Posted by forex at 8:31 AM
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1. Install a FOREX trading robot software. Robot software is sold over the Internet; follow the installation instructions that accompany the software. These robots usually have a 'stealth mode' that traders use to dynamically open and close trading positions. Normally, a FOREX trader creates an entry order consisting of a limit price to open the position, and stops to take profit and close out a loss. The automatic trading software in a FOREX robot replaces a trader's entry orders with real-time dynamic order entry based on current prices.
2. Configure the robot's trading strategies.This depends on the robot you're using, but it typically involves setting the robot's trading rules. You select which technical indicators to monitor and how to set your trading stops --- consult the tutorial accompanying the robot. Trading robots typically support multiple trading strategies. Each strategy is based on one or more technical indicators, such as moving averages and momentum oscillators. When robots use several different trading strategies, brokers are much less likely to recognize a trader's signature trading style, facilitating anonymity.
3. Engage robotic trading. After you configure the robot's strategies, set the robot to 'Stealth' mode and commence trading. The robot's logic executes trades to enter and exit FOREX positions as prices change. No entry, take-profit or stop-loss orders are entered; instead, the robot closes out a position when prices hit the robot's precalculated exit level. In this way, the DD broker has no warning of the trader's stops.