Save time with forex trading

invescience · March 11, 2010, 5:47am

Hi all,

i am new in forex trading.

I would like to ask if there is a way to save time in forex.

I am intraday trader and i don’t know if there is a way to avoid staying many hours in front of a screen waiting some criteria to be verified so that i give an order.

Thank you for your time

Robbkore · March 11, 2010, 4:35pm

Depending on the setup you have there are a few options (as I understand it, I’m kinda new to this too and still learning a lot):

You can buy one of those Robots that does the trading for you. They range in price and effectiveness and there is a huge risk there if you pick the wrong robot. You also have to bear in mind that most of these trading bots are designed to work with a MINIMUM capital investment and they are also only designed to work in certain situations/trands.
You can get a managed account. These usually run 10s of thousands of dollars and you share the profits with the managing firm. I haven’t spent a lot of time looking at this option as it doesn’t fit my personal style (I like to have way more control over my investments).
You can pay for a signal service which would text message or email you buy and sell signals. As with everything else the cost and accuracy of the signals is going to vary.
You can get an EA (if your trading software allows it) that would trigger an email or text message. Most commonly people will use this option to be alerted to crossovers and things of that nature, which they could then look at and act on manually.

Given your line of questioning option 4 would probably be most fitting for what you want to do.

I’m sure you can also search these forums (and others) as I’m sure this subject has been discussed numerous times.

invescience · March 12, 2010, 4:11pm

Robbkore:

Depending on the setup you have there are a few options (as I understand it, I’m kinda new to this too and still learning a lot):

You can buy one of those Robots that does the trading for you. They range in price and effectiveness and there is a huge risk there if you pick the wrong robot. You also have to bear in mind that most of these trading bots are designed to work with a MINIMUM capital investment and they are also only designed to work in certain situations/trands.

You can get a managed account. These usually run 10s of thousands of dollars and you share the profits with the managing firm. I haven’t spent a lot of time looking at this option as it doesn’t fit my personal style (I like to have way more control over my investments).

You can pay for a signal service which would text message or email you buy and sell signals. As with everything else the cost and accuracy of the signals is going to vary.

You can get an EA (if your trading software allows it) that would trigger an email or text message. Most commonly people will use this option to be alerted to crossovers and things of that nature, which they could then look at and act on manually.

Given your line of questioning option 4 would probably be most fitting for what you want to do.

I’m sure you can also search these forums (and others) as I’m sure this subject has been discussed numerous times.

Thank you for your time. The informations that i got from you are very useful and it was very kind the fact that you helped.