What is a Forex Robot? Read This Before Using Forex Robot!

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What is a Forex Robot? Read This Before Using Forex Robot!

What is a Forex Robot?

What is a Forex Robot? Read This Before Using Forex Robot! -Robot Forex or commonly called Expert Adviser (EA) is a tool designed in such a way as to conduct trading on its own with the aim of helping traders who do not want to spend a lot of time observing the market. EA will open a position automatically when the indicator detects an opportunity to buy, sell, and close the trade.

image via markettraders

Who is the creator of Forex Robot?

The robot or EA is designed to only execute the market according to the configuration that has been SET by the maker, namely Forex experts through the type of indicator he uses. So, before the market execution occurs, the forex robot will first detect whether the current market matches the criteria for open positions or not.

How Do Forex Robots Work?

A simple example like this. When we enter the automatic door that has a sensor, the door will open when it detects a human who leads (enters) to the door and then closes again when it has not detected a human being around the door.

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Then, around the door, it must be equipped with CCTV. CCTV is the one who oversees the behavior of the door, who knows that the automatic door suddenly breaks down or is temporarily stuck, nobody knows.

Well, it is an automatic door, here it is assumed as EA, the sensors on the door are indicators, Humans are Market, and CCTV is a trader. So, the door (EA) will not open when there are no humans regarding the sensor (indicator).

What are the types of Forex Robots?

As for there are many kinds of EA scattered out there. We take the simplest example. For example, there is an expert forex maker EA (forex robot) giving the name of the Forex robot the Moving Average EA (in this case he uses the MA indicator). This forex expert sets in his EA that every time there is an intersection between Moving Average 8 and 24, then EA will be programmed to open positions consistently and so on.

What if the electricity goes out?

EA will always watch and warn that the name of the MA intersection without anyone intersection is missed while EA is activated. If it is activated 7/24 or every day, during that time he will wait for the moment to execute the market. If your home has a problem with electricity that suddenly goes out you can rent a cloud computer or VPS. It is like you rent an online PC then you run the EA there.

The conclusion

Forex robots are actually very good used to help us traders in trading, especially those who do not want to spend a lot of time, energy, and mind to analyze market movements. But we need to know, to have this forex robot we have to original it at a pretty fantastic price. Depends on the ratio of profit and loss. The higher the profit ratio, the more expensive it will be.

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It is recommended before we buy a forex robot, make sure we see examples of the results of statistics from people who have used it. If you can increase capital from day to day, then the robot is worth trying. Well, that was the explanation of what a forex robot is, hopefully, it’s useful and I say greetings of profit!

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