Some obvious questions associated with this technology are what are automated forex robots, what do they do, and why are so many traders using them in the market today?
Roughly a third of all forex traders are currently using automated forex robots to trade for them in the forex market. This figure is up dramatically since this technology first hit the market years ago and with no signs of slowing.
Automated forex robots are just that, bots or a program basically which automatically places effective trades in the forex market for you without your having to do a thing or without your slightest intervention required. They make use of algorithms to help them anticipate the market and react to changes in the market as they occur quickly to keep you always on the winning sides of your trades, or to maximize your gains and minimize your losses.
These automated forex robots are gaining in popularity for a number of reasons. First, they completely cut guesswork, errors, and emotions especially from your trading campaign. Each move the bot makes is in a direct response to how the market fluctuates, so you get more effective trading around the clock.
And I say around the clock for a reason, because as the forex market takes place over a number of international trading markets, it remains open in some form or another for 24 hours a day, 5 days a week, and even runs late into the weekend. So having the ability to have eyes and ears around the market at all times as well as being able to react to changes 24/7 is invaluable, and not to mention is a welcome alternative to paying an expensive full service broker to do the same thing for constant fees and commissions.
Finally, because automated forex robots make all of the moves for you without your even having to present, virtually anyone can run one of these programs to make some money in this market. Newbie traders use them for that reason, and experienced traders typically use them to supplement their existing trading income. You shouldn't expect these programs to make you rich, however, as the best and most effective ones focus on lower risk/reward trades to boast near perfect winning rates. A better way to think of these bots is like a reliable and extra stream of continual income.
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