Did you know that you could make your Forex transactions
completely automated? With the advent of Forex robots and Expert Advisor
(EA) systems in the market, Forex trading has taken on a whole new
meaning. Imagine, all you have to do is run a computer in which the EA
software has been installed, as long as Forex is operational, and all
your transactions will be completely taken care of. With very little
drawdown, and a remarkably consistent income generation, these robots
have given investors more room to breathe than they could have ever
imagined.
What is an EA or a Forex robot?
An Expert Advisor
(a Forex 'robot') is a computer program that replaces human traders. The
software merges into your Forex trading platform (such as Metatrader)
and analyses the market trends 24 hours a day, finding opportunities for
making profitable trades. It is capable of entering trade, managing it
till it has been completed, and successfully exiting it as well.
What are the advantages of using an EA?
For
one, a computer does not have emotions. Humans sometimes make rash or
wrong decisions because of psychological factors that may come into play
in the highly volatile currency market. Not only does the EA prevent
you from missing any trade opportunities, but it also makes all the
right decisions for you within a self-imposed risk-limit, so as to
minimize your losses (if at all) as far as possible. Each Forex robot is
different, as each has been programmed or developed by a different
person (or groups of people). This gives us a wide range of robots to
choose from.
Some of the newest Expert Advisors include Caliber FX
Pro, Forex Quake, Forex Megadroid, Forex Spectrum, A.I. Forex Robot,
FAPTurbo and Forex Bling. These are only a very select few of the
countless Forex robots available.
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