SETEARNtech

A trading robot is a software program designed for trading. It provides an automated decision-making process for opening and closing transactions.⠀
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What is at the heart of this program?⠀
Technical analysis is the basic factor.⠀
Besides, information on the existing technical settings previously selected by a trader is also used.⠀
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What are the types of trading robots?⠀
Fully automated trading robots⠀
Such programs should be either installed and added to the --- -MetaTrader trading platform or they may be included in the broker’s own trading platform.⠀
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Expert Advisor⠀
Usually, such programs can be seen in the MetaTrader platform in the field of "Experts". Expert Adviser provides a trader with trading signals to buy or sell assets during real-time trading. ⠀
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Pros and cons of trading robots⠀
Pros: ⠀
User-friendly. They are easy to install and do not require complex technical adjustments.⠀
Automated process. They do not need to be monitored, you can set it once and continue doing other things.⠀
Psychological comfort. They are not influenced by human emotions and eliminate emotional decision-making.⠀
Flexible settings. Almost all trading robots can be manually customized by a trader, depending on the trading style.⠀
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Cons:⠀
Lack of comprehensive analysis. To make the right trading decision experienced traders analyze market sentiment by means of different types of technical indicators and fundamental analysis. ⠀
Lack of adaptability. The market is not steady and trading robots using information based on past transactions and settings are unable to catch non-standard market conditions and respond to them correctly.⠀
Temporary profit indicators. Trading robots do not show long-term profitability without prompt changes in settings.⠀
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To sum up: although experienced traders often use complex algorithmic programs in their work, this is only one of the market analysis tools, but by no means a regular basis.

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