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What is a robot?

Dictiony
Mar 16 2021 at 10:21
posts 231
In Forex we know that many people use robots, is it possible to make profit all the time by using robots and is there a lot of capital available from using robots. Does Forex have the legitimacy to use robots?

I expect the right answer from everyone who uses robots to break the law in Forex.

PeteLanceley
Mar 16 2021 at 15:08
posts 62
It is a bot that will trade for you on your behalf automatically.

Most bots are terrible, so I wouldn't bother.

You aren't breaking the law by using one.

angelicafreeman
Apr 02 2021 at 10:36
posts 13
Yes, it might even turn out to be profitable to use robots and for some people it just works alright. Honestly, I don’t see any harm in using them.

LyudmilLukanov
Apr 02 2021 at 16:25
posts 735
angelicafreeman posted:
Yes, it might even turn out to be profitable to use robots and for some people it just works alright. Honestly, I don’t see any harm in using them.

In my opinion, new trades should not use it. They should rely on manual trading to learn.

SofieAndreasen
Apr 02 2021 at 16:38
posts 736
PeteLanceley posted:
It is a bot that will trade for you on your behalf automatically.

Most bots are terrible, so I wouldn't bother.

You aren't breaking the law by using one.

True. EA is good in same sense. But I prefer manual trading.

LukeRachel
Apr 03 2021 at 01:52
posts 459
I usually wanted to know the details about the robot. I know something about robots. So it would be great if someone could share his opinion about the robot.

WaltonCharles
Sep 27 2021 at 20:53
posts 128
Dictiony posted:
In Forex we know that many people use robots, is it possible to make profit all the time by using robots and is there a lot of capital available from using robots. Does Forex have the legitimacy to use robots?

I expect the right answer from everyone who uses robots to break the law in Forex.

I think using robot is not good for any trader. Because of it, No trader can gain proper knowledge about trading.

Gavirus
Oct 07 2021 at 18:15
posts 15
Trading bot is an algorythm for making trading decisions. The whole process is carried out automatically without any participation of a human being.

CraigMcG2020
Oct 09 2021 at 10:04
posts 194
It basically places buy/sell orders for you. It will give set TPs and will move it as TSL. The reasons for entry are set by the programmer/trader. It can be successful but doesn't come close to manual trading.

skihav
Oct 09 2021 at 19:37
posts 530
A robot can be a pretty useful option, but it is often far from the most reliable option, and you can get the result just as well by hand.

Suradi (FXOday)
Oct 11 2021 at 00:32
posts 205
Yes, I think good beginner learn manually rather than relying on robot, but sometimes not all trader can work profitable although already have more experience, using robot trading is one way as investor trader want to make money from forex business, another way for investor trader is looking social trading and looking, good PAMM trader.

Seb King (sebking1986)
Oct 12 2021 at 08:11
posts 223
FXOday posted:
Yes, I think good beginner learn manually rather than relying on robot, but sometimes not all trader can work profitable although already have more experience, using robot trading is one way as investor trader want to make money from forex business, another way for investor trader is looking social trading and looking, good PAMM trader.


Completely agree. I started out using an EA without any real knowledge of trading and was relying on what others told me I should be doing. This led to many mistakes, money being lost and some ropey account management. I was naiive in thinking it was as easy as that. Learning to trade for yourself is far more rewarding in terms of finances but in terms of personal development also.

If you can't spot the liquidity then you are the liquidity.
cardigan
Oct 12 2021 at 09:43
posts 102
They are very common in forex broker and no, there is no law saying that you shouldn't use it. You are allowed to use it.
Although, I will say that you are better off trying on your own since you can grow and improve on your own. But I respect a choice for taking bot trading.

TroyTheTrader
Oct 12 2021 at 11:01
posts 17
Forex robots take the mechanical work out of the forex trading equation. They cannot however help you any further. They cannot come up with strategies of their own and therefore they cannot adapt to changing market conditions.

pathsofglory
Oct 12 2021 at 11:16
posts 8
I like to use complex indicators rather than robots. This leaves me free to add extra analysis that no robot can every take into account

Unellene
Oct 12 2021 at 12:53
posts 283
it's better not to know, so as not to include them in your work later, beginners don't need this

croisssan
Oct 12 2021 at 13:06
posts 658
I believe that sometimes it is better to work without a robot. This simplifies the work of a trader too much and sometimes extremely much.

karenpeters
Oct 14 2021 at 07:16
posts 46
You are right Troy, Trading robots cannot adapt to the changing market condition because they only use past data when predicting future movement. It surely is risky to solely rely on them.

Tradextol
Oct 15 2021 at 03:44
posts 57
Absolutely, a beginner should first learn about the forex market rather than using bots. It's important to learn about risk management, trading strategies, and how to use technology tools to improve efficiency when trading.

croisssan
Oct 15 2021 at 09:50
posts 658
I believe that sometimes you can get a positive result without using robots. But, in this case, the result will depend only on the skills of the trader.

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