About 'forex trading robots'|best forex robot Forex Trading Robot – The 4 Week Rule A Free Robot That Works!
It is common nowadays for traders who are just starting on trading to search for forex automatic trading robots to execute trading on a day to day basis. Even professionals do from time to time require the help of their developed robots to analyze, monitor their trades for them. The Market Is Full Of Forex Automatic Trading Robots With a plethora of forex automatic trading robots out there that comprises from fully automated trading strategies to trading signal providers that promise the riches one can never dream of, it is no wonder that there are many who are let down by these promises. From my research, I have discovered why so many of these automated trading robots do not work. They lacked the four basic trade setups that all traders have to go through when implementing their trading strategy. 1) Opportunity Recognition 2) Entry 3) Trade Management 4) Exit Ok, so this may seem obvious to those who have been trading for some time but can a trader identify them in a forex automatic trading robot? Introducing Essential Components Of Forex Automatic Trading Robots These four components are essential to any type of strategy including those found in forex automatic trading robots. Opportunity Recognition Spotting opportunity is not a problem for most robots out there because that is what their main purpose is for, to identify opportunity to enter a trade. The robots should help the trader know what constitutes an opportunity by having detailed rules within its programming codes. Trade Entry This is important. This is the part where the robot will recognize an opportunity and make that decision to enter a trade according to its rules and conditions. This actually helps to eliminate doubt and indecision from human by doing all of these automatically. If any of the robots requires a trader to make the decision of trade entry with the signal provided, he must know what strategy the robot is employing to understand what the signal means to him. Trade Management This is the part where the trade is ongoing and a trader has to manage it effectively with a clear objective mind. This is by far time-consuming and most robots out there should handle the trade management process as it monitors the market condition with its trading rules in place. Stop Loss orders, partial closes and take profit levels are important in this phase as these are components that can make or break a trader's trade. Trade Exit This is the final component of the trade which is exiting from the opened position. This carries the huge emotional stress as normally a trader may establish an ownership bias of the trade he has opened. It carries the profits or losses of the trade. But a good robot will determine the exit position through objective analysis by its rules, therefore eliminating stress and emotional aspect of trading. Forex Automatic Trading Robots Summary So from this four basic components that every forex automatic trading robots should have, a trader has to keep on a lookout and try out the robots to see which of them suits his trading style the best. Any component that is lacking in the forex automatic trading robots will bring about bad trading opportunities and in future, bad losses in trades. Charlie Ng What if you just couldn't trade forex effectively with a day time job? This method is simple to pick up and it automates most of manual forex systems. Yes, it can automate your personal forex system. You can read how to do it in my free report here:Expert Advisor Metatrader Don't give up hope, it's NOT impossible. Forex Automatic Trading Robots will expand your trading capabilities to greater trading success learn more by clicking the link. |
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