socialmedian: So What Exactly is a Forex Robot or Expert Advisor?

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So What Exactly is a Forex Robot or Expert Advisor?

Submitted by Mmentors

May 07, 2009

Summary

A forex robot or expert advisor is simply an automated forex trading software designed to automatically place trades and/or to signal entry and exit points for you throughout the trading day in hopes of gaining pips and increasing your account. This little script is installed onto whatever trading platform you are using to trade in the forex market. Below you will find an image of the trading platform I use to trade in the Forex market. It’s called the Metatrader 4 and is probably the most popular trading platform made available to traders by a majority of Forex brokers. Read the full article

Comments (3)

Sydney43,

May 08, 2009

I have a friend who uses this kind of software. He absolutely does make money some of the time, but it surely isn't perfect because he's lost as well. If only it were that simple then everybody could just invest in the software and make money every day. Still, for someone like me who knows so little about the markets, I can see it's value - as long as it's used with caution and knowledge.

Bbunney,

May 10, 2009

I had never heard of the software before, and I can see that it might be a good aid, but as Sydney indicates maybe not foolproof.

Freeatlastjulie,

May 10, 2009

I can see that a machine would and does have it's advantages, perhaps more for the experienced trader, I think someone new venturing into this field would still need that personal touch, as professionals in this field the majority of traders/brokers would be above the greed and fear factor.