Are Forex Robots For Newbies?

Forex trading is attracting more and more people especially since the world stock market crash of 2008-09.  There is about $3 trillion turnover every day and more people are becoming interested.  If you are a newcomer in this field, there are lot of things that you will hear from Forex gurus and “so-called experts,” like using Forex robots and other automated trading strategies.

There are things that you need to know about Forex trading, as a beginner.

  • No one participating in Forex trading wins every day.  This is totally a myth.  As a matter of fact, about 95 percent of Forex traders consistently lose money most days. Start erasing all your thoughts that Forex trading is uncomplicated and can be done easily.  Winning in Forex trading is not only about proper trading tools and equipment, it is also about trading knowledge and mindset.
  • Forex trading is not only about winning.  There are also losing periods.  It is important to know and understand this fact, since there are some “experts” who would say that there are trading systems that would enable you to have 100% trade wins and zero loss.  This is impossible!

If you are a newcomer, is using a Forex robot the best option for you? It can be, as long as you know how to use it and have reasonable expectations.

There are different reasons why an expert would like to use a Forex robot.  It could be because of time constraints, wanting to be more flexible, improving their trades, or keeping their emotions in check.  A newcomer or a beginner is a different case.

A Forex robot could actually make things easier for a newcomer.  Forex trading can be complex and difficult, and trading software like an expert advisor would help beginners understand the principles about Forex trading and understanding the different strategies and systems.

Expert traders, over time, have developed their own “winning recipe” or their profitable trading strategy.  A newcomer cannot compete with that.  A Forex robot assists a newcomer in coming up their own winning trading strategy.  Beginners always have a learning curve to overcome where they could lose a lot of money while giving different trading methods and strategies a try.

Forex robots can be readily brought from different websites.  They are very popular since  it can work with Metatrader4, a common Forex broker interface.  You just need to configure it at the beginning and let it run on autopilot.

Its installation and setup process is also relatively easy to accomplish and the developers make available videos and instructions to help you set it up and understand how the system works. Some Forex robot vendors offer training and user forums.

Forex trade success is not just about getting the correct equipment and the right tools.  It is about getting a proper mindset and at the same time learning the inner working of trading, not from an automated point of view, but from the manual one.

Forex robots are not limited to beginners only.  Even large financial institutions use automated trading software and programs like Forex robots.  Remember, though, it is not just the robots that define success.  There are other factors that you need to master, like trading mindset and skill, to be able to succeed in Forex trading.

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