How does an automated forex trading system work?

[Evette Bobbi]

Might be nice if someone can simplify how it works. I am also looking for an automated forex trading system too.

[StockTrader6080]

Evette,

All Forex programs are different and from what I have seen, most do not give you 100% control or are very elementry. Like they only follow a few basic rules.

Whereas, the CoolTrade Robotic traders are all point and click (no programming) are do everything. I put in all of the criteria/rules to build the watch list of qualified stock (or symbol pairs for Forex), open position rules, add to position rules, exit rules, profit goals (like .50 a share or 4%) and the system finds the stocks that meet the conditions and does the trades, completely managing the positions 100% on it's own. It calculates everything, so it calculates the profit and loss targets and the target points for when to add to positions.

Nice thing is, it follows my rules 100% of the time. If I was trading manually, I could never follow so many stocks and rules. I would be violating rules all over the place. My traders are ruthless and force the market to come to me before a trade is made. They never lose their patience or their nerve.

It is also a perfect learning tool, because You can use strategies that are already created by other users. You can even see the free strategies on the website. No gimicks or pictures of speed boats. I say it is a great learning tool because all day it tells you the reason that it is not opening a position, like "Current Stock not above 20 Day Simple Moving Average". I am not aware of any other trading system that does so much and is so easy to use. No gimicks. As I understand it, CoolTrade automated TD AMERITRADE and Jim Cramer (Mad Money) at their request.

Keith

Goodbye Mutual Funds. Hello CoolTrade Robotic Stock and Forex Traders

[yanamk]

Automatic forex system is basically a software which follows a pre-programmed algorithm. It might work very well once the program is released to public, but as forex market changes the software no longer works (at least this is what I hear).

And, one more thing, nothing is 100%. If someone promises you 100%, especially in forex, you better run away as fast as you can!

You better of learning forex by yourself and trading manually.

[david1987]

Very well said jeffreycruz, It is just only a pre-written program which runs smoothly once comes in public section but as the forex move it does not work smoothly. its totally depends on the forex moment.

[crowy]

25 wins and 1 loss. With 235% gainers. Check this one out.- click here

[jason_simpson]

Automatic forex trading utilizes a software program to predict rises and falls in currency rates and make profitable trading decisions. The software also makes the trades for you. With a Forex trading system like this one, you simply start up the program and begin turning a profit with very little effort. Your auto Forex trading can continue working around the clock so trades happen when news breaks rather than when the market opens.

[ricky028]

I agree with you...

Originally Posted by yanamk

Automatic forex system is basically a software which follows a pre-programmed algorithm. It might work very well once the program is released to public, but as forex market changes the software no longer works (at least this is what I hear).

And, one more thing, nothing is 100%. If someone promises you 100%, especially in forex, you better run away as fast as you can!

You better of learning forex by yourself and trading manually.

Generally automated Forex trading is advertised as an easy way to make money with no effort but it's not true. The good news is anyone can do this and anyone can make money from Forex trading as it's a learned skill. If you do get the right education though, there is no industry which can give you such great gains as international currency trading for the effort you have to put in.

[hofster]

Automated forex trading systems (robots) are just a tool. Like any tool their success ultimately depends on the person using it. There are many people that make a ton of money from forex trading.


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