How to start trading forex with robots
Manage episode 274372304 series 2778072
By FXZig. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.
There are many ways to use a trading robot and here are some of them:
- to close trades only - such robots usually perform custom trailing stop (custom because most of the platforms offer integrated trailing stop and you need a robot for that only when it differs from the original) but also can be used for other complex rules when stop-loss and take profit are not enough.
- to test a strategy - sometimes you have an idea for trading, you have clear rules when to open and close, and you want to see how this works.
You can see several cases, but only a trading robot can test all cases and give you a result of what will happen if those rules were applied in the past.
The most simple way is to use a trading platform that has integrated robots support.
Opening a position may look simple for a human, but there are many things to take care of if you are using a trading robot.
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