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Most wanted forex robot

Started by Admin, Oct 11, 2023, 09:26 AM

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Topic keywords [SEO] ForexRobotScalperstrendlines


Today everyone has a real opportunity to earn money on the foreign exchange market. Many people are familiar with the attractiveness of trading as a remote job; the opportunities for income are practically unlimited. In order to help traders and investors people started creating a lot of different programs that facilitate the process of trading. The most popular and effective in use are robot trading systems. Forex robots are integrated into the MetaTrader 4 trading terminal (5) and are linked to a specific schedule. These programs work in two modes: informing about the possibility of making a trade and making transactions automatically on the trading account directing them to the trading server.

Modern robots are written and sharpened for a purely individual strategy of the author, sometimes designed even for the amount of the supposed deposit such as the account and character of its owner. Indeed, a high-quality adviser is not a commercial program replicated into multimillion copies. Today you can easily download a Forex robot for free but a free program from an unknown, anonymous author is unlikely to bring any income. The best Forex robots are programs from reliable, acknowledged developers (analysts, programmers, traders).

The final stage before using advisers is to set them up and determine the right direction of work. To understand the most important parameters, to make their correct settings you will need help from technical support operators as well as numerous, simple and understandable sets of instructions embedded in the archive with the program - they allow inexperienced traders to make their trade profitable and efficient in the shortest possible time. Specialists of the company should constantly monitor changes in the world economy and the foreign exchange market creating new versions of programs and adjusting settings based on recommendations.

By the type of strategy used, trading robots are classified into: scalpers, trendlines and programs running on pending orders.
  • Scalpers - profit is achieved through opening a large number of transactions, each of which is closed immediately after receiving a minimum income. These programs are attractive enough for a large number of traders; however, not all brokerage companies allow their use.
  • Trend robots - one of the most wanted Forex robots and reliable options for trading; they carry out the forecast of the price movement on a currency pair through an in-depth analysis of the market. Also, it opens trades only in the corresponding direction.
  • Robots trading on pending orders set several orders at once, which are triggered when certain conditions are met. These experts need constant monitoring by a trader as they do not always manage to work when the current situation on the market changes.

A trading robot, especially if it is fully automatic, is capable of both making a good profit and draining the deposit down the pipe in a couple of hours if anything goes wrong. In general, we can say that trading systems have multiple strengths and weaknesses. For example, the first include the following:

  • Absence of feelings and emotions. Robots do not get tired, do not express inattention, they do not know the feeling of greed or euphoria. Even if the desired signal will not come up for several days, a robot will wait for it and act as it was originally built. Traders, of course, struggle with that. Likewise, a robot cannot give out a forecast or open a position simply because it wanted so or because of intuition, which automatically reduces the percentage of losing trades.
  • A robot is able to follow several markets or assets simultaneously and each of them will be given due amount of attention. A person is unlikely or able to fully control more than two or three assets at once.
  • The speed of decision making is much higher than that of humans. And this, of course, leaves an imprint on the trade, where sometimes everything is decided in a matter of seconds (scalpers will understand).

As you can see, the advantages are rather weighty and clearly deserve attention. But the drawbacks include:

  • Absence of vision of the overall picture of the market. A robot operates only within the framework of the algorithm embedded in it and it cannot in any way evaluate the political or social factors that, as you probably know, have an extremely strong influence on the assets. Automatic systems are all about purely technical analysis of assets, which reduces their abilities.
  • It is extremely difficult to create a good robot that can really bring a stable profit; that is why they are worth their price.
  • Malfunctions and errors - like any other program, a trading advisor can fail or shut down altogether. And it is all right if this happens when there are no current positions but the problems begin when there are several open trades in the terminal. It is indeed unpleasant to be forced out of the market because of problems with the program. And in fact, these robots are created people who are prone to make mistakes. To conclude, we can say that Forex robots are a very ambiguous thing so you should use it only at your own risk.