 What is a Forex Trading Robot? And How Do They Perform?Published Date: 2009-06-27 13:48:13 WorkOnInternet.com
This is quite simple really... Imagine you've just designed and tested a system to make money consistently in the markets. You have your charts, indicators, entry points, exit points and money management systems all sorted out. Now you wait! And wait! And wait... firstly for the signal to confirm that there might be a trade, then confirmation that all your rules have been satisfied. Then you enter you trade and watch the markets like a hawk waiting vigilantly for more confirmation that you are right in the form of profits! There's plenty that can go wrong with your system.. the least of which is your emotions... sitting, waiting for a trade. And then your ability to stick to your own rules will come into play. And finally, you have to actually be up, and alert enough to actually be trading. I know from experience that getting up at 4:00 in the morning and trading is a hard thing to do over the long term. And also know that emotions play a substantial part of any trading system. It is colloquially said that the markets are driven by greed and fear, and if this is true, then there's not really too much necessity for a systematic / scientific approach to your trading then! How? If you have a trading robot, then all you need is a MetaTrader platform with a reputable broker that allows you to trade EA's (this is important, as not all brokers will allow you to use robots, and some will even freeze your account if they suspect you are!) You should set it up and install your EA on a VPS (virtual private server)... this server will host your application and always be connected to the internet. So you can walk away and just check your account every few days to ensure you're still making money. You can of couse install them on your own machine too, but this is fraught with problems, least of which is windows automatically installing updates and breaking your internet connection when you're in the middle of a trade... (YES this has happened to me before, so I promptly disabled automatic updates). When? This is easy... 24 hours a day, 5 days a week... always trading. Now I don't know a single person in the world that can do this, so you'll be safe to say that you're always "In the market" when you trade with an EA. What I have found is that overwhelmingly, these robots will trade the beginning of the Asia session. Coincidence or not? That is when they open the majority of their trades. To know what robot will suit you is difficult. You need to test many different http://tradingstockshop.com/ in a variety of conditions to see and measure its performance. As always, it is highly recommended that you test, test, test so that you get comfortable with what the robot delivers over a variety of market conditions. Good luck with your trading. I wish you every success! I've made a trading a passion of mine, and so the events documented in this article are completely my own views based on knowledge acquired throughout my trading life. You can see my live test results at http://www.tradingstockshop.com and see for yourself what I believe to be one of the hottest trading robots ever developed. Best of luck with your own trading, I wish you every success Kind.
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