ParagonEX Dynamic introduces robot system as a retention tool for automated trading
Robot Trading is a retention tool for smart automated trades featured in ParagonEX Dynamic’s Forex trading platforms.
The fintech company ParagonEX Dynamic has always been trying to up its game in the trading field, and so far it has always succeeded in doing so. By keeping up with the trading trends and the new technologies, the software provider manages to offer its business partners innovative solutions for smarter trades and opportunities to grow their profitability.
Artificial intelligence, machine learning, and blockchain are now not only terms but also staples in technology for creating new financial products, as well as for increasing their capabilities. They work in favor of improving predictability, automating processes, and saving time overall.
What Is A Forex Trading Robot?
Simply put, the Forex trading robot is a pre-programmed software that generates automated trading signals. In the trading field, the automation of the processes, based on AI is becoming a common thread, which allows traders to make smart trades, even when they do not have the time to do it manually. The algorithms, using statistics as a foundation, do it for them.
ParagonEX Dynamic has, for now, integrated such an automation feature into its ForexPro trading platform. The retention tool is called Robot Trading. It aims to provide maximum convenience for those using the feature. Robot Trading is mainly used, and recommended, for advanced and professional traders, looking for ways to improve their trading strategy by implementing such a tool into it.
How Robot Trading Works
This integrated retention tool uses automation trading algorithms based on RSI and Stochastic indicators. The robots collect data from a given past period of time for a certain currency exchange pair and based on calculations on those statistics they make a prediction when to open and close the positions automatically.
The traders can activate the Forex trading robots from the trade room by choosing which robot they want to use. After that, the users need to select the direction the robot will open the positions.
Once the robot is active and is now opening and closing positions, the traders can see it on the top of the chart from where they can deactivate it.
As soon as the robot opens a trade, the users can see the trade in the ‘Open positions’ tab with the relevant labels. (Example: Buy, Bot ; Sell, Bot)
When the robot closes any trades, the users can see the trade in the ‘Closed positions’ tab, in the column ‘Comment’ with the relevant labels. (Example: Stop Loss, Bot ; Take Profit, Bot).
Robot Trading is now available for ParagonEX Dynamic’s ForexPro trading platform. This is yet another addition to the palette of tools and features in the company’s services department, which will make your trades smart, fast, and simple. The company plans to integrate the retention tool into all its Forex related software. The tech team is also working on developing other robots for automated trading in order to provide variety from which the user can choose.
Other worth mentioning tools that its platforms have to offer is the advanced All-in-One CRM, as well as advanced operational and analytical tools.