Internet Entrepreneurial Success Guide!

Why Do So Many Internet Startups Fail Today? Get Internet Entrepreneurial Success Guide For Free and Find Out How you can avoid being part of this dreadful statistic!

Get It Now!

We respect your privacy!

Types of Forex Robots

June 25, 2011 · 2 comments

in Forex Trading

The first thing to note about Forex Robots is that none of them can perform magic. There are no holy grail trading systems and if there were, one very rich trader would be sitting on it behind a very big wall. What they can do, however is help you with the process of deciding whether to buy or sell a currency pair at a particular time. They are extremely useful at taking out the emotional and psychological elements of trading, which can very often be detrimental to both your wallet and your health. Instead they allow you to trade based on science and logic.

There are numerous day trading robots available for traders to buy – a quick search of Google will show you just how many there are, but in essence they are all mostly designed to be Metatrader expert advisors. Metatrader is, of course, the trading platform that most brokers use and these expert advisors are able to take charge of your trading account and execute trades depending on what parameters you instruct them to follow when you first set them up. That’s why, in a nutshell, they won’t be performing magic. They are simply little programs that you define, to make sure you stay on the trading path that you set out on.

 

As such there are forex trading robots called Velocity or Momentum Robots. These are robots that study the fluctuations in price (as well as other movements) and then organize them into defined patterns in order to help you understand the market before making a trade. They would show the rise and fall of the market and allow the trader to follow any sorts of patterns that might trigger a price movement, thereby identifying positive trading opportunities.

Also, there are robots called Continuation trading robots. These are robots that look into averages and trends. They would pinpoint trends by monitoring the ebb and flow of the currency market trading. The use of such moving averages is perfectly suited to markets that exhibit (and experience) trends.

There are hundreds of forex trading robots out there. The most popular are Forex Robot World Cup, Forex Megadroid, Fap Turbo, Xtreme Pip Poacher, Forex Shockwave and Forex Bulletproof. Spend some time on the review forums before you invest in any of them. And keep telling yourself – they’re not magic bullets!

 

Authored by Alex Simmonds

Alex is a freelance journalist and financial blogger. He loves to write about baseball and jazz but spends most of his days writing about tax, life insurance quotes and remortgage rates .

Related Articles:

Article by

has written 161 awesome articles for us at Opportunities Planet

Twitter: @opportplanet | Facebook | | Blog → OpportunitiesPlanet.com

Write for us a Guest Post!

{ 2 comments… read them below or add one }

forex markets July 6, 2011 at 5:20 am

Forex Software – Choosing The Best software-When it involves forex trading the forex software you select is essential. There are such a lot of forex trading companies all competing for your business that selecting the correct forex software can be quite a troublesome task. Most of the forex software product offered offers live online forex trading platforms however what other elements are very important when it involves your forex software.Key Components For Your Forex Software Before purchasing any forex software there are some essential items that should be included. The most necessary is security and your on-line forex trading software should embrace a 128 bit SSL encryption that will stop hackers from accessing any of your personal details and info like your account balance, transaction history, etc.Providing the best security for your forex trading can embody an organization that has twenty four hour technical server support for your forex software, 24 hour maintenance ought to anything fail, daily backups of all data, and a security system that has been designed to prevent any unauthorized access. Together with these security protocols there are some forex trading companies that use sensible cards and fingerprint scanners to make sure that solely their employees will have access to their servers.Another necessary issue when it comes to choosing your forex software is to check what the company’s downtime is like. When it comes to trading forex and particularly your on-line forex trading you wish to ensure that the forex software you select is reliable and out there twenty four hours a day. The forex software you choose for your forex trading should additionally have technical support obtainable in the slightest degree times should your session be cut short.Making certain that each one the higher than options are listed in the forex software you choose will facilitate to ensure your forex trading success.Anyway, a forex software is a must have if you want to earn money.

Reply

Alexander Collins January 25, 2012 at 2:48 pm

I do love to trade with my self-developed Forex robots. It saves my time and while FX robot is trading, I can spend time with my family or what so ever.

Only one condition, do not forget to choose fast execution broker.
Alexander Collins recently posted..Typical Technical Analysis Using Multiple Time FramesMy Profile

Reply

Leave a Comment

CommentLuv badge

Notify me of followup comments via e-mail. You can also subscribe without commenting.

Previous post:

Next post: