By Ninette Paquette. Robotic Automation. Published at Friday, November 16th, 2018 - 23:36:25 PM.
Think of someone making profitable trades for you 24/7 without any extra charge, without your presence, while you are sleeping and at a very less capital. Surprising? Well, technology has created robots to do just about the same for you with great accuracy than a broker or any individual and at a very less capital to start trading.
The Forex Carnage robot is one of these trading robots. James Terry, who developed the Carnage robot, discovered that most of the people trading the currency market don't understand or even use the basic market drivers of the currency market. One of the most important drivers of the FX market is volatility because it creates the real opportunities (read, your chance to make the best profit). It is also one of the drivers which is ignored by the so-called guru's because it takes more ability to increase your FX profits. James Terry translated the 'volatility concept' into the MT4 programming language and integrated it into the Forex Carnage robot.
Forex claims a few robots can trade profitably with 100% accuracy, like Ivybot. Some others with 94% accuracy like Forex Megadroid and 96% like FAP Turbo, though, the accuracy rates are debatable to an extent because the robots rely on past market pattern to analyse the market. With unexpected market changes, which may be comparatively new to the robot, accuracy in predicting possible positive trades may vary. They are tested and have proved to give profitable results at both demo and live accounts.
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.
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