Profitable trading is not an easy task. People tend to make trading errors due to their emotions and other human weaknesses. That's why new methods are being developed. One of them is called "Automated Trading". It is a way of trading using programs, software or robots without needing a human to execute the trades. Computer can beat a human at chess games. It can beat humans at Forex trading also.
Automated trading is not perfect yet and computers can not think as humans do. If trading software is programmed with untenable or non-logical trading strategy it will fail. However experience shows that high quality software can be used to trade currencies profitably.
Here is the latest fact about trading software: in the Automated Trading Championship 2008 that started 1st of October the top Expert Advisor by the time of writing of this article mad $54,074 in profit (championship.mql4.com) having initial $10,000 deposit in the trading account. This shows that automatic trading software does work.
The major problem with such trading software is that they are programmed for certain market conditions. They will stop working as soon as the currency behavior will change. It is obvious even in manual trading. A system that works in trending market will lose money in ranging market. That's why if you decide to try automated trading you need to constantly update your software.
How about commercially available trading software and Expert Advisors? I have tried many of them. So far I found only one that is being updated accordingly to the market conditions. That allows it to be profitable most of the time.
I was constantly failing in the beginning of my experience with that kind of software. 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 Opportunity. I gave more detailed overview as well as trading results on Metatrader platform.
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