What is a Forex Robot?
Posted in Forex Blog
Automated or automatic forex can be defined as the ability to trade forex with the use of a trading program or forex trading robot , without needing a human to physically trade a forex system. With forex, automated trading is an emerging field that began not that long ago.
There are 2 general categories of automated trading:
1. Automated trading through managed forex . Some, though not all, forex managed accounts are traded via automated forex. In either case, the trading is passive in that you don’t have to do it. But in the case of automated forex, the trading program or robot executes the trades of their trading system, rather than a human team.
2. When you program your own or someone else’s forex system into a program with programming and automatic trading abilities such as WealthLab , or other trading program. Wealth Lab required programming skills (the programming language used is similar to Pascal), while other programs just emerging that will allow you to select parameters and test your system performance.
Forex Robots
Using forex robots in this age has become a fashion for online traders. It could be use as another effective tool to minimize risk. But it is not the 100% solution for 100% effectivity. A trader should spend at least 6 hours of his time daily to make any automated tool the reason of trading success!