Day Trading Robots or Robotic Day Trading Software is software that analyzes Forex, Stocks, Futures, Options or Commodities market data, such as price and volume in real time, and based on such analysis, “robotic” calls profitable entry & exit price points.
Such trading software can be used with any liquid financial instrument such as Stocks, Bonds, Stock Options, Forex, and Futures contracts including equity index futures, interest rate futures, and commodity futures. Swing trading in these markets can also be performed quite successfully with a good trading robot.
Successful day traders prefer using day trading robot software because the major reasons for failure in this business are emotions like excessive fear and greed, or failure to accept a loss. Since Day Trading Robots have no emotions, they can call trades 100% mechanically; based on market conditions, therefore more discipline can be maintained.
Day Trading Robots can also analyze huge amounts of data in milliseconds, which otherwise would take much longer to analyze manually, in real time, and when the conditions indicate, still give timely, accurate and profitable entry and exit price points. This helps a trader concentrate on just executing winning trades without having to analyze the markets and find them.
Finally, traders will often get confused with the subjectivity involved using typical subjective methods of day trading. Fibonacci, Trend Lines, MACD and other Oscillators, Moving Averages are commonly used and are all subjective. When do you apply one indicator and not the other? What do you do if one indicator says to buy where the other indicator says to sell? This results in what is called “paralysis of analysis.” When you trade subjectively, you basically do not know what to do, so you are essentially in a state of trading paralysis and you do nothing, except watch your money fly away.
The use of good trading robot software will eliminate all subjectivity which can greatly reduce your trading stress.