What are Robots?

What Are Trading Robots?

Robots are trading robots developed by FXTRADING.com which can trade the market automatically. These robots help to monitor and take action in the market and take the pressure off your manual trading and time required at the charts. Robots in MT4 are also known as Expert Advisors or EA's for short.

People use trading robots when they see a strategy that consistently sets up and to automatically trade that setup. Rather than sitting at the screen or listening for alerts, traders using robots will simply set up the trading robot and ensure the parameters are matching what they tested for, so that the robot will trade on their behalf, without the need for them to enter and exit the market manually.

Why Use Trading Robots?

Trading robots can save a great deal of time, remove emotional interactions with the market and remove bias that is sometimes detrimental to traders. Behavioral conditioning is not an issue when it comes to a trading robot, since the robot follows the orders and requirements that are preset, over and over, without a change of mindset or loss of focus.

How To Use Trading Robots?

Trading robots can be easily applied to a chart (drag and drop the file from the Navigator onto the desired chart you want it to trade on). Input the parameters to match your expected trade strategy and ensure the AutoTrade button has a Green play button (not a red Stop button).

If the trading robot is ready and running, you will see a smiley face in the top right corner of the chart. Setting up should be relatively straight forward and easy to do. If you get stuck, you can always jump on our live chat and outline where you are getting stuck so we can assist further.

If the trading robot is ready and running, you will see a smiley face in the top right corner of the chart. Setting up should be relatively straight forward and easy to do. If you get stuck, you can always jump on our live chat and outline where you are getting stuck so we can assist further.

What Other Preparation Do I Need To Do?

In order to set up a robot, you first need to have a strategy to work with. Using the Screener in the FXT Navigator is one of the most effective ways of finding what might work. Once you find a strategy that you want to try, you can then test the robot, view the historic trading data based on entries, exits and other parameters. If you are happy with the back test using the Strategy Tester (keyboard shortcut "CTRL R" in MT4 or find in View dropdown header), you can then run the robot on your chart with the same settings as the strategy tester.