Pros and Cons of Automatic Trading Systems

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• They save the professional trader’s time. Forex EAs perform Forex market analysis and search for trading signals.
• The speed of managing trades and discipline. In situations where an instant decision is needed, the cause of error is the human factor. Denial, hope, greed, doubt, fatigue take their toll. The Forex trading robot automatically follows the risk management and trading rules embedded in it.
• No emotional stress. The reason many traders, including advanced traders and inexperienced traders, make mistakes is often the mental pressure and fatigue — using a Forex trading advisor eliminates them.
• Automated trading. Forex trading bots are able to collect initial information and, based on mathematical calculations, evaluate the statistical probability of an event, for example, a positive trend beginning. Based on it, they can make a trading decision.
• Auxiliary tools. In addition to automatic Forex robot trading directly working with trades, there are scripts that perform an auxiliary function. For example, searching for emerging patterns, assessing the current spread, drawing Forex trading sessions in the chart, etc. Scripts give the professional trader the necessary information for manually trades.