Best Trading System

The FOREX system provides information to trader pertaining to set of rules and guidelines to determine opening of new position, what lot size to use, and the perfect time to exit the market. A trader needs a trading system that is well-defined with several number of rules which is easy to follow.

The automatic FOREX strategy is regarded as a trading system with well-defined rules that allows auto-pilot trading with out excessive emphasis on entry and exit details between trader and trade. The automated FOREX system may be successfully standardized and has great potentials in turning into a FOREX robot designed for automated FOREX trading.

MetaTrader underlines importance of expert advisers that you can use to trade automatically. Furthermore, by essentially understanding the MetaQuote’s MQL programming language, you could make and use it on the live account.

Two categories of system automation are identified. It can be fully automatic system that watches the market 24/7, will make decision to open and close position in the market with no human intervention as the other one is semi-automatic that means it would monitor the market at the same time gives responses to the trader. A system might be totally automatic meaning it would monitor the market 24/7, make choices to open or close positions, and really do it with out your intervention. A system can be semi-automatic which means it might keep track of the market and send alerts to a trader. Then trader analyses the market and chooses to open a position or stay away.

Checking if all the rules in your FOREX system is very easily formalized suggests that you have an best trading system. If yes, it can be simple to come up with a software using this system. Then again, if it won’t include that feature then work with it in the manual mode to make it work.

If you decide to create an expert adviser for MetaTrader, don’t forget to test it prior to using it with your live account. By using the Strategy Tester you can back-test your expert adviser on historical FOREX data.