Forex Raptor Vs. Forex Autopilot
Forex Raptor and Forex Autopilot are types of automated trading software, called robots, that execute foreign exchange (Forex) trades on behalf of their owners. Using a strict mathematical algorithm and user-generated trading parameters, both robots attempt to predict movements in the foreign exchange market. Raptor and Autopilot are only two of several software options designed to help investors of all skill levels pursue their Forex trading goals.
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How Robotic Traders Work
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Using artificial intelligence (AI), computer programmers and market analysts have developed several algorithms that capitalize on Forex market trends and position investors to profit. By attempting to minimize -- if not remove entirely -- human element from trading, AI-based trading algorithms seek to identify and execute profitable trades as quickly as possible while minimizing risks. Non-automated algorithms migrated to currency markets in 2006, according to the FOREX.com website; however, automated, AI-based trading algorithms such as Autopilot and Raptor are less mainstream.
Similarities
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Forex Raptor and Forex Autopilot both make claims of extraordinary daily returns on foreign exchange investments. Each AI application claims its algorithm learns market conditions and can adapt and reposition itself for profitability faster than a human. Both algorithms trade on currency pairs, which are comparisons of two currencies whose ratio presents an exchange rate, according to the Forex Traders website. The user interface for both AI applications uses candlestick charts to show the movement of currencies, as well as a ledger-type chart to show the value of each executed trade.
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Differences
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The two applications are similar, but not the same. Forex Raptor runs on both Windows and Apple computers, and users can open an account with as little as $100; Forex Autopilot does not disclose these parameters. Raptor's algorithm also has both automatic and manual modes, whereas Autopilot is equipped specifically for automatic operation. Forex Autopilot comes bundled with extras such as a monetary bonus for buying the robot, as well as two robots that work with the primary one. Raptor only has one robot in its bundle, according to the Forex Raptor website.
Comparison with Human Traders
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Minimizing the human element in investing means more logical, reasoned transactions and fewer gut feelings and fewer impulse buys. On one hand, the robots' calculating and analytical approach to Forex investments means calculated, profitable results. On the other, if the AI trading software encounters something with which it is unfamiliar, it is apt to not respond and thereby cost the investor money, according to Forex STF. Avoiding impulse buys could also complicate taking advantage of unusual market conditions, which could mean an investor misses a rare opportunity.
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