Auto trading robot review
Bots for auto trading offer a fully automated form of trading. Essentially, the difference between a robot and regular trading is that the technical indicators are read by a program, not a human.
Consequently, the trader does binarynot even need a basic understanding of the process. Simply put, you can run a bot and go to sleep, and it will make a trade for you. However, it also means losing control over your money.
Trading bots – are automated software that trade currencies on your behalf. Trading bots can be built from scratch by an experienced trader, or it can be the trader himself and you will copy his trades.
In most cases the robot will work on a “what if” algorithm. This means that it will place trades only if certain conditions are met. For example, a trading bot can be set up for weekend scalping on the GBP/USD currency pair to take advantage of lower trading volumes.
Likewise the trading bot can be programmed to buy EUR/USD when the RSI is above 30. In any case, once you load your robot, there’s nothing else to do. That is, the end-to-end trading process is completely passive. This is not only suitable for those of you who are not proficient in currency trading, but also for those of you who have limited time.
Theoretically, a trading bot can work 24 hours a day, 7 days a week looking for potential trade opportunities. Because you give the robot the rights to act on your behalf, it will aim to autonomously. This is why trading bots are becoming more and more popular among Russian traders.
- Automatic. This type of programs works completely autonomously. The trader has to set benefit limits and periodically monitor the process. Our robot review says that they cannot assess the overall complexity of the market situation. . They are unable to assess the strength of an emotional impulse before it affects price. It is not difficult for an experienced trader. So bots are always hit hard by impulse news “breakouts”, if they occur at the expiry time.
- Semi-automatic. These are so-called experts, robo-advisors or consultants who work on the principle of a signal rocket. They analyze the market and give the trader ready-made buy/sell signals. The user assesses the situation and decides whether to trade or ignore the signals.
How do bots?
The general principle behind every automatic trading system is the operation of a strategy. At first, certain data are entered into the program, which allow a bot for trading to make decisions, after which it starts to make transactions. Also in trading bots there are the incorporated algorithms according to which they supervise risks and operate the capital. These parameters are expressed in percentages which allows the robot to adjust the process of trade to different deposits.
When bots for trading or trading bots are integrated into a trading platform, i.e., installed in the terminal, the user should either leave the default settings or slightly adjust them according to his requirements. Security of trading transactions grows due to the fact that when trading on, access to the trader’s information is closed and the trading bot can only obtain information about performed trades.
The work of such software is based on a sophisticated algorithm, which gives an automatic trading system the ability to compare and analyze vast amounts of data for the past few years. That’s why there are only few free bots for trading, which offered by the platforms of IQ Option or Olymp Trade. Usually these are demo versions designed for testing.
|Advantage of bots for trading||Disadvantage of bots for trading|
|Minimal stress – psychology takes a back seat||The robot is based only on technical indicators. It cannot interpret in advance the reaction of traders to major news releases or other information. It also does not work with the news and does not study the policies of states, so they can significantly affect the results of trading.|
|Risk control in 24/7 mode (trading bot always monitors the situation)||Works with a limited number of brokers. Not all brokers allow such “cheating”. Therefore, there are less attractive opportunities than in currency trading or other derivatives on exchanges.|
|Bots give a lot of signals because they don’t rest or get distracted|
|Robots allow you to trade without experience and knowledge|
|You can start with a small amount of money (from $5)|
|You can trade on derivatives of a large number of underlying assets (from currency pairs to oil, stocks and gold)|
How to get started with a trading bot or a trading bot?
Trading with bots, if we are working for results, begins with the following:
- Development of a strategy. Bots for trading do not trade instead of us – it takes care of the routine. Planning and strategy – the trader’s job.
- Equipping the technological stack. We need to choose a trading platform in advance, prepare working equipment and a good internet connection. If we trade from some office – everything is simplified. Freelancers need to get up to speed. Power failures or hardware interruptions can severely harm the trading process, because the software is working on its side.
- Bots for trading don’t think that we can lose all of our money. Yes, money management is available for it, we can adjust his SL/TP levels ourselves. But personal control is vital.
The practical part consists of the following steps:registration with a broker;
- activation and depositing of the trading account;
- terminal installation;
- installation of the bot for trading in the trading terminal;
- start of trading.
Trading signals review
- Swing Index – This strategy predicts future short-term price action.
- Open Interest – Open Interest is a helpful tool in analyzing the strength or weakness of a price move.
- Fibonacci Clusters – A trading method that utilizes a grouping of Fibonacci retracements and expansion levels that occurs in close proximity to each other on a price chart.
- Supply and Demand zones – These are the zones where the price is most likely to rise or fall.
- MACD Divergence – Divergence is a tool that can be used to spot potential market reversals by comparing MACD with market direction.
- Detrended Price Oscillator – The oscillator shows overbought or oversold levels which can be used to give buy and sell signals.
- Elliott Wave – Elliott Wave is based on a crowd psychology of booms and busts, rallies and retracements.
There is a list of top trading bots:
OptionRobot – professional robot review
Is one of the most popular trading bots. OptionRobot allows you to set up indicator according to your strategy, which it then uses to generate signals and execute trades directly on your broker’s account. OptionRobot offers either high-risk fast benefits, accurate, or safe and secure money management strategies.
Is another very popular trading bot. It works similar to the Optionrobot in many ways. At the moment, FX. Masterbot offers 17 currency pairs, as the assets you can trade with.
Is another acclaimed robot. Binaryrobot365 busted into the scene just over a year ago. It has gained massive popularity since then. One of the good things about it is that you don’t have to complete any robot software downloads to get access to the services.
are working hard to establish themselves as a reputable trading bot platform with 24 hour customer support, 7 days a week. They also offer trading systems that you won’t find on other platforms to trade even when not active online although the safeguard of an automatic stop loss means that you won’t lose too much on a bad day.
Unlike some trading bots software offerings that make lots of bold claims, DAXrobot is straightforward and transparent with everything you need to know listed on their website for all to see. From details of every broker to the breakdown of trading systems and signals all of the information is displayed clearly. All you need to do is choose your broker and select your settings.
You can try to use trading bots for by registering on the IQ Option or Binomo platform. This is one of the most reliable and trustful brokers, which provides a high level service and will be a good companion for trading world exploration.