Autotrading simply wasn’t possible a few years ago. It speaks volumes that Forex trading has advanced to the point of completely automated trading in recent years. Since the arrival of online trading the innovations have been coming thick and fast; autotrading represents just the latest innovation in a long line of innovations that have helped to make Forex trading less tedious and more accessible for everyone. This growth has created a demand for both high quality brokers and high quality trading platforms that can handle a wide range of demands, e.g. Metatrader 4 and Unitrader.
Modern traders are very different from traders a generation ago; firstly they are more diverse coming from a wide range of countries and professional backgrounds. They may work from home, from a busy office, or a train; all they need to place orders is an internet connected device. Online trading has eliminated the need to contact a broker either to place orders or to hear how particular instruments are performing; traders are fully independent.
Autotrading is the pinnacle of that independence, even the traders don’t get involved! Just kidding of course, autotrading simply allows traders to eliminate the most tedious parts of their job, freeing them to concentrate on research, networking and analysis. The art of an autotrader is to anticipate which trades would be right in a hypothetical situation that they believe is likely to happen. For example if they think that the value of the Australian dollar is likely to fall significantly, they can simply configure their trading platform to respond accordingly, e.g. buy up a certain quality of gold, sell Australian dollars, etc.
Don’t worry if you think autotrading sounds complicated, any good broker will slowly walk you through the process from opening an account to setting up your first autotrades, just contact one today and get started.