Many forex investors are increasingly looking to forex robots for signals and automation purposes. In spite of its many functionalities, you must decide for yourself if you need one and how best to utilise it.
What is it?
Forex robots are forex trading software that helps the trader automate trading decisions based on preconfigured algorithms. They generate signals and can even enter and manage the trades.
Why do traders use it?
Traders with simple, straight-forward strategies can simply program it in the forex robot for it to trade automatically, even 24-hours, as long as the market stays open. There is no need for human intervention and the excess time can be better used in other forms of forex analysis and research.