In the world of Forex trading, reaping profits solely depend on a trader’s speed and accuracy as well as his ability to interpret the price action. While veterans prefer to invest in a predefined line of action, newbies, however, face a tough time in carving out the right approach to instigate their investments. This is where the need for automated currency trading comes into the picture, and Falcor Forex robot is a significant step in that direction.
What is Falcor robot?
In a nutshell, the Falcor operates on price actions of currency pairs. It brings together the efficacies of Bollinger bands and couples them with the floor and ceiling values of trades. This helps investors realize possible trend fluctuations as well as reversals and monitor their investments accordingly.
An overall picture, however, depicts this robot working exclusively with the MetaTrader 4 platform. Once, MT4 is installed, the minimal requirement is to attach Falcor to its charts. Falcor takes a maximum of 5mins to load after which it resumes analysis of live market conditions.
Features of the Falcor Forex robot
Instead of most charting robots which function on historical data and predictive price action, Falcor works with the present scenario. It brings forth a number of features which strive to render investment accuracy.
- Lags do not exist:
Gone are the days when indicators would lag and provide traders with data resulting in unprecedented slippage or latency. Today, it evaluates present price action and brings forward the most profitable positions currency looming this currency market.
For instance, the EUR/USD currency pair is currently running at 1.3002. According to historical data, it shall reach a ceiling value of 1.3006 within an hour. However, on deploying Falcor, it is found that the ceiling value may reach 1.3010. Therefore, as a trader, you set your stop loss at 1.3001 and your exit trade at 1.3008 (say); thereby making a profit of 7 pips.
- Absentee Trading:
Absentee trade, in general, refers to automated trading. Unlike other robots of MT4 or MT5, Falcor Forex robot only requires an investor to attach it to an on-going trading account. Once done, it remains open for the rest of the day finding profitable positions and creating leveraging opportunities.
Moreover, the Falcor Forex robot remains active for 24 hours every day. So, investors can simply monitor their trades even from their smartphones and place opening positions accordingly.
- Considering multiple pairs:
Another crucial feature of Falcor is its capability to trade with multiple currency pairs in a single time frame. One needs to understand that the FX market is volatile and exploiting this volatility is one’s key to building a successful Forex career.
This provides you as an investor the opportunity to invest in multiple markets and is a major tool for day traders, especially.
Frequently Asked Questions
Does spread size matter in Falcor?
Ans – No
Can Falcor Forex robot be punched with its counterparts?
Ans – Yes. The more your combing, the better results you can expect to receive.
Does it operate 24 hours a day?
Ans – Yes
The above information and questions justify the efficacies one can receive with Falcor. So if you are a new trader or a veteran, download this robot today and punch it on your MT platform.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.