Forex Trading Truth and HypeYou have probably heard a lot about forex trading bots. Most of your information and excitement is probably owing to the tons sales literature you have read about these . However, when talking about forex trading bots it is important to know the difference between fact and hype. Many sellers often try to create hype by making claims, which are too good to be true and often times their bots do not live up to all that hype.
The simple answer to this is 'No' are not the holy grail of forex trading, and they may probably never be until or unless someone comes up with a program which is so perfect that every trade it makes is profitable. Even though some good have a high percentage of profitable trades, there are still trades, which are not profitable, in addition you still need to tell the bot exactly how to trade based on your own preferences. However, it is important to note that forex trading bots are the future of forex trading, in the next few years the majority of trades made will be by bots either run by large organizations or by home-based traders. The overall artificial intelligence will also improve and like many of today's bots so will the percentage of profitable trades.
There are a number of things that a forex bot cannot do, for instance, it cannot predict what turn the market will take in light of current breaking news. The forex bot will not be able to compute what effect a particular type of trend will have on future trends if, for instance, war breaks out in a particular country. It is these types of variables that require human intervention, and so you cannot expect a forex bot to work on autopilot forever and continue making profitable trades. need to be monitored and tweaked based on breaking news and other variables.
People who want to use a forex trading bot need to find a bot which is really good at making profitable trades. The best way to go about doing this is to ask experts who have years of experience trading in the forex market as well as using bots. The bots that these experts recommend should be the ones you use.
The simple answer to this is 'No' forex bots are not the holy grail of forex trading, and they may probably never be until or unless someone comes up with a program which is so perfect that every trade it makes is profitable. Even though some good have a high percentage of profitable trades, there are still trades, which are not profitable, in addition you still need to tell the bot exactly how to trade based on your own preferences. However, it is important to note that forex trading bots are the future of forex trading, in the next few years the majority of trades made will be by bots either run by large organizations or by home-based traders. The overall artificial intelligence will also improve and like many of today's bots so will the percentage of profitable trades.
There are a number of things that a forex bot cannot do, for instance, it cannot predict what turn the market will take in light of current breaking news. The forex bot will not be able to compute what effect a particular type of trend will have on future trends if, for instance, war breaks out in a particular country. It is these types of variables that require human intervention, and so you cannot expect a forex bot to work on autopilot forever and continue making profitable trades.need to be monitored and tweaked based on breaking news and other variables.
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