Types of advisers on Forex
To date, hundreds of various trade advisers can be freely downloaded. Also, fewer experts can be purchased at various venues for money.
Naturally, each adviser contains certain trading tactics. Which the author has put into it, and often no one except the author himself knows about it in detail.
In the case of downloading an expert with free access, the only thing we lose is time. But when buying an expert, we lose money.
Naturally, no seller reveals all the maps of his offspring. Since they can easily be copied by competitors and sold at a lower price. So in the description, you can see the usual general descriptions on the slang of traders.
Actually understanding the basic principles of the work of advisers. As well the ability to distinguish their types will help you get around the malicious sellers and save your money.
Also, if you know the types of advisors. You can save a lot of time on testing and be finding an adviser with free access. Because by the basic description you will clearly understand what you are dealing with.
If we consider in general all the advisers, then they can be divided into pips, scalper, medium-term and long-term ones.
Pips: This is trading advisors who work on a tick or minute chart to take profit in a couple of points. As a rule, these robots open positions for a couple of seconds, with which all brokers are fighting hard.
Scalpers are trading advisors that are built on the basis of scalping tactics, the main purpose of which is to earn money on market noise. Scalpers, unlike piping, have big profit goals, namely within 10-15 points.
Real scalpers have a clear model of money management, the essence of which is to immediately cut off loss-making positions and always close them in a stop.
Medium-term: These are advisors who analyze at five-minute or higher time frames, but unlike scalpers, the range of targets and stop orders significantly widens, and the position can be held by the robot for one or two days.
Long-term: These are advisors who typically conduct their analysis on daily and higher charts in order to keep the position from one week and up.