What do you think about trading forex using automated systems? What do you suggest?
i know it’s something that countless financial institutions are doing successfully in the long term
it’s widely accepted (on all the “authority websites” you can ever find) that more than 50% - probably much more - of the volume traded on CME, for example, is automated (that would be “currency futures” rather than “spot forex”, in the case of CME, but the principle’s identical)
the kind of software that does that automated trading is typically leased, for millions of dollars, on profit-sharing arrangements, not sold on the web for $99 or $399 or even $3,999
i’ve never found (or seen any credible accounts of) any independent/retail/individual traders making a living by using such techniques, though
i think the main reason for that will be that institutional traders have access to facilities and technologies not effectively available to retail traders (and perhaps especially not to those using Metatrader and/or dealing with counterparty “brokers”)
i suggest trying to make the most of the few things that retail traders can do that institutions can’t (e.g. using leverage wisely)
i suggest never, under any circumstances, buying an “EA”
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Trading via EA’s is just one kind of many methods, it has pros and cons like other methods.
Currently, there are quality software programs which retail traders can use but usually there are very expensive (couple thousands of dollars).
Sellers with quality EA’s don’t have customers because results are realistic.
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this is a best system to make money instantly but i always prefer only manual trading. because ,manual trading is a permanent solution.
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agree , but that is really a challenging issue to be professional by manual trading, because need a very long time with a good level of patience.
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Forex traders commonly use automated systems to analyze market data and perform trades automatically without human intervention. These systems are also known as expert advisors (EAs), forex robots, or algorithmic trading systems.
Automated forex trading systems can be based on a variety of technical indicators and trading strategies, from simple moving averages and trendlines to more complex strategies involving multiple indicators and advanced mathematical algorithms. Using programming languages like MQL4 and MQL5, traders can also design their automated trading systems.
Automated forex trading systems offer traders some advantages, including the ability to operate 24/7, which allows them to take advantage of market opportunities even when they cannot monitor the markets live. Due to their pre-determined rules and parameters rather than human intuition, automated trading systems can also help eliminate emotional bias from trading decisions.
Automated forex trading systems are not infallible and are liable to experience losses. Traders should take time to adequately test their systems and keep a close eye on their performance regularly to guarantee their functioning correctly and achieving their desired outcomes. Furthermore, traders must have extensive knowledge of the system’s rules and settings so that it is compatible with their personal trading goals and financial risk management plan.
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