For a fee, the automated trading system can search, execute, and monitor trades, and all orders reside on the server. Traders have the option of running their automated trading systems through a server-based trading platform. These platforms usually offer commercial sales strategies so that merchants can design their own systems or the possibility of hosting existing systems on the server-based platform. This often results in potentially faster and more reliable order entries.
Since many people who start trading tend to have limited knowledge of the trading process or financial markets, the popularity of these systems is not surprising. The following figure shows an example of an automated strategy that triggered three trades during a trading session. The rules for entering and exiting trades can be based on simple conditions, such as a crossing of moving averages, or they can be complicated strategies that require a comprehensive understanding of the programming language specific to the user's trading platform. When choosing the best automated trading software, it's important not to forget that even the best automatic trading software can do all the work without any risk.
However, losses can be psychologically traumatic, so a trader who has two or three losing trades in a row could decide to skip the next trade. Buying robot trading software gives you quick access to automated currency trading, while creating your own robot trading software allows you to customize your robot to your specific preferences. TradeStation is known as a broker for high-volume professional traders, and its virtual platform offers all the features of its real trading platform. The user could establish, for example, that a trade in a long position will be entered once the 50-day moving average crosses above the 200-day moving average on a five-minute chart of a particular trading instrument.
Most traders should expect a learning curve when using automated trading systems, and it's generally a good idea to start with small trades while refining the process. Traders who choose Admirals will be happy to know that they can trade risk-free with a FREE demo account. With such a wide selection of robots and automatic trading EAs, MT4's automatic trading is likely to offer something for every type of trader. If you're designing your own game, you can determine if players can trade stocks on margin or sell short, how long the game lasts and with what virtual money players start the game.
Automatic trading software can be a valuable instrument for a trader, however, most robots only operate within a certain range. While attractive for a variety of reasons, automated trading systems should not be considered a substitute for a carefully executed trade. It's common for traders to use many different trading tools: a terminal for price analysis, another terminal from their broker for making trades, and a separate program for performing trend analysis.