If you’re just getting into forex trading, or even more specifically, forex trading with automated robots, then you’ve probably been wonder what this forex robot software is, right?
Forex Robot Software
Basically, it’s a simple set of guidelines which tell’s your trading account to do something. For example, if you’re trading on EURUSD M15, the forex robot software (whatever brand it is), will be coded with an algorithm that tells it exactly when to buy into a currency � if x=y and y=z on this specific day, and about 100 other factors etc, then buy into EURUSD. That’s the most confusing part. The rest of the Forex robot software’s job is simply to either sell at ‘x’ pips profit, or ‘y’ pips loss.
Forex Robot Software
It sounds kind of complicated, but also kind of easy in ways. Back when I used to trade manually, I was kind of like a poorly constructed forex robot software, because I would have my list of critera in front of me (I used candlestick charts), so before I entered a trade I would have to go through my checklist to confirm that the trade was reasonably safe. This system is amazing in theory, but because I’m a human with too much emotion, often times I would place stupid trades on a hunch…
You know what I’m talking about don’t you? A trade that you think looks good, but doesn’t match your criteria, and in the back of your head you know it’s not going to make a profit, but if it does BOY will you feel GREAT!
9 times out of 10 that trade is a big loser, and you feel like an idiot for putting your money down when you knew it was the wrong thing to do.
This is where Forex robot software really shines. It never places those dumb trades. It only opens a trade when the conditions are 100% perfect, so you’re left with a system that is much more profitable in the long run, and very consistent at the same time. These forex robot software systems are absolutely perfect for short term scalping trades, because obviously they don’t consider news etc, but run on market trends with great success.