A forex robot is a piece of software that analyzes the market based on settings entered by the user. A forex robot makes automated trades that can be carried out even as you sleep. Forex robots are a good way to trade a mechanical system that requires no human evaluation.
How do you use a forex robot?
Forex Robots is a pretty general term. It can refer to different types of Automatic Forex Trading Software.The most common type is a Meta Trader Expert Advisor can take control of your trading account and make trades according to whatever parameters you set.
Are there any profitable Forex robots out there?
This is the question most commonly asked by traders looking for the holy grail answer to forex trading.
There is no holy grail that will get you around understanding the markets and studying how they work. To answer the question, yes there are profitable forex robots out there. The problem is that it takes testing over a reasonable period of time to figure out how profitable they are. Most of the companies and individuals that sell these robots, are great about writing sensational claims.