Many traders use some type of software in their trading. In Forex trading there are tow kinds of such software. First type is auxiliary software. It's an indicator that interprets the price action or some more sophisticated program that generates buy-sell signals. The second type of trading software is what I call automatic trading software. This software executes the trades in real time on your broker's platform. I would like to describe those two types of software in greater detail.
Auxiliary trading software
All traders are familiar with this type of software. The simplest version of it is and indicator of a price action. Some people build programs to generate buy and sell signals based on those indicators. These tools make analyzing the price data much more easy task. Keep in mind though that the most valuable tool in trading is your mindset. If it is in place then any software will make your trading more successful.
Forex automatic trading software
This kind of program is becoming more and more popular among Forex traders lately. It seems like it should be the best way to trade since the machine doesn't have human emotions such as fear and greed. So it should not be susceptible to trading errors due to those emotions. The reality is much more complex and interesting. If a successful trader uses the automatic trading software he makes profit in a long run. When a beginner tries to use such software he loses money.
What's the reason for getting different results? The problem with automatic trading is that it uses certain trading strategy only for certain market conditions. Once the conditions change software starts losing money.
My personal experience with Forex automatic trading The same was for me. In the beginning of my trading experience I was constantly failing. My equity curve looked like a trajectory of falling rock. The only problem for me was that over time those programs and Expert Advisors stop making profit as they did it before. I tried different kinds of software and Expert Advisors. Finally found what I was looking for. I have posted my trading results with this one at Forex Automatic page. I gave more detailed overview as well as trading results on Metatrader platform. Also I highly recommend you to visit Forex-Opportunity.info to learn more about automated Forex trading. At least sign up for a newsletter to get a comprehensive trading advice |
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