John Henry Last updated: 05/09/23 Table of Contents show Forex trading with robots is more than just a fancy term to describe automated trading systems. Forex trading robots are a reality. There are many people who use these types of programs to trade the foreign exchange market. But are they really worth your time?
A forex "robot" is trading software that makes trading decisions for you, more or less acting as an advisor, but robots have their pros and cons. Your robot can be programmed to trade for you all day, every day, although you might want a hand in what it decides on your behalf.
No. These forex robots and Expert Advisors are also what's known as a black box system. We don't really know how they're built or why they work. All we can do is attach such a robot to our charts and cross our fingers when it's executing trades. In some cases, the only people that make money out of forex robots are the vendors who sell
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Forex robots work by taking a set of rules and instructions and applying that information to the market. They use pre-set parameters to generate profits for the traders that operate them. Trading algorithms have been around for a long time and are used in assets from cryptocurrency to stocks.
Do Forex trading robots really work? Though forex auto trading robot software promises to make beneficial trades, not all automated forex trading robots are what traders expect them to be. Moreover, some federal governments consider bots to be scams.
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Do Forex Robots Really Work? The question of whether forex robots, also known as expert advisors (EAs), truly work consistently has no universal answer. However, traders can evaluate the viability of forex robots by digging into key factors:
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do forex trading robots really work
