Forex robots are sophisticated written computer software designed for automated trading in the Forex markets. This forex robots or so-called expert advisors analyse charts to identify trading opportunities and conduct buy & sell orders of the asset based on these chart data analysis. This expert advisors actually perform much quicker and better the trader’s work.
To start trading in the foreign exchange market (Forex), you need to analyse charts, follow the world economic news, and track the asset price movements constantly. This can be a very laborious and complex process. To turn this process easier for traders various technical tools been invented, such as indicators, scripts, experts advisor.
According to the statistics, almost 90% of professional forex traders don’t sit in front of the computers around the clock and don’t monitor the fx market all the time. Professional traders, they only use the expert advisors that do almost everything for them. Forex algorithms don’t have feelings or emotions so that they follow the exact the strategy they been programmed for, while humans have emotional stress, fatigue, etc. – all of these are negatively affect the trading efficiency.
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