Updated: Nov 12, 2018
Generating profit from Forex market is practically possible as its trading volume is obviously huge. There is no owner or big player who can easily disrupt the market. It means every trader can easily growing up their account by choosing the right tool. Nowadays, there are more than thousands of Forex automated trading robots, also known as ‘Expert Advisor (EA)’, available in the market. But keep in mind that some of them are real while most of them are scammed, claiming that it can turn tiny accounts into millions of dollars overnight.
Before choosing which one is real, this article lists 4 major reasons why you need to consider using automated robot trading if you aim to be a successful trader.
4 major reasons why you need to consider using automated robot trading forex if you aim to be a successful trader.
1. Using Eas promotes discipline in robot trading forex
An automated trading robot keeps watching at every single movement of the price for 24 hours and automatically trades even while you sleep. With manually trade, you may miss trading opportunities during your night time or be away from the market during your vacation. This may result in missing a chance of earning a lot of money.
The EAs will runs 24/7, without laziness, seeking for trading entry points on your behalf. It will automatically execute the orders whenever the price meets the previously set strategies. This will make you a better trader who sticks on profitable strategies.
2. Using EAs allows you to robot trading forex with various products In Forex market, there are almost hundreds of products available for trading. With manually trade, you may be able to track the movement of few currency pairs to find trading opportunities. The more currency pairs you select, the more confused you may be. As a human being, you are never going faster or more careful than the automated trading robot. You may enter at inappropriate position or execute incorrect order to the wrong product.
Using automated trading robot will eliminate those mistakes. As long as the EA is proved as safe and secured, you just plug the EAs to many charts – various products and various timeframe - and let them run over those charts at the same time. They will automatically go through all currency pairs previously chosen and will execute the orders with correct product, lot size, stop loss and take profit position. It will keep running until you deactivate it from the chart. You do not need to stay at late night to sit in front of a laptop and keep your eyes on the market price anymore.
3. Using EAs allows you to robot trading forex with many strategies Just like other trading markets, the price in Forex market can either run as a trend or run within a range. Some trading strategies perform well in trendy markets, some in range markets, some will only generate profit in Bear markets but losing in Bull markets. The point is that there is no single magic strategy that will always return a profit.
Multiple trading strategies can be combined within one automated trading robot. Most traders still believe that the more trading strategies used will increase a higher risk. In fact, it is beneficial to traders in which when one strategy struggles with some undesirable market, another strategy may generate the profit from that market condition and cover for it. They run as a team work! But those combined trading strategies must be unique and uncorrelated.
4. Using EAs does not have Emotional Trade
Every trader who manually trades might have an experience on using emotional trade. A feeling of stress, hesitate, fear or greed definitely disturbs your trading decision and obstructs you from being a successful trader. Some traders may have good trading strategies or have a good guru as a consultant, but with emotions those strategies may be useless.
Using robot drastically reduces stress and other emotions in trading. Once you plug it to the chart, it will automatically strict on the preset strategies with no excuse.
Once you start trading with automated trading robot, you will clearly understand how easy it is to make a profit from this Forex market. Money is everywhere! Whether you can grab it or not is up to your own decision.