MyFxBots

 MyFxBots Forex Robots Trading Strategy Analysis, Exploring and Review Page 5

Algorithmic trading, the so-called, automated Forex trading, is a way to gather and coordinate the ideas and principles of one or more of the other manual Forex trading strategies into one computer application that runs on a trading platform like MT4 to give orders to it according to its programming conditions to buy or sell a certain amount of a currency pair at a specific time frame.

As mentioned, this kind of computer program is based on signals derived from technical analysis strategies, this is done by adding instructions to the software to search for certain signals and determine the way of interpreting them. Highly developed advanced platforms as NetTradeX, MetaTrader 4, and MetaTrader 5 come with complementary integrated platforms that allow for such algorithmic trading.

Developing a Forex trading strategy by robots and programs mainly aims to avoid the emotional aspect of manual trading, as it is believed that the psychological interaction with trades prevents them from being reasonable and often impacts trades negatively.

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