Understand what AUTOMATED FOREX TRADING SYSTEM Is - Forex Currency Trading Systems
Forex (Foreign exchange market) is an international foreign exchange market, where currencies of different countries are sold and bought freely. It was launched in 1970's, when free currency exchange rates were introduced, and only the members of the market used to decide the price of one currency against the other, continuing from the market supply and demand. Considering the freedom from any external control and open competition, Forex is the perfect market. In fact, it is the biggest liquid financial market, having daily money transactions of approximately 1 to 2 trillion US dollars. This was just a brief insight about forex trading, now let us try to understand what is automated forex trading system. More on forex currency trading systems.
Automated Forex Trading
In automated forex trading, there is a trading program or human experts that make trades for a participant, without him/her actually getting involved. Moreover, with the advent of internet, latest communication technologies, and advanced forex trading systems, taking part in this trading market has become extremely simple for anyone having a computer, an internet connectivity, a forex brokerage account and a good trading program. Automated forex trading system acts as a tool which enables the participant to specify a currency, an asking price and a selling price. Hence, with a small amount and help of a broker, the participant's purchase and sell orders can be executed instantly. More on forex trading tips.
There are generally two categories in automated forex trading, one is in which the participant has to program their own, or someone else's forex system into a program having programming and automatic trading abilities like WealthLab, or other trading program. These programming skills enable the participant to select parameters and test his/her system performance. The other category which does not require much of trading skill s or expertise is automated trading through managed forex, where in an automated forex trading robot or program executes the trades in place of a human team. Hence, one does not have to do trading all by its own, which not only saves time but also enables the participant to manage multiple accounts from his/her trading platforms, just by constantly monitoring the market. More on best forex automatic trading robots.
Besides the advantage of trading multiple systems and markets, an automatic and automated forex trading benefits by allowing your trades to be executes at any time of the day or night, irrespective of your presence. Hence, you will not miss on any single transaction, even if you are not present in front of your computer. On an emotional level, it eliminates human emotions and psychology that may affect correct and profitable trading decisions. Also with an automatic and automated forex trading system, you will be able to monitor many currency pairs, simultaneously and can follow and execute all of them.
Automated Forex Trading Software
An automatic and automatic forex trading basically uses a software program to 'anticipate' rises and falls in currency rates and make profitable trading decisions. The two most commonly used automated forex trading softwares are:
FAP Turbo: Consider to be best robot or program in t erms of diversity and usability, FAP Turbo is a robot build in the old Forex Autopilot engine. The software works well with nearly every single currency pair, that too with any strategy, Long or Short Term. But when it comes to focus on only one currency pair, it ranks second after Megadroid, another automated forex trading software. However, considering the generated profits until now, FAP Turbo beats all other software.
Forex Megadroid: It is another advance forex trading software or robot, quite popular among the users. Having around 90% success rate in predicting the immediate future, this software wins the second spot after FAB Turbo. As it focuses on only one market EUR/USD, it is highly accurate and reliable but offers limited trading diversity. More on automated forex trading software.
The key feature of an automated forex trading is that it is fully programmable and can customize according to a participant's needs. But even with such sophistic ated and highly efficient trading system, one has to be well acquaint with the basics of the forex trading, methods of fundamental and technical analysis, market indicators, etc. for enjoying consistent and maximum profits.
Why this program is better than others?
Most companies or authors will be trying to convince you, that you should use their "systems". They are describing systems in their e-books and tell you to compute everything by your own. Of course it does not work. The one and only method which work for everybody is using already prepared signals. Then you just read the signal generated by our software and use it.