What is a trading bot?

Trading bots are computer programs that identify patterns and automatically conduct trades by using different indicators (they auto-trade). Trading bots first appeared in the foreign exchange trading environment for private investors and soon found their way into the cryptocurrency trading world.

What are auto trading tools?

When we talk of automated Forex trading systems or auto trading tools, we can distinguish two separate categories of auto trading tools: Expert Advisors (EAs) and Forex robots, or auto trading bots.

What is an automated trading system?

Automated trading systems — also referred to as mechanical trading systems, algorithmic trading, automated trading or system trading — allow traders to establish specific rules for both trade entries and exits that, once programmed, can be automatically executed via a computer.

Should you buy or build your own robot trading software?

Purchasing a piece of robot trading software gives you quick access to automated forex trading, while building your own robot trading software allows you to customize your robot to your specific preferences. Auto trading software can be expensive and risky.