Many traders start to trade Forex manually. I used to do the same. In the beginning it was very hard. I was on a verge of quitting trading currencies.
After some time of trading experience I came across automatic Forex trading software but I was skeptical at first. After all that software works then any trader would get rich quickly by putting their trading on autopilot.
After experimenting for some time I discovered that it was not that simple. They do work but trader needs to be careful and watch for a few parameters of the robot to make sure it stays profitable.
If you think that all of these trading software that automate your trading are scams think again. It is known that some, though not all, managed Forex accounts are traded using automated trading software. A trading program actually executes the trades instead of a human.
Now is there such thing as a best trading program? You see the major disadvantage of that software is that it gets outdated because market conditions tend to change overtime. A trading robot that was giving nice profit last year may not work very well this year. So to have good trading software you need constantly update it.
For example Euro vs. US dollar was in uptrend for long period of time. An Expert Advisor that is programmed for such market behavior now will be losing money since that pair in a downtrend.
You can get a market that was constantly ranging into a strong trend. The opposite is true. A strong…