You can try to earn money on the foreign exchange market. Maybe you have heard that someone was lucky, someone made a profit, using their knowledge and experience. However, there are people who, believing in numerous advertisements, buy an unlimited number of automated trading systems and are waiting for the moment to seize their luck.
To Use or Not To Use?
It is necessary to consider the automated trading system more closely. So-called “Bots” (as they are called by the developers) or the robots, in other words, are the assistants in Forex trading. Many traders, among whom there are mostly beginners, often blindly trust the electronic assistant. Is it worth it? The programs are somewhat adjusted to a certain video graph of the history of quotations. But you need to consider that any option requires a detailed layout, and is not universal. The robot is unable to think like a person despite the ability to analyze a huge number of options.
But, on the other hand, you can achieve certain positive results if you:
– carefully analyze all possible situations,
– compose a strategy for the future trade,
– and, most importantly, strictly follow the work of bots.
Common Beliefs Vs. Reality
To do this, it is necessary to exclude from trading the robot that failed. Many people believe the advertising: switch on the program, do whatever you want, and simply just prepare a purse to pack it with profit. That’s not true, as success is not possible without certain knowledge and experience.
It is worth paying attention to the fact that the new traders quickly leave trading on the Forex market as all the funds are lost. This is also due to the use of bots. After the purchasing automated systems on the Internet and uploading them to your computer or mobile phone, do not expect positive results straight away.
Using bots, trusting them blindly, beginners are at great risk. There may be a positive result for a short period of time, and then failures begin, resulting in a complete loss of all funds and withdrawal from the market. Automated trading systems fail for several reasons:
– no developer will be able to test their bots on all lists of Forex,
– the inability to predict all market scenarios.
Therefore, for a moment it’s not possible to trust the trading robots completely, but to discard them from the account is also wrong. The best option that can be considered is the use of automation of the trade process, but under own strategy. Without the knowledge of trader’s art and programming, it will be difficult to achieve great success. However, if you learn and examine, everything will work well for you.