Automated Forex Trading
If you use a 100% mechanical system you can literally put your computer doing all the work for you. An automated Forex system searches for trades, and places trades on your broker. So, if you feel comfortable with this kind of system, you just need to leave your computer turned on 24 hours a day, and he’ll be trading for you.
If you intend to use a 100% mechanical trading system to trade for you, you can develop one in a platform like MT4. MT4 is a great platform and allows you to build virtually any kind of trading system.
If you’re not a programmer, you can look for automated Forex systems. These systems can be back-tested, and trade for you. Usually, you can define the maximum amount you’re comfortable to risk, and the system trades accordingly with your instructions. When you have everything in place, you just need to leave your computer on, and he’ll do all the work.
Forex requires specific VPS Server with two main characteristic: bandwidth with constant speed and flow, and high up time.
Some of the most reputable mechanical systems on the market are Forex Autopilot System, Forex Autopilot and TrendFinder Forex System.
Best Hours to Trade Forex Manually
Since the Forex market is open 24 hours a day, a trader can’t track every single movement on the market. It’s crucial for a trader to know when he can expect high volatility, so that he can implement his strategy on the most effective way. If you’re trading using daily charts, the best period to analyze Forex is around 5pm EST because that’s the rollover period.
If you’re trading on shorter time frames, you must know when you can expect more volatility.
The most important Sessions on Forex are:
The Asian Session (7pm – 4am EST) – During this period, you can successfully day trade especially if you trade the yen. USD/JPY is a good choice if you plan to trade on this session. This period is not as volatile as the US session or the European session, but it’s possible to trade it and achieve a good performance;
The European Session (2am – 12pm EST) – This is one of the best periods to trade Forex. Since most of the dealing desks of large banks are located in London, the majority of major Forex transactions are completed during this session. During this period you can implement a successfully strategy on any currency pair.
The U.S. Session (8am – 5pm EST) – This is another great period to implement your forex strategies. Volatility is good, and you can expect good volatility on any currency pair.
The European and U.S sessions are the most important ones on Forex, so you can trade between 2am and 5 pm EST and get good intraday swings almost every single day.
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