered through this platform, XAUBOT does not have any limitations. So users can begin using this tool with however much money they have. Now this trading capital might not be much. But with the use of the proper rate of leverage, it can amount to a substantial trading capital that can yield considerable profits for them. This is why the use of leverage is recommended with XAUBOT.
What Exactly Is Leverage and Why Is It Important in XAUBOT?
So what exactly is leverage? In essence, leverage is trading with more money than you actually have. And this extra money comes directly from the broker. But this money is not just given to you without any guarantee. You have to put up a margin in the form of collateral.
This way by having a certain level of account deposit which makes up your account margin, you can receive multiple times your original deposit. In this way you have a much higher chance of increased profitability.
The recommended rate of leverage for using the XAUBOT is 1:200. This rate means that for every 1 unit of an account’s base currency, you can receive up to 200 times that. So for instance, with an account balance of only $1,000 you can trade in the forex market, or rather have the automated trading tool XAUBOT trade in the forex market for you with a whopping $200,000.
You can see how this way, your chances of profiting in the market are much more than if you had traded with your own original account balance.
Advantages and Disadvantages of Leverage?
When it comes to using leverage in forex, there are certain pros and cons. The pros are rather clear, as having more money very clearly correlates with higher chances of profitability.
This gives you a great chance of having access to a better chance to yield considerable profits, even if your starting account balance does not amount to much.
This is precisely why it is recommended that you use a leverage of 1:200 with XAUBOT.
But of course there could be some downsides as well with using leverage. One particular downside is that with increased chance of profitability, there is also a higher chance of loss. There are risks associated with losing your margin if trading does not go well in the market. And of course with leveraged trading, you do not lose the leverage that you receive from the broker, you only lose your margin which is your own original account balance.
This is why it is recommended to be very careful while using leverage. And what would be more careful and calculated than to use leverage with an intelligent and automated trading tool such as XAUBOT?
Conclusion
XauBot AI is one of the expert advisors offered through the trading platform XauBot. Although it does not have any limitations with respect to the minimum amount of account deposit, it is recommended that you use a rate of leverage of 1:200 in order to increase your chances of profitability in the market.
