Automated Forex TradingForex robots and automated trading have taken the markets by storm. Robots are built to enter and exit the market based on predefined logic coded into the software. A robot trades a very specific system or set of rules, making it possible to leave the software running while you are not there to monitor it. You can normally run multiple robots at once and even attach them to multiple currency pair charts. This enables you to find trades that you didn't even know were there. In addition to their computational abilities, robots are also a great way to eliminate emotion when trading. A Forex robot is emotionless and will never get greedy, anxious, or enter trades because it's feeling lucky.
How automated trading worksThe bulk of Forex robots available today are written for the MetaTrader 4 platform. This platform allows users to attach "Expert Advisors", which is another name for a Forex robot, to currency pair charts. You can also run backtesting, set up email alerts, and trade confirmations from directly inside the software. Once the robot is attached to the chart, it actively monitors prices as they fluctuate in real time. It uses the numbers to check against the trade logic programmed by the software developer. If an ideal situation is found, the robot will enter the trade. Some robots rely on stop loss and take profit marks to close a trade. Others continue to actively monitor the market and can close a trade if things go south or move take profits if they're going well.
Be wary of overnight Forex robotsForex robot developers are popping up everywhere, each claiming to have the best robot that can "change your life". Such claims are normally false. These developers will try to sell as many copies of their robot as they can using false information and then vanish within 60 days. At Forex Robot Trader, we've been in business for over 5 years. We were one of the first companies to offer Forex robots for purchase online, and remain a leader. We have 24/7 365 support and an outstanding reputation as a top Forex robot developer.
Getting startedWe make it easy to get started using Forex robots. Once you choose and purchase a Forex robot from our website, simply download it and go through the automatic installation process. Once installed follow the directions included with the robot to get started within minutes.
Which Forex robot is right for me?We often recommend our Steinitz HAS MTF Robot to most new comers in the Forex market. It is a fully automated robot that requires no experience to use. If you're looking for the most profits, we recommend our Steinitz Fractal Breakout Custom Indicator. It provides signals for possible trades but allows you to choose when to enter. For a complete list of all of our robots, visit our Forex trading robot page.