Trading with an automated system is not a new fad, and never is a trend that will go out in a few months either. Years ago, companies, such as Renaissance Technologies and Goldman Sachs used such technologies to help increase their bottom line. Instead of using rooms full of expert traders, which would cost the company money and potential human errors, these autopilot solutions would only need a few supercomputers and a couple of traders for maintenance.
These systems would prove to be highly successful. Goldman Sachs Global Alpha would net close to 400 billion in rock solid profits. Renaissance Technologies’ Nova Fund system would end up building up to 10-15% of Nasdaq’s trading volume on a given trading day. These systems cost millions of dollars to program the algorithms and implement them into a trading market, let alone the potential risks of having a machine trade.
Now, let’s concentrate on the Forex Market for a second. The technology is also available in the foreign exchange market as well. The good thing here is, you do not have to spend Millions of dollars in order to acquire such technology. The following are Five, well explained reasons why you should consider an automated trading system:
1. An automated trading system would relieve you of doing hours of tiresome, annoying technical analysis. Unless you are really familiar with the progression of each currency pair, how it behaves in each scenario, and how to place a proper entry/exit point, you will not become…