Trading Robots Will Do Everything For You
Do not want to bother looking for opportunities in the chart or busy determining the position of Entry, Stop Loss and Take Profit manually? A trading robot (Expert Advisor or EA) can be an answer. Because of the sophistication of this tool, you don't even need to monitor the platform and let everything be executed automatically by the trading robot. In short, you just have to buy and install a robot, then let it work to collect profits for you. Besides being able to run automatically, the trading robot also avoids the influx of emotions in trading transactions.
Like a magical solution that can solve all trading problems, many robots are considered as tools that can do everything for traders. In fact, price movements in the forex market are constantly changing and are dynamic, while trading robots only work according to algorithms that are set with certain rules. That is, when there is an unexpected turmoil in the forex market, trading robots will have difficulty adjusting to the changes that occur.
This can result in large losses on trading positions that are automatically installed by trading robots. Remember, price movements in the forex market are not only influenced by technical decisions, but also impact news and market sentiment.
In addition, there are extra costs that must be incurred if you want to get the optimal benefits from using a trading robot, which is the cost used to rent VPS. Installing robots also requires knowledge (though not necessarily much) about the MQL4 programming language, because from there you can find out how the robot works and make adjustments if there are changes in market conditions. One more thing that makes expectations vs. reality of trading robots so contrast is: You also need to regularly monitor the performance of trading robots.
So basically, using a trading robot is actually almost as complex as trading itself. There are still jobs that you need to do regularly, even though trading robots do have the role of executing your transactions automatically. In addition, think about the additional costs that you need to prepare to buy a robot and rent a VPS. This also does not include preparation for learning to choose a reliable trading robot.
As information, the trading robot market is one of the most fulfilled by fraudsters with sky-high profit lure. So, it's best not to use a trading robot when you are a beginner and want to take it easy.