Sunday, 19 February 2012

Is Automated Currency Trading Deadly?

Many Forex currency traders have their own trading system. Some of them want to put their own proven trading system and continuously use their system to trade completely hands-off by using some automated trading software.
What will happen if there is 4 hours power failure and your script do not have stop loss programmed in it?
What happen to your order if broker don't accept it because of some reason?
It is not a good idea to put your trading system 100% automated and rely on the software to make money for you. Why? Because the software is brainless! No matter how perfect the automated trading software is, it can not acceptable from risk to reward ratio standpoint otherwise all of us already millionaire.
Anyway, automated currency trading software would benefit traders to certain level because it's not a wise practical to constantly stay in front of the computer. Not every trader can overcome the human weakness such as:
- Do not have a trading system and rules - Simply trade according to their will and loose money.
- Do not consistent to get the result - Lack of persistent because of the distraction from environment or people around.
- Can not control you emotions while trading and stick to the rules - It is a common mistakes of traders breaking the rules easily due to fear and greed.
Automated currency trading software will helps traders to solve all of these issues. You can not predict what will happen exactly like what you want while trading currency, just move on if you make a mistake no matter you are trading by your human nature or using the automated trading software. But do not 100% reply on the software and become the next victim in the market.
Find out the 5 reasons why you should start to learn Forex currency trading online now by visiting - a popular blog about how to become a millionaire in business and investment.

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