Psychological element in any business may have an impact on it. But what if you could take this element out of business, especially in trading? This is possible with use of automated trading software.
Computers have made it possible to automate moves without dealing with any emotion. A trader can set parameters by taking an advantage of automated trading software. Also, he can allocate capital and open or close positions even.
But that does not generate automated profits. The risk is still there even if you rely in computers.
However, the best automated trading software:
- Metatrader 4
- interactive brokers
- sofi automated investing
pros of automated trading
- Trade execution at a faster rate
- Does not deviate and remain sticked to predetermined strategy
- No emotions and stress
- Transaction cost is quite low
Cons of Automated Trading
- Lack of control is difficult for some traders to accept
- Easy to over-optimize your strategy