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free expert advisor .pdf

Original filename: free expert advisor.pdf
Author: ritesh

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The Pros and Cons of Automated Trading Systems It's commonly
known that the future dynamics of prices can be predicted by
Lots of technical
technical analysis of the Forex robot market.
analysis theories and methods exist that can automatically be
coded and indeed used.
Whether you use your own or a borrowed
trading system (as long as it is profitable) you will be able to
build an automated trading system which is also called a robot or
Used in a trading terminal it can be built using a
programming language. Trading robots have their own advantages
and disadvantages which we will look at here and draw a logical
conclusion. The advantages of automated trading systems: The
Superior Speed
This is probably the greatest advantages of
automated trading systems.
Every program will have the ability to monitor anything up to
several dozen trading tools and makes decisions and performs
trades based on pre-coded instructions. This is not something
that a trader can do. Accuracy
A very important advantage over
humans. Forex expert advisor will simply carry out all trading
operations that are based on price that is programmed including
closing and opening positions. It also doesn't make mistakes in
trading volumes Period of performance
These programs have the
capacity to work for twenty-four hours per day or for as long as
required and an automated trading system will not miss the chance
of placing an order to trade.
The absence of emotion An undeniable advantage over traders.
Even trading professionals find their behaviour is affected by
psychological influences which is something that automated
trading systems do not do. The ability to modernise
automated trading system permits you to alter a program's code,
changing it for the continually moving market conditions and
differences within a trader's trading system. Any functions you
need can be added whenever necessary.
There are still disadvantages to using automated trading systems
and this is probably a reason that there is still manual trading
today. We can review them here: Difficulty in development When
you build an automated trading system you need to develop a
'manual' trading system as well as be coding specialist to then
build a trading robot. But having created your own 'manual'
trading system you referred to a programmer, there would be no
guarantee that they could create a program for you without any
mistakes Technical analysis only Many automated trading systems
have this disadvantage. Programs are not able to take into
account the influence of fundamental data on quotes dynamics on
the Forex market Absence of any emotion A disadvantage and an
advantage. An automated trading system does not use intuition or
emotion so can lose the entire balance of your account. It can
only behave as it has been coded to so even though common sense
would advise stopping it wouldn't.
Emergency situations Automated trading systems can't get on
the phone to your broker if you lose your internet connection to
cancel or place an order. A fault within the automated trading
system hardware will lead to inevitable losses.

Having examined all the pros and cons of automated trading
systems, we can draw the following conclusion: Traders are at a
considerable advantage when they use trading robots but automated
trading systems should be used with intelligence and be monitored
on a constant basis and modernise the systems.

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