By definition a robot is any machine programmed to perform actions that would normally be performed by human beings. Forex trade is the exchange of one currency for another in the attempt to profit from the relative values of the pair. Therefore a forex trade robot is a machine programmed to automatically exchange currencies at optimal rates.
Some tasks are suitable for robots to do and others are not. For example robots are very useful in making cars. They are proved to be more accurate, speedy and economical and when it comes to lifting sheets of metal and welding them in place. They are also able to play chess and defeat acknowledged chess masters.
With the advance of GPS navigating systems it is predicted that robots will soon be able to drive cars safely. Already they are used as auto pilots on aeroplanes. They also perform many household chores and are invaluable at opening and shutting gates.
It is in the sphere of human interaction that robots can do even more damage than an incompetent human being. The picture of a pretty girl with a microphone who produces only robotic responses to frequently asked questions makes clients with problems feel severely cheated.
However, she is really a software program with a limited number of automated responses in her repertoire. Any questions that do not fit the profile of frequently asked questions are answered with an idiotic, programmed response. This so infuriates clients that they vow never to buy the product or use the service again. They feel cheated.
Artificial intelligence may have mastered the art of chess but it has not yet cracked the code of human communication. Robots may smile, but the light of emotion does not come on. They do not read between the lines or turn their shoulder involuntarily, so communicating the sort of dislike that even the simplest human girl can do instinctively.
Whether or not to buy a robot for trading forex has to be considered in the light of their usefulness in some areas and their inadequacy in others. It is generally acknowledged that psychology and intuition do play their part in trading success, but also in failure. On the one hand automated traders will not be adversely affected by emotions such as fear and greed. On the other hand, they can hardly be expected to listen to the news and read between the lines of what commentators say or do not say.
When weighing up the merits of a forex trade robot it is probably best to think of it as an indispensable tool. In some circumstances it will accomplish tasks better than a human being can do and be the key to success in risky situations. In other circumstances it might need the guiding influence of a humble human mind.
Some tasks are suitable for robots to do and others are not. For example robots are very useful in making cars. They are proved to be more accurate, speedy and economical and when it comes to lifting sheets of metal and welding them in place. They are also able to play chess and defeat acknowledged chess masters.
With the advance of GPS navigating systems it is predicted that robots will soon be able to drive cars safely. Already they are used as auto pilots on aeroplanes. They also perform many household chores and are invaluable at opening and shutting gates.
It is in the sphere of human interaction that robots can do even more damage than an incompetent human being. The picture of a pretty girl with a microphone who produces only robotic responses to frequently asked questions makes clients with problems feel severely cheated.
However, she is really a software program with a limited number of automated responses in her repertoire. Any questions that do not fit the profile of frequently asked questions are answered with an idiotic, programmed response. This so infuriates clients that they vow never to buy the product or use the service again. They feel cheated.
Artificial intelligence may have mastered the art of chess but it has not yet cracked the code of human communication. Robots may smile, but the light of emotion does not come on. They do not read between the lines or turn their shoulder involuntarily, so communicating the sort of dislike that even the simplest human girl can do instinctively.
Whether or not to buy a robot for trading forex has to be considered in the light of their usefulness in some areas and their inadequacy in others. It is generally acknowledged that psychology and intuition do play their part in trading success, but also in failure. On the one hand automated traders will not be adversely affected by emotions such as fear and greed. On the other hand, they can hardly be expected to listen to the news and read between the lines of what commentators say or do not say.
When weighing up the merits of a forex trade robot it is probably best to think of it as an indispensable tool. In some circumstances it will accomplish tasks better than a human being can do and be the key to success in risky situations. In other circumstances it might need the guiding influence of a humble human mind.
About the Author:
See live test results of popular forex trade robot software on Rudolf Boquiren's Forex Robot Examiner site.
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