The best automated forex trading robot for gold is Pivlex.
If you are here to know the best forex trading robot, then you have come to the right place. In this setup, we have reviewed the Pivlex robot to get the details of whether it is best for gold trading or not. So, let’s get into the details. But let us first know about the forex trading robot.
An automated trading robot or EA: Expert advisor is an auto trading program that a trader pins into the trading system to analyze market conditions and make trading decisions. It is basically designed to trigger trading decisions when certain parameters have been met.
The in-built algorithm signal detailed in the code opens and closes a forex trade for a fixed time without human involvement. However, forex robots appeared in the 80s with the progress of PC technology. It became important to get faster and partially automate the forex trading procedure.
How Pivlex Works?
The Pivlex platform monitors the forex market for gold trading opportunities and executes them automatically on its user’s behalf. The in-built AI algorithms in this software decide on entering and closing a position taking custom parameters that the user set into the trading account. It means the user doesn’t have to analyze the technical data and fundamentals of gold to trade.
So, this automated forex trading robot program has a specific strategy that is designed and tested by the developing team. However, the strategy depends on the decision. It means when a condition or a set of conditions are met, Pivlex launches the in-built logic pattern like entering or closing the position.
Pivlex targets the XAUUSD pair and activates if the (Relative strength index) RSI indicator for XAUUSD dips below 40 or goes above 80. When the robot determines that RSI drops below 40 or goes beyond 80, it will instantaneously place a buy order for RSI <40 and a sell order for RSI >80.
It works with the amalgamation of trading platforms that connect a trader to a forex broker, which in turn shows the real-time market data. The data feed has several parameters, including open or close price, time intervals and variation feed.
Moreover, this bot can also spot major market trends, monitor local price fluctuations, and track patterns via indicators like (MACD) moving average convergence divergence and (RSI) relative strength index oscillator to get the highest yields.
Why is Pivlex the Best Automated Forex Trading Robot?
Pivlex is very popular in the world of foreign exchange markets for gold trading. This software program is designed to execute trades on its user’s behalf. So let us get into the details of Pivlex features, performance, and benefits to know why it is the best choice of forex trading bot.
Features of Pivlex
1. Automated Trading
This software program is designed to program the trading procedure. However, a trader can program specific criteria and rules into this EA, and it will robotically execute a trade based on those fixed parameters and strategies.
2. Different Analysis Tools
The best forex trading robot, Pivlex, has several prebuilt charts and technical indicators along with different analysis tools. There are more than 30 indicators, including volume and trend identification tools. Moreover, this robot shows pairs in M1 time frames, letting the traders conduct comprehensive chart analysis and price analysis of the foreign exchange market.
3. Market Trends Identification
Pivlex is a trend-following forex robot, which means that this bot identifies trades in trending markets. This feature is compatible with traders who wish to take advantage of market momentum rather than trying to forecast market setbacks.
4. Risk Management
This software includes a number of risk management features, trailing stop loss orders, taking profit orders, and position size regulations. It helps the traders to lessen the potential damage and protect their money. So, the risk management feature ensures that the forex bot remains profitable even when the market is in an unstable position.
5. Customizable Settings
Pivlex, for automated forex trading robot, offers an assortment of customizable settings. It lets a trader fine-tune the behavior of this EA to their necessities, preferences, trading style, and risk tolerance. The users of Pivlex can customize the grid settings, risk parameters, and trade frequency that suit their trading preferences.
6. Optimization of Parameters
Pivlex software program offers a complete list of parameters that can easily be adjusted and optimized with the built-in strategy tester. So, whether you are a beginner or an experienced trader, you can accurately determine your trading strategy without any difficulty.
7. The Flexibility of Lot Size
Not every trader has the same leverage in the forex market, though Pivlex gives its users the facility to fine-tune the lot size to match their trading preferences. With this software traders can make trades as per their trading style smoothly.
8. Smart Entry Points
Pivlex does not just provide trends and analytics tools; it also offers flawless entry points in the way of trends. These smart entry points build the confidence of traders as they get a solid strategy in their trading.
9. Get Alerts and News
Traders can set this EA to send them notifications or alerts of gold pairs, their impacts, and when specific situations are met. This feature helps the trader to stay informed about the status of their computerized trades.
Benefits of Pivlex
Here are the reasons that make Pivlex the best automated trading robot.
1. Emotionless Trading
Every forex trader has dealt with the greed and anxiety of losing the trade sometimes. The emotions of humans can fog decision-making and can lead a trader to turn from a tried and tested strategy. So, the Pivlex automated forex trading robot sets human emotions at a distance. Because they are bound to stick to system guidelines and take valid trade signals without feeling the pain of losses.
2. Works Speedily and Efficiently
Computer algorithms always be able to think and work faster and more effectively than a human. Pivlex EA can scan the market, find trading opportunities, and perform trades all in a matter of seconds. A trader doing this manually inevitably takes more time and may miss opportunities and waste time making decisions and entering the order.
The Pivlex automated trading robot software program is set to a certain parameter. It will complete the positions of traders based on the automatic strategy. Using the set of yes or no triggers to make trading decisions and act on them instantly without changing their decisions as humans do.
Another reason to use the Pivlex Forex trading robot is its consistency. This software can consistently perform trades according to the pre-defined strategy of its user without being influenced by external factors. It can help to remove human error and make sure that trades are implemented precisely and proficiently.
5. Suitable for Everyone
Pivlex’s automated forex trading robot can benefit experts, novice traders, and even people who have not ever traded in their lives, and even those who don’t want to know how to trade. However professional traders use this software to expand their trading strategies without sacrificing extra time and be able to keep on active in the forex market when they can’t.