How to Get Started with Automated Trading

Automated trading is a recent development in the world of trading and could significantly help you increase the productivity of your trades. The use of a programme integrates rules without the need for the user to have a major input. Once these rules have been inputted into the system, the trades are carried out on an automatic basis. These days, automated trading can be applied in a number of markets including shares and Forex. It is simple for anyone to branch into automated trading – all you need is a PC, mobile device and a stable internet connection as well as some industry knowledge to get you started

What are the benefits of automatic trading you may ask? We have listed just a few below to be aware of:

  • You have the independence to create a trading schedule that fits around your commitments.
  • Reduces stress associated with manual trading
  • Distinguish new prospects thanks to market trend information
  • Implement real-time trades to prevent missing opportunities at any time of the day 

Platforms to use for Automated Trading

All traders make use of automated trading with specialised software, which is designed to use algorithms to examine market trends and predictions. Some of the most common tools to be aware of for automated trading include but are not limited to –

  • ProRealTime
  • MetaTrader 4
  • APIs

When using these platforms, individuals ultimately take control of their own trades, by inputting data which manages entry, exit and finances. Once certain criteria has been met, trading is carried out on your behalf automatically.

Establishing trading rules

Some trading platforms allow you to build your own strategy with the use of ‘wizards’ in which you select technical gauges that become your personal set of rules to execute automatic trades. There are also limits which can be put in place in terms of markets and money management.

Some investors are, however, keen to collaborate with program developers for customisation purposes of software. Although this may take a great deal more time and effort, it can in fact be extremely beneficial by allowing greater flexibility and generous rewards.

Once the strategies have been created, the system will observe markets and find opportunities based on the rules you have set. As the market moves at a rapid pace, having this platform to manage trading for you could prevent you from making substantial losses.

Using automated systems While the term ‘automation’ may seem easy and totally hassle-free, you may need to ask yourself whether it is the right option for you is. It can be viewed as a technique to make money without much effort, but it takes a great deal of time to make a substantial profit. If you don’t have relevant experience in this field, your luck may swing the other way, therefore,  research and exploring spread betting options beforehand would be an idea; This may include keeping your goals and ambitions straight-forward as a newbie before taking on more sophisticated targets.

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