Forex trading robots make your Forex trading experience easier. They help to take away a lot of the ‘manual hassle’ of constantly updating, buying and selling. They make observed predictions of the way your Forex pairs will go, and automatically make the sale or buy for your account (also known as an ‘automatic Forex trading system). Not all Forex trading robots are of the same quality, though, and by making a poor choice you could lose your Forex trading account. Here are some of the more dependable and well-liked Forex trading robots:
The 200 EMA (Exponential Moving Average) is the staple of nearly all Forex traders diets. It’s an easily accessible trading robot that is clearly marked and easy to manipulate. It’s also usually the first one that many new to Forex trading begin with- without getting intimidated.
The Bollinger Band System is used to monitor how large or quiet a leap the Forex market takes or trends go, by using visual ‘bands’ that show increases or decreases. More advanced traders use them for more than monitoring and have tricks to use them to help them build their Forex account.
The RSI (Relative Strength Index) is exactly what the name implies: it shows you when something is over-sold or over-bought, and indicates the probable trends. When the RSI rises, it’s over-bought and lower is over-sold. A simple system for a clear and valuable guage.
The MACD (Moving Average Convergence Divergence) is a good Forex trading robot for longer-term, more careful choices within your Forex trading. It has the potential to help boost profits immensely, but it isn’t as risky as other Forex robots because it’s spread out over more time.
The Fap Turbo is a newbie in the line of Forex trading robots, and less expensive with more ‘frills,’ maybe- but it does pretty much the same job as the MACD. The main difference is that you have more options for streamlining for your Forex trading purposes.
There they are, the top 5 in Forex trading robots. These are the basic tools anyone looking to even test out Forex trading should have.