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Can You Really Make A Living Trading Forex?

Can You Really Make A Living Trading Forex?
The longer answer is, yes you can make a living trading the Forex market but you have to consistently do a lot of things right.
Most traders simply do not yet possess the necessary trading skill, discipline, patience, or realistic attitude to succeed long-term in the markets.

Forex is not a scam, but there are plenty of scams associated with forex.
Forex trading is a real business that can be profitable, but it must be treated as such.
It is not a get rich overnight business (although you can do it, if you capable), no matter what you may read elsewhere.
However, it is possible to have a profitable legitimate forex business.

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What is Automatic Trading

An automated trading system (ATS) is a computer program that creates orders and automatically submits them to a market center or exchange. Automated trading systems and electronic trading platforms can execute repetitive tasks at speeds with orders of magnitude greater than any human equivalent.
Using this set of two simple instructions, it is easy to write a computer program which will automatically monitor the stock price (and the moving average indicators) and place the buy and sell orders when the defined conditions are met. The trader no longer needs to keep a watch for live prices and graphs, or put in the orders manually. The algorithmic trading system automatically does it for him, by correctly identifying the trading opportunity
Automated trading systems, also referred to as mechanical trading systems, algorithmic trading, automated trading or system trading, allow traders to establish specific rules for both trade entries and exits that, once programmed, can be automatically executed via a computer. The trade entry and exit rules can be based on simple conditions such as a moving average crossover, or can be complicated strategies that require a comprehensive understanding of the programming language specific to the user’s trading platform, or the expertise of a qualified programmer. Automated trading systems typically require the use of software that is linked to a direct access broker, and any specific rules must be written in that platform’s proprietary language. The TradeStation platform, for example, uses the EasyLanguage programming language; the NinjaTrader platform, on the other hand, utilizes the NinjaScript programming language. Figure 1 shows an example of an automated strategy that triggered three trades during a trading session.

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