Trading with Forex Automated Robot (or Expert Advisor)

Forex automated robot trading is gaining widespread use because of the convenience and fast profits it provides to the trader who wants to shield himself from the intricacies and hassles of manual trading.

Forex trading is a complicated and sometimes perplexing task even to veterans; not to mention the Forex greenthumbs still learning the ropes of going long and short on a currency pair.

For those who have already made money trading the dollar, yen, or euro, it is a very rewarding endeavor, especially in the area of margin trading. Traders have the flexibility to exchange currencies even without the full sum of trading money put up front. You only have to put up a small amount of capital to secure a larger package of trading money (called a currency lot), and then trade that lot according to the amount of leverage you have.

However, to clear things up, automated Forex trading is not a “get-rich-quick” scheme. Others might misinterpret it as such, for various marketing activities make it resemble a program for getting quick money without having to pour out the intense efforts normally required in a typical 9-5 job.

Let’s face it, we are all skeptical to these money-grabbing schemes.

So, what exactly  automated robot trading for Forex? What makes it different from the hundreds of “get-rich-quick” schemes out there?

Well, Forex trading is undoubtedly profitable but profoundly complex if one has not completely understood the basics. Enlightened brokers, traders, and computer experts who have moved past that stage have developed a system which automates trading activities.

The resulting robot basically leaves you free to attend to other important activities, all the while automatically executing your currency trading strategy, gathering trading data, executing buys and sells, and gathering pips (a direct measure of profitability) along the way.

There are two general kinds of robots:

1)    Managed Automation. Although the automated system can run without your help, you will have to interfere and manage the tasks and schemes that you have set-up in order to make sure your trading is successful or is going as planned. Obviously, the planning is up to you, but managed trading robots usually execute the actual buy and sell, rather than a team of brokers.

2)    Programmed Automation. This requires a little systems programming intelligence on the side of a trader. Some automated trading platforms are completely customizable, down to the last segment of code, while others will only allow you to select a configuration system or parameters that directly suit your trading needs.

There are many advantages to this style of currency trading.

Obviously, automation is the main advantage of this human-robot duo trading set-up. In Forex automated robot trading, you can gauge your own settings, tell your robot to trade this and that way, and the automated system will do it for you. It also fits well with the nature of currency trading, which is a 24/7 operation. The robot will be able to make the trades for you, freeing your time up for activities that require your individed attention.