This trading model based functions can be entered into this type of automatic trading anyway. Just if using EA / robot scripting the more dominant factor. In the model of Auto Pilot / Peer 2 Peer is all so much easier, because the signal / trading systems already exist and we live determine just where we want to apply or follow. Some brokers who provide this facility are:
- Alpari: Alpari we can follow the trading of professional traders (PAMM), or from the collection of trading systems (Systematic), or integration into the trading signal provider (ZuluTrade).
- AvaFX: Collection trading system (Ava Auto Trader), or integration into the trading signal provider (ZuluTrade).
- Zulutrade: Zulutrade signal providers trading as working with several brokers where the system will connect to form an automatic trading system.
So in automatic trading model is normally there are 3 main factors:
2. Trader (you)
3. Signal Provider (another Trader, System, etc.)
Automatic trading has several advantages:
1. Not too time-consuming. You just spend a little time on a weekly basis ie to search and analyze a system of trading, professional traders which are good and you think that you will apply in your automatic trading.
2. Does not require knowledge of forex analysis (technical and fundamental), because you are analyzing the performance of system / trader / individual. However, general knowledge about forex and analysis remains essential. You should still explore this knowledge in your spare time.
While the lack of automatic trading model are:
1. Less flexible, we can not decide when we’ll open the transaction. So just follow it. However, there are several such systems in Zulutrade we can decide to stop / close the transaction if we do not match the on going trading in automatic trading. In addition it could also decide to stop / hold the provider that we follow today.
2. Cost per trade in automatic trading is more expensive, because of his existing commission / piece we have to pay for a signal provider / system.