forex trading robot-why i don't trust them!
I totally don't believe in robots. Robots never help to u trade long time.
I think everyone who selling robots, they earn much more money when who buying it...
Robot can work 1 day, maybe 1 week, but later when pips go up or down more then 1k i think they just crashing and some1 loosing a lot of money.
Never trust robots, better learn for yourself. Change your way of trading where you will nor required robots.
Take best advantage of your trading skills turn it into profits-real monetary terms.
my advice to you guys, if you want really to make money, start with a demo account in some forex game or demo contest
This is one guarantee you will make money and you will not lose all your money if the market goes agaist you. In the game like tournament, the money you bet goes into a common pot- and if you are able to defeat your friends, you can got huge money.
Very nice explanation on robot trading. i believe in manual trading.
I have not used robot for trading before. And I prefer to trade manually, so the results of my trading is really pure from my efforts. Beside that, if we wanna use robot, we should be really mastering trading, we should setup robot as well as possible.
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
You agree to website policy and terms of use
Forex trading is said to be the most liquid financial market in the world. And the fastest moving market.
What are forex robots?
Forex robot are EA, also known as expert advisory that open and close a position automatically without human efforts or control, and they work almost exactly how they are designed or built. A forex robot that is built to trade on a particular currency like eurusd, cannot trade other currency pair unless the robot is redesigned. Before considering if a robot will work for you or not, you need to determine the kind of forex robot that suit you. They are two types of forex robot, the one that carries out orders automatically and the one that generate signal when it determine a high probability trade. The fact is the forex market is too technical and fast for a forex robot to trade on, unless it features is being updated with time. They are different factor that drive price movement in the forex market, the major factors are fundamental and technical any analysis. They are times the movement of a currency pair is driven more by fundamental factors, like economic data, interest rate, employment situation of that country. Now, the questions is; a robot that is made with 90% technical analysis and 10% fundamental, will it stand the test of the forex market when a price movement of a pair is move more by fundamental factors? Since the forex market is a fast changing market, a robot should only be use if it can be updated daily .
With changing of the forex mrarket due to economic factors, it will be almost impossible to trade the financial market of this kind with an automated machine built under a specific conition. As much as many forex traders as lost their money using robot, the zeal to use trading robot increases every seconds by lazy traders, simply because they don’t want to put their time to trade, yet they want to make money. Where have you seen a business you put no time, yet you make money?. Am not in anyway, discouraging you from using a robot, but just letting you know of the danger of automated forex trading in nigeria and the forex market at large