The best automated Forex trading software now accounts for the majority of orders executed in Forex: in the US alone, about 70% of daily transactions are made by some of the top recommended Forex software
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What is automated trading software? Traders who are searching for the best automated trading software may already understand that there are two ways to trade:
Manual trading: when you manually open and close trades in your trading platform.
Automatic trading: when a software program analyses the market and places a trade based on predefined parameters.
Automated trading software is obviously used in the second case.
Tradesoft Crypto allows you to buy, sell, and earn cryptocurrencies, but you can quickly move between all trading platforms offered by Tradesoft companies. You can also trade equities, options, and futures with Tradesoft Securities.One of the primary advantages of Forex auto trader software is the removal of emotional and psychological influences when trading. An automated trading system for Forex makes your trading decisions consistent and unemotional, exploiting parameters you have pre-defined, or the default setting you have previously installed.
As with any tool, fully automated Forex trading software comes with disadvantages as well as benefits. Some of these include scams related to the sale of auto trading software, not understanding how to use auto trading software and the financial cost of using a professional coder.
When it comes to using the best automated trading software, there are both free and paid auto trading options available.
Free auto trading simply means you are programming your own automated trading software, rather than buying one of the currency trading programs available on the markets.
MetaTrader Supreme Edition is a tool for MetaTrader that has a range of exclusive indicators and Expert Advisors (or automated trading programs) that you can use to supercharge your trading.
For example, the free software trader EA Admiral Correlation Matrix calculates the correlations between several instruments and markets, giving you a clear picture of the correlated movements of the financial markets - and is 100% free.
Another example is the Admiral Donchian flag which has an alert to warn you of the breakout of a major price level. All free automatic Forex trading software is not intended to open positions - some only serve to send signals and alerts to the trader.
While there is a range of trading platforms that accommodate automated Forex trading, the world's most popular platform is MetaTrader. Both MetaTrader 4 and MetaTrader 5 offer traders access to a wide range of markets from a single platform, along with advanced charting functionality.