Benefits of Automated Trading over Human Forex Trading
Nowadays, there is a lot of discussion about Automated Trading and Human Forex Trading. One of the main things that have triggered this discussion is the flood of automated trading softwares that have arrived into the marketplace. There are thousands of Forex trading software out there and Trade Unity is one of them. Forex traders are always debating as to which trading method is better.
Below are the advantages of using an Automated Trading System over Human Forex Trading.
Operates on the Basis of Rules
An Automated Software, unlike humans, will never be misguided by emotions and remain unaffected by the trader’s psychology. Trades are executed automatically once the trade rules are met no matter what’s the market condition. As humans, we are basically emotional beings and we get emotional on suddenly losing a trade which might have an affect on our performance. Automated Trading helps to build confidence and discards the effects of emotions and psychological issues from affecting trade decisions.
Monitoring Markets
Monitoring markets 24 hours a day is practically impossible for a human being. Most of the people don’t have time for trading because of their busy schedules. With the automated trading software, you don’t have to worry about this aspect, as the trading software can take trades day and night. It monitors the markets for you every second without any intervention. It gives you the power to monitor dozens of forex pairs at once with the ability to identify and react to trading opportunities immediately. This is a great way of saving time.
Identify the Opportunities Faster
A Trading software executes trades in a fraction of seconds and profits from sudden market movements. The speed of the computer is used to monitor the markets and identify the trading opportunities based on coded rules and execute based on these rules in a fraction of seconds. When a position is entered, all the other orders get automatically generated which includes the losses and profit targets. With a Trading software, you will find yourself never running out of trading opportunities.
Carrying out the Trading Plan
Sticking to a trading plan makes the difference between a profitable trader and an unprofitable trainer. An automated trading software will completely stick to the plan no matter what the markets conditions are. It will stick to the plan without exceptions. With Human Forex Trading this is not possible as there will always be a risk of deviation. A Trading Software is an expert when it comes to this matter.
Error Free Trade
Human beings are erroneous by nature. If you do trade yourself then errors are bound to occur sooner or later. But with a trading software, you can be rest assured as it will execute trade correctly. It will not commit any of the silly errors which might result in huge losses.
Conclusion
Above mentioned are the benefits of using an Automated Trading Software over Human Forex Trading. However, there are some other benefits also which you will experience when you start using a trading software for your trade.
