What is Automated Forex Trading?This is forex trading without your intervention. The trades are entered automatically for you so you don't have to stay in front of your computer to wait for a trade opportunity. So it is a good solution for traders and non traders who don't know much about forex.How does Automated Forex Trading work?
It can "work" in several ways, let's see 2 here :
Forex Expert Advisor : This is actually a trading robot (software) that you add to your MetaTrader 4 trading platform. The expert advisor analyses the market and decide when to enter and exit trades for profits. Expert advisors can be programmed in many different ways and answer to conditions they have been programmed to. You can customize them with your own settings and strategy. You need to let your computer turned on or use a virtual private server. Always check if an expert advisor seller has live trading results.Automatic Signal Execution. This type of automated forex trading is very convenient since you don't have to even have a computer, at least this is recommended if you want to view your trades, and to open an account online. An automatic signal execution service allows your forex platform or broker to trade your account from signals, sent by signals providers. When setting up your account you choose which signal providers you want to use, the providers send signals to your platform that execute the trades
It is very easy to find which signal providers you want to trust, just don't use too much, some providers are very profitable but requires you have a high margin (large balance available) because they take more risk. This website will explore the Forex Trading market and will also review recommended Forex Trading Softwares:
1. Forex Funnel
2. Forex Autopilot
3. Forex Killer
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