Best tricks on how to trade forex automatically without EA. Who says that a trader cannot trade automatically without Expert Advisor (EA)? If you learn Forex deeper, you must have known that there are actually some tricks that you can do to trade automatically without using an EA or robot trading. This article will discuss these tricks and a brief about the strategy to employ them for your benefit.
Best Tricks to Trade Forex Automatically without EA
It is no secret that automated trading has always been linked to the use of Expert Advisor. But in fact, there are actually some other alternatives to trade Forex automatically without taking advantage of any single EA. What makes it more interesting is that the trick is easy and can save you more money rather than paying for a robot trading.
Why Not Using EA for Forex Automated Trading
Before discussing some of the ways that you can do to trade automatically in Forex market without EA, you need to know the reason why these ways are better option for you. First, as mentioned above, using EA or robot trading is likely to cost you more money and it somehow takes more effort since you need to comprehend the robot trading and its code.
The Best Solutions to Trade Automatically without EA
As an alternative for the costly Expert Advisor, there is Auto Pilot which is easier and less costly for traders. In contrast to EA, you do not need to get specific software to make use of Auto Pilot. Here, you will need a particular system that makes it possible to do automated trading. And here are some of the systems in question.
#1 Mirror Trading
First of all, there is Mirror Trading. We can say that it is the most basic Auto Pilot available out there. Mirror Trading was actually developed from the Algo Trading. However, transactions copied by Follower are usually not coming from traders who are more experienced. Instead, it comes from chosen trading system which is developed and run by Algorithmic.
Nowadays, there are still many Forex brokers that are offering a service of Mirror Trader provided by Tradency for Mirror Trading. The system is not only able to execute Forex transaction, but also able to copy trading CFD and futures automatically. This company also provides three mode of automatic trading including Manual Trading, Semi Automatic and Automatic Mirror Trading.
#2 Copy Trading
Secondly, there is also Copy Trading which is able to meet the needs of traders who want to provide signal and those who want to become follower. This is because the Copy Trading system makes it possible for the follower to place trading in their platform based on the position taken by the signal provider. In this system, there is usually an arranged trading capital.
#3 Social Trading
The last, there is Social Trading. This system is considered unique for automated Forex trading. This is because this system is slightly different to the two mentioned above. Social Trading is more like social media platform for Forex traders. However, it has extra features for those who want to copy trading strategy or even trading position automatically. This platform involves recent updates for the participants.
A Final Thought on Automated Trading without EA
In brief, it is actually possible for traders to trade automatically without buying an expensive Expert Advisor. Instead, they can benefit Auto Pilot which is available in Copy Trading, Mirror Trading and Social Trading system. However, even though there are tools that ease you in trading automatically, you still need to learn Forex trading for better chance to be a successful and winning Forex trader.