By
Andy Watson
May 10th, 2021
Robot trading platforms allow users to make their strategies by selecting a set of technical parameters that help them establish their trading rules.
Robot trading, also called algorithmic trading and automated trading, is an automated trading system that enables traders to rely on computers in executing user-defined actions, like entry and exit, by setting defined rules.
The robots used in automated trading are based on mathematical algorithms that help them decide when to trade and how to seize the best trading opportunities, allowing them to carry out the process without human assistance.
Why Did Robot Trading Become So Popular?
Robot trading has become so famous because of its numerous advantages.
- No emotions
Humans have a hard time sticking to their trading plan when they don’t put their emotions under control. But robots are completely rational. They follow the trade rules and execute the plan without hesitation because they do not suffer the psychological strains involved in trading. This guarantees that discipline is preserved throughout the entire trading process, and ensures that the plan is followed without mistakes.
- Very fast entry orders
Time matters for traders because a few seconds can make a huge difference in the outcome of a trade. Therefore, it’s very useful for traders to use computers that can process information very quickly and generate orders immediately when the trade’s criteria are met.
- No breaks
A person cannot afford to work nonstop, he must take breaks to eat and rest, unlike robots that are able to work for 24 hours, all week long, without this impacting their productivity. This advantage is so important because it makes it possible for the robot to benefit from the opportunities available in different time sessions.
How Can You Use It?
In general, robot trading platforms, like Bitcoin Revolution, allow users to make their strategies by selecting a set of technical parameters that help them establish their trading rules. Once the choices are made, the robot will execute the plan automatically.
On the other hand, some traders choose to build their own trading robot by working with a programmer who would develop the trading system. This requires more effort, money, and time but offers the trader more control over the system.
Where to Find Trading Robots?
There are a lot of trading platforms that offer the option of automated trading, like MetaTrader4, ProRealTime, IG, etc.
Every platform has its own trading systems, fees, terms, and conditions. Therefore, in order to find the platform that suits you best, you should make research, read reviews, and compare all the offers available.
