For a beginner in forex trading, certainly less familiar with the name forex robot, and when asked about it, they most likely will not be able to answer.
Understanding of the Forex Robot or so-called Expert Advisors (EA), is a computer program that has been designed to perform automatic forex trading. Forex robot can do the transaction open and close the transaction on their own without human intervention. Designed with complex algorithms and only support the specific trading platform, the most widely used platform that is Meta Trader 4.
At the time of forex robot is run, an internet connection must be stable, while the PC or laptop must be minimal from any interference. Therefore, the best way to run a forex robot is to use a Virtual Private Server (VPS). VPS can be likened to hire you hire site hosting on a server. Once you are connected to the VPS, which was exactly the same look with a view on our computer. We recommend that you select using the Windows OS because MT4 broker is given mostly runs on windows platform.
While the benefits we derive from using VPS: Trading can be online 24 hours non-stop without any interference such as lights off, the internet connection dropped or the computer hangs.
Why Forex Robot is needed by a Trader
A successful trader has a trading system, respectively, in accordance with his character. The system does not suddenly possessed by the trader, but through experience and experimentation. Successful Trader will run a highly disciplined system by ignoring psychological factors experienced. Psychological factors are the closest enemy and main inside a Trader. By the time a trader involves emotion, lust for profit continues to grow and has a feeling of revenge, then you could say the same thing to waste money in just a few seconds. When you look at data from various sources, 90% of new entrants in the world of forex, Autumn before they realize what he has done with his money. 10% still survive and strive to improve the way trading.
Therefore, Forex robots are created to eliminate the psychological side at the time of trading. Robot just run things according to his orders only and which the plot has been specified. But not all people want to waste time to learn forex. And they just want the shortcut, in order to quickly make money from forex. Forex robots being taken way out and be powerful. Because most users is a Forex Robot Trader Beginners are often much a loss when the transaction in forex trading. A Beginner Traders often experience loss, usually very curious about forex trading, and they are aware of the potential contained in forex profits is enormous, only when manual trading is always experienced loss that they can not avoid.
Necessary for you to understand, that no forex robot is 100% perfect. A good idea to read a lot about the subject is important, both Fundamental Analysis and Technical Analysis, so you can not always depend on the Forex Robot.