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5 Worrisome Questions Most Traders Have — Automated Trading

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  • 5 Worrisome Questions Most Traders Have — Automated Trading

    Automated trading is HUGE these days. Thanks to the evolution of technology now we have several types of trading technologies or trading robots whatever you may call them.

    With the help of technology now we can trade even faster in very less time. It has made everything vast easier and time-saving.

    But though it’s a technology and as a result, it can cause technological errors. That’s why many traders don’t trust trading software. Also before starting with trading software they usually face some questions.

    Therefore, I’ve researched a bit about it and came with a result. So, without any further ado, let’s dive right in.
    1. Are Forex Automated Trading Systems Profitable?

    Forex automated trading systems can not guarantee a 100% profit, but they are certain that you will make a profit from market movements, whatever the odds may be.

    The forex automated trading system works in a very calculate and coherent way. Expert advisor is basically a program that consists of a specific module that investigates charts and figures, which moves between traders and Forex brokers.

    Programs designed specifically very easy to handle and work with, so you do not need prior training in order to handle them. You only need to download the program, install it, and then adjust the settings on your computer.

    The automated currency trading system will then begin to work and will begin to produce results immediately.

    2. Are Forex Robots Effective?

    Although the FX robot promises to make trades profitable, not all of them are what traders expect them to be.

    Although they can scan millions of different graphs in seconds, most often 90% would change the wrong information. This is understandable — because they are only robots.

    Although they are capable of doing very sophisticated and many times Forex robots lack creative thinking.

    They could not imagine what may happen in the near future, as their function is limited to how they were originally programmed, as well as past performance.

    For traders who use robots, they do not have to completely rely on it to do all their trading activities. In the end, trade requires a large number of human studies and observation.

    Additionally, a human can actually follow up with a variety of economic conditions and follow the news in the financial world.

    But for a Forex robot, it only finds the positive trends and trading signals, but sometimes they do not function well either trend influenced by anxiety or false information.

    Gaining success in FX trading is based on knowledge, skills, and abilities. It involves analytical thinking, and something visual.

    When looking at Forex robots, it is clear that they can not really work this way. Market conditions tend to change over time, and only an experienced Forex trader can distinguish between when to enter the market, or when to stay away.

    3. What is the Best Automated Forex System?

    Many automated Forex systems that are offered for free, with a very tempting service guarantee. However, this program is not perfect. The disadvantage is that many of these systems related to fraud.

    Nonetheless, the best-automated Forex trading system can be safely achieved if privacy parameters programmed into the system are defined and examined.

    It’s hard to say what the best is. There are many robots that used to be profitable. However, they are no longer relevant to today’s market conditions.

    For the most part, it’s best to use the automated system is one that you use for manual trading. Whether it is encoded in MQL, this way you can replace your own efforts with the script.

    4. How You Can Get Efficient EA?

    As mentioned earlier, the best EA is a system that will do exactly what you do, but automatically.

    This way you can save yourself a lot of time, and you’re just going to focus on the development of your trading strategy, without actually have to execute it. This, of course, saves time for the majority of Forex traders.

    If you are trading on the MT4 trading platform, you will need to write your own trading robots using MQL programming language. It may happen that you are a good trader, but have little programming knowledge or no.

    This is not a problem — there are many outstanding, reputation available MQL programmers who will code your trading strategy and make EA for you at a reasonable cost.

    5. Are Automated Trading Systems a Scam?

    The idea of ​​having a program for your market trading may sound too good to be true, which can cause many to wonder if it was all a scam. In fact, the federal government assumes some automated trading systems into fraud.

    In the same way, you are unlikely to find an article in Forbes, the Wall Street Journal, or other respected news sources that promote them.

    Moreover, even several online traders try to move other robots in the ranking by claiming that those opposed to them are scams. Many advertised with false claims by people who have made serious money implementing this system.

    The truth, however, is that a large number of investors and traders have lost a lot of money by using a so-called ‘free’ Forex robots work. In fact, there are situations where all accounts have been destroyed.

    The biggest disadvantage of the automated trading system in the Forex market is that there are a lot of scams. The more you look for the perfect system, the higher the chance to see pages that promote EA with a daily return of 100% is.

    This page displays the history of MetaTrader shows how profitable advisers are — and they usually come at a price. You can buy some software for as little as 25 USD, while some software may cost as much as 1000 USD.

    Some web sites will guarantee a high profit, and may even offer a money-back guarantee. However, most types of EA, unfortunately, are a fraud.

    Think for yourself for a moment. Whether you are selling a very profitable trading system if you can make a profit with it on my managed accounts?

    Probably not.

    An efficient automated system will be priced as low as 25 USD?

    Again, this is highly unlikely.

    Developers of automated trading can potentially become a millionaire. Intelligent designers realize that people yearn to make a lot of money and try to ensure that Forex trading robots appear to be one of the best ways that they can achieve this.

    Nonetheless, they make use of this as a possibility to design robots or other software (or even DVDs, webinars, seminars, e-books, etc.) to sell and prosper.

    If the robot they sell really can make a huge amount of money through currency trading, then what is the point to sell them to others and do not take advantage of them in their own Forex account?

    The answer is logical — the robot can hardly make money for Forex traders. FX robot can be $ 99 or free Forex robots really make hundreds or thousands of dollars each month?
    If you can, you have to ask yourself — will it actually sell for relatively low prices?
    It is important to be able to identify the fraud EA and do not fall for them. In general, it makes sense to avoid anything that you have to pay for.

    Not only will you lose money on the purchase of the software, but if you use the adviser on a live account, you can also lose your trade balance.
    So, make your choice wisely. Good Luck!

  • #2
    I wouldn't take that risk, especially since I have certain knowledge about trading and I'm not afraid to act on my own, I think that only controlling the situation from your side is a guarantee that if something goes wrong, you will be able to find a way out of the situation or at least just pause to deal with it later, I don't think, that passivity in this business is something that can bring good money, why not get used to it yourself, especially since it is so interesting to independently find the moments that can help you earn, for me it's a whole study and I'm ready to spend all my free time on it, especially considering the amount of profit we are talking about...


    • #3
      I also had these questions in my mind and was searching for it when I landed here.


      • #4
        Judging by the formats that I have noticed in different brokerage companies, I can draw this conclusion. Automatic trading is allowed, but only if you are able to regulate the conditions and applicable amounts yourself. I have found passive formats that allow you to set your own stop-loss level, order size, suspend trading if you have reached a certain drawdown level. It seems to me that in this case you can try automatic trading. But of course you should not accept any offers, especially those that do not inspire confidence in yourself or contain too many contradictory factors. And even if you find a suitable option, you should check it with a small amount to make sure that everything is okay.


        • #5
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          • #6
            Best to find your own strategy first then automate if you can


            • #7
              Originally posted by DavideT View Post
              Best to find your own strategy first then automate if you can
              I would agree, shouldn't folow someone else blindly