You may have searched for a shortcut to Forex trading if you’re new and completely unfamiliar with the fxcm markets. This is because 90% of novice Forex traders will blow their account within just a few weeks, because they do not have a trading system that has been proven. Beginners are competing with experienced traders who work for hedge funds and banks around the globe. If you do not have a competitive edge, then you’ll lose. You can gain an advantage in trading by using automated Forex trading.
How Automated Trading in Forex Benefits Beginners 1: It is Consistent
Consistency is one of Forex trading’s biggest challenges for beginners. While anyone can make a successful trade or day-trade, it takes years for a professional to develop the necessary discipline to consistently earn profits from trading Forex. The art of making the right trades day after day is not an easy task. However, automated Forex trading allows you to program the rules and everything will be consistent. Your system will be able to replicate its performance if it makes money for a period of time.
How Automated Trading in Forex Benefits Beginners 2: It is Dependable
A second problem for beginner Forex traders comes from emotional trading, which leads them to deviate from their plan. Automated trading systems are completely emotionless, in contrast to human traders. It will always follow the pre-programmed trading rules whether the trader is winning big or having a losing streak. You can now remove yourself from this equation, and use objective analysis to improve and optimize the trading system.
Benefits of Automated Trading for Beginners 3: Automated
Well, duh! A system that is fully automated should be. This means that your system will do all of the hard work, so you are free to enjoy yourself. This means that you will not be confined to the computer while at home or in bed, nor worry about lost profits. The biggest advantage of an automated Forex trading program is that it works just as if you had your own Forex trader working for you (except without the salary and other benefits).