Ibbroker.canovel.org.- Actually it’s no secret if many traders can reach big profits by using an automatic trading system like a forex robot. So, can forex robots be used on smart phones? Here are all things about forex robots for Android that you should know.
What is a forex robot?
Forex robots are a specially programmed software to help humans in trading automatically. Forex robots work based on the ‘implanted’ trading algorithm in the software. This Forex Trading Robot is also known as Expert Advisor and can be relied upon for all forms of trading transactions, but the ability of forex robots is certainly different from being developed with different strategies.
The appearance of the Forex trading robot is considered a solution for traders who want to be practical in trading but there is no time to learn technical and fundamental analysis. Trading robots help traders to control emotions when transacting because they can automatically run transactions with more measurable analysis. Traders do not need to intensely monitor the forex market movement.
How do I choose forex robots?
For beginners or experienced traders choose forex robots certainly not easy, even though the forex robot is not something difficult to find on the market. Unfortunately, you can’t as long as you put a forex robot on the trading platform and Voila wait until the profit.
You must know whether the forex broker you have chosen allows trading using a forex robot. Then if it’s possible, whether compatible is used with a trading platform and can make trading transactions at any pair or only certain pairs.
Some Forex brokers have also provided forex trading robots they develop, so you cannot use forex trading robots carelessly from other parties. Also make sure the trading robot that has been selected is a forex robot for Android that can be used on a smartphone.
There are a number of things you should pay attention to before choosing a forex robot for a paid trading robot or free trading robot.Understand how the trading robot works
Even though the forex autopilot robot works automatically but still EA is just a tool for a trader. You still must understand the mechanism and trading strategy properly because the robot remains a robot that is only able to do what is ordered. Therefore, it is important for you to understand more about trading by learning forex so that later this forex robot is able to help you according to what is expected.
Perform testing on forex robots
Make sure the forex robot you choose has been tested with data a few years behind (backtest) and current data (forward test). Why need to be done? Because you need to test how proficient and whether it is in line with the big advantage offered by the robot. This test applies to paid forex robots or free trading robots.
With testing, you will avoid fatal mistakes that can cause harm when trading. Most Expert Advisor testing can only be done on Live Trading accounts not on a demo account. In this test, you will find out whether the Forex robot can be used on a smartphone or not. Make sure that the forex robot is a forex robot for Android, so it is practically used.
Notice the forex broker you choose
Not all Forex brokers allow trading transactions using robots. Therefore, make sure the forex broker you choose allow traders to use Expert Advisor and also make sure that EA is compatible with the trading platform that you have. To make it easier for trading, select Forex robots for Android or compatible forex robots used on smart phones.
Some Forex brokers also provide the forex trading robot services they develop, so you cannot use expert advisors carelessly from other parties. The election of EA is also usually tailored to the currency pair which is presented and the number of deposits is a trader.
Understand the forex robot products offered
If anyone promises a forex robot can reach a consistent profit that doesn’t make sense, don’t be easily tempted especially if the broker that offers is a forex broker that is not trusted and not regulated. You must remember that trading is the same as other businesses having risks. The main key to success trading is depending on the way you manage risk.
Then, is there a forex robot that can be used on an Android phone?
Currently there are many forex robots that can be used on smartphones with records, forex robots that you use are allowed by forex brokers and are compatible with trading platforms. Simply put, you can install a forex robot first for Android on your Live Trading account through a trading platform