There are different types of trading robots, each designed to operate based on specific market conditions and trading styles. Here are some of the most common types of trading robots:

Trend-following robots: These robots are designed to follow the trend of the market and identify when to enter or exit a trade based on the direction of the trend. They use technical indicators and price patterns to identify the trend and execute trades accordingly.

Mean-reverting robots: These robots are designed to take advantage of market fluctuations by buying or selling assets when they deviate from their long-term average price. They use statistical models and technical indicators to identify when an asset is overbought or oversold and execute trades accordingly.

Arbitrage robots: These robots are designed to take advantage of price differences between different markets or exchanges by buying an asset in one market and selling it in another. They require fast execution times and access to multiple markets to identify and exploit price discrepancies.

News-trading robots: These robots are designed to trade based on news and economic events that can impact the markets. They use algorithms to analyze news articles and economic data releases and execute trades based on the expected market reaction.

Scalping robots: These robots are designed to make multiple small trades in a short period of time to take advantage of small price movements. They require fast execution times and access to low-latency trading platforms to execute trades quickly.

Overall, trading robots are designed to automate trading decisions based on predefined rules and algorithms. They can operate 24/7 without the need for human intervention and can potentially execute trades faster and more efficiently than human traders. However, they also come with certain risks, such as the potential for technical errors or the inability to adapt to changing market conditions.

Looking to learn about forex? Take our crash courses at our Forex University. If you’re looking to setup a demo trading account then click here. Finally, if you’re looking for Forex Signals, Forex Portugal provides free & premium signals on-demand.