subject: Automatic Forex Trading. Why everyone is using them and which ones do work [print this page] Automated Forex Trading has become a very common way to trade the Forex market, especially if you are only starting to look into trading Forex...
What exactly is automated Forex trading?
Automated Forex trading basically means you are using software that was designed to think for you by watching the Forex markets so it can enter and exit trades for you.
So, if for example you do not have the luxury or do not want to sit at home all day in front of a computer screen trying to figure out when to buy and when to sell, or if you are entirely new to Forex trading, automated Forex trading software will enter and exit trades for you!
This might still sound like a complicated task, but in reality you only need to install the software and let it do all the work for you.
What are the advantages in using automated Forex trading software?
There are a number of reasons and benefits to using an automated system:
Trading around the clock without you having to be at your computer watching the markets. As exciting as trading Forex can be, you surely don't want to spend 8+ hours in front of a computer screen. Automated Forex trading does all the donkey work for you.
You do not need any prior Forex trading experience. The software does it all for you.
The software runs independently on your PC/Server depending on the automated Forex trading package you buy.
Make money even if you are at work, watching TV and even overnight while you are asleep! The Forex market never sleeps. Having an automated Forex system run continuesly means you can be making money at any time of the day or night.
Learning to trade Forex is something everyone can do, but it does take a lot of time, practice and pratience. I don't know about you, but I do not have lots of free time to start with, never mind patience and practice! Automated Forex trading allows you to learn the ropes when you have the time to sit and watch it entering and exiting trades until you feel confident enough to start trading yourself, or, just stick to using the software
An automated system is unaffected by the traders psychology. Trading real money is not the same as trading with a $100 000 demo account, especially when it's your own money on the line. Automated Forex trading removes these emotions completely and executes profitable trades without you having to do anything.
You can trade multiple systems at the same time. There are many different indicators and timeframes an Automated Forex Trading system can be programmed to use and not all of them use the same strategy. By using more than one system you can lower or diversify your risk and boost your chanses of making decent profits.
Automated systems take the guess work out of the equation. Knowing when to buy, hold and when to sell is not always as easy as it may sound. Switching to or starting with an automated Forex trading system leaves you free to observe and learn while the software does all the thinking for you.
Today, many people are using automated Forex trading and many have seen very good results. However, I must point out to you that not all systems are created equal. Some have undergone rigorous back tests as well as live trading to ensure they do in fact work! Below I have some links to 3 automated Forex trading systems that has been proven to work with great results...
In most cases people who are looking to purchase or try automated Forex trading have little expertise when it comes to Forex trading and that is where using an automated system will help and guide you with much less risk than trying to figure it out yourself.
In fact, you could expect to see some results the same day you install and run the software! Even people who have never traded currency before can make a profit with Forex.
Okay, so where do I start and which automated Forex system do I use?
There are many software packages out there but do take care in choosing one! As I have mentioned earlier, not all automated Forex trading systems use the same indicators or timeframes and not all of them have been comprehensively tested.
Interested in knowing which automated Forex systems really do work? Have a look at the link at the bottom of this article!
Working smarter, not harder should be your ultimate goal at the end of the day. Having automated Forex trading software in your arsenal is definitely a good place to start learning to trade the Forex market.
A word of advise: You can try and learn how to trade Forex all by yourself. But, sometimes this may take years of experience, trial and error and a lot of money if you keep making mistakes.. Using automated Forex trading right from the start will teach you how and when to make profitable trades, nearly every single time
Happy trading!
PS. Dont forget to have a look at the links Below!
Automatic Forex Trading. Why everyone is using them and which ones do work
