There are many ways to use a trading robot and here are some of them:
- to close trades only - such robots usually perform custom trailing stop (custom because most of the platforms offer integrated trailing stop and you need a robot for that only when it differs from the original) but also can be used for other complex rules when stop-loss and take profit are not enough.
- to test a strategy - sometimes you have an idea for trading, you have clear rules when to open and close, and you want to see how this works.
You can see several cases, but only a trading robot can test all cases and give you a result of what will happen if those rules were applied in the past.
The most simple way is to use a trading platform that has integrated robots support.
Opening a position may look simple for a human, but there are many things to take care of if you are using a trading robot.
Episode supported by Forex Poland
Popular Podcasts
Las Culturistas with Matt Rogers and Bowen Yang
Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.