Algo Trader vs Quant compares two popular forex trading robots, the MetaTrader and the Avanti. They are both robots created by traders that know what they are talking about in terms of free market analysis.
The differences between these two systems are quite significant, and it can be really hard to decide on who the better of the two is.
Difference: Algo Trader vs Quant
The first difference is in the method that these robots use for trading. MetaTrader uses trends as their basis for making trading decisions. That is because trends tend to repeat themselves. On the other hand, Avanti bases its trading method on complex mathematical algorithms instead of relying on trends. Its main objective is to make trading decisions based on real-time quotes and data.
If you want to get the best out of your robot, you should try using the Avanti trading robot.
The next difference between these two robots is in the implementation of each robot. MetaTrader hands off the robot, while Avanti makes use of indicators and trend lines so that you can get a better picture of where the market is going. These are both good features but what makes them better than each other is what makes them successful.
After doing a hard research we found that Algo Trader is better than Quant. So, let’s learn how it is?
How Algo Trader is better than Quant?
Algo Trader has over Quant because it is more resistant to outside influences such as emotions and guesswork. When you are using a hands-off trading robot, you have less chance of getting influenced by news.
Advantages and disadvantages of Algo Trader
The good thing about Algo Trader is that it is faster than Quant. Although Quant is also fast, it does not have nearly the speed of Algo Trader. Since Algo Trader does not rely on trends, you can expect trades to be made on average every ninety seconds.
However, Algo Trader does have its weaknesses. It can also be difficult to use. It requires you to understand how to utilize its indicators and trendlines. It can be not very clear to learn how to use it since it is different from other robots. Algo Trader will require that you have a good grasp of the Forex market to use its indicators. It can take some time, but it will be worth it in the end.
Algo Trader uses MetaTrader 4 to allow you to program it. It is easy to learn how to use, and it can save you a ton of money since it can be programmed and set up on your computer. Algo Trader is a very user-friendly robot that anyone can easily use. It can also make trades for you automatically with little to no instruction on how to do so.
The last disadvantage of Algo Trader compared to other robots such as Quant is that it can only use it for binary currency trading. In other words, we can only use it for the exchange of one currency against another currency. While it can make trades for you on your behalf, it can only work for currencies that you deal with very closely. If you want it to work for other types of trading, you will need to purchase additional software such as MetaTrader 4 Professional. It will allow you to work with multiple types of currencies.
To start a free trial of MetaTrader 4 Professional, Click here.
Algo Trader does have some advantages over other robots. It is easy to understand, fast to learn and can save you a lot of money on trading. However, these are all sacrifices that you will have to make if you want to use the full potential of Algo Trader. Make sure you do your research and compare all the trading robots out there to make an informed decision about which one will work best for you.