This automated software negates the need for human traders to be present, allowing trades all over the world to be executed by a computer system. Using the right program will also allow you to tweak the technical parameters and amend lot size, risk parameters, stop losses and take profits.
First coined during the emergence of online retail exchange in the late 1990s, automated trading systems – sometimes known as ‘machine’ or ‘black box’ platforms- use algorithms to dictate the timing, pricing and quantity of the order so they can be initiated automatically.
Fully-automated software will enable you to buy and sell across a myriad of markets and time frames. The benefit of automated trading is that it remains entirely unaffected by psychological elements, unlike human traders. Besides, computers generate more trades per market than you yourself would be capable of.
But if you’re new to Forex trading, how do you know which one to invest in?
Many leading developers will fully utilise their online sites, allowing their software to be downloaded or purchased through the page.
You will also be able to discover details about their company, and whether they are a trusted and reputable source. Unfortunately, the Forex marketplace is highly attractive to scammers, so it’s important to fully scope out a company before giving them access to your personal details. Have a look through their credentials and any customer testimonials that might be listed.
The most user-friendly programs will…