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Automatic FOREX System

FOREX system is a set of rules trader uses in order to determine when to open a latest trading position, dimensions of the lot to choose, and the best time to withdraw the market.

The automated FOREX system is considered to be a trading system with well-defined rules that enables auto-pilot trading with out excessive focus on entry and exit points between trader and trade. The automatic FOREX system may be successfully standardised and has great potentials in turning into a FOREX robot made for automated FOREX trading.

MetaTrader underlines importance of expert advisers that you can use to trade automatically. Furthermore, by basically understanding the MetaQuote’s MQL programming language, you can create and use it on the live account.

There are 2 kinds of automation. A completely automatic system will work without your interference, 24 hours a day, and decides if you should open or close positions available. There are also signal systems, in which the program won’t “do it for you”, but just will give you an alert. This paves way to the trader to evaluate the market situation and decide if they should open a position or steer clear. When the trader decided to open a position, what the semi-automatic system does is that it monitors it and closes it when there is a need to. Additionally, it is maintained using the well-defined guidelines.

Checking if all of the rules inside your FOREX system is very easily formalized indicates that you own an automatic forex system. If so, it will probably be easy to create a automatic robot from this system. Otherwise, you better work with it in the manual mode as usual.

After deciding to create an expert adviser for MetaTrader proceed to testing just before utilizing it in your live account. By using the Strategy Tester you can back-test your expert adviser on historical FOREX data.

You found out about automatic trading strategies and their different types, you can now obtain a lot more details about trading on FOREX here:

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