Automated currency system trading

Automated currency system trading

Author: EugeneN Date: 10.07.2017

This is why robots became popular. Basically, robots and other forms of automated software promise to make traders big profits with little or no effort on their part. What exactly is a Forex robot? Forex trading robots became so popular almost from As far I can see, some of them are still being sold and some new ones come every now and then. The question is whether they really work and who buys them and why? Do they really need an auto-trading robot to make money for them? Why would Forex traders want to use robots?

Their main goal making easy money out of Forex market without doing anything manually or having to sit at the computer. Most Forex traders lose and when they get fed up of losing, they look for the other ways as the solution. And, robots look like a good solution at the beginning. This is what the robots developers let them know when they buy the robot. Some robots are able to scan numerous charts and watching their movements all at the same time which is beyond human capability somehow.

Also, robots are programmed with parameters needed in making trade decisions. With embedded trade signals, they decide when or when not to trade.

Some robots offer solutions to find profitable trades even in erratic market chaos when the trending direction is unclear. By following the best trend, they can maximize their profits and possibly eliminate chances of taking losses. Obviously, trading against the trend leads to loss after loss while trading with it maximizes profits regardless of the method or robot that is used to trade.

But wait a second. Do a robot that can find and follow the trends really exist? I am going to answer this question shortly. Most robots trade within the range. They make some pips trading inside the tight range during the slowest forex market time, while they usually set a few pips target and too wide or no stop loss.

automated currency system trading

Thus, finding a great trend to follow is crucial. According to the federal government, most of them are scams. In fact, some had their entire accounts wiped out. If you want to know how effective they really are, check out reviews online. After all, Forex robots are only robots. For traders that use one, they should not depend on it to do conduct all their trading activity. After all, trading requires a great amount of human observation and research.

Foreign exchange autotrading - Wikipedia

Also, humans, not software, can follow up with economic conditions or keep up with the financial news. Robots can only find positive trends and trading signals, but sometimes their functionality is adversely affected by jittery trends or false information. Hackers and viruses might also hamper robots. Automated forex trading software or robots are good opportunities for their developers to make money, not for you as a Forex traders. But they can make the developers millionaire. Smart developers know that people are eager to make money and forex trading is one of the ways they can follow to make money.

However, they use this as an opportunity to create a robot or software or an e-book, DVD, course, seminar, webinar, … to sell and make money. This can have less headache for them, whereas selling a product has a lot of headaches, and is a lot of work. They are the only one who make money through selling the robots.

It is possible that a robot makes money for a limited time, but then it starts losing and in most cases it wipes out all the money it has made with one position. Most robots are scalpers. They make a few pips with each position they take. They set a very tight target and too wide or no stop loss.

Can a trader survive with such a strategy? Forex trading is an skill, knowledge and art.

automated currency system trading

It cannot be done by a software. Besides, markets conditions change all the time. It is only an experienced trader who is able to distinguish when to enter the market and when to stay away. I only pray that those guys using those robots discover this site before its too late!

Best Online Automated Trading Systems Software - Altavest

Thanks and happy trading. Your article above is so tru…. All that being said, I do however strongly believe in the power of semi-automating your trading.

What I mean here is that I believe that if I have a set of criteria already in place before I make a trade…. Sorry for going on here… but…. I am not disciplined enough as a human to be a good trader so I rely on a little help from my cpu friends…. You are right about the semi-automated robots that help the traders manage their positions, move the stop loss and target, hide the stop loss and target from the broker and…. In the above article I am talking about the fully automated robots that are sold over the internet.

They make the novice traders lose money and get disappointed on forex trading. So it is not an auto-trading robot.

What You Need to Know about Automated Forex Trading Systems - Forex Training Group

It just plots the lines. He wants to share it on LuckScout for free. It is a while that I am checking it to see if it is good enough to be shared on the site, and I have come to this conclusion that it can help novice traders learn technical analysis much easier and better. So I have decided to share it on the site. So in general I agree with you that some robots can help. This cBot will get the most of your winning trades.

It will prevent hitting the target while you are surfing a winning trend, without risking the pips you are already earning. Erik, I enjoyed your comment about the robots. I would like to check them out. Am i professional trader. It allows us to trade manually as well. Using robots help us very much especially if you actually do it right in the parameters and if you understand the market and keeping in mind that there are lots of scam and stupid robots.

One of the biggest problems is that we need a VPS for those. A friend recommended me a platform called vertexfx which have great features which saved us thousands of dollars.

One of the main features is the free EA hosting! Do a quick Google search for details. Actually forex robots are good and very useful. They automate our trading and help us to get better results and performance. Of course this depends on the robots.

Automated Forex Trading Platforms - AvaTrade

For example i mix manual trading and automated managing of these trades. I use a forex robot called forex profit defender to set automatic trailing stops to my manually opened trades. If there are any other forex traders who do the same please share your experience here i would like to get other traders opinion.

The robots that help you manage your open positions are helpful. Or you have to rent a VPS and let the robot work on it 24 per day. Leave a Reply Cancel reply:. Your email address will not be published. Notify me of followup comments via e-mail. You can also subscribe without commenting. Get Our New E-Books For Free. Do Automated Forex Trading Software or Robots Work? Forex Trading Robots Last Updated: Enter Your Email Address and Check Your Inbox: LEARN A PROVEN BUSINESS PLAN.

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