Depending on the capabilities of the robot, its owner can only monitor the actions of his assistant, or take a direct part in the trade. 

You get an automatic system for earning almost without your participation, which adapts to individual goals and objectives: you can set a stop loss order (SL) to protect against financial losses; put your position at breakeven; pull up SL following the price movement (trailing stop). It is possible to turn on the level of taking the desired profit (take profit order). Also learn more about kucoin trading bot. 

How to choose a Forex trading advisor?

The service of automatic trading with the help of an adviser is in high demand, therefore, a large number of programs are on the market. It should be noted right away that Forex advisors can be tested for free only for informational purposes. Nobody guarantees their performance. In addition, if developers and traders have spent their own time and resources developing a robot, they are unlikely to share it for free.  

When choosing, first of all, you should decide on the type of trading robot, as well as the strategy that underlies its algorithm. For example, a trader can use trading robots in the stock market that will manage a portfolio of securities, such as stocks of large companies or government bonds.

 Next, you should give preference to the algorithm of the robot. The largest number of individual strategies to choose from is provided by the foreign exchange market. For example, it is possible to choose a Forex arbitrage advisor that makes a profit on the difference between two currency pairs that are highly correlated with each other. Market volatility provides the trader with the maximum number of profit opportunities. The yield range ranges from 10% to 300% and depends on the correct technical settings. 

You need to buy a trading robot only once so that it works for you all the time. In fact, with the advent of online trading, the dreams of many about saving their time and earning more have come true. Professional traders do not need to constantly monitor the chart in search of trading opportunities. Novice investors can try out a new type of income with the support of a reliable trading program. 

Benefits of trading with a robot

The main advantage of trading with a robot is the absence of a human factor. The EA excludes human emotions such as fear or greed. It works according to a strict algorithm and makes a deal not on the basis of assumptions, but guided by signals coming from the market.

Speaking of signals, it is impossible to ignore the fact that the speed of the machine significantly exceeds human resources. Robots are able to analyze hundreds of charts at a time, they work around the clock and never get tired.

When connecting a trading robot, you should take into account that the uninterrupted operation of the adviser is ensured by connection to a remote VPS service. If there is no connection to the server, the robot will only trade when your computer is turned on and has access to the Internet.

What are the disadvantages of a robot?

The cons of a quality trading bot are extremely hard to spot. The disadvantage is the very principle of the operation of artificial intelligence, which, despite the high speed and clarity of work, cannot yet be compared with the work of the human brain. This means that the activity of your robot needs to be monitored, and if necessary, adjust the trading strategy based on the results obtained. 

The wrong choice of a robot, the lack of a trading strategy, the inability to understand the settings, multiplied by the lack of experience, lead to the fact that people lose their money and permanently refuse the services of a trading bot, and also spread information that this is a "scam" and a "scam" from a broker. Any activity in the financial markets is subject to risk, and the trader is solely responsible for his actions.