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What is a Forex Robot?

Discussion in 'Forex Discussions' started by jamiebrwn, Feb 22, 2011.

  1. jamiebrwn

    jamiebrwn New Member

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    Occupation:
    currency trader
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    Reno, Nevada
    Forex Robots or expert advisors are scripts coded with automated forex trading strategies. You import the scripts into MetaTrader platform and your robot will enter/exit trades for you automatically 24 hours around the clock. As such. you have to always leave your pc on. If not, you can host your forex trading robot on a VPS (Virtual Private Server). Some traders prefer to use automated trading robot as their sole trading system and others using it to manage part of their portfolio. How well forex robots work depends on the adopted strategies and money management system. To understand how well your forex robots work, you should ask or backtest the robot software. You will get a better idea on their performance (risk/reward ratio, consecutive wins and losses and etc). Above are some of the best forex robots around. We have done detailed reviews on them to help you understand more.
    Forex robots
     
  2. jamiebrwn

    jamiebrwn New Member

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    Occupation:
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    Systems of signals

    Robots working through these systems of signals serve as Forex EA or foreign exchange expert advisors to many investors. Because these automated robots calculate the present conditions of the world market without requiring manual intervention, traders are assured that the system only yields universal and dependable recommendations. Through this, companies are able to forestall losses involving large amounts of money and make profits to easily make up for their past little shortfalls.
     
  3. jamiebrwn

    jamiebrwn New Member

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    One of the best ways

    Forex trading is one of the best ways anyone can make money online, but just as the rewards are mouth watering so are the risks neck breaking, but those with the passion for creating wealth constantly overlook the risks and concentrate more of their energy on how to maximize the rewards of Forex trading. As a result of this drive and passion, the automated online trading on complete autopilot was borne.
     
  4. jamiebrwn

    jamiebrwn New Member

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    Occupation:
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    Make money

    Recently, there has been a lot of talk about forex robots as to whether or not they actually do what they say and make money, or whether they’re just a very elaborate financial scam. In today’s troubled economic and financial times, many people are looking for an easy way to get rich, or even to make end’s meet. However, this also makes those same people very easy prey and targets for scams. As an investor, you should be very careful in what you put your money into.
     
  5. Octavio

    Octavio New Member

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    Forex Robots are the automates system which can work and control your Forex trading with set of parameters defined by you or the system developer.By using robots you don't need to worry about your business daily operations and you can have time for your personal activities.
     
    #5 Octavio, Mar 22, 2011
    Last edited by a moderator: Mar 22, 2011
  6. trademanagerpro

    trademanagerpro New Member

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    A forex robot is a piece of automated forex trading software that automates trading decisions. The most popular robots for retail traders are built around the Metatrader platform. These robots run on metatrader as "expert advisers" and they can do anything from giving you a signal to place a trade, to placing and managing the trade for you automatically.:smile2::smile2::smile2:
     
  7. mak123

    mak123 New Member

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    Thank you for this valuable information ...about forex robot.
     
  8. orni308

    orni308 New Member

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    very informative forum, but i dont like using robot's............
     
  9. vic84

    vic84 New Member

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    robots are systematized programs meant for trading, they are good but sometimes might endup fixing a wrong trade........
     
  10. Mirkinbar

    Mirkinbar New Member

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    is it different from automated trading or signals trading?
     
  11. rrayne20009

    rrayne20009 New Member

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    why does almost every traders advice newbies to use manual not EA?
     
  12. orni308

    orni308 New Member

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    to use and EA you have to get some market experience, EA's are good in normal market situation, but when its get volatile, EA's might not work according to the situation, it needs fine tuning regularly.
     
  13. platinumtraderfx

    platinumtraderfx New Member

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    If you don't understand the principle of EA then forex will turn to risky gambling for you. I don't use any EA on my Hotforex platform and try only manual trading, where I can entirely control my trading..
     
  14. jologs

    jologs New Member

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    an EA is basically a program that does the trading for you acording to certain conditions. simple, but not easy, its kinda hard
     
  15. tianxiabachang

    tianxiabachang New Member

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    Forex robot trading automatically according to the paramters set by you in advance, you are free from watching computer or mobile, but it's difficult for beginner to make profit.
     
  16. vic84

    vic84 New Member

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    Robot is a fine tuned program, your should be very careful while choosing a robot as it trades on a fixed program and you might find a situation where robot doesn't comply to market movements.
     
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