Over the years, forex trading robots have flooded the market with mixed results. Of course, there are always those who work, but unfortunately, the majority will eventually fail. In this article, we will explore the possibilities offered by trading robots, also called experts, and determine whether it is possible to have a forex trading system that actually works.
The possibilities of trading systems limit their limits
The coding of expert consultants is progressing and there is even software that can read news alerts and integrate that information into a company. This new wave of programming is at the forefront of the application of fundamental analysis to trading algorithms. There are problems that a basic trader might insist on, but this is a conversation for another article. The limits of a trading system can be found with the programmer. Hundreds of market indicators provide market insights and correct a certain percentage of the time. The problem is to make sure you have enough time to make a profit at the end of the week, month, or year.
It is normal for a forex robot to work over a period of time and then review defective patches that could erode all your profits and even blow up your account. Although these consultants are well sold, there is no way to know exactly how the market can be expected, and a rules-based trading system may not be as good as next year.
A commercial system that can adapt
A truly functional forex trading system will therefore be adaptable to the trading environment at any time using multiple rules. If you use a system that supports multiple rules, you can adapt to multiple scenarios. For example, a forex robot using a scalping system in a trend market could lose consolidation constantly. A system capable of detecting the evolution of the market and converting it into a consolidation technique would produce extraordinary results.
There are hundreds of systems on the market and the best advice we can give is to look at past results and pay close attention to the level of use. A forex trading system that really works will be less than 20% cheaper than that. So there is a big risk that you could blow up your account.