Using Trading Automation

Time is a limited resource, but it’s a limited resource that has a completely even playing field. Every single person in the world has the same number of hours in the day. Those that are able to use that time the best often see advantages. A lack of time should not limit you from making money trading in the markets. There are plenty of people that spend less time trading that make more money than you. There’s no reason why you can’t use your limited time to make a lot of money, too.
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When You’re on the Move

If you’re like most other people, your life is really busy. Who has time to sit in front of a computer all day and watch numbers trickle across the screen? Thanks to mobile technology, you can now trade from anywhere. So, if you don’t have time to sit in front of your computer all day, you don’t need to. You can access most brokers directly from your phone if you have a mobile connection. Many Forex and binary options brokers have mobile trading platforms that are downloadable as an app. A lot of traditional stock brokers do, too. This is good news for busy traders like you and me; we can now bring our trading stations with us, rather than sitting behind a computer screen all day and waiting. Just make sure that you have good information so that your trading on the go is helping you and not hurting you. Some sort of alert app or a streaming news service to help you make more informed decisions while you are away from your computer is a must so that you are using this extra trading time to your benefit. Some people find that doing the research from home is the best way to do this so that you are well informed and know what to do exactly when you need to do it while you are out.

The Power of Automation

Another nice time saving resource that you may want to consider is the use of a trading robot. In the Forex market, these are called expert advisors (EA) when you do them through your MetaTrader 4 account. They identify trading opportunities and then automatically execute the trade for you. They will also close the trade for you automatically once a certain threshold is reached. Depending on the EA that you use, you can adjust the level of risk that you’d like to take on and specify general stop-loss points. Most of the more advanced EAs have this feature so that you may customize your robotic trading to more closely meet your needs.

Binary options have recently picked up this feature. The logistics are a bit different as there is no universal platform in the binary industry like there is in the Forex one thanks to MT4. However, the end result is the same. You will most likely need to create a new trading account through your binary robot, but you should be able to deposit that cash, tweak the settings on your risk index, and then sit back and let the robot make trades for you.

If you use a robotic trading tool, just make sure you go with one that will make you money over time. Losses are inevitable over the short term, but if the robot is returning more money than it’s losing, you’re winning. Also ensure that the cost of the service that you use is more than made up for by the profits. This type of hands-free trading will save you a ton of time as you will only need to monitor things once in a while once you get going. How you use the rest of your time is up to you.