So what exactly is a Forex robot? Is it just a piece of software that you install in your meta-trader platform. Still trying to get more info, still fairly new to the game.
Cheers!
A forex robot is an EA. An EA is an expert adviser. An EA is something that trades on your behalf. It has preset conditions on which to open long or short trades and when to close them. Now the thing to know about EA’s is that most of them are trash. Most of them don’t pull a profit and if they do…its not long lived.
My best piece of advice for you is to read over Babypips school of pipsology and then find a trading plan that works for you. Try experimenting with different systems using different methods and indicators. You’ll eventually find a couple that work for you and you’ll create your own method.
Thanks, for the information. I’ll continue to read pipsology section and see what i can get out of it.
Thanks again for the advice!
The advice is good.
But also you should start some trading activities to know if you are suitable for manual trading or automatic trading.
there are plenty of good system, the point will not be there, but on yourself, do you will be able to wait, to follow them ect… emotion questions.
Using a robot is a litle bit different since the EA trade for you.