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If you are not succeeded in Forex trading, perhaps you have not considered automatic trading strategies. What differentiates automatic trading? The answer lies in a crucial word: automatic.
This means that it is not included by humans or affected by decisions based on psychology. In fact, automatic FX trading is a method to trade with currency pairs with the help of a computer program. That performs several analyzes to determine whether it should be bought or sold at a given time.
The software can also improve, as operators can teach you to make decisions based on a set of technical signals. The result of this method is enough reason to use automatic trading strategies in Forex and then we will delve into the subject.
4 key elements:
Our list consists of a description, input and output signals, application, and leverage. However, we want to emphasize that this list does not guarantee success or ensure that the strategy is profitable.
We all know the unpredictable nature of the market and it would be foolish to ignore it. The main objective of these 4 elements is to identify and implement an automatic Forex strategy.
The first thing you have to consider regarding automatic Forex strategies is their description. Your task is to find what the strategy represents and consider the logic that supports it.
It is useful to consider the following terms: objective gain, risk, stop loss, momentum, range, trend, and breakdown. You must be especially careful when reading descriptions of different strategies.
2. Input and output signals:
Many traders spend their time worrying about the input and output signals in automatic Forex strategies. Although it is important to understand the logic behind the strategy, we cannot overestimate individual operations.
In general, there are two market conditions that may have different variations: markets in trend and range.
These two conditions are mutually exclusive. When the market is trending, prices rise or fall steadily and reliably. In this case, you will see upward trends with new higher highs and higher lows, or downward trends with a series of lower highs and lower lows.
This is another factor that operators commonly forget. Many times, people expect too much from automatic trading strategies, so they use excessive leverage.
This usually occurs because they only take into account the positive aspects, while ignoring potential losses. If you want to make sure you are safe from these obstacles, then you must be careful with the leverage you use.