Automated Forex trading is the way of trading Forex with using specially created software called Forex Expert Advisors or simply Forex robots. Each expert adviser has been created based on using the specific algorithm of forex trading that includes the entry and exit conditions as well as the system of money management. In fact, this kind of trading can be done without trader's participation. Usually, forex robots are created by the development teams, which include traders with long and successful experience in forex.
They're using the accumulated knowledge in order to create the profitable strategies that the expert advisor will be based on. Automated Forex trading is the best way of trading for those who appreciate their time highly and can't spend all day long by the PC working on Forex. The software for such trading can be downloaded, bought or either created by trader himself thankfully to the special programming languages like MetaQuotesLanguage.
It is widely known that the emotions can become a reason for the significant money loses in forex. Under the influence of greed trader can force the unsuitable trades, the hope might hold him from closing the unprofitable trade etc.
So the discipline is very important feature of the forex trader. At the same time, forex robots have no emotions at all. They will always follow the built-in algorithm and never enter the trade until all the conditions are met, or will never keep the unprofitable trade open when it reaches the spot loss.
Forex is round-the-clock market. Currencies are being trade 24 hours a day, and the money making opportunity can appear any moment. It is impossible for live person to keep trading for 24 hours at least for a few days in a raw. However, automated forex trading allows you leave the computer and let the expert adviser to trade in your behalf. Money management is very important part of the forex trading. Even though most of the traders know how to use it, a lot of them can ignore the money management rules because of the emotions or simple inattentiveness.
That is what will never happen to the forex robot. It will follow the money management rules at all times and will never let you lose the account in one trade. One more advantage of the automated forex trading is the speed of analyzing data and taking the decisions. Forex robots are able to analyze huge amounts of information and take the decisions based on it within milliseconds. While manual forex traders have to spend much longer time to proceed the same action.
Automated forex trading would also be a good opportunity for the new traders. Gaining profit from manual currency trading requires very deep and detailed knowledge about the Forex. At the same time for using forex robot you will only need to learn some basics. Although, automated forex trading also carries some dangers. First of all, it is important that the trader does not adjust any parameters of the expert adviser, in case he doesn't know for sure how they are going to impact the trading process.
Another important thing to consider is that some of the forex robots are sensitive to the market condition. Before start trading on live account it is required to run a series of the back test, to know exactly how expert advisor reacts on the changing market conditions.
In the conclusion, we can say that automated forex trading has some major advantages against the manual trading. It can help new traders to become successful in case they will follow a few simple rules. Forex Trading Strategy — ProFx 5. Automated Forex Trading vs.
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