Advantages and Disadvantages of Using Robot Trading
Maybe not many traders know that trading activities advantages can be done automatically by using a robot. Commonly used terms for this are Expert Advisor or Auto trading Robot. In this case, the robot used is not necessarily physical, but a software that can work alone in looking for open trade opportunities in the forex market. This robot will certainly do open sell orders or open buy automatically, although not monitored by you.
Although using a robot, does not mean you do not do anything. Most of these forex robots are designed to perform automated trading in accordance with cfd trading strategies governed by the user’s trader.
In every path you choose, there must always be benefits and risks behind it. Then, what are the advantages and disadvantages of using a trading robot that you need to know?
Advantages of Using Trading Robot
Perhaps you need to be very focused on monitoring the screen to check the chart every time when trading manually. This can take up a lot of your precious time. The benefit of using a forex robot is that you can have a lot of free time, while your trading activities are still running according to what you have set.
In forex analysis, no longer requires manual and deep analysis again. The analysis is based on the performance of individual/ system/trader. However, once there is spare time, it never hurts to occasionally explore the analysis.
Because using a robot, there will be no human emotions when it gets a profit or gets a loss. Overtrading is rare once using automated trading like this.
Trading Robot Losses
The cost you have to spend for trading using trading robots can be more expensive. You are required to pay a commission for the signal provider or system used. However, this does not apply to traders who use their personal trading robots.
Although done automatically, unfortunately, this trading robot is less agile. You must follow, and cannot decide to open trade in the middle of the road. However, there are some systems from brokers who can do things like this. Once you feel unsuited to the trading that is being undertaken, the trader can decide to stop.
Because the assigned tasks on the selected robot, the trader is limited to improvise and develop in conducting trading activities. In fact, this trading robot cannot be used during high impact news.
Once you know the advantages and disadvantages of using a trading robot, are you interested to try it? We recommend that you build confidence when first handed out in a manual way and get a little profit at the beginning. Most experienced traders will usually optimize the use of their forex robots to achieve greater profits. Maybe useful.