

There are generally 2 different types of Forex trading software. The first type that I prefer are completely automated. These robots, otherwise known as Expert Advisors, process and analyze information from the market automatically. Once it finds a trading opportunity, it will automatically place a trade and monitor it. When the take profit target or stop loss level is met, the software will sell the position automatically.
Another type of Forex program is a signal generating software. This type of program will also do analysis of the currencies market for their trader, and generates signals to buy or sell when the time is right. The difference is that the trader will still have to find ways to manually conduct the trade or contact his or her broker and arrange for the trade to be executed.
2. Can You Really Rely 100% on an Automatic Software Forex Trading?
Making money completely automated is possible when you have the right tools. But my personal advice is that all traders should still at least have a basic fundamental understanding of how currencies interact with each other. This allows them to understand what their robot is doing at all times and how it is approaching the market.
Source : Articlesbase.com
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