Workings with Forex Automated Systems January 1, 2017 So, you decided to get into Forex trading but can’t seem to make up your mind on what to do and how to do it. One option could be for you to spend endless nights reading books and online finance journals on the nuances of trading in Forex. The other, an easier option could be to simply shift the burden off your shoulders and trust technology to do everything for you. Before you get into the details, you need to know that there are two system types – Automated systems and Semi-Automated systems. Automated Systems– This involves an initial installation of the main software on your trading platform and you are ready. These systems will completely eliminate physical trading for you and will make everything automated. They are usually based on a mathematical algorithm, which places trades for you and also tells you the best time to enter or exit the market. The algorithm is usually protected and not revealed. Forex automated systems usually come with a guarantee that money will be returned if you are not satisfied. Semi – Automated Systems – These systems, on the other hand, simply act as advisors. They will give you the information of queries like the best currency combination you could invest in or the best market conditions for a particular currency and the like. Instead of automatically placing your trades for you, this system will always ask for a prompt or alert you. These systems are best suited for the following platforms – MT4 or MetaTrader4 Web MT4 Mobile Platform MT4 is the most popular amongst these as all brokers use it and almost all systems are compatible with the platform. However, there are some points you must keep in mind before you get into the actual game. Create a demo account and test your system on it to get the practical issues and doubts cleared beforehand. These days, many online systems are available which create an environment that seems pretty real. You can start off with such systems because they copy the real conditions exactly as they are and give you as much experience as such systems can. They prepare you for the actual trading and even instill some confidence in you regarding your abilities and gut instinct. Ultimately, you must remember that technology can only take you so far and if trading was so easy, everyone would have made a profit and there would have been no losses. Your motto must be to try and minimize your losses and balance your risk and returns. There will be times when your Automated or Expert systems will cause you losses but that is how Forex trading works.