subject: Forex trading technological evolution to generate profits [print this page] Forex trading technological evolution to generate profits
The Forex markets as other markets have changed and it now seems that humans do not run the show anymore. Computers now decide when to buy or sell and in the end the direction of the markets. The trader who tries to go against these Forex automated trading systems is at a huge disadvantage. To level the playing field a trader by obligation needs a Forex robot.What are Forex Robots?
Robots are automated Forex trading systems that are programmed to pick potentially profitable trades on currency pairs(i.e. Euro-Dollars) based on criteria that is written in its software that results from analyzing market conditions, movements and many technical factors that trigger the trade, either buying or selling and then executing the reverse trade to lock in a profit when the indicators signal it to.Why would you want to use a Forex Robot?
Can trade 24/7 does not need to sleep, dinner or bathroom break. The Forex trades 24 hours; a good trade might be at 3:00 AM.
Its is programmed in logic, emotions are not a factor.
It can analyze and act on far more variables more quickly and execute those orders faster.
It has nothing to cloud its judgment, a trend is trend and support and resistance means just that.
Trades are based on programed criteria ans there is no hesitation entering or exiting trades.
It has the ability to react to changing conditions quicker.
Does not suffer from fatigue and its not distracted.
Sticks to the rules, there are no exceptions.
Its biggest advantage is that its not human.
I might have gotten carried away why Forex Robots make a good investment. Human emotion and clouded judgment are one of the main reasons traders fail. Not the lack of knowledge but a lack of disciple and following the rules. Take that away with the same mix of fundamental and technical analysis and you improve your chances tremendously at being a successful Forex trader. Besides do you want to sit at a computer 24 waiting for a trade to happen? While you sleep and eat and take care of other need, the Forex Robot can trade for you.
There are good and bad Forex Robots that perform automated Forex trading, some of the key points to look at when buying one are:
Its performance history.
Has it been able to consistently make profits in all market conditions.
What are current user saying about it.
You can succeed with Forex trading and start making killer Forex profits. You just need to get tools that will give you the best chance.It has become more and more significant to be able to adapt new technology and stay ahead of the curve.
