Online forex trading robots.
An online forex trading robot is really a program or application based on a set of pre-programmed forex signals, which assist you in deciding when to purchase or sell a particular currency pair at some one point in time. These forex robots are developed with the sole purpose of making currency trading easier for you by eliminating the emotional factor from your trading. Basically, these programs are designed to receive and decipher signals that come from all over the world in real-time. They then apply this information in order to generate profitable trades for both you and the foreign exchange market. However, there are many types of these programs available, so you should do a little research before selecting the one which is best suited for your needs.
The most popular among the various types of online forex trading robots available today are the four types of signal generators. These types are the LLL, the MMQ, the RCTPA, and the FAP Turbo. All four employ different strategies which attempt to generate profitable trades for their users. The most popular among these strategies is the LLL. This type of program attempts to look for signals that state that a particular currency will soon begin to trend towards the ascending direction rather than the declining direction. Once it senses a trend like this, it will make a trade and move your currency accordingly.
The next type of online forex trading robots is the MMQ type. The MMQ program is also known as the Moving Average Convergence Divergence. It employs the idea of moving averages, which are used in order to detect changing trends and price fluctuations. Once the MAs diverges too far from the moving average line, it considers it to be a high probability trading opportunity. Once this occurs, the robot will make a trade and notify you so that you can trade accordingly.
Another forex robot which is extremely popular among currency traders is the RCTPA or the Reverse Correlated Time and Price Analysis robot. It is commonly known as the Megadroid. It was created by the Artificial Intelligence researchers at the Massachusetts Institute of Technology. It employs an innovative statistical method known as the RCPTA, which is capable of generating reliable trends and predictions. Because this robot can analyze data from three different time frames, it enables traders to enter trades at different times.
The third type of robot is the FAP Turbo. This robot was created by the artificial intelligence system named IvyBot. Unlike all the previous forms robots, FAP Turbo specifically generates profits from only a handful of currency pairs. This is attributed to the fact that this currency pair, the USD/JPY, is very lucrative. Other robots may generate profit from other currency pairs but not the highly profitable USD/JPY.
Expert Advisors, also called EA's, is another group of automated trading systems which attempt to reduce the amount of loss that occurs during forex trades. However, there are still some instances where loss is inevitable. The problem with EA's is that most are unable to generate consistent profits. If this happens, the trader will lose more money than he initially had. Because of this problem, expert advisors were developed so that the investor would be able to maximize the profitability of his transactions. They are basically a form of robot.
One of the latest forex robots is the bitcoin robot. This particular robot will automatically conduct 14 different kinds of trades, all trades made with the use of the bitcoins digital asset. With this software package, traders are assured that they will receive their money on time regardless of the fluctuation in the price of the precious currency. Unlike traditional robots, the bitcoin robot is able to sustain a consistent flow of profits, so long as the user maintains a set schedule for his transactions.
The success rate of these kinds of automated trading systems is very high. In fact, there have been many who have been making profits using this kind of system. However, it is important to note that this kind of system can only generate profits when the owner maintains his transactions on a regular basis. Otherwise, the investment needed in order to operate the system will be pointless.