Applications for Passive Trading

Passive trading is a specific style of trading. The automation of transactions has many advantages, which experiences Forex market players are willing to use. For example, about 70% of transactions in the US are made using the passive method. To this end, special apps are used. Using software for automation allows getting a stable income all year round.

Forex trading is hard and meticulous work taking up much time and strength. Trading automation makes the trader’s life much easier. By installing a special app, you get a reliable and cool-headed partner able to build your income tenfold. The software can analyze the market, compare charts, make decisions without human intervention. All you need is to activate the software and do the required settings.

How does automated trading work?

Automated trading in the Forex market is carried out by special software. An application collects and processes information, and then based on obtained data makes a required decision. The software can work with any type of data: diagrams, news, events, fluctuations in market activities, etc. The software compares the findings to settings set by a trader and based on it makes a decision.

Apps for passive trading in Forex can:

•analyze the market in line with the trader's trading strategy: make technical and fundamental analyses.
•independently open and close transactions if the conditions set are met.
•simultaneously study several positions, make a complex analysis.

All auto trading software differs from each other in parameters and possibilities. Nevertheless, you shouldn’t rely on the possibilities of robots from top to bottom. Do not exclude the human factor completely. A trader must always monitor the operation of the platform and when necessary adjust settings and parameters. In this case only, it is possible to expect a visible result within a short time. Nobody can accurately answer you how much money you can get in a week or a month. Everything depends on your abilities and knowledge, as well as luck and chance circumstances.

Auto trading advantages

The apps for automated trading in Forex feature many advantages. The key ones are:

•High accuracy level. The software faultlessly determines the right moments for opening and closing transactions. However, to this end, you need to set the right settings.

•No human factor. The robot doesn’t jib at making decisions: it acts as quick as a flash. The software doesn’t feel fear, excitement, or doubt. This makes it possible to act in strict adherence to the trading strategy sticking to the plan set.

•Fast decision-making. The platform can process large amounts of information within a short time, which is beyond the scope of a common person and even a team of traders.

•Possibility of working 24 x 7. Since the software doesn’t get tired and needs no rest, it can work day and night without a break. In this case, the trader’s task is to monitor the robot’s settings in good time.

Using high-quality applications for passive trading in Forex allows a trader to multiply his income several times. Having a currency account, you’ll be able to get a fair income if you have the right strategy and properly chosen app. Since the first income will be low, you don’t have to pay taxes on them.

The best platform for auto trading

When choosing a proper trading platform you need to pay attention to the next criteria:

•Ease of use. You should understand the platform interface.
•Functionality. You should have no limitations in using trading strategies.
•Simple settings. The best thing is when you can use a platform for both manual and automated trading.

So far, the most popular platforms over the world are MetaTrader 4 and 5. They are recognized as the most reliable and convenient ones. These terminals are easy to master and fit even beginners who start their careers.

Examples of apps for passive trading

There are hundreds of apps designed to automate trading. They all have their advantages and disadvantages, which you have to remember. However, the Happy Hamster robot may be distinguished among the diversity.

Using this app, you can completely automate the trading process on the exchange. The software operates based on Bollinger, RSI, MACD indicators. It is very simple to use and manage. To start working, you need to register and connect to a broker. This is a great option for both experienced traders and beginners.

For smartphone owners who prefer to have business dealings using a phone, special apps were created, which are as good as full software in both functionality and profitability.
When choosing a utility, which fits you, be guided by personal needs and chosen strategy. If you miss a strategy and a clear understanding of currency market algorithms, there’s no point to expect miracles from software. Also, it is important to realize that you can’t do completely passive trading using only robots: you should regularly watch application settings and the stability of their work.

How to choose an ideal software?

Choosing a perfect app for trading in Forex is not as easy as it may seem. First of all, you have to stick to the next algorithm:

•Identify your needs. A trader needs to understand what result he expects from automation. All apps differ by data processing rates, possibilities, and complexity of settings. While one app fits a trader, it doesn’t mean that it fits another one.

•Examine real feedback. The best thing is when you can communicate with real traders who are willing to share their experience and advice. It's no good to wholeheartedly believe a developer if he spawns your doubts or promises that you will make big money as early as tomorrow.

•Use apps with a trial period. Most official sellers offer their buyers a test period. This is very important since this allows assessing the possibilities of the utility and making a final decision.

It’s considered that passive trading is safer. Besides, using professional apps makes it possible to save oceans of time. However, it is important to realize that there is no point in waiting for immediate results when using this trading strategy. As with any other market tool, apps require in-depth study before the moment they are used. The more information you have, the higher your odds of success.