Automated Forex Trading.
To date Forex trading can be done through computer programs that support the automatic exchange of data with the server dealing center. In trading terminal MetaTrader4, the most widely used trading platform, it is integrated the development environment of user scripts, indicators and advisors, MQL4. With this language you can create a program that will monitor the accuracy of the current market situation, record the signals for opening and closing orders, and open and close positions in accordance with these signals.
Forex trading, thus, is done in automatic mode. All that you have to do – to monitor the correctness of the composed algorithm according to statements and signals which can be displayed directly on the chart. Significant advantage of automated Forex trading is the possibility of instant complex calculations and analysis of large historical data, if required. MQL4 allows you to customize your trading system so that it will exactly match your “hand” analog, and Forex trading will not waste your precious time.
As a result, the automated Forex trading has several advantages:
There is no need to attend in person at the computer, controlling the behavior of the market by looking for signals on the opening / closing of position or movement of the level of stop-loss.
Opening of the order, as well as its closure, is made instantly, taking into account the delay in signal transmission to the trading server. In Forex trading, in conditions of dynamic market and strong impulses, it is undoubtedly a very useful property.
1. Automated Forex trading can be a clock that will increase the number of deals and thus increase revenue.
2. Setting up a floating level of stop-loss on the condition. It is no secret that the standard script – is a very useful thing, but in the case of small setbacks, it could prevent a greater return.
3. Possibility of automatic optimization of the indicators. Optimization gives the best results of Forex trading, but only for a limited time intervals. Having configured periodic optimization, the system will do everything for you, check back data directly during the bidding.
4. The ability to customize the order close to the time. Often, the positions may be closed before the release of important economic news and reports of central banks.
5. Exclusion of the human factor out of the system. Susceptibility to mood swings – is the most dangerous enemy of a trader in Forex trading.
6. Strict adherence to the planned strategy. Clear rules of money management incorporated into the program will help to maintain profits in an uncertain market.
7. Automatic Forex trading can be programmed to increase the volume of trade in a given scheme. It is very convenient to increase or decrease the number of lots in different conditions, both for progressive earnings and to maintain a deposit in case of drawdown (the largest series of losing trades in a row).
Disadvantages of automated Forex trading also exist, but they are only limited by the problems of all computer applications, such as rigidity and lack of intuition. Flexibility of trading systems, of course, quite an important factor for successful trading in Forex, and intuition – is a subjective factor that helps not to everybody. In any case, under the guidance of the trader, the program may be the best tool to make profit in Forex trading. Thus, the program Forex in skilled hands can become a source of stable income.
There are two ways you can earn on currency exchange market.
Alternatively, you can hire professional traders to manage your account and they will trade for you. Find out more about forex investment.