A forex robot is an automated forex trading system that does all of the trading for you. You simply set it up on your trading platform and leave it to run so that it will enter, manage and exit trades for you. They are usually developed for the free MetaTrader 4 trading terminal and are very easy to setup, all coming with easy to understand instruction manuals.
Forex robots do not require any trading experience or knowledge thus they make it possible for anyone to make money trading the forex market. With so many commercial forex robots available, ForexRobot.com makes it simple and easy for you to choose the best forex robot for you by comparing them all in one place! All you need is the MetatRader 4 terminal and a demo or real forex broker account.
Forex robots are very clever automated trading strategies built using complex algorithms that can perform extremely detailed analysis in just milliseconds. They can do tasks that are impossible for humans to do manually and are usually coded in the mql programming language. MetaQuotes Language 4 (MQL4) is an integrated programming language for developing forex trading strategies allowing you to create forex robots, technical indicators, scripts, and function libraries for use on the MetaTrader 4 trading terminal.
There are no complex settings with forex robots and they are ready to use out of the box. However, they can be customized should you wish to do so. Customization is usually done by first conducting a forex robot optimization on mulitple currency pairs/timeframes in the MetaTrader 4 strategy tester and then saving the best settings as preset files to use on charts.
Using a forex robot means that you do not need to chart watch all day and can enjoy your life whilst the robot trades for you fully automated and makes you money! Should you not be able to leave your computer running the MetaTrader 4 trading terminal and forex robot then you can simply purchase a inexpensive Forex VPS to run it for you 24/7.
Forex robots contain all the features required for a successful trading system including stop losses, take profits, technical indicators, price action analysis, fundamental filters, news filters, trend/range detectors, trading hours, trading days, spread/slippage filters, multiple currency pairs/timeframes and much more! If all of this makes no sense to you at all then do not worry. You do not even need to know what any of those mean as the forex robot does all the hard work for you. Just set it up in a few minutes and leave it to work its magic!