Handing Your Trading to The Forex Robot
What is forex robot? It is a one of the trading softwares that will automates the trading decisions on the currency trading sites. This is also one of the most popular robots around the world for retail traders created by the MT platform. This robot runs on MT or what we called MetaTrader as as expert adviser and they can even do anything especially when giving you a signal for placing a trade and it manages the trades automatically.
The Pros and Cons of the Robot: If you have that kind of strategy that is very strict and does not even require any of the decision-making processes, then you can program the robot for he’s the only to trade for you all day.
There are a lot of companies are creating and selling forex robot, but you yourself must be careful when dealing each of them to avoid any scams and other complications, that’s only one of the disadvantages of buying a forex robot. And if you are planning to buy a forex robot, then please do your own research more about it. This is the best way for you to make deal the best forex robot.
Data-Mining Bias. This is one of the unspoken enemies among of the traders who are purchasing the robots. It is refer to the process of the picking the best backtest among of the others. If you still know him, one of the leaders of the fights for making an investor be aware of the data-mining bias. He is David Aronson. He’s the author of the book entitled Evidence-Based Technical Analysis.
Successful Robots. Many robots are successful around the world, yet there’s still among them that are not. BUT aware yourself of the data-mining bias that’s usually in front and the center of the most made-for-purchases system.
This system will be the one that maintains edges and also managing the risk. Although, they are less about the high win rates but more about the position sizing and the cutting the losses.