subject: The New Forex Trader Best Weapon Nowadays Is A Robot.. [print this page] It now seems that the world markets are not run by humans anymore, this holds true for the Forex market also. Computers now establish when to buy or sell and in the end the direction of the markets. Manual systems are a idea of yesterday and unless a trader is using the latest technology is at a disticnt disadvantage. To level the playing field a trader by necessity needs a Forex robot.
Forex robots, what are they?
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 elements 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.
What are the advantages of using a Forex Robot?
Forex markets trade 24 hours, Robots can trade continuously and can enter a trade when the trade would usually be asleep, such as 4:00 AM.
Emotion is not a element factored into the software this avoids a disaster.
It can analyze and act on far more variables more quickly and execute those orders faster.
It coldly looks at variable such as support and resistance and does not pass judgment or second guess.
Trades are based on programed criteria ans there is no hesitation entering or exiting trades.
It has the capacity to react to changing conditions faster.
It does not get tired. or bored
It does not break the rules just once.
Its not human which is a strong plus.
The above may have bee exaggerated, its to make a point. Human emotion and clouded judgment are one of the main causes traders fail. Not the lack of knowledge but a lack of disciple and following the rules. Armed with the same technical and fundamental analysis knowledge and removing human emotion results in a profitable Forex trader.. Another factor is that its not practice to sit at a computer 24 hours a day waiting for a trade. Forex Robots will mind the store while you sleep and take care of human necessities.
You need to be discriminating when purchasing a Forex robot that will perform the automated Forex trading for you. I would look at:
Past performance and results.
Has it been able to consistently make profits in all market conditions.
What are current user saying about it.
You can make killer Forex profits and be a successful Forex trader. Forex robots level the playing field.
In the end the trader that will survive is the one that evolves with the technology.
