There are many different software being developed lately to automate trading in Forex. They are able to trade currencies without needing a person to execute trades. Automated trading is a field that began emerging not long ago. Automated trading has number of advantages over manual trading. Such advantages for example are:
It is executed by computer. Today information technology and computer science are developed to a very high standards. Computer can perform thousand calculations while human performs only one. It work outs logical computations without error and stores memory at incredible speed.
Trading on autopilot takes emotions out of your trading. It will never make decisions driven by greed and fear. The software never hesitates to take a trade or close a position. All the trades are based on set rules and criteria that eliminate the human psychological errors.
Trading software can take trades day and night without weariness. It frees a trader from the necessity to be glued to his trading charts all the time. Once a successful trading system is developed and optimized into a trading robot it can be left to run independently.
On the other hand automated Forex trading robots have a major flaw. They do not have the "feel" for market as a human trader does. If trading software is making profit once market conditions change it may start loosing money. That kind of change can be perceived only by a human eye. For example if behavior of the currency pair was predominantly trending and a trading robot was making profit. Once that currency pair becomes mostly ranging trading robot will lose money in such market.
Here is my personal experience with automated Forex robots. In the beginning of my trading experience with them I was constantly failing. My equity curve looked like a trajectory of falling rock. The only problem for me was that over time those programs and Expert Advisors stop making profit as they did it before.
I tried different kinds of software and Expert Advisors. Finally found what I was looking for. I have posted my trading results with this one at Forex automatic robots. I gave more detailed overview as well as trading results on Metatrader platform.
Also I highly recommend you to visit Forex-Opportunity.info to learn more about automated Forex trading. At least sign up for a newsletter to get a comprehensive trading advice.
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