Automatic Or Automated Forex Trading: Why Are Traders Using Automated Forex Robots?
It's become more and more popular.
What is it? It's automatic or automated forex trading.
The reason why many people opt for this method of forex trading is 3 fold:
1. With an automated forex trading system, there is no need to take the lengthly time to learn a forex system.
2. These systems avoids the human error caused by incorrectly interpreting the market (especially with a discretionary system), interpreting the rules and placing trades.
3. With an automated system, you do not have to be available at the screen 24 hours a day to be able to place the trades that you are supposed to trade.
For a system that trades with a forex robot, see this system here The "Forex Autopilot System"
Here's what others have to say about the "Forex Autopilot System" due to the fact that it is automated:
“$67,000 In 6 Months As A Complete Novice”
“Even though I had absolutely no previous business or trading experience my profits have gone through the roof! I strongly encourage anyone who’s ever wanted to work from home to purchase this system. The best part is that if you’re not 100% completely satisfied with how it performs – just get a refund. There’s absolutely nothing to lose!”
“I Increased My Investment by Over 140% in Just 3 Days”
“What can I say? After investing just $200 into the Forex Market your auto-pilot software netted me a clear profit of $489.75 in the first 72 Hours! I couldn’t believe how user-friendly it was. Within a month of using the system I only had to work part-time, allowing me to spend more time with my daughter Lauren. Thanks Marcus you’re a real life saver.”
Plus see this screenshot of the originator of this system's trading results:
Note that any returns in a trading system in the past does not equal or guarantee future returns.
Forex Funnel Automated Forex System
The other automated forex system is this one by Forex Funnel.
The forex funnel system works on the USD/JPY pair on the 1 hour timeframe.
Is it likely to achieve profits?
It offers 4 years of forward tested data and for the inventor of this system has returned over $115 000 per year on average for that time.
On the report he also has the gross profit and loss, and absolute and relative drawdown, and total trades.
Plus there are some video customer testimonials on their site as well to tell of their profits with this system.
You get a demo account, and you also get $500 thrown into your live account as a bonus, as the creator of this system is confident enough that this system works.
Want to find out more?
Have a look at Forex Funnel Automated Forex Trading System here.
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Automated forex versus traditional manual forex
Traditionally, there is an emphasis on learning how to trade a system yourself.
This does take time and dedication of course as you have to learn about the forex market, how to interpret forex chart patterns, how you system works including all its rules (such as when to move stop losses or take profits or move to breakeven), and how to efficiently place the trades at the exact timing you need to. Speed and accuracy is especialy important if you're trading say 5 minutely or minutely charts like a pro.
The key of course is to compare and have a look at systems, be they automated or manual to see that you're happy with their results, their drawdowns, and of course you have to practice sensible money management skills and trade sensible amounts with either manual or auto trading systems with currency trading.
With automated forex, you're using a system that is programmable and that can be traded in real time by a forex trading robot. Of course you have to monitor its performance as you do with whatever system you trade be it automatic with a trading bot or manual. This is to check that the performance is in keeping with the characteristics of the system and that you're happy with the overall results.
When checking out their system, see if you can see that the results published are not hypothetical performance results, but are in fact real time and live trading results. Also check the monthly profits and losses (either dollar or pipps by month, and win loss amounts), and the consistency of the system. Of course remember that past results are not necessarily indicative of future results.
With an automated trading system in forex, check also that the performance has been solid over various market conditions, as this is a sign that the system is robust and has proven itself over time in the market and that it can achieve profit in these various conditions. When you have an automatic system, you'll be using a forex broker that can manage these automated trades (the forex signal trading from the program that generates the trades over each 24 hour period) as well.
Check that you're happy with and familiar with the trading platform that the automated program trades with so that you know how to interpret its actions.
Also, you'll have to apply sound and sensible money management to your trades as well, to ensure that your risk is minimised and that your ability to produce profit is maximised over the long term. You can use your own expert advisor or financial advisor when it comes to this.
So in the end, you can either do automated trading with a program you designed yourself with WealthLab, Metatrader, Tradestation or you can use a program that has already been developed and that has been shown to work.
Click here to learn more about why people are using managed forex, a different form of automated forex.
All trading involves a high risk of financial loss, and the information on this site is for general information purposes only and is not financial advice in any form. See your own financial advice before taking any action.
All forms of trading involves risk of financial loss.
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Testimonials and trading results of products and services from some people or users of products, does not guarantee or indicate similar results from another user of that product or service.