There are several different ways to do automated forex trading. You can depend on signals given by a signal provider or simply run an expert advisor on an install of metatrader that trades based on preprogrammed signals.
I think long-term it is a terrible mistake plenty of new traders make. Buying those EA’s or forex robots is just a waste of time and money. Nobody will sell you what really works on a consistent base nor should they. The only automated trading software I would consider is the one you you have coded with your own strategy after you know you can trust the one you developed.
EA trading can be good if you are the one who create your own bot and trade it according to your own working strategy, but to buy something from the internet, hmm i dont think its a good idea.
Firstly I applaud your grammar senor rambo35 ““Does automated forex trading is a good idea?””
Well… automated systems in trading don’t mean completely hands free trading. You still need to monitor all the parameters and tweak it occasionally. probably the reason why algo systems still need a couple of geniuses behind the screens
Keep it simple. If automated trading worked we all be rich. Hence automated trading is nothing more than a transfer of cash from your bot to whoever took the other side of your trade. No exceptions.
If I score 4% on average every month trading manually, I guess I can go much higher being fully automated.
Day and night, 20 pairs synchronously, reaction down to under a second, etc.
I’m on my way, but I am sooo lazy …
When we trade manually we’re looking at PA for confirmation and by PA I mean candlestick patterns or individual candles. But I’m not sure if same goes for automated trading. I guess it is only triggered when the prices reaches certain point disregarding the candlestick patterns and individual candles altogether. If that’s the case I’d rather trade manually :58:
If a robot worked why would they sell it for $197 bucks? Um because they don’t work!
Some EAs are working very well but cost its few hundred $
Check out zulutrade - the truth is that it works and it works amazingly good!! there is a reason why it is so popular and this is because people are winning !
Autotrading is actually often used. Just make sure to have a stable internet connection. That’s the number 1 requirement just to make sure you want have issues. 