Actions performed by the automated forex robots. Signal for the trade entry, this includes using the various forex signals that are received from the various banks and financial institutions for the forex trade. Calculates the optimal size of the lot required for buying and selling the currency pair. The forex software also adjusts the price targets for the profit taking, adjust the trailing stops. These automated robots also execute the trade orders too. The software also executes the trades after the order has been placed regardless of whether the software is running on your machine 24/7.
Other robots use machine vision systems to perform complex tasks, such as weld inspection and optimization in the automotive industry. These usually involve elaborate actions and motion sequences, which the robot may even have to identify itself.
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The Robots provide more accurate and faster service than humans at a fraction of the cost. Report consolidation, procure to pay and order to cash are some of the work streams within finance and accounting ideally suited to Robots. Auditing robotic automation is another key area.
You see, there was an interesting article in Business Insider Tech News titled ”Foreign robotics companies find success in China,” written by Jonathan Camhi published on September 22, 2015 which stated:
Industrial Robots are automatic devices, which to an extent simulate the human behavior or more specifically human activity. Robots are important part of the science of Automation. Automation involves machines and computers that are capable of learning and performing various types of operations. The word robot has been derived from the Czech word ”robota” meaning compulsory labor. The robots are used in industries to perform various functions like material handling, spot welding, spray painting, die casting, ironing, forging, assembly operations, palletizing, dispensing, testing, water jet cutting, picking and placing heavy goods etc.