subject: Forex Robot Software - Just Another Hype? [print this page] For anyone who are into forex trading, automated trading system is very appealing since with the right system, you can leave it be and watch your account grow. In most cases, obtain this "right system" is the biggest obstacle.
Until recently, the only way to own an automated system is ask an expert trader to trades for you. Today, the forex industry offers a better solution: the forex robot software. A robot is a software that created to identify a potential profit at the market movement and execute the order without your interference at all. It is sound too convenient that some people think that it is a scam.
Is it a scam? Is it possible to build such software that can beat the fluid forex market? I would not say "beat" since it means you will get 100% winning trades from it. However, it is highly possible to create such software if the creator has a system that works to back it up.
How to identify a trading system that works? Simple; after accumulate all the winning and losses trades, you will gain profits at the end of the month. If you have tried forex trading and found that at the end of the month you loss more than you gain, I'm 100% sure that you are in the wrong hand with the wrong system.
Every successful trader has a system that work for him to gain profits without fails. This system consists of proven strategies that can be used over and over again at different time as long as it is executed with discipline. After all, no trader can make profits if they are affected by emotion such as greed or anxiety.
Based on those facts, it is absolutely possible to interpret this system into a set of rules and apply it to create a powerful forex robot software. Equipped by a system that works, the robot will carry it without exception; basically it will working like a clockwork by creates profits for you on regular basis.
These are the benefits of using a forex robot software:
1. No Emotion to Disturb The Job
The software will not feel any fear when the market is against it or greed when the market moves in its favor. Instead, it will make entry and exit as the rules said with proper risk management.
With that trait, a forex robot will not have doubt to execute a stop loss order instead of begging the market to turn into its favor. At the same time, the robot doesn't have greed that delay it from closing a profit position.
2. Low Cost Automated Trading System
A forex robot software doesn't need to feed its family, going on vacation, commissions, or any other things that a human trader needs. If you have a large trading company that employ professional traders, you cannot accept small fees for each trades; it just don't makes business sense. Using a robot will cost you far less than using a trading company.
3. Works 24 Hours
If you put it in a 24 hour server, it will keep working on analyzing the market and makes profitable trades for you 24/5. This ability creates various chances to spot every little movement in the market that potentially profitable. A human trader will collapse if he tries to compete with a robot in this area.
4. Leave All the Hard Works to It
Like any other forms of automated trading system, you can just let the robot do all the work and wait the money to roll in. If you are creative, you can even tweaking your robot so it can earn more profits.
5. No Risk Involved
Most of the good forex robot software comes with 100% money back guarantee. During this guarantee period, simply create a dummy/practice account and test the robot. If by the end of the period, it doesn't do very well, you can always ask your money back. If by chance you are not satisfied with this test, you can always do a back test by using previous market data.
With a human trader, you cannot just ask: "Hello, I have created a practice account. Would you use it for two months so I can measure your trading skills?"
Conclusion
Forex robot software is a revolutionary method in forex trading. It is not a scam as long as it has proven system behind it and you can test it easily. In my opinion, it is also the best ways to go no matter you are an investor, new trader, or experienced trader.
