When robots meet humans in forex trading - Born2Invest

Posted: 02 Nov 2019 12:00 AM PDT

Conducting Forex trading with the assistance of robots is not as simple an idea as many people think it is. While robots often provide some well-defined benefits for their human traders, their use in this market is a topic that deserves a closer look.

In the modern economy of automation and AI, a fresh generation of tech-savvy traders are changing the market by applying new software and other new technologies. These changes beg the question: what effect will robots have on human trading?

Automation in forex

The currency exchange market requires a particularly high level of commitment if you expect any kind of success. After all, we're talking about the most liquid market in the world. According to Nasdaq, Forex is the most actively traded market in the world, with $5 trillion traded every single day. This figure is 25-times higher than global equities trading. At the same time, Forex is constantly moving, so tracking it in any meaningful way is a daunting task.

This is of course where robots enter the picture. If you're unaware, Forex has its own specific robots dedicated purely towards international currency exchange. A dedicated Forex robot is merely a piece of trading software that automates trading decisions. These robots are typically given pre-sets which they then act upon on an ongoing basis.

You can utilize them for anything from placing a trade to managing trades for you automatically. This level of customization and automation in the trading process has brought more attention to these advanced trading tools.

What do robots have that humans don't?

You'll need to maintain successful trader values to succeed on the market. (Source)

Robots are capable of performing many functions which humans cannot. For starters, we are all becoming painfully aware of the extent to which human cognitive abilities cannot outcompete well-designed software. However, they come with several shortcomings that require human attention for them to remain effective.

There is one key area, emotions, where they are not as fallible as humans. This is what really matters in a market as liquid and fast-moving as Forex. These new robots simply don't make the same kinds of mistakes that people do.

If you're wondering what holds many potentially great traders back in Forex, human bias usually plays a key role. As educated and prepared as we all are, emotions like fear and pride can easily factor into our trading. People are all liable to suffer from at least one of the following when trying to optimize their trading:

Fear and hesitation
Pride and ego
Greed
Lack of confidence
Confirmation bias
Fatigue

There are many problems that people, including professionals, can face when trading. If you were looking for a complete list of the individual biases that affect trading, it could go on forever.

If you want to utilize an automated strategy that requires minimal human involvement, you could pre-set a robot to trade for you 24 hours a day. The key is picking the right one because, believe it or not, robots suffer from biases that humans do not.

The thing is that they can complement the trading process, but they can't handle all of the problems that people resort to them for. Regardless of how you use a robot for your trading, you'll need to maintain successful trader values to succeed on the market.

The bridge between human & automated trading

This picture show an app monitoring some information. — Robots often provide some well-defined benefits for their human traders. (Source)

While automated trading is only going to become more useful and more popular, it's important to understand where automation can help you. Robots are brilliant when it comes to:

Removing emotion from the trading process
Making fast, advanced calculations without error
Trading 24/7, even when you're sleeping
Running multiple programs simultaneously and effectively
Short-term trades

While these benefits are all amazing and can help you greatly with your trading, you must be aware that they're not a be-all-end-all solution to the challenges of the market. As previously mentioned, trading robots have their shortcomings, including:

Data-mining bias
Rigidity without human intervention
Mechanical failures
Over-optimization

While some of these terms may seem surprising at first, consider that a robot can only follow binary instructions. So, while "bias" may sound like a uniquely human problem, robots suffer from a bias in their own way. The data-mining bias that they suffer takes place when they select the best backtests out of a series of hundreds of backtests, assuming that the cherry-picked backtest is the best one for the human trader to purchase

Conclusion

In the end, it is your responsibility as the human in the situation to ensure that your trading is optimized to your liking. If a robot is going to play a part in your trading, it's important that you not only understand how they work, but that you understand how your human strengths and shortcomings both interact with your robot and its abilities.

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(Featured image by Kevin Ku via Unsplash)

DISCLAIMER: This article expresses my own ideas and opinions. Any information I have shared are from sources that I believe to be reliable and accurate. I did not receive any financial compensation for writing this post, nor do I own any shares in any company I've mentioned. I encourage any reader to do their own diligent research first before making any investment decisions.

Best Forex Trading Robot for 2019 - iTech Post

Posted: 05 Sep 2019 12:00 AM PDT

Tech

The basic purpose served by commercial forex trading robots is to trade the forex market automatically. These robots sort out the highest gain percentage and stats by default. However, it has now become harder to find the best forex trading robot.

If you have got a robot which comes with a red indicator warning, then avoid using it. Below you can check out some great options suggested from our side.

1- WATTHANAKOM CHAIJINDA FOREX TRADING ROBOT - TRADE WITH 95.82% ACCURACY

Watthanakom Chaijinda forex trading robot is one of the highly recommended trading robots. Most importantly, this trading robot trade with 95.82% accuracy in all sorts of market conditions.

It manages to double real monetary deposits fast and quickly. One can say that Forex Fab Turbo is one of the reliable to use trading robots. It has captured and grabbed thousands number of customers.

The maker of this product claims to give instant and satisfactory results in less than 30 days. So far this is the only and exclusive automated forex income solution product which seamlessly double real monetary deposits under the time frame of 30 days.

PROS

Trade With 95.82% Accuracy.
Thousands of Satisfied Customers.
Claims to give satisfying results in 30 days time frame.

CONS

2- FAPTURBO FOREX TRADING ROBOT - TRADE WITH 8 CURRENCY PAIRS AT HIGH FREQUENCY

You might be wondering why to use this Fapturbo Forex Trading Robot? It is because of the reason that Fapturbo 2.0 has the capacity to trade with 8 currency pairs at the highest frequency range.

You can call it an automated money making robot as well. This reviewed and the specific app needs your consent so that it can easily access the open network sockets and also other data and information.

In addition, it is built and designed to make money only. Besides, it is observed that in just 12 months time frame, a $200 investment may become and turn out to be $740.38. Thus, the number of advantages offered by this forex trading robot, they are quite obvious.

PROS

CONS

Expensive to buy.

3- FOREX DAILY PROFITS FOREX TRADING ROBOT - LIFETIME FREE UPGRADES

Forex Daily Profits Forex Trading Robot comes with Lifetime free Upgrades and this is the promising part about this trading robot. It is in the past 12 months time frame that it has managed to give 51,140 pips profit.

This is a fully automated trading robot. Even more, just 5 minutes are needed to set up and install it. Using this trading robot comes with low risk. Upon buying this product, you will get a free Email Expert which is worthy of $14.99.

It means that whenever any order is going to get closed, then the user will get an email or SMS carrying all the details and needed information in it.

PROS

51,140 pips profit so far in the past 12 months.
Lifetime FREE Upgrades.
Low Risk.
Free Email Expert.
Free Visual Fibonacci Indicator.

CONS

4- FOREX XSTREAM EA EXPERT ADVISOR ROBOT TRADING SOFTWARE - FULL SUPPORT WITH EA SETUP

Lastly, we have Forex xStream EA Expert Advisor Robot Trading software for you. This suggested and immensely popular trading robot gives 95% monthly profit and also 100% Money back guarantee.

Most importantly, it shows full support with EA Setup. It is developed and created by Wall Street experts. To receive a real trading experience, you can use this trading robot.

Most noteworthy, this trading software has been in use for over 20 plus years. It does not matter which way the trading market is going, this robot will make it level best to make money for you.

PROS

Gives 95% monthly profits.
100% Money back guarantee.
Full support with EA Setup.

CONS

CONCLUSION

So, which forex trading robot you are interested in using? Let us know. If you are using some other trading platform, then share your good and bad experiences as well.

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