The foreign currency exchange market moves in waves and it can at times be deceitful in its direction. This wave like motion in the market can cause human emotion to play all kinds of tricks on the mind and often lead to the wrong decision being made. A forex trade robot can alleviate this human emotion and act on the facts alone.
Currency trading is mainly planned on technical data which allows a trader to make decisions based on previous price action of a currency. A currency exchange robot can take out the human emotion and purely rely on this accurate data to map out where it things a currency price will go.
The currency market is a trending market that tends to repeat itself. When a currency is displayed on a chart as repeatedly returning to a certain level this is known as support and resistance. Support and resistance are the basics to all currency traders trading decisions in one form or another.
When an expert currency advisor looks at these past levels of support and resistance they can assume where the price might go next. It will depend on the type of trading that the advisor is undertaking to how far back he might look into these levels.
Being able to use this technical data to give a trader the information required to enter and exit trades; where to place their fixed or trailing stop loss can all be done by the currency trading software. This information can be calculated in an instant by the currency trading software.
How much interactivity you have with your currency exchange robot is down to you. You may want to use it just for the beginning of your trades or you might like to use it to plan and carry out your trades with no human intervention. I personally made more than 8 times on my money using a Forex automated trading robot.
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