Who said “The robots are coming”? Perhaps Paul Revere muttered some words like that, and now they have arrived. Brigades of Automated Forex Trading Troops have descended upon the trading world.

There are many variations of work:

There is the standard slave: trudge to the wells every day or night; making a pittance And there is a life of leisure, letting a robot work for you while you do other things. Hopefully when a new craze hits the streets, every man and his robot will be trading the Forex market. However, not all robots are the same. Just like buying a horse, make sure you get a good one

Trading robots now make it possible for the average person to be a full-time trader. You can earn a permanent income playing golf, unless you’re like Tiger Woods and have given it up for a while. Simply fire up your Forex trading robot and head to the first tee.

You can quit your day job for a round of golf while your fully automated Forex trading robot slaves on the face of coal to make money for you. And with remote hosting you never have to visit the office or touch your computer. Just go to the bank and collect the money that the trading robots can deposit into your account.

That is due to the fact that the robot is not human and is not creative in itself. Therefore, on its own it will not find the solutions that a human mind can sometimes find to solve problems. A robot is essentially just a data processor. One that can do a job much faster than the human brain, but can only process garbage according to the system it’s programmed for. On the occasions of catastrophic events – world-shattering news and market panic, a trading robot probably shouldn’t be left alone in the room. However, for 99 percent of the time, a trading robot should be able to perform better than a human.

This is for two reasons.

1) Robots lack emotions. When a human being is manually operating, it is impossible to avoid emotion, and that can be deadly at times.

2) Robots can process much more data than a human and respond much faster: place orders faster to get in and out of markets in an instant. When it comes to trading speed, robots are like lightning, unless the data coming in is garbled. (The rare times they can’t act)

Bottom line: Don’t try to compete against trading bots. Professional traders use trading robots. That’s not to say there isn’t a lot of manual trading going on yet. But the Big Boys now play with robotic toys, letting the robots do the math and carry out commands.

Regardless of whether you use a trading robot or stick to manual trading, the essential ingredient for success in Forex trading is money management. Never trade with more money than you can afford to lose. Risk as little money as possible on each trade, to conserve your capital Take your losses quickly: limit the amount you give to the market so that your capital is not significantly depleted on any one trade. If you’re on a losing streak, take a break from the markets. Go play a round of golf and clear your mind for a while so you can come back refreshed another day. The same applies if your trading robot does not perform well on a particular occasion.

You never know with the development of cybernetics: maybe robots will be able to play their sandbox soon.