Trading with Robots, also known as Algorithmic Trading, is becoming increasingly popular among traders of all levels. In this post, we’ll explore 7 reasons why you should trade with Robots and how it can improve your trading experience.
1. Suitable for Beginners
Algorithmic Trading provides a systematic and automated approach to trading, eliminating human emotions and biases. This makes it an ideal trading strategy for beginners who may not have the experience or knowledge to trade successfully. Programs like EA Studio and FSB Pro allow users to create thousands of Robots without the need for programming or coding skills.
2. Trading with Robots – Reason 2: Saves Time
Trading with Robots improves trading efficiency by analyzing large amounts of data and making trades at high speeds. This ensures opportunities aren’t missed even if you’re away from your desk. Once you’ve loaded your Robots onto your charts, you don’t need to do anything else. The Robot will do everything automatically, making it possible to trade from Monday to Friday, all day long without taking a break.
3. Easy Access
Many regulated brokers, like Blackbull Markets, offer the MetaTrader platform, which is the most commonly used platform for trading. MetaTrader is an easy-to-use platform with thousands of tools and add-ons, allowing users to customize their trading station to suit their trading style. Finding a regulated broker offering MetaTrader is easy and free of charge, making it accessible to all traders.
Trading with Robots – Reason 4: Developing Robots
As online trading continues its evolution, new platforms are being released. This includes Trading View and Ctrader, both of which offer algo trading. New and exciting indicators are continuously being developed and can be implemented to open and close trades automatically when conditions are met. Algo trading is the future of trading, and the advantages are simply too great to ignore.
5. Multiple Strategies
Using a program like EA Studio, you can create a portfolio of Robots that holds multiple strategies or multiple Robots within it. This increases efficiency and productivity exponentially, which in turn allows you to trade more than one strategy easily. When trading multiple Robots, if one Robot closes on a loss, the others will compensate for it,which in turn results in better risk diversification.
Trading with Robots – Reason 6: Backtesting
Using historical data from your broker, you can backtest a strategy within MetaTrader 4 and 5. This allows you to see how a strategy would have performed over a specific time period, giving you an idea of the strategy’s robustness across many market conditions, including important news announcements. Additionally, optimization tools can help find the best combination of parameters within minutes, saving time and effort.
7. No Programming Needed
Finally, and best of all, you don’t need any coding or programming skills or even understanding. Different indicators have different parameters, making it difficult to find the best values. With the backtest and optimization tools, you can find the best combination of parameters within minutes. These days, you can easily buy Robots from the marketplace, with prices ranging from $10 to thousands of dollars. While selecting a good Robot can be challenging, it’s not impossible, and you must do your due diligence before purchasing one.
7 Reasons Why You Should be Trading with Robots – Conclusion
Trading with Robots offers numerous advantages, including efficiency, productivity, and risk diversification. It’s also accessible to all traders, regardless of their experience level. Using tools like EA Studio, MetaTrader, and optimization tools can help traders create and test profitable strategies without any programming knowledge. Trading with Robots is the future of trading, and if you’re not already doing it, it’s time to start.