For those who might contemplate using forex trading but know little about automated trading, I would like to say that the system is run by robots. These robots run continuously for 24 hours per day.
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There are many software applications that work over the different markets; however those mostly used because of the profits that are generated are those that are designed for forex trading.
Apart from running 24 hours per day, I am asked are there any other benefits.
The main advantage is that this trading software can give you a trading edge due to their back testing.
Backtesting means testing a trading strategy on previous time periods instead of applying it to a future period, which is not a realistic option due to the massive time span of months or possibly years.
To know the effectiveness of a a particular strategy a trader could opt for carrying out a simulation of his trading strategy based on past data in order to assess the effectiveness.
Without relevant forex software many traders never check their trading system sufficiently, because it is very time consuming, whereas the trading robots make complete checks on backtesting to ensure that the trading rules and system are both profitable.
These automated trading robots also have the ability to execute deals at speeds which no human could do, which could be a massive advantage as time is of the essence in making the trade at the right time and to make a profit.
Where as humans need sleep and can't be on the computer all of the time, the robot never misses a minute.
For future forex trading made easy and in addition a legitimate online forex scheme that gives forex trading technical analysis I would recommend only profitable and proven ones.
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