Recently there is a gain in popularity for foerx trading. At the same time, there is also surge in popularity with Automated forex trading software. In a volatile market environment such as forex, can automated forex trading software really work? I am going to share with you in this article, my very own experience with automated forex trading software in a volatile forex market.
First of all, what is automated forex trading software all about? Traditionally and now still is, traders will usually sit in front a monitor screen to monitor the movement of their desired pair of trade awaiting for the right entry signal to surface. Problem is if you have been trading forex market for a while, you will notice most of the time, forex market is moving 'sideway'. You might be staring at the monitor whole day and nothing is done.Automated forex trading software is an algorithm code written by professional programmers and with advices of the experienced forex traders. It will relieve you from staring at the monitor every seconds. With the correct settings, the 'robots' will assist you to enter and exit trades when the signals surface according to your settings.
Does it really work?
I would say it really depend on your level of understanding the forex market and the automated forex trading software that you will use. For instant, some automated forex trading software work best with longer time frame and some work best with shorter time frame.
Any advantage for using a forex trading robot?
Firstly using a robot to trade is with the optimal settings, it can help you to trade 24 hours. Forex market operates 24 hours a day, so while you are sleeping you do not have to worry about missing out an opportunity or losing too much. You will sleep better at night knowing that you have an automated trading system in place.
Secondly a forex robot does not have any opinions and emotions. But if you are trading the forex market yourself, you may face emotion problem. This is the why many traders fail to perform consistently with profitable returns.
Thirdly, not only the robot does not have any emotions, they also will not feel the stress. If you were to trade yourself, you might easily being 'lure' into stressful mode which may lead you to make wrong decisions, example enter or exit the market earlier than plan.
If you are into trading forex for a living, you should really try out automated trading software . I will suggest you to start trying it out with a demo account instead of real money first to have a 'good feel' for the system.
Click here to read report about can you really use automated forex trading software to trade forex for a living?
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