Trading with an automated system is not a new fad, and never is a trend that will go out in a few months either. Years ago, companies, such as Renaissance Technologies and Goldman Sachs used such technologies to help increase their bottom line. Instead of using rooms full of expert traders, which would cost the company money and potential human errors, these autopilot solutions would only need a few supercomputers and a couple of traders for maintenance.
These systems would prove to be highly successful. Goldman Sachs Global Alpha would net close to 400 billion in rock solid profits. Renaissance Technologies' Nova Fund system would end up building up to 10-15% of Nasdaq's trading volume on a given trading day. These systems cost millions of dollars to program the algorithms and implement them into a trading market, let alone the potential risks of having a machine trade.
Now, let's concentrate on the Forex Market for a second. The technology is also available in the foreign exchange market as well. The good thing here is, you do not have to spend Millions of dollars in order to acquire such technology. The following are Five, well explained reasons why you should consider an automated trading system:
1. An automated trading system would relieve you of doing hours of tiresome, annoying technical analysis. Unless you are really familiar with the progression of each currency pair, how it behaves in each scenario, and how to place a proper entry/exit point, you will not become an effective, nor profitable trader. An automated trading system does all of the above and even places the trade as well!.
2. Unlike a human trader, which needs sleep, salary, a social life, and has bills to pay and live life, the automated trading system just does 24 hours a day, 7 days a week what it is programmed to do, which is trade forex. Imagine such a system not needing to take a lunch or smoke break!
3. Very easy to install, no learning curve! There is no learning curve at all with most automated trading systems. All you have to do, is follow a few simple steps, which is probably a meager drag and drop operation through some Windows folders and you are ready to go! then just fire up Metatrader 4, and drop in the system to whatever currency pair the system is prescribed for!
4. No supervision needed! Yes! You do not have to hang out at the trading terminal or the computer you are trading from for hours on end. No more needing to give up your life, because you are in the pursuit of perpetual pip hunting, Let the system do it's job and you go have some fun time with your family, friends, go explore the fun side of life once again.
5. Most systems are purchased off of the internet, and only take a few minutes to download instantly! Combine this with reason #3, and within 10 minutes from purchase to implementation, you have a fully able trading system, ready to make some serious cash for you, and that 9-5 job you had to have, well you might as well forget about that!
Enjoy! I hope this helped you in making a decision in shaping your forex career! Trade on!