Automated Forex Trading - Why Everyone Is Using It and How You Could Too
Automated Forex Trading has become a very common way to trade the Forex market, especially if you are new to Forex trading...
What exactly is automated Forex trading?
Automated Forex trading basically means you are using software that was designed to think for you by watching the Forex markets so it can enter and exit trades for you.
If for example you are like me and you do not have the luxury or do not want to sit at home all day in front of a computer screen trying to figure out when to buy and when to sell, or if you are completely new to Forex trading, the software will enter and exit trades for you!
This might still sound like a complicated task, but in reality you only need to install the software and let it do all the work for you.
What are the advantages in using automated software?
There are quite a few reasons and benefits to using an automated system:
Trading 24 hours a day without you having to sit in front of the screen watching the markets. As exciting as trading Forex can be, you surely don't want to spend 8+ hours in front of a computer screen. Automated Forex trading does all the donkey work for you.
You do not need any prior Forex trading experience The software will do it all for you.
Runs independently on your PC/Server depending on the software package you buy.
Allows you to make money while you are at work, watching TV and even overnight while you are asleep! Since this is a software program and the Forex markets never sleeps, they both work very well together at any time of the day or night.
Learning to trade Forex is something everyone can do, but it does take a lot of time, practice and pratience. I don't know about you, but I do not have lots of free time to start with, never mind patience and practice! Automated Forex trading allows you to learn the ropes when you have the time to sit and watch it entering and exiting trades until you feel confident enough to start trading yourself, or, just stick to using the software...
An automated system is unaffected by the traders psychology. If you have ever tried trading Forex yourself you would know how much more difficult it is trading real money oppose to a demo account. Automated Forex trading removes these emotions completely and executes profitable trades without you having to do or stress about anything.
You can trade multiple systems at the same time. There are many different indicators and timeframes an automated Forex trading system can be programmed to use and not all of them use the same strategy. By using more than one system you can reduce or diversify your risk and boost your chanses of making decent profits.
Automated systems take the guess work out of the equation. Knowing when to buy, hold and when to sell is not always as easy as it may sound. Switching to or starting with an automated Forex trading system leaves you free to observe and learn while the software does all the thinking for you.
Today, many people are using automated Forex trading and many have seen very good results. However, I must point out to you that not all systems are created equal. Some have undergone rigorous back tests as well as live trading to ensure they do actually work! Below I have some links to 3 automated Forex trading systems that has been proven to work with great results...
Article Source: http://EzineArticles.com/5104214