<\/div>\r\n <\/div>\r\n <\/div>\r\n <\/div>\r\n\r\n<\/div>\n
This is a sure recipe for disaster in a Forex trading situation.<\/p>\n
In order to avoid emotions overruling our better judgment, Forex trader can always resort to using\u00a0automated trading robots\u00a0to execute their trading decisions.<\/p>\n
Automated trading robots allow Forex traders to combine the benefits of systematic trading and emotionless trading in the highly charged Forex market. By removing the human element in certain aspects of Forex trading, a Forex trader can maximize his return as well.<\/p>\n
One clear example of how\u00a0automated trading robots can benefit Forex traders<\/strong>\u00a0is the automatic execution of buy and sell placements order when the time comes. This in essence allows a Forex trader to trade even while he is sleeping.<\/p>\nIn addition to being able to preset entry and exit point with automated trading robots, Forex traders can also determine other parameters for the automated trading robots to follow. Forex traders can also decide what moving averages, price patterns, market trends or any other technical for the automated robot to follow as rules for their trading strategies.<\/p>\n
Once the parameter is set, the automated trading robot will create algorithms that will execute the\u00a0Forex traders trading decisions<\/strong>\u00a0automatically without them intervening.<\/p>\nFree Automated Trading Robots<\/h2>\n Sometimes these automated trading robots are provided for free as part of a trader\u2019s account when they open their\u00a0trading account\u00a0with a brokerage.<\/p>\n
If a trader finds the automated trading robot provided by the brokerage firm unsuitable for them, they can always purchase those systems that are available in the market. There are two types of\u00a0automated trading robots<\/strong>\u00a0in the market. They can be web based or standalone desktop version.<\/p>\nIn terms of popularity, web based system are more popular.<\/p>\n
This is due to the fact that the actual cost of ownership for standalone desktop version can actually be higher than one can anticipate.<\/p>\n
For example, for the standalone desktop version, data are stored on the local hard drive.<\/p>\n
This can be a problem as hard drives are\u00a0mechanical components of a computer<\/strong>\u00a0that can fail without warning. In addition, it can be more costly to protect a desktop system than a web based system from virus attack.<\/p>\nIn terms of security concerns, web based systems have a higher integrity as the provider of these system usually use highly sophisticated security systems to protect the privacy of their clients\u2019 data.<\/p>\n
Furthermore all data are stored with expensive data backup system that\u00a0an individual Forex trader<\/strong>\u00a0can ill afford.<\/p>\nAnother plus point regarding web based automated trading robot systems is that you can test the demo version of these system and evaluate which system is most suitable for your trading style and strategy.<\/p>\n
An automated trading robot is an excellent way for one to systematize one\u2019s\u00a0trading strategies. In a constantly changing and highly charged trading environment, letting our emotions taking over our better judgment can seriously dent our pocket.<\/p>\n
At times, letting an automated trading robot taking over the\u00a0execution of our investment decisions<\/strong>\u00a0can actually be a better course of action than letting our trading be self driven.<\/p>\n","protected":false},"excerpt":{"rendered":"One of the major obstacles faced by most Forex traders is the ability to control their emotions when it comes to trading in the highly volatile Forex market. Fear and greed are two of the\u00a0most fundamental emotions\u00a0that we have. And sometimes, during the heat of the trading actions, we can get carried away by our […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":1187,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"templates\/sidebar-right.php","meta":{"footnotes":""},"yoast_head":"\n
Trading Robots - Online trading platforms<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n\t \n