Is it safe to use BOTS in trading Forex and Crypto.

[Niyi Briggs]

In these days and times where artificial intelligence reigns supreme, there have been BOTS touted to have a high level of accuracy in Forex trading. Is it safe to use BOTS to trade Forex?

 

[Magnus2022]

I prefer to use my natural skills and intelligent to trade forex. I don't believe in the bots though they may have high level of excellent execution. Moreover, most of the bots are highly expensive and not for low key traders.

 

[cherry123]

I don't think one can really rely on these bots. I don't know how effective they can be. I will prefer human skills better

 

[eldavis]

I can't really say bots are good or bad for trading, there have been people who claim to use bots and they are doing pretty well. But at the same time, bots are programmed by humans, which means there are bound to be errors. Even with bots people can still make losses.

 

[cherry123]

I can't really say bots are good or bad for trading, there have been people who claim to use bots and they are doing pretty well. But at the same time, bots are programmed by humans, which means there are bound to be errors. Even with bots people can still make losses.

It is these errors that makes it look like they are not really reliable. So one just have to be careful with them.

 

[Bisolami]

In these days and times where artificial intelligence reigns supreme, there have been BOTS touted to have a high level of accuracy in Forex trading. Is it safe to use BOTS to trade Forex?

I heard that there are some bot that will make you lose your money so you need to be careful of the bot you use

 

[cherry123]

I heard that there are some bot that will make you lose your money so you need to be careful of the bot you use

The thing is for people not to rely on a programming thing because it might be failed at any time.

 

[eldavis]

It is these errors that makes it look like they are not really reliable. So one just have to be careful with them.

True, but most people today are not aware of this, they put all their hopes on robots to trade for them, they feel since it's robots they would be no mistakes hence they end up loosing everything when there is an error in the bot.

 

[Enxx]

It is safe to use bot. Bots are not just an automated software but they are programmed to trade using our startegy. So it is safe to use them.

 

[cherry123]

Well if the bots are trusted then why not. it will be useful to use them for trading

 

[Shavkat]

I am not confident that bots can be accurate in dealing with this financial matter. Although I had seen before but I do not want to take the risk.

 

[Raja]

I have never tried so I don't have any experience in forex

 

[Bisolami]

True, but most people today are not aware of this, they put all their hopes on robots to trade for them, they feel since it's robots they would be no mistakes hence they end up loosing everything when there is an error in the bot.

I don't think it is safe to use robots to trade but some people use it but I cannot use it because I don't trust them

 

[Reedex]

So many Traders have resort to using the bot to trade and I think they are making profit from it.

 

[SHAHID987]

It's not safe to use bots in trading business because machine remain machine, and may make blunders. As I read a news about famous businessman who used bots in his trading and get huge loss.

 

[gammarays]

Bots are commonly used to trade crypto and forex. They can be set up using some parameters and allowed to run. It makes trading very easy. However it's bad to rely fully on a bot to make profit for you.

Post automatically merged: Mar 6, 2023

Bots are commonly used to trade crypto and forex. They can be set up using some parameters and allowed to run. It makes trading very easy. However it's bad to rely fully on a bot to make profit for you.

 

[Reedex]

It is possible to use bot to trade because it is reliable and more efficient.

 

[flower]

It is very safe to trade cryptocurrency with the bot because sometimes these bits are very efficient.

 

[nomad]

I have not used trading bots but from what I hear it is perfectly safe to use trading bots all you need to do is never trust the bots 100 percent, you also need to use your own brains.

 

[uptrendfinancialsignal]

I have not used trading bots but from what I hear it is perfectly safe to use trading bots all you need to do is never trust the bots 100 percent, you also need to use your own brains.

The bot can never be trusted hundred percent because it uses the market indicators to make judgement of the market sentiment.