Robotic trading is everywhere in the forex market these days. From millionaire traders who’ve got their systems programmed into robots for their own use alone, to the newb who expects to get rich from an inexpensive expert advisor without even understanding how to set it up, everybody is getting automated. But if you look at stock market trading, for example, there’s not nearly so much use of robots for trading as in the currency market. Why is this? We can only think it’s because stock trading strategies are not so simple to program into software. In other words, there has to be something about fx trading that makes it better to create and automate successful systems. This is good news for the beginner because it means that currency trading should be simple to manage. Just buy an automatic trading robot, plug it in and check back next year to pick up the profits, right? Sadly, earning is rarely that simple, even with the best robot. Installing it can take time; selecting the settings is a role that needs some knowledge of the foreign exchange market and the way to manage your risk; and even the best robot will sometimes make losses as well as profits.

However, it certainly does mean that the typical person wanting to get into speculative trading has options in foreign exchange than in stocks or commodity trading.

Yes, we did say a demo account. It’s critical not to hop this step. They might have made a tiny blunder in setting up the software which could result in twice as much risk as they intended, for example. Or the robot won’t be the one for them.