There are several forms of Forex trading software available these days. If you do a Google search for "Forex trading software" or "Forex trading robots," you'll find a lot of different results. The price of a currency reflects the beliefs of all market participants.
Markets are created by humans. People create markets by the beliefs they have about prices. Price action is created when people act on these emotions. The market can change very quickly. It can go from calm to volatile in a short time. This is something to think about when someone suggests that a computer trading program could do better than a person at analyzing and trading the market.
Some people think that it is silly to rely on a computer program to predict the outcome of something that is emotional. However, computer trading programs do have some advantages over human minds. They are better at trading psychology because they are not emotional.
Computers are not emotional and will not get mad at you.
The ironic thing about computer trading programs is that they don't have the ability to make emotional decisions like humans do. But they also can't make decisions based on their "gut feel" like humans can.
Computers are chilly, and a trading "robot" software will simply execute the instructions it has been programmed to. As a result, if the computer loses money on a transaction, it will not immediately repeat the trade out of anger or annoyance. The computer will wait for the next pre-determined trading advantage to appear in the market before re-open a trade.
The question of whether human minds or computer programs are better at forex trading. Finally, it will conclude with my personal take on why I believe that human brains are the most potent Forex trading and analysis tools available.
A computer can’t teach you to trade
Computers cannot teach you how to trade stocks effectively. The most successful traders make buy and sell decisions that are not based on signals from a computer program.
They use their experience to understand how the market works and what prices mean. I can show you how to trade using the same price action methods that have served me well in the past. But you will need to be very disciplined, especially when it comes to not trading too much or using too much leverage. If you can do this, then you have a good chance of making money from Forex trading on a regular.