Advantages and disadvantages of the use of Forex Robots

By jtelo December 14, 2009 17:20

Advantages and disadvantages of the use of Forex Robots

People always read and read lots of articles and several pages of information that most of the time lead to no conclusion, or to be more specific, simply lead to nothing. So what I’m gonna do is focus all these well and bad, but still useful, written information about Forex Robots to bring my readers what I think are the most relevant, nice and ugly, things about these controversial systems, called Forex Robots.

I’ll start by pointing out the disadvantages of the use of Forex Robot:

  1. They could be very expensive.
  2. There’s a huge range of different robots to choose from, which can make users to have a really hard time choosing the one that’s right for them.
  3. People have to leave their computer turned on all day or pay for a VPS (Virtual Private Server) so that the robot works at its best performance.
  4. Doesn’t run on every broker, which could limit your earnings.
  5. Configuring the robot for its best performance could be problematic and depends on what currency pair the user is trading.
  6. Intervene in the robot’s performance may cause its malfunction and turn into losses for the user.
  7. Most of them can’t trade on days of high volatility.

After looking at this horrifying number of bad things about robots, let’s take a look to the advantages they have to offer:

  1. There’s no need to know anything about the Forex Market (although this is not recommended at all).
  2. Because it is a software, the robot can trade 24/5 which keeps you away from missing good trades.
  3. Can be used in more than one account at the same time (Multi-trade).
  4. Almost every parameter can be configured depending on the robot (from starting investment to stop loss and more).
  5. Can trade with every currency pair depending on the robot.
  6. Most of them can be tested and returned the first 2 months.
  7. Forex Robots base their decisions on math and statistics, not feelings.

At this point, the numbers are even, but by reading both, advantages and disadvantages, carefully it can be seen that it’s not numbers what matter, it’s the strong of what they can and can’t offer, so the conclusion is up to you. I’ll finish this article by recommending the use of Forex Robot, particularly this one: FAP Turbo (We actually use this Forex robot making a good amount of profits. This robot have one year in the market making profits.); and for those that refuse to use these impressive systems they can always learn to do this job by themselves like pros, and one step to do it is by joining HectorTrader Forex Course.

By jtelo December 14, 2009 17:20
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