Forex Robots Vs Forex Signal Service

Forex robots (also known as Expert Advisors) and Forex signal services are methods of automating Forex trading that take decision-making away from the trader. Traders often struggle with the emotional aspect of Forex trading, specifically the fear of losing or making money, which can lead to the overwhelming desire to change their mind during a trade. While both methods have the same attribute of automating decision-making, they are not the same.

Forex robots work based on pre-programmed rules that can vary in degree of automation. They can automate the stop loss movement once a trade is manually triggered, or they can completely automate the trading process from entry to stop loss and take profit levels. Technical indicators are used to pinpoint an entry level, and they generally have nothing to do with the fundamentals that drive the market.

Forex signal services can come in the form of email or SMS alerts telling traders what to trade and when, or a completely automated trade copier service. A trade copier service is done via the MT4 platform, where subscribers can copy trades from another trader’s account. Both of these services don’t require any knowledge of the Forex market and can be partly or completely hands-free. Forex signal services usually come from professional traders with a proven track record in the market, but trading robots can also be used as a signal service.

In this article, we will give you the information you need to decide which method is best for you. It’s important to realize that there are thousands of products for sale in the market today, but many of them are scams. We’ll give you some checkpoints to look for when searching for a genuine service that suits your situation.

Regardless of whether you choose a trading robot or a signal service, you should be able to view verified results in real-time. Anyone can create results on Excel that are fixed to show great returns. A reputable company will show results from a third-party verification service that cannot be tampered with by the trader. These results are linked to the trading account and updated in real-time. If the product does not use this type of service, it should be avoided. With signal services, they typically come with support because they are subscription-based. However, when purchasing a one-off robot, they often come with little to no instruction or support. This is the second necessity that you require as a customer, and you should not settle for less, no matter how good the sales copy is.

You should also ensure that you have the contact details of the company. Never send anyone money who is not prepared to give you their contact details. Lastly, make sure you read the small print and understand what it means. All Forex trading related products will have a risk disclaimer and mention that past results are not a guarantee of future performance. This is the law for Forex trading companies and does not mean that the product or service will suddenly stop working once you purchase or subscribe to it. The last thing you should look for is a money-back guarantee. Any company that has complete confidence in their trading system will offer a money-back guarantee.

Written by Adam Woods

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