The term Automatic Forex refers to the use of various auxiliary programs and scripts in exchange trading.
They allow you to solve several problems at once – they automate the process of exchange trading, speed up the opening or closing of positions, and allow traders with little experience to earn money.
If earlier this option of exchange trading was used only by large investment funds, now it is becoming more and more popular among ordinary investors.
Even earlier, the term “automatic forex” was used in relation to the operation when a large transaction was divided into several small ones.
For example, instead of an order for 800 lots, 8 orders with a volume of 10 lots each were placed. After the change in the organization of the trading process, the meaning of the term also changed.
Options for automatic forex used on the exchange
1. The main option for organizing the process are advisors (experts, trading robots) that are installed in the trader’s terminal.
The algorithm of the adviser is as follows – the program independently analyzes the trend and automatically opens forex orders when certain signals appear.
Then he controls the transaction process by means of stop loss and take profit orders . When the conditions specified in the script algorithm occur, the adviser closes the deal.
You can find variants of such programs on the page ” Forex Advisors “.
More advanced traders prefer to write advisers themselves using the application included in the trader’s terminal, using their own trading strategy as a basis.
2 . Recently, in addition to automatic forex advisors, a lot of other assistant programs have appeared, for example, Autochartist:
Quite an interesting option for automatic Forex, but unlike advisors, here you will have to make a decision to enter the market yourself, the program analyzes the market for the selected currency pair and gives entry signals.
The operation of the program is described in detail in the article ” Autochartist “.
3 . Trading platforms – in addition to advisors for algorithmic trading, several special trading platforms have been created. They have ready-made strategies and you just have to choose the trading option you like the most.
An excellent example of such a trading platform is R Trader from RoboForex broker :
Automatic Forex makes life of an ordinary trader much easier, now you don’t need to constantly spend time at the terminal waiting for an event, just enter it into the algorithm and the adviser will open a deal on its own or notify you with a signal about the event.
There are just a huge number of examples of such programs, there are expert advisors that work on gaps or use trend line breakouts as reference points. Almost all scripts receive signals to open automatic forex trades due to the use of technical analysis indicators in their work.