About:
A forex robot is forex trading software that automates trading decisions. The most popular robots for retail traders are built around the MetaTrader platform. These robots run on MetaTrader as "expert advisers" and they can do just about anything, from giving you a signal to place a trade, to placing and managing the trade for you automatically.
Pros and Cons
If you have a forex strategy that's strictly mechanical and that doesn't require a human in the decision-making process, you can program your forex robot to trade for you 24 hours a day.
Many companies create and sell forex robots, but be careful who you deal with if you're in the market to buy one. It's not uncommon for a company to spring up overnight and start selling an "instant riches" forex robot, including a money back guarantee, only to disappear in about 45 days or so.
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