There appear to be quite a range of systems on offer.  Again, you will need to carefully check the drawdowns and the long term performance of the systems.  There appears to be no way to include your own trading strategy in this tool.

Fabrefactum (www.fabrefactum.com) had a reasonably priced automated trading tool, but their website now says “under construction”, so I am not sure when this will again be made available.

TradeStation can be setup to automatically trade positions based on rules that you have defined. TradeStation uses an industry standard language that allows you to define your rules. TradeStation now works only with the associated broking firm, but can trade stocks, futures, options as well as forex. Having said that, the broker does seem to be quite reasonable with its costs. TradeStation runs on Windows based PCs.

Conclusion

In conclusion, automated forex trading does work.  The platforms are quite stable and mature, and they are a good option if you don’t want to spend all your time monitoring the markets.  You need to consider the trading models on offer quite carefully, as these limit the use of automated trading more than the technical aspects of communicating with the broker and executing trades.  I am not sure that automated forex trading will simply work as a desktop cash machine, but certainly offers opportunities.

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Tags: automated forex trading, Forex Trading, trade robot, tradestation

This entry was posted on Saturday, April 5th, 2008 at 5:00 am and is filed under Automated Trading. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.