copiers claim more than a 95 percent winning rate. Even then, the most viable programs provide a certiﬁed trading history to reveal the effectiveness of the trading system. However, proﬁtable proﬁt/loss statements do not guarantee future results with any given system.
WORKING WITH AN ADJUSTABLE TRADING STRATEGY
This method of automated trading is more difﬁcult than just copying a third party trading system. Traders who are looking for a trading system that works efﬁciently but can be improved upon will typically gravitate towards this method. Sometimes, a strategy might have great entry logic but a trader might want to change stop-limit levels used in a speciﬁc strategy. At other times, a trader may also opt to change the moving average to a level that they are more at ease with. A lot of public strategies are customizable from the sub-account, allowing the trader to adjust features such as currency pairs, stop-limit levels, indicator settings, among other parameters. It is recommended to backtest third party strategies for optimal results. Well-known automated trading programs are compatible with all major currencies. The pairs that demonstrate the greatest liquidity include USD/JPY, USD/EUR, USD/ GBP and USD/CHF. Regardless of the currency pairs utilized, trading strategies differ greatly ranging from risk-averse systems that are designed to scalp a couple of points, to more risk-prone strategies. Traders can adjust the baseline strategies and keep those that work for them.Whether you use a fully third-party system or a customizable program, your needs as a trader is an important consideration. Needs such as ease of use, programmability, functionality, and speed are essential considerations. Intermediate or advanced traders may prefer a system that features market speciﬁc orders, trailing stops etc. On the other hand, beginner traders may only require an easy to use program that they can just plug in and play without much input from the operator.
ESTABLISHING YOUR OWN AUTOMATED TRADING SYSTEM
A commendable way to leverage your own winning strategy is to automate it so you can apply it around the clock on all similar trades. Obviously, creating a trading system from scratch is difﬁcult and time-consuming but if your system is able to generate proﬁts, then the resources spent will be offset. A good number of traders often use the services of a programmer to create an automated trading system that automatically trades for them. When creating your own automated trading system, it is recommendable to factor in the issue of remote accessibility. Traders who travel frequently should work with a program that permits easy functionality and access from any location. Web-based systems are ideally suited for roaming traders. Virtual Private Server hosting provides super fast access to the program and isolates the trading system for security purposes. Social trading networks or signals copiers can be organized within the bounds of a single Forex broker or be multi-broker. Realization of copying within the bounds of a single broker is done on a server-based or manager-based API. The advantages of such copying are high copying speed and absence of necessity to keep a trading platform launched. The only shortcoming is limitedness of a system by a single broker. Multi-broker copying can be organized on Forex expert advisors or scripts. There are several things to pay attention to when choosing a
New models and methodologies
A U T O M A T E D F X T R A D I N G
A good number of traders often use the services of a programmer to create an automated trading system that automatically trades for them.