Forex bots are programmed and designed to give the traders signals before they are happening in the market. These are some kind of predicting software which analyzes the market based on the existing signals and forecasts the traders what is expected to happen in the future. Though there is a debate about the efficiency of the Forex bots in this trading industry, many traders are very happy to get a virtual assistant and know what may happen to the market before they are placing trades. Trading signals, on the other hand, are the real deal in Forex. They do not show what has happened in the past, they do not show what can happen in the future, but they only show the live signals of the market, what is happening in the market right now as we speak. The traders are always divided about the efficiency of Forex bots and the trading signals. In other word, bots are automatic trading software and the signal service providers are the professional traders who sell signals. Now we are going to find out which system is the best to follow.
If you are a hater of Forex bots, you cannot deny that these bots have opened a new era of trading in Forex industry. Not only they are equipped with modern technology, their programs are being developed day by day to evolve themselves like a true artificial intelligence in Forex. Though they can provide you future data about the market, their usage is limited by the volatility of the Forex market and the unpredictability. There are some expert traders at Saxo using this amazing bots to enhance their trading performance. It’s not possible for the human being to monitor the price movement all the time. So some traders prefer to use the bots so that they can get alerts from their trading software regarding a certain market movement.
Signals are the real things in Forex. There is no prediction, only pure information about the live market. Many traders say it will need time to read and interpret the market but they can interpret the market quickly with Forex bots and compare their reading with the prediction, there is always a chance of error in Forex bots calculation. They cannot go beyond specific program and market volatility. They cannot take into account of what is happening in Forex. When traders are using signals, they are using the perfect tool to trade in their online trading account. It helps them to know the market trend based on all the factors which can influence to change the market price level of the currency pair. If you are new then you can also do some research and find some quality signal service provider. All of them will give you entry and exit point of a trade with the stop loss level. But some traders prefer to trade the market manually since it allows them to understand the market behavior.
The ultimate winner is undoubtedly the signal service provider. They are not programmed like bots and only show the live trends of the market. They take all of the market news into showing the signal and reflecting it in the chart. If you want to trade Forex, use signals for better profit. It's not that you need to trade the market by taking service from the signal service provider. If you can develop your trading skills then you can be your own signal service, provider. There is no need to pay the extra money or buy expensive bots.
Summary: Manual trading is the best option for all the professional traders. Though some expert uses forex bots all of them consider it as their helping tools. They never make any trading decision based on software readings. So instead of spending a huge amount of money on forex bots learn to trade all by yourself.