Forex Robot Nation
FOREX ROBOT: MANUAL OR AUTOMATED TRADING?
It may seem like an odd question to ask given that most forex traders purchase forex robots for their automated trading capabilities. That’s one of the big hooks present on so many forex robot sales pages. “Set the (insert forex robot name here) on autopilot and watch as it delivers forex riches to you while you sleep.!” We’ve all seen stuff like that before and it’s a sales tactic the forex robot industry isn’t likely to eschew anytime soon.
Obviously, automated trading has its benefits. A lot of forex investors are in the game as a way making some side income and they don’t have the time to be full-time traders. Many are restricted by their day jobs and cannot spend time using their work computers to check on forex trades. A fully automated forex robot is the best bet for them. In addition, novice traders can certainly benefit from putting their forex robots on autopilot, especially if the robot is a good one. Nothing does more to boost a new trader’s confidence than to get off on the right foot by making some pips in his first few trades.
This all useful information to know, but it probably doesn’t give you a direct answer about what is the best way to operate your forex robot: On autopilot or in conjunction with your own trading ideas and instincts. Let’s take a deeper look at what strategy is best.
IS IT EVEN POSSIBLE FOR A ROBOT TO WORK NOT ON AUTOPILOT?
The short answer is “yes.” There are several forex robots on the market today that function kind of like forex signal services in that the trader must be present to not only see the trade the forex robot is recommending, but also to manually enter the trade himself. A lot of the forex robots that do this in MetaTrader 4 will give the trader the option of declining or taking the trade by using a box that pops up with the recommended trade inside of it. This is advantageous for multiple reasons. First, the trader can see how the forex robot works in a live environment without actually risking any money. Just keep a record of the trades the robot recommended that you didn’t take to test its proficiency.
Second, this way of testing a forex robot doesn’t involve the potentially skewed results that can occur in a demo account or through backtesting. Overall, this is probably a better avenue for more seasoned traders to explore because they will have a better sense of what trades to take and which ones to pass on than a rookie forex trader does.
FOREX ROBOT IN AUTOPILOT MEANS AUTO PROFITS?
Some forex robots are in fact quite adept at generating pips in the autopilot setting. However, traders should make sure their forex robot automated trading fits their trading. If your forex robot puts you in 10 trades per day while you’d prefer three or four, tweak its settings. We favor the autopilot setting in forex robots for new traders or those investors that cannot commit to trading at least a couple of hours a day.
It may seem like an odd question to ask given that most forex traders purchase forex robots for their automated trading capabilities. That’s one of the big hooks present on so many forex robot sales pages. “Set the (insert forex robot name here) on autopilot and watch as it delivers forex riches to you while you sleep.!” We’ve all seen stuff like that before and it’s a sales tactic the forex robot industry isn’t likely to eschew anytime soon.
Obviously, automated trading has its benefits. A lot of forex investors are in the game as a way making some side income and they don’t have the time to be full-time traders. Many are restricted by their day jobs and cannot spend time using their work computers to check on forex trades. A fully automated forex robot is the best bet for them. In addition, novice traders can certainly benefit from putting their forex robots on autopilot, especially if the robot is a good one. Nothing does more to boost a new trader’s confidence than to get off on the right foot by making some pips in his first few trades.
This all useful information to know, but it probably doesn’t give you a direct answer about what is the best way to operate your forex robot: On autopilot or in conjunction with your own trading ideas and instincts. Let’s take a deeper look at what strategy is best.
IS IT EVEN POSSIBLE FOR A ROBOT TO WORK NOT ON AUTOPILOT?
The short answer is “yes.” There are several forex robots on the market today that function kind of like forex signal services in that the trader must be present to not only see the trade the forex robot is recommending, but also to manually enter the trade himself. A lot of the forex robots that do this in MetaTrader 4 will give the trader the option of declining or taking the trade by using a box that pops up with the recommended trade inside of it. This is advantageous for multiple reasons. First, the trader can see how the forex robot works in a live environment without actually risking any money. Just keep a record of the trades the robot recommended that you didn’t take to test its proficiency.
Second, this way of testing a forex robot doesn’t involve the potentially skewed results that can occur in a demo account or through backtesting. Overall, this is probably a better avenue for more seasoned traders to explore because they will have a better sense of what trades to take and which ones to pass on than a rookie forex trader does.
FOREX ROBOT IN AUTOPILOT MEANS AUTO PROFITS?
Some forex robots are in fact quite adept at generating pips in the autopilot setting. However, traders should make sure their forex robot automated trading fits their trading. If your forex robot puts you in 10 trades per day while you’d prefer three or four, tweak its settings. We favor the autopilot setting in forex robots for new traders or those investors that cannot commit to trading at least a couple of hours a day.
- Birthday
- Mar 22, 1985 (Age: 39)
- Website
- https://forexrobotnation.com
- Location
- Toronto, Canada
- Gender
- Male