Technology has become an integral part of our lives for certain decades. People use technology for everything whether small or big. It has changed the way of conducting business in every field including the forex market. Artificial intelligence is used by market participants while trading. The accuracy of the forex robot while trading has raised the demand for the use of trading robot among the participants of the forex market. A forex robot is a computer-based program that uses the pre-defined criteria to recognize the opportunity of trade. Once the opportunity is identified it then executes the trade. It uses the rules and strategies to determine the exact time of entering and exiting the trade.

Types of forex trading

• Manual trading: Manual trading does not involve the use of a forex robot. People trade in forex market manually. They use their analysis and strategy while trading. Manual trading gives you an edge while trading as there is a wide range of strategies that can be used by you for trading.
• Fully automated trading: Fully automated trading involves the use of a forex robot for trading in the forex market. It is designed with certain parameters, and it reacts according to those parameters. There is various fully automated best forex ea that can place trades on behalf of the trader.
• Semi-automated trading: Semi-automated trading involves the use of both forex robot and manual trading. The forex robot issues trading signals to the trader. The trader than checks the conditions and then places the trade. Forex robot does not place a trade in semi-automated trading. It only provides the trader with trading signals.

Types of forex robots

• Forex indicators: These are also known as semi-automated trading robots. These robots provide trading signals to the trader instead of placing the trade. It gives the trader details of when the trading conditions are met. The trader has the option to decide whether you want to place the trade or not.
• Fully automated trading robots: Forex robot has gained much popularity in recent times. People not only use them for getting trading signals but also for placing trades. There are various types of best mt4 indicator that helps the trader in analyzing the market conditions. These robots identify the trading opportunities and then use their trading strategies and criteria to determine whether it is a profitable trade or not if all the conditions are in favor of the trade, they place the trade.