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[Oluti]

There are advantages to using forex robots. A forex robot should be used only as a part of your overall trading plan. The right robot, used correctly, can add some padding to your bottom line.

The are several advantages to using forex robots.

Forex Robots are not Emotional with the Market
A forex robot will follow your directions no matter what. It won't panic and close the trade because it feels like it opened it too soon or too late.

It plays by the rules no matter the condition or status of the markets.

Forex Robots Trade While You Sleep
Forex robots stay on until you turn them off. You could be sleeping or just enjoying time with your family. The robot will keep it's eye on the market and trade according to the rules that you set.

A forex robot is not a good solo strategy, because they are fallible. Not only that, but it's good to understand the markets and trading that you are looking at, even if the robot is doing the work. That experience comes best as trading forex regularly. Forex robots can help you test and develop strategies that work, if you understand how to use them.

It's not likely that a forex robot will make you a millionaire, despite what you may have heard, but it could add a few points to your bottom line. Be careful who you deal with and always test them on demo accounts for an extended period of time before using them live

 

[kerryjoy]

If you are aware of their limitations, I believe that using forex robots can be a wise addition to a well-rounded trading strategy. Personally, I value that robots eliminate emotional judgment from trading; they don't hesitate, panic, or become avaricious. Maintaining that level of consistency can be very beneficial for discipline. They also let you run strategies around-the-clock, even while you're sleeping, which is great for anyone who isn't constantly staring at charts. Nevertheless, I concur that they are not magical money makers. They are most effective, in my experience, when combined with ongoing backtesting and my own market analysis. I always begin with demo accounts and only launch when I'm sure of the strategy's reasoning.