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The use of automated trading systems in forex trading
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[QUOTE="Knowlopedia, post: 303740, member: 91868"] Automated trading systems, also known as algorithmic trading or mechanical trading systems, are computer programs that use complex algorithms to enter and exit trades in the foreign exchange (forex) market. Automated forex trading systems allow traders to take advantage of opportunities in the markets without having to constantly monitor their positions. These automated forex strategies can be used by both novice and experienced traders alike, providing a convenient way for them to trade without having to manually analyze each position they open or close. The main benefit of using an automated system is that it eliminates human emotion from the equation when making decisions about which trades should be opened or closed. By relying on a set of predetermined rules and parameters, these programs can make decisions based solely on market conditions rather than emotional reactions such as fear or greed. This helps ensure that all trades are entered with discipline and consistency – something that is essential for successful long-term currency trading success. Another advantage of using an automated system is its ability to backtest different strategies against historical data before executing live orders in real time markets. Backtesting allows users to evaluate how well their strategy would have performed under certain conditions over a specific period of time so they can refine it if necessary before putting it into action with real money at risk. Additionally, many platforms offer demo accounts where users can practice their strategies without risking any capital until they feel comfortable enough moving forward with live orders in the real world environment Overall, automated forex trading systems provide numerous benefits for those looking for ways to increase efficiency while reducing risk when participating in currency markets around the world [/QUOTE]
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The use of automated trading systems in forex trading
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