Forex Trading Robot


DEFINITION of 'Forex Trading Robot'

A computer program based on a set of forex trading signals that helps determine whether to buy or sell a currency pair at any one time. Forex robots are designed to remove the psychological element of trading, which can be detrimental.

BREAKING DOWN 'Forex Trading Robot'

Automated forex day trading robots are available for traders to purchase over the internet. It is important to note that there is no such thing as the "holy grail" of trading systems, whether automated or not. If the automated system being sold was a perfect money maker, the seller would not want to share it. This is why big financial firms keep their "black box" trading programs under lock and key.

  1. Cable

    Slang used among forex traders referring to the exchange rate ...
  2. Quote Currency

    The second currency quoted in a currency pair in forex. In a ...
  3. Currency Pair

    The quotation and pricing structure of the currencies traded ...
  4. USD

    In currencies, this is the abbreviation for the U.S. dollar. ...
  5. Base Currency

    The first currency quoted in a currency pair on forex. It is ...
  6. Forex - FX

    The market in which currencies are traded. The forex market is ...
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    If you've ever suffered the frustrating experience of having an order not filled or had a strike price fail to execute because ... Read Full Answer >>
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    A forex trading strategy can easily be implemented to profit from a market reversal signal that comes from the sanku, or ... Read Full Answer >>
  3. What's a good forex strategy to use when spotting a Wedge-shaped Pattern?

    Use wedge-shaped patterns to identify bullish or bearish price action when trading currencies in the foreign exchange (forex) ... Read Full Answer >>
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