Robotic Trading Systems work completely on the basis of codes that have been programed into the processing system. There are different trading software which offer specific actions such as placing order, identifying profitable trading opportunities, etc. Examples of Fully Automated versions include “Interactive Brokers”, “WealthLab” and “TradeStation”.
An automatic and automated forex trading system allows you to benefit from the profitability of the forex market without having to become an expert in trading. With a reliable auto trading platform, you are not required to do the actual trading yourself and therefore you save your time.
An automatic and automated forex trading allow your trades to be made at any time of the day or night, regardless of your presence.
An automatic and automated forex trading also eliminates human emotions and, psychology that can often affect proper and profitable trading decisions. Moreover, the dynamic nature of stock trading requires constant monitoring of the market so that the perfect condition for selling or buying securities. The entry and exit rules for trading can either include very simple logic (for example moving average crossover) or it could involve complex trading strategies which would require thorough knowledge of the programming language used for defining the trading logic. These codes contain explicit trading rules that function on the basis of complex calculation and speculation algorithms. In automated trading through managed accounts, the trading program executes the trades for you. And if you can watch the market constantly, you can manage multiple accounts from your trading platforms, simultaneously, which was never possible with manual trading.
With an automatic and automated forex trading system, you will be capable of monitoring many currency pairs at a time and you can follow and execute all of them.
As a means to facilitate the process, automated trading systems (known as Robotic Trading Systems) were developed for providing a computer operated system that would make buying and selling decisions based on predefined trading algorithms.
Only when the market conditions and the trading scenario complies with the rules that have been defined by the trader, does the system place an order with the stock broker for buying or selling specific stocks.
Prior to founding CoolTrade, Barsano was a programmer and software design engineer for Microsoft Corp, before retiring in 1995.
Automated forex trading systems present advantage of trading multiple systems and multiple markets. Fully automated versions, however, are capable of placing orders with the broker as soon as favourable conditions are met.
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