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Thread: What is Automated trading and how does it work?

  1. #1
    Piplet
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    Cool What is Automated trading and how does it work?

    Hi Peeps,

    can someone please give me a briefing on Automated trading and how its works with FX open? I have only been live trading for a month and seems to be going well and would like to gather more knowledge on this matter.

    Also anyone know about Forex Robots? what is this? would any of you guys reccomend it?

    Many Thanks and i look forward to you guys replying.

    /farhan

  2. #2
    In Profit DollarBull's Avatar
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    Quote Originally Posted by fzia786 View Post
    Hi Peeps,

    can someone please give me a briefing on Automated trading and how its works with FX open? I have only been live trading for a month and seems to be going well and would like to gather more knowledge on this matter.

    Also anyone know about Forex Robots? what is this? would any of you guys reccomend it?

    Many Thanks and i look forward to you guys replying.

    /farhan
    Automated trading is done by a little program that gets activated at regular intervals (or ticks) and decides what to do, in the same manner how you will decide what to do.

    Say, if you want to buy EURUSD based on two green candles, you can program it, and let the program place the same order.

    When you click on "buy EURUSD" you are basically sending a command to the server. The same command can be sent by a program, since what goes along the wire out of your computer is independent of how the command was written.

    Automated trading is still mostly experimental and there are many other serious sideeffects. For example, if, for some strange reason, the server refuses to execute your "close position" command issued by a program, or the program crashes, then you have to manually close them. Thus, manual presence nearby is important or numerous other controls are required in the program.

    Automated Trading is for the advanced people - very advanced people - who know math, programming, trading, experienced in forex trading. You must use automated trading only when you know how to manually make profit. It is not true that automated trading can make money when you can't do it manually. It is your own logic, discipline and method that you program into the automated trading program.

  3. #3
    Moderator cool user Resolve's Avatar
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