Foreign Exchange Markets (FOREX) are known for being extremely volatile, and prices fluctuate drastically even in the space of minutes. Investors can participate in both markets around the world and at any time of the day. The combined effect of these factors limits the effectiveness of human trading in a lot of ways.
Investors, in many cases, are unable to react quickly enough to changes in the price to achieve the optimal trades. Investors cannot dedicate as much time to the markets to always achieve the best trades. That would require round-the-clock monitoring of exchanges all over the globe. This is where Trading BOTs get into the picture.
They are nothing but automated tools that conduct trades and execute transactions on behalf of human investors.
Trading BOTs are a set of programs designed to automate currency trading on your behalf. Typically, the investor/trader will have to pay attention to market statistics that play a crucial role in practicing trading and then pick which currency to buy/sell and at what time. Trading BOTs can easily automate the analysis and interpretation of market statistics. They can gather market data, interpret it, calculate the potential market risk, and execute buying/selling assets.
It’s like hiring an expert to do trading for you while you can sit back and watch the results.
We hope that clarifies what a BOT really is, basically a computer program.