Trading foreign exchange has long been considered by people as a quick gateway to earn money. And while it’s far from the truth, people generally don’t think about the pitfalls and risks when they invest in foreign exchange trade. Now, there are a lot of tools and mechanisms available which help traders further their profits or provide a boost to their trading skills. Out of the many trading aids out there (such as indicators, analytical tools, charts etc.), expert advisors or ‘trading robots’ are one of the most potent ones present on platforms. What are these robots? These are basically systems which are programmed to carry on trading in an automated manner and to identify the correct trading conditions and take profitable positions for each trade. The benefits of robots are numerous as explained in detail below: (points from
1. A forex robot can carry on trading at all times of the day during which the markets remain open. Unlike humans, who have other activities and obligations in life to take care of, robots don’t need to visit the washroom or leave for their jobs; or tend to their family’s needs. So, they can trade on at every second of the operation hours of the foreign exchange market. These programmes trade without a pause. Forex robots are mostly programmed to keep track of movements in the market with minimum restrictions. It follows a set of programmes and rulebooks ingrained into its systems which can help it to read the indicators and price action. Upon identifying a situation appropriate for taking a trade position, the robots automatically execute trades.
2. It is not vulnerable to emotions. Unlike humans who might be tempted to take a risk or two in unsuitable conditions, robots are not given to such sways. They assume positions only when the market condition seems correct. That is, when they successfully tick all the boxes which come under ‘suitability for trade’. They only trade within the spread and hence are able to squeeze out profit worth at least a few pips. And as mentioned before, they trade at all the market hours, so the cumulative profit would be quite a bunch. Robots being robots are bound by wiring and programming, which do not allow them to deviate from the system signal commands.
3. A primary advantage of using forex robots is that they can run back tests on the trading platforms. Running back-tests over past trading conditions (allowed up to a period of one year by most trading platforms) help a trader to understand the machination of the market better.
4. Humans, because they are humans, take some time to identify the tread in a market and to analyse and decide on whether a condition is ideal for trade. But robots, being automated systems, would only take a few seconds to process market and chart information and take the appropriate position as dictated by the signals. This means that the speed of a robot enables it to take trading positions much before the prices slide past the ‘take profit’ or ‘stop loss’ points. This is obviously hugely beneficial to a trader because it ensures profits. Also robots would be able to take positions on a trade at a point where one position would create similar other positions at the same time in the market, thus magnifying the chances for trade.
5. Last but not least, a robot can read more than a single chart and trade in more than one market at the same time. This is something that human traders would never be able to do.
These are the chief reasons why some people prefer to trade with robots instead of busying themselves.
Wed Nov 09, 2016 8:11 am
Cash: $ 5.65
Joined: 30 May 2016
I have actually earned a good income over the last 12 months from Forex trading! I've never tried any forex robots I will be honest. I've been using Forex platform with great success. It's worked well for me.
Wed Nov 30, 2016 12:52 pm
aekleydarel New Poster
Cash: $ 0.40
Joined: 05 Dec 2016
If you are looking for an investment option that has the capacity of generating handsome profits, you may consider binary trading options. Many people are coming to the understanding that this kind of trading offers great returns within a short period. However, this investment is not devoid of risks and this explains why investors need to be guided properly to avoid making losses. Therefore, binary option brokers' are recommended highly. These brokers have many years of experience. They provide their services at an affordable fee to help investors buy and sell assets. Beginners are likely to get discouraged because of the complications associated with this type of trading. However, with patience and the assistance of an experienced broker, they will be able to reap the benefits.
Mon Jan 09, 2017 9:01 am
moneytrader New Member
Cash: $ 0.65
Joined: 09 Feb 2017
Forex and binary options robots (or auto traders) does not work and they never did. Trading robots are usually created by unregulated brokers to steal money from traders..