Heather McLean
Heather McLean

Automated FX Systems: winning space on crowded desktops

Over the last few years we have witnessed explosive growth in automated forex trading, for the obvious advantages it offers over manual trading, including overriding emotional factors and trading strategy consistency. Heather McLean talks to some of the leading providers of these automated FX solutions to see what’s on offer and how traders can avoid some of the pitfalls.

Rise of automated trading Auto trading has gained in favour over the last few years for many reasons, not all of which are obvious, James Green, managing director and chief compliance officer at FXDD, notes. Having the ability to manage one’s account, rather than having to trade one’s account, provides psychological support to those whose time or interest prevents them from learning how to read the structure of a market on their own, he notes.“Thus the availability of Expert Advisors and other assorted algorithms has provided a boom to third parties and made market participation more readily available,” comments Green. “Whether the algorithms or Expert Advisors provide the hoped for profit is another question. Some of the more interesting innovations with automated software include sophisticated programmes that permit traders to assess signals on a more detailed basis, similar to the multiple data point criteria that a manager would use in determining which trader should be...continued

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