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Top 5 Automated Trading Software

This is the complete guide where you will get to know about automated trading software and the pros and cons of it. You will also come to know about the top software.

What is Automated Trading Software?

This helper of traders use to keep an eye on the entry and exit in the trading market and also make rules for money management and trades are automatic flows in it.

This is best for trading as the computer monitors and exchanges the trades automatically and just wants little input by a user as some rules are set by the user only. It works on a preset structure because human beings cannot be available all the time to put their eyes on the trade market as it goes up and down unpredictability.

What is Automated Trading Software?

Benefits of Automated Trading Software

  1. Removes predictions

When a trader uses the traditional trading method then, sometimes they depend on their feeling that it may happen and takes steps according to emotions. It may cause them a big loss as the market doesn’t follow emotions always. So an automated investment tracking software, which works only on standard algorithms, can help you reduce the market uncertainty and make informed trading decisions.

  1. Perfect strategy

It gives you a demo by encouraging you to put your strategy first and then only the real money and this will help you out in understanding the expectations of the system by testing the mock data first.

  1. High speed

Speed is the most important factor in trading because the market goes high and low within seconds so this will help you to generate orders at the same time when market conditions meet.

  1. Good profits

If you are an experienced player then Automated software makes your task even more efficient and it never lets you demotivate due to past failure.

  1. Amazing diversity

You can use multiple accounts for trading while using Automated Trading Software and can make multiple strategies at a time.

Drawbacks of Automated Trading Software

  1. Over optimizing

When optimized more than required it is not called a good trading method sometimes because live trading does not require it and hence it will completely fail in live trading.

  1. Needs update

As the market condition changes day by day so the software also needs updating in it because you are totally depending on it for your trades so may or may not be possible that the update comes at the right time.

  1. Requires monitoring

It is not like that you just opened Automated Trading Software and relax because you think everything is done by it but sometimes connectivity issues occur and computer crashes as well which may cause obstacles.

Top 5 Automated Trading Software

  1. MetaTrader 4

It is the most popular and effective trading platform proven by its unique features and best results. This platform allows you to integrate into any brokerage account instead of forcing you to open a new one.

There is MetaTrader 5 also present but can only use the language MQL5 in it, so that is why most people stick to MetaTrader 4 which has robots with strategies inbuilt in it.

  1. eOption

It was developed in 2007 and is the most important software if you want to invest a low amount for trading and have lower commissions if it uses less amount for contract.

It is one of the best software because zero programming knowledge is required in it and you just have to choose a newsletter for Automated trading and this will make your task easier.

  1. Interactive brokers

This one is best for the experienced players as they know exactly how to properly utilize this software. They allow users to build a system using programming languages like java and python.

  1. Algo trader software

This software is known for its amazing features and allowed bitcoin to do automation in the forex and trade market.

It is a technology that includes code architecture based on the Esper framework and its popular version is 4.0 in the present time. It has the quality to support multiple currencies and can automatically convert them into each other.

  1. Option robot Automated software

This automation software builds trade signals and exchange trades to your linked account. It consists of three money management systems which you can set according to your requirements and investment.

The first system is the classic system which is considered the safest system in the trading market for your stocks. The second system is the martingale system which is known for its faster profitable quality but as the profits are high, the risk scale is also high. The third system is the Fibonacci system which represents the accuracy where your trade size can change according to winning or losing arrangement.

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