Have been hearing robot trading all this while but didn't get to know what's all about and how it does work.
It is usually an application that is attached to your trade or trading platform to help you trigger a trade whether you are there or not. Most times, people who don't have all the time or are lazy to always monitor their trade signals, employ the use of robots.
Can someone enlighten me or us how it's been use, its merit and demerit
Few of the merits are :
1. It helps you to use your time on other things because it does the work which you are suppose to do by being with your computer all the time.
2. It helps you to take straightforward decision since it has been programmed to do so on your behalf. This can actually profit you sometimes because it does not procrastinate. Thus, you can win some trade that you would have procrastinated on as a human being with flesh and blood...lol
3. Sometimes you would have existed a losing trade because of fear, habited by that same flesh and blood but because it is a robot, it never gives a damn. It stays there like a moron..
, and if you are lucky, your losing trade might revert to gain. 4. It saves you some heartache, regrets and pains. Obviously, you might not be there when you lose a trade that would have inebriated you to do some crying...
And;
Few of the demerits are :
1. If you have a change of mind and forgets to untrigger your command on it, it goes with the previous order it was given. Meaning, it does not read your mind.
2. It is an asshole sometimes. I mean, something might go wrong with the order and it keeps trading which could be to your disadvantage going by the way it was trading.
3. Apart from that it actually helps you time for other things, it does not create expertise. It does not help you to be a better trader because you would always rely on it.
4. It is not human and it will remain a robot. An application installed to help human. It can be frust with errors. Sometimes, they are not even real.