Hi María here. I am glad to be here with you.
In the last days I had been talking about Automated Trading, because I had a chance to try out the new robot-PipJet-so I was thinking how much easier is to trade with an automated system. If you want more information about this scalping robot PipJet, that trades the USDCAD in the Asian session, please ENTER HERE.
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Final Step Toward Success-Automated Trading
“Effort only fully releases its reward after a person refuses to quit.” -Napoleon Hill
After devising a strategy from a trader’s granary of knowledge and experience. One final step is only needed for a trader to attain financial stability, Automatic Trading System.
It is a program code intended to apply the devised strategy in a manner that it would run the trade automatically. It is often used with Indicators and Expert Advisors to assist in performing the intended task. To create such system, skills in both trading and programming is required. A trader must first convert his strategy into a set of rules that the computer would understand. After doing so, the computer would run it through your trading software which would then seek trades that would fit to the rules.
Formulating the algorithm and its automation could really be a challenge and thus should be carefully tested to make necessary corrections. But once finished, the reward greatly compensates the author. It would provide a continuous source of money for a long time unless the market demands such changes. Like any other system, it also has 2 sides. The good and the bad one.
1. A trader doesn’t need to monitor all the time. It gives the trader the chance to concentrate and exert more effort in improving the strategy and money management rules.
2. The human factors are dispensed. The emotions and human error that lead us to abdicable results would be taken out of the formula.
3. Executions of orders are maximized since it would only need a signal to perform the task.
4. It provides more potential profit because it could run continuously.
5. The strategy would be strictly followed. Unlike humans, it wouldn’t hesitate its course.
6. The already gained profit is more secured
1. The loss may go out of hand if the algorithm is not properly coded and tested.
2. Certain rules are impossible to code thus making it difficult to create the automated system.
3. It is not flexible. Unlike an experience trader that may react once a perceived potential to profit is seen, this kind of system would strictly follow its course, thus losing the potential profit that could be gained.
If you’re wondering if all the troubles is worth it – I would definitely say yes. There maybe times wherein we may wear from trading but with this kind of system it would save us from the supposedly deficit in our profit. Plus the benefit of acquiring the leisure of time to spend in more important matters really gives a favorable vantage.
Written by Stephen Stevenson.
---PipJet is the new scalping robot from the creators of Megadroid (they sold over 40,000 copies just of this robot), it works in the Asian Session, mostly with the USDCAD pair. More about PIPJET ENTER HERE.
Have a nice day!
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