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Auto Forex – What Is It?

Auto Forex - What Is It?

Auto Forex trading is one where buying and selling orders are placed automatically based on an underlying system or program in the currency market. The purchase or sale orders are sent to be executed in the market when a particular set of criteria is met.

Auto trading systems or programs to make buying and selling signals, are generally used by active traders to get in and out of positions more often than the average investor. The auto trade criteria are very different, however, are mainly based on technical analysis.

Forex Autotrading systems started from the date of the emergence of retail sales online, around 1999, when Internet-based companies created platforms to sell foreign exchange that provide a quick way for people to buy and sell in the spot currency market. However, large retailers could negotiate currency contracts on the Chicago Mercantile Exchange and in the 1970’s.

There are two main types of Forex auto trading :

– Fully automatic operations or robotic operations: This is very similar to the algorithmic trading and black box trading, a computer algorithm deceids on aspects of the order such as date, price or quantity and starts the order automatically. Users can only intervene to adjust the technical parameters of the program; all others signals related to market conditions are delivered through the program.

– Autotrading Forex signals: This mode is based on autotrading executing orders manually generated by a trading system. For example, a typical approach is to use a service where traders from around the world have their strategies available to anyone interested in using the signals. Operators can choose to manually run any of these signals in their own broker accounts.

Advantage;

– An automated trading environment can generate more market operations than a human operator can handle and can replicate their actions in multiple markets and timeframes. An automated system is also not affected by the psychological emotions of the human operators. This is particularly relevant when dealing with a mechanical model, which is usually developed on the assumption that all trade marked entries will actually trade in real time.

– Model-based signal provider to offer merchants the opportunity to follow the signal providers strategies that had worked well in the hope that the advice they offer will remain accurate and lead to future profits. Merchants do not need technical knowledge or the ability to define their own strategies and instead they can choose a system based on its performance up to that date, so Forex trading would be accessible to a large number of people.

Disadvantages;

– In a decentralized market and relatively unregulated, people can fall prey to a number of forex scams. Forex Autotrading, as it brings foreign exchange transactions of the masses makes people more susceptible to fraud. Organizations like the National Futures Association and the Securities and Exchange Commission U.S. have issued warnings and rules to prevent fraudulent conduct of foreign exchange transactions.

Day Trading Robot

A day trading robot? Gee Wiz! Sounds like science fiction, right? It did to me just a few years ago. I would have never imagined that such a thing was possible. First of all, I came from a school of thought that believed nothing could be programmed to trade the markets successfully. I strongly believed this and argued with anyone that crossed my path. “No automated day trading system could tackle the stock market; impossible!” or so I thought. I also said to myself, “How could a computer program successfully factor fear and greed [the emotions that move the market] into an equation designed to extract consistent short-term profits from the market each and every day?” Well…,

…the bad news is that there really isn’t a robot to day trade stocks. Sorry to burst your bubble.

But…the good news is that there is one that day trades currencies (you know, the great forex market that I love and have bored you over and over with throughout this website?).

No folks; this is not “Forex Made Easy.” This is “Forex Made Easier”- An automated day trading system that NOT ONLY comes with a highly sophisticated set of conditions to enter and exit the market, but one that also pulls the trigger (that is, executes the trades) for you, using proper money management without which day trading is doomed to failure. [If you have not read why I strongly believe that the forex (short for foreign exchange) market is the purest and best market to day trade in the world, go to the currency trading section of this website]. This automated system is also known as Forex Robot or FX Bot (for frequently asked questions about the trading robot, click here).

Yes day trading fans. This day trading robot (or bot) not only finds the trades, it takes advantage of them when it finds them.

When the forex trading robot was presented to me for the first time, it was difficult for me to accept the whole concept. I got to admit, I was pretty skeptical. If the explanation wouldn’t have come from the best two money managers and traders I know (and personal friends of mine), I wouldn’t have even listened. But after a while, I was sold. “You, Dan? Mr. Day Trading Tutor?” – “Telling us that you believe in a day trading robot after writing an endless amount of information about how people could learn how to day trade, how much you believe in day trading, how you have helped day traders in the past, etc., etc.?”

Whoa, whoa!!! People, don’t get so exited. All of these things are still true. There are people that will learn how to day trade successfully and become successful traders. I am still involved on a very limited basis on the training of some day traders. But there are also many people out there that will never succeed as day traders and others that, after having tried it, will realize that it is not for them.

This is the truth; plain and simple. And even if the day trading robot wouldn’t have existed, this would have still been reality. The FX robot is just something extra that I feel can help not just unsuccessful traders, but also investors who can add something different (a new component) to their investment portfolios; and believe me, this is completely different than any investment I have ever seen before.

I created Day Trading Tutor to give you the reality of trading. Well, talking about the trading Bot is an extension of this goal. Since it exists and can help you, I must tell you about it – period!

Ladies and gentlemen; I am sorry if I sound really exited about this trading Bot thing – so exited it made me that I even became part of it in order to be able to offer it to my clients, friends, and family members (read “How are you involved in the day trading Bot and are you doing it just for the money?” below. I like to be very clear about the things I say. It makes me sleep peacefully at night. The thing is that I haven’t been part of a great project like this for a long, long time. The money managers and traders that designed and monitor the day trading robot on a daily basis have become personal friends of mine in the last few years. They are great guys and exceptional traders. They have been top-ranked in the past in the forex money management industry. I don’t like recommending traders or money managers to people, but this is an exception.

The robot program rocks!

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