Automated trading anyone?

[jordan37]

Hi , this autotrading hype made me think about starting to trade in forex market. I would like to hear what are your favourite automated trading platforms and why , i'm talking about platforms which let you the user follow a signal provider and copy/execute his trades on your account.

[theMoney]

Hi, if you're talking about copying other peoples trades, you'll need to join a broker which allows you to do such a thing. For example, eToro (broker) has the option for you to publish your trades publicly and an option to allow other people to copy your trades. As a result, there are some decent traders who are making a consistent profit who have enabled the option for others to copy their trades. Therefore, if you sign up with eToro, this will give you the option to automatically #copy# successful traders.

I'm sure there are other brokers who do such a thing; if anybody knows of any, please share.

I myself trade using EA's on Meta Trader 4 which, as you know trade a particular strategy automatically; and that works for me and I make consistent profit. I would say however that I use expert advisors on more of a semi-automated basis, where I tell the EA what direction to trade in, and turn it on and off according to how I feel the market is trading.

Does this help?

[jordan37]

Thx for the answer. Is this etoro service a free one or do you pay any comissions?

[inthemoneyforex]

I haven't used etoro but I know that zulutrade is a free service - you can choose anyone from many many signals and follow as much as you like for. Just read that with some brokers there is commission to use it - so keep in mind that I rem reading about some huge spreads on etoro - reaching up smth like 8 pips on EUR/CAD 17 Pips that really beated me off.

[LindaL]

I haven't used etoro but I know that zulutrade is a free service - you can choose anyone from many many signals and follow as much as you like for. Just read that with some brokers there is commission to use it - so keep in mind that I rem reading about some huge spreads on etoro - reaching up smth like 8 pips on EUR/CAD 17 Pips that really beated me off.

I prefer paid services, as I trust them more and more, I had problems with the free ones.

[HannaLors]

I just looked at IBFX and their spread for EUR/CAD was 5 pips, so it looks like they take a decent premium on each trade. Money grabbing so and so's. Can't they just be happy about making lots of money from good old normal spreads. I personally would prefer to perfect my own trading instead of relying on someone else, who I've never met, and putting my money and lively-hood in their hands; not on your nelly!

Looking at what other people is doing CAN be good, if they are reputable and have a long term steady track record, however I have found that looking at other people can cloud my own personal judgement and distort my 'gut' feeling which I usually go with, and that's working for me.

[inthemoneyforex]

I guess the spread all acknowledges to the broker you use, right? i got used to the system of zulutrade, and have chosen my brokers (aaafx and dukscopy) with the best fit criteria - meaning no comissions, lower spreads ( of an avg. ) and when concerning my signals lower slippage as well.

the reason that I choose to use auto-trading forex is that i have limited time to engage in mt4 trading and coding writing and things like this (since I have a full time job) + I find it a bit irrelevant since the signals present are quite good (there is some serious ranking criteria applied in order to be popular signal - all that you said above - time trading, profitability, number of open trades, duration of open trades, followers, invested equity, and so on) btw if they close a negative month trading they also do not get paid their commissions- all of this indicate some level of seriousness and proper trading behavior, right...plus my brokers and platform are regulated - so for me it works all fine.

[HannaLors]

I've just had a look at zulutrade, it looks very interesting. I actually have tried the application for my phone but didn't get it working (that was about 6 months ago).

The pic below is of the top 'signal provide' as they call it. There is $19 million worth of cash following this provider; that's pretty impressive.

Very interesting no?!

[jordan37]

Zulutrade seems very interesting indeed , thank you for sharing that up. And their Forex Cruise Control provider looks very promising wioth very good user feedback on his page. I will definitely check this platform.

[YES]

So you're telling me I could sign up to zulutrade, trade, and when people follow my trades I get a % of the volume which they trade? I'm being lazy here as I haven't studied the site, but how much commission would one get; in pip terms or %?