Forex trading robots - how to choose?
A tool such as a trading robot is designed to automate the actions of a trader. The adviser integrates with the trading platform, working on the specified parameters of technical analysis. When developing an adviser, a leading technical indicator or group of indicators is taken, whose work is automated up to the self-fulfillment of transactions by the program itself.
Such an adviser can either facilitate the work of a trader or bring it to full automaticity. These programs can themselves determine the best time to enter the Forex market and exit from it, making profitable trades.
Trading robots can be conditionally divided into:
- Automatic: the trader's participation is reduced to the minimum lot settings, risks and management;
- Semiautomatic: the decision on the deal remains for the person, and it relies on the results of the analysis of indicators by the advisory program;
At the heart of the robots can be trend indicators, oscillators, scalping, indicators of the doubling system and many others. Some advisers hold all several strategies simultaneously, others can work with several currencies at the same time - the market offers a variety of robots with a variety of options and capabilities.
Assess how great is the flexibility of your potential advisor. Buying a robot, you will receive a detailed instruction on how to set it up and work with it. Most of the advisers can work simultaneously with their fellows, which is also very important.
The robot-adviser is not subject to psychological factors, and therefore for a trader who is in a bad situation with self-control, he is simply necessary. But no matter how objective the robot's activity, it is standard, and the market is an unpredictable thing that requires a comprehensive analysis.
Unfortunately, robots can not distinguish between trend and flat, and this can lead to huge losses of money. Also note how often the developer updates his program, because there is nothing worse than an outdated advisor.
We advise you not to be guided by free advisers, remembering the rule of the mousetrap. A good robot should not be accessible to any person.
For your convenience, most robots have a sms or an alert function, so you do not miss out on the most important things.
A fairly experienced trader can create his own personal program, which will be tailored to his particular strategy, significantly saving the trader's time in the future. But do not give the fate of the deposit entirely in the hands of an adviser, it is better to constantly monitor his actions and make a final decision on his own.