Make real bigMoney With Automated Forex Day Trading

In forex day trading, you need to be able to make decisions and follow through on them. While forex day trading can make you a lot of money fast, it is also one of the toughest skills to master as a forex trader.

When you are trading forex real time, it can cause your emotions to fluctuate along with the currency prices. Watching your account balance go up and down with every tick can cause many traders to quickly go into emotional overload and make rash decisions. This is an issue that many traders face not only when they day trade the forex markets, but also even when they are trading with End of Day systems.

 How Automated Forex Day Trading Systems Help FX Traders

The promise of automated forex day trading systems is removing these emotions from the trading equation. By entering your trading rules into automated forex software, you allow the software to take over the execution of orders. When it is time to buy, the software will enter a buy order. And when it is time to sell, the software will sell the currency for you. You no longer become involved in the actual execution of the trade orders.

However, with automated forex system trading, you still need to enter robust trading system rules into the software. This makes the automated forex trading software only as good as your trading rules. If you already have a good forex day trading system, you can use the very popular MetaTrader platform (MT4) to create automated currency trading expert advisors to trade your system rules. If you don't, then you can always purchase commercially available automated forex day trading software that have proven themselves to be consistently profitable in trading live real money accounts.
If you want to create your own automated forex day trading software, then you will have to learn how to write code in the MetaTrader language. But if this is not your cup of tea, then the other option is either to pay someone to create the expert advisor for you, or to buy one off the shelf.

Making Money With Automated Forex Day Trading Systems

The question to be answered is still whether automated forex day trading systems can really make you money. As I mentioned earlier, the key is in whether the trading system rules are profitable in the first place. This means you do need forex trading education to make the most of any automated forex day trading systems available (if you choose to purchase a commercially available system).
Robust Automated Forex Day Trading Systems Stand The Test of Time
There are very few automated forex day trading systems that stand the test of time. A lot of these systems are curve fitted or based on back-test data, which makes trading forward in real time a lot more challenging since foreign exchange markets tend to change over time. This means that worked in the past may not work as great in the present or future conditions.
To stay relevant, any automated forex day trading system that you purchase has to give you the ability to tweak the settings to match the present conditions. Otherwise, what you get is a system that is only good for the present until conditions change.
Why Good Brokers Are A Must with Automated Forex Day Trading
Another factor to consider in making money with Automated Forex Day Trading Systems is having a good broker that has great trade execution and low bid-offer spreads. Because day trading is usually very quick and for many small winning traders, having large spreads can take a huge chunk of money out of your profits. It can also cause your system to stay in a trade longer than it would have with a broker that has smaller spreads.
For example, if your profit target is 10 pips, and the spread is 5 pips, your trade would have to move 15 pips in your favor before you exit the trade. But if the spread is 8 pips, then your trade would have to move 18 pips in your favor for you to make 10 pips. In forex day trading, this extra difference in the spread can cause scalping systems to break down and suffer losses because your automated trading system didn't exit when it should have.

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Betting Forex

Summary: For the financial traders that are spread betting forex markets, there are countless opportunities. This page looks at some of them. Most readers will be aware that the currency markets are big. Really big! There are literally trillions traded every day. Liquidity is everywhere. Obviously, some parts of the forex market are more liquid than others, but the reality is that there is a lot of money on the move every second. Major currencies are traded in 'pairs' - for example the US$ and the British £. This particular pair is known as 'Cable' (sorry, no idea why...). It goes without saying, that the $/£ is much more liquid to trade than (for example) the British pound and the South African Rand. It is also worth remembering that foreign exchange markets are open nearly all week! There is a currency market open somewhere in the world almost all the time. This has its hazards - prices can move for or against you while you sleep! Years ago, your author read 'The Alchemy of Finance' by George Soros. While the book was a very tough read in places (probably not one for a relaxing beach vacation!) it did explain a lot about the way currency markets work and how they trend. The book is many years old now and forex markets have changed and are much more volatile - something the Mr Soros may like - but much of the basic analytical processes and ideas remain relevant.

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