Autotrading is the connection of an individual’s account with the account of a trading expert that enables the reproduction of the expert’s trades into the user’s account. Previously a novel practice, autotrading is fast becoming a standard forex trading strategy as can be seen by the emergence of a multitude of similar services, at the forefront of which, both as an introducer and as an innovator, is ZuluTrade.
Autotrading services operate as platforms that connect the forex experts that want to share their knowledge, with users that prefer to program their trades by reference to trading signals coming from traders with successful track records, than trading manually. Autotrading presents numerous advantages for both parties, some of which are outlined below:
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- Autotrading is a perfect starting point for forex novices that want to invest in the booming forex market but lack the expertise and knowledge to do so themselves. When autotrading, individuals do not follow the markets or complicated financial indicators, but people, whose performance and trading pattern matches their risk profile and appetite. This way, it is possible to start trading efficiently without having to first master the multi-faceted forex market but by following others that have done this already and might simply be better in trading.
- Autotrading is also a great solution to day-trade without having to spend immense amounts of time in front of a PC. As many individuals lack the time necessary to follow the fast-paced financial developments, autotrading is a great solution as it enables users to copy traders in multiple time zones even with their PC switched off.
- Autotrading allows for talented individuals to come forward and shine as successful traders. By sharing their trading knowledge with others, gifted traders can capitalize on their talent and popularity as they get compensated by autotrading platform providers.
The nature of forex trading itself, especially its high learning curve, lightning-fast speeds and high liquidity requirements, make autotrading a particularly attractive substitute to standard forex trading. We expect this trend, aided by current advances in technology such as cloud computing and the predominance of mobile internet access, to only grow stronger over time and expand in other trading instruments (e.g. Stocks, CFDs, Futures etc.).