What is Forex robot ?
Forex robot or expert advisor is a trading program that can apply in trading terminal especially in metatrader 4 and metatrader 5, this program will take over the trader's role. All the trader's job will take over by expert advisor automatically, so foreign exchange robots are also named mechanical trading system. You just plot it in your trading platform, and the program sends trading activities to forex broker automatically without any involves from forex trader. All traders do just set the program into robot and run it then the forex trading robot will start to trade with programmed system in it.
Is there any benefits if you are using this forex trading robots ?
Robot trading does not involve psychological things and stress impacts. Trader's responsibility for making trading decision is reduced. The traders don't have to understand the fundamental and technical analysis because the systems are already in the program.
Metatrader 4 trading robots are made in the MQL4 program. This MQL4 language lets you write any system in a program language. But you need familiar with the program language before you can able write a trading program.
We also can combine the available technical indicator in to robot program to support the technical analytic role and to make trading signals.
Back testing the Forex trading robots
Metatrader terminal not only can make robot programs, but also can test them with historical data. This back test allows you to check the accuracy of the trading system. For these preferences, the trading terminal has a features in which we can improve the system and optimize the parameters of trading robots.
Maybe it is difficult for beginner traders, but after months beginner traders can start to program their own expert advisor which this can improve their trading results.
If you don't trust this computer program you can set the robot to give you an audible signal when the program going to make trading position. It is hard to find the good forex robot trading on the internet, you can read other trader's suggestion about trading robot in forums but you must test it first before you use it in real trading.
Robots also have a variety of levels when it comes to automation. The trader must also pre – determine the tasks that he or she will delegate to the robot. The trader must ascertain if personal trading will be preferred over entirely automated trading.
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