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Get to Know Robots in Forex Trading

Get to Know Robots in Forex Trading

Get to Know Robots in Forex Trading – Currently, more and more people are investing and even trading in their own way. One type of trading that is quite well known and even many people use it is Forex trading. Nowadays, more and more people are interested in trading with trading robots, but some of them still do not understand the usefulness of trading robots clearly. As a result, they cannot get optimal profits because they often make mistakes that cause losses.

In fact, along with current technological advances, rating activities are growing, where trading can be done automatically so that the radar does not waste time in front of a computer screen. This term is known as Autotrade Gold.

Autotrade Gold carried out by this trading robot is also known as an Expert Advisor (EA), whose use can help carry out rating activities automatically according to its programming. However, of course traders need to check occasionally to see the progress or condition of the transaction

Get to Know Robots in Forex Trading

Advantages of Trading Robots

1. Work 24/7

As previously noted, the trading robot will work all the time without resting. Considering this robot will monitor and see market movements at any time and take appropriate actions. So your profits will not be missed.

2. Not Having Emotional

Unlike humans who have feelings and logic, where if the two are in conflict, it causes emotional overload. Some of the emotions that humans often experience when playing trading are fear, greed, prejudice and their own assumptions. It is these emotions that cause trading activities to become chaotic.

In contrast to forex robots that do not have emotions so they only do work according to the stipulated conditions. Psychologically, humans are what make a person focus on work so that they can get maximum results. So don’t be surprised if trading robots never complain, but can produce good results.

3. Seize Opportunities Faster

Humans have limitations, feel tired and need to rest so it is very difficult to trade on their own. Using a trading robot, you can scan the market, get opportunities based on parameters, see market movements and take action quickly and precisely.

Disadvantages of Trading Robots

1. Requires Monitoring

Even though trading robots are very cool and help traders a lot, they still need monitoring from their traders. So you still have to work and make sure the trading robot does its job well. Hopefully in the future there will be a robot that actually does its own thing.

Also Read : Know the Difference between Forex and Stocks

2. Requires Fee

Of course, in using a trading robot you have to pay quite a lot of money. This fee is used to pay for the rental of the virtual private server. This is not a bad thing and worth it, because you will feel the benefits of a trading robot. So, you don’t have to be afraid to spend a little money for big profits.

3. Make sure to search for information

Radio robots are easy, but make sure you look for information about the robot used. Don’t just use a trading robot that can’t provide optimal assistance. You also need to know the market conditions to know when to take over the trading work in a timely manner.

Those are some things about trading robots that you can know from their uses, how they work, to their advantages and disadvantages. If you utilize or use trading robots optimally, then you will also get good results.

Autotrade Gold is the right choice to give you autotrader gold, to be able to trade more easily and provide big profits. Of course there are many benefits and advantages that you can feel by using a trading robot from Autotrade Gold. You can feel the performance of BotForex using the Auto Compound system, as well as the Autopilot Forex Gold Trading Bot.

Another advantage, you can get a fairly large and consistent profit above 10% every month without sharing profits. This Autopilot Gold Trading Robot is also monitored by a professional team for 24 hours and is proven to provide income every month. The profit you get is 100% yours without any deductions. In fact, this trading robot is also suitable for a beginner who only has a few trading strategies, or even knows nothing, but still earns 24 hours a day.

8 Disadvantages of Trading Using Robots

8 Disadvantages of Trading Using Robots

8 Disadvantages of Trading Using Robots – In trading most people do it using robots. Robots are used to be able to automatically play and make profits in a fast way. However, did you know that trading using robots can also be detrimental? Here are the disadvantages of trading robots

#1. Expensive Cost
Because it is an automated system, forex robots are usually expensive to build. Forex robots are structured in a metatrader language, which only a few traders can build. But the expensive costs that must be incurred are not only when buying a robot.

There are other costs involved if you want to trade forex using a robot. Because everything is completely automated, traders obviously need a reliable 24 hour internet to be able to trade automatically. Likewise with the computer specs used, must be high and that means expensive.

#2. Must Always Update
It doesn’t matter how good a strategy is applied to a forex robot, a trader cannot avoid the fact that the forex market is constantly changing. On the one hand, forex robots are hard-wired and rigid systems that traders should always take the time to update.

For example, the forex robot is not updated, the robot cannot work so trading will most likely end in failure. So even if you use a forex robot, try to choose the type of robot that can be updated so that the trading strategy can be adapted to the market situation.

#3. Higher Risk
The majority of forex robots are made with the main goal of maximizing the profits that can be obtained from trading without having to involve traders. But robots are actually generated from various combinations of high-risk trading strategies such as martingale, scalping, and hedging.

This strategy has proven to be effective in generating extraordinary amounts of profit from correlation forex trading, as well as the risks it presents. As an illustration, the strategy used to build a forex robot is usually not equipped with a stop-loss order.

Also Read : Easy Way of Technical Analysis in Trading

#4. Data Bias
One of the hidden enemies of forex traders is data bias. This situation refers to the backtesting process carried out to test forex robots. In general, backtesting results will show excellent results but show failed performance when used for trading.

This situation can occur because of the data used for backtesting forex robots. Robot sellers usually use data that matches the robot, not market data for the current period. The result is that forex robots are sometimes irrelevant to the current market situation.

#5. Scam
The logic is, if the forex robot shows outstanding performance and gives high profits, why should it be sold? One-sidedly it can be concluded that there are conditions that do not make sense. This is what traders must understand if they want to trade forex using robots.

For example, finding a trader who sells a forex robot with the lure of big profits, you can be sure that the forex robot is a scam. Avoid traders or other forex robot providers if you encounter an anomaly like this.

#6. Less Safe
Forex robots are automated software that has been created in such a way that trading can be done automatically. Although this is an advantage, it can also be called a weakness. The reason, the software could have been given some kind of virus or other.

A condition that is very likely to be experienced by traders is that they often suffer from losses, even if they win, only a small amount of profit can be taken. The possibility of profit is usually taken by the virus and then sent to the owner of the virus. Therefore, make sure that the robot is completely safe from viruses and malware.

#7. Quality Must Be Maintained
In addition to some of the advantages provided by trading robots, traders also have the potential to regularly get into trouble if trading forex using robots. Traders should always keep the EA in high quality, or the trade will end up disappointing for the trader.

Forex robots do not have the ability to deal with errors or other unexpected events, so traders are required to monitor continuously in order to maintain the quality of the performance displayed. So, even though they have used forex robots, traders also cannot just walk away and relax.

#8. Limited Strategy
Some types of trading strategies sometimes cannot be applied to forex robots. The results of pattern and wave analysis from charts, including fundamental analysis, are very difficult to enter into trading parameters mathematically into the trading platform.

In the current stage of developing artificial intelligence technology, this task still cannot be carried out by robot traders. Basically, forex robots only do what they have been told without being able to improvise on market conditions.