Automated
Forex is an essential tool in the arsenal of the modern-day trader
that provides significant opportunities. Automated Forex is a computer
program, which is based on a variety of Forex trading signals that
evaluate whether to buy or sell a currency pair
at a point in time. This computer program largely advises the trader
to make decisions that are based on a set of signals stemming from
technical analysis charting tools. The signals then generate a buy/sell
decision.
Why Automation?
Automated Forex trading enables trades to be implemented in real
time from anywhere in the world, diminishing the losses that result
from manual trading. Manual trading is negatively impacted by losses due
to the timing delay involved in buying/selling of currency pairs in
the volatile and fast-moving environment of currency exchange.
Automated Forex trading enables traders to conduct hassle-free,
round-the-clock trades, regardless of the time zones of the markets
concerned. These new-generation automation techniques provide greater
protection to the trader’s capital, they also save on time and energy.
Entry/Exit trades may be executed faster when utilizing the Automated
Forex technique, as compared to manual trading.
What to look for in Automation?
One should seek a next-generation automated Forex system that is
available on the internet. Trading software that uses Fibonacci tools
and other frequently used indicators
such as RSI, MACD, Bollinger bands and oscillators, etc., usually give
more reliable results. An automated Forex system should also apply
principles of several progressive scientific theories, for example
those based on the Chaos Theory, Quantum Mechanics, Wavelet Theory and
Fractal Geometry. A good automated system is expected to provide the
trader signals to profit from short-term as well as long-term currency
movements. It should also enable one to set and then achieve realistic
profit goals.
Forex robots, a popular Forex Automation trading tool, are aimed at
eliminating the psychological element of trading, which may prove to be
detrimental at times.
The Forex Application Program Interface program, which is another key
automation tool in the world of Forex trading, enables its users to:
receive a real-time Forex API rate feed, set and modify stop-loss,
submit trade requests and undertake profit orders.
For those involved in currency trading, Automated Forex day trading
would certainly be a welcome addition in an already attractive
investment vehicle..
Article Source: http://en.easy-forex.com
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