Thread: Trading with autotrade or forex signals

Now a lot of websites that provide forex signals as a means to buy or sell entry for traders. Forex Signal Forex signals is a reference point where they give a signal to enter the Buy/Sell trading position for a currency pair. they give away free forex trading signals for some major pairing as EURUSD, GBPUSD, AUDUSD coupled with one pair XAUUSD GOLD that is his daily based on the analysis of whether it is based on technical and fundamental that they will enter into a trading position and will provide such information via email

some of this is the fore signal provider: MT5, forexsignal88, and others

In addition there are AutoTrade forex signals. Autotrade by ' myfxbook ' is the latest social trading software designed to facilitate the user community with their trading decisions. Traders who haven't experienced too can follow these experienced traders, trading will be rewarded up to a half pip per traded lot.

Advantages:

• Copy the direct signal from the exclusive group of traders
• Professional trade with just a few clicks
• AutoTrade signals providers system has a rigorous selection process based on real account statistics
• Get the exact statistics for fast analysis and improving your performance
• Trade with absolute transparency and full control
• Manage all trade using a single interface
• Do trade some programs with just one login

TenkoFx Broker also provides the base for this. TO SIGN UP FOR AUTOTRADE JUST FOLLOW THESE EASY STEPS:

• LOG IN OR REGISTER AT TENKO'FX, IF YOU DON'T ALREADY HAVE THE ID TENKO'DESK
• (MT4) OPEN STANDARD and TYPE of TRADING ACCOUNTS with DEPOSIT 1000 USD or more
• CONNECT YOUR TENKO'FX ACCOUNT TO AUTOTRADE ' MYFXBOOK '

So what do you think about this ?

I dont prefer auto trading as it a bit risky and you cant fully depend on it, signals are better only if you find some good signal providers.

Trader it should use its own analysis in trading. but the trading signals from professional traders can be used as a lesson on how to analyze the market

Forex very profitable business especially for traders who have high experience in the forex business. For a beginner should learn in order to achieve a profit. in addition, traders can now use the system copy traders trading with possession of experience and high skill. In my broker now, trader can use the facilities of MYfxbook Autotrade . These facilities help traders can trade alongside the already well-known trader.

I don’t like any of these cases and the reason is very simple which is that I am a newbie, so if I start learning from now then few years I will become good at trading and could make earning myself but if I just get dependent on these software’s too early then it’s finish career for me. I love to use analysis while trading from OctaFX broker since it is deadly accurate with resulting above 80% but that is where I also know the logic but just blindly following it.

Originally Posted by Uncle Gober

Forex very profitable business especially for traders who have high experience in the forex business. For a beginner should learn in order to achieve a profit. in addition, traders can now use the system copy traders trading with possession of experience and high skill. In my broker now, trader can use the facilities of MYfxbook Autotrade . These facilities help traders can trade alongside the already well-known trader.

Yes, This auto trade facilities has a same with my broker ( TenkoFx ). but for using this method we must have deeply knowledge about forex trading and try to make own analysis and finding trader who has a great skill. i think this easy to see them in the list

Trading based on forex signals is much more predictable than automated trading, but in order to utilize both the methods you have to be very knowledgeable about trading.

knowledge and patience are the most important thing in Forex trading,knowledge is the key to success,the more knowledge gives a trader more success and patience makes a trader strong in making his trading decisions and both factors really help a trader in earning more profits.

As far as my opinion is concern, I don't think so Auto trade is a good idea, in my opinion it is too risky and if a trader is investing his money in the market then he need to be aware of the fact that he is the best one to understand different dynamics of the market and market analysis, so he need to trade himself as compare to auto trade.

The trader has its own options trading system that will be developed. Trading with the signal or use the analysis itself has its own risks. For that Autotrading can be one alternative to trade by using the services of experienced traders