Psychology is the Achilles’ heel of any trader and trading robots can help. Moreover, this stone is the most slippery on the trader’s path. You can be absolutely sure of your steadfastness and determination, but when there is a lot of money at stake, the market, having made a couple of sharp reversals near the stop loss and take profit , will make anyone nervous and, possibly, close the position prematurely. The robot, as you understand, does not possess emotions and will follow the program laid down in it to the end.
Forex trading, in its essence, is opening and closing positions at favorable (from the point of view of the trading system) times. Ninety-nine percent of a trader’s job is waiting. More precisely, this is market analysis and waiting for a favorable moment to enter the market. In this case, it is important not to break the wood and not to conclude a deal ahead of time.
Don’t start trading just for the sake of trading. You can sit yourself day and night, without taking your eyes off the monitor, and at the same time, with iron restraint, open and close positions at a given price. Or you can entrust this task to a trading robot. Strict adherence to the inherent algorithm is the strength and weakness of a trading robot.
The fact is that it is rather difficult to foresee all possible situations that arise in the course of trading. The more different situations the trading robot’s algorithm takes into account, the more flexible and stable it is. And there can be a great variety of situations: from a banal power outage or disconnection of the Internet connection to an alien invasion :-).
In the trading robots section, you can find simple implementations of various trading methods.
All offered trading robots are absolutely free and can be a good help for you in creating your own automated trading systems.
Immediately I draw your attention to the fact that the programs include only a pure trading algorithm without taking into account possible failures associated with a variety of situations that arise in the course of work.
Therefore, traiding robots are rather for informational purposes, helping you understand the basics of automated trading. They will work, of course, but I strongly advise you to install them only on demo accounts…. The downloaded file is a program in the MQL4 language. By opening the file in the MQL4 editor built into the MetaTrader4 terminal, you will see this program and can, if necessary, make your own adjustments to it. You have to install a trading robot in the MetaTrader4 terminal . The MQL4 Programming section will help you understand the basics of programming.
A trading robot has no emotions, neither fear nor greed is inherent in it . A trading robot will strictly follow the algorithm laid down in it, like a terminator, performing the task assigned to it.
At the same time, your task is to put this correct algorithm into it, which provides for the maximum possible scenarios for the development of events and gives it the maximum possible flexibility.