Learn To Trade
Forex robots are among the advantages and disadvantages
08-01-2018 | No Views : 295
Forex robots are one of the methods used by traders in Forex trading, as the robot instead of the trader to execute orders to sell or buy and exit transactions automatically without human intervention, but remember that the process of obtaining good Forex robots needs a lot of research, Is not the easy process because of the spread of bad robots that cause loss of capital or make profits unsatisfactory compared to risk.
On the other hand, if you get a good performance Xpert, it is helpful for many traders who have trouble adjusting emotions during the trading process. Forex robots help the trader who has difficulty adjusting his feelings, making him enter trades based on feelings of fear or greed. Cause losses.
Exerts operate without the need to monitor them and do not require human intervention. As mentioned above, they carry out deals based on mathematical equations using old prices to filter the opportunities and choose the best opportunity to enter.
Which controls the result of trading, whether profit or loss is the quality of the equations on which the robot was built, as there are lots of free and paid Forex robots, but do not give good results and may cause the entire capital because of weakness of the robot does not work according to good capital management , Or despite the existence of good risk management, but he used bad equations using indicators that are unable to determine the future price movement well.
Permitted changes for Forex tradersAlthough Forex robots are produced by a programmer who is often the only one who controls the modifications that can be made to the robot through the code, it leaves some of the options for the trader to be a robot that is compatible with the risk management of the store and its style of trading, including:
- Determine which pairs are working.
- Determine the size of the lot in advance in line with the capital management.
- Determining when to trade.
- Determine the minimum profit and risk.
Advantages of using Forex robotsDespite the risk of using low-performance Forex robots, the good robots have advantages that facilitate the trading process, including:
- Forex robots are trading without feelings. The problem of controlling emotions is a barrier for many traders. It is possible to see a trader who is analyzing the market well and identifying good entry and exit points for the trades, but not controlled by feelings of fear and anger causing losses. Solve such problems.
- Many traders do not have time to analyze and trade, and here is the advantage of Forex robots that do not need to monitor all that is required to control the robot and run and leave it to do the trading for you.
- Forex robots can be used on more than one account at a time.
- Forex robots also give you an option to limit risk.
Trading risks depending on Forex robots
- Difficult to get a good robot, since it is possible that the results of the test is good on the test bag, and when the start of trading the result is unsatisfactory because of the inaccuracy of the data used in the test and different from the real data.
- The robot may be good if there is a clear trend, but it is performing poorly with fluctuating prices.
- In contrast to the above, there are lots of Forex robots that give very good results in the event of fluctuating prices, but when the direction is clear, the results are not satisfactory.
- A virus infection with a virus may cause random commands causing a loss.
- Most Forex robots do not work at the time of important news and economic data.
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