automated trading strategies

Tips And Savings for Automate Stock Trading

Stock trading has been a consistent and legal way to make money for several years in every part of the world. Some even dedicate their lives by making it their sole income option. Even though stock trading is a profitable activity, it is also a very technical one. Traders might feel like they are required to keep their eyes glued onto the screens and watch every moment of a company’s share as attentive as they can. In addition to that, a trader of stocks must also have the ability to make sound decisions even under a lot of pressure. There are several best brokers to trade forex in the market that guarantee a safer, legal, and hassle-free method of making money through stock trading. 

The reason why people who are looking for a solution for their stock trading problems end up studying automated trading is that they offer a possibility to trade stocks in a rational way.

Is automated stock trading worth it?

Automated stock trading can be done with the help of an automated system that is programmed to monitor the stock markets 24×7 for opportunities to enter/exit and make decisions to trade based on various technical indicators on behalf of the user. Although their logic does not seem to have any sort of flaws but only through real-time performance testing can assure that the idea of automated stock trading is profitable or not. The technique of using an automated trading system to maximize one’s profit in stock trading is not illegal at all. Many (approximately 70% of the stock traders) do the same to stay ahead of the game by making use of an automated tool that removes emotion out of trading scenarios and trades based on technicality and profitability.

How do automated stock trading systems work?

To make your stock trading experience automated, one has to find trustworthy software developed by a genuine company. It should be based on the expertise of a group of skilled programmers who have a trading-related background. This search might take longer than anyone would expect but it is a rewarding experience. Once you find a reliable automated stock trading software that fulfills individual specific criteria, spend time educating yourself regarding how it works and what it offers. An automated trading system works by letting the user decide rules, criteria, settings, etc. to trade pre-selected stocks on behalf of the trader.

Some of the best brokers for automated trading:

The preferred way to find a genuine automated trading system is to find the best brokers like the following that allow a seamless and secure way of establishing rules for stock trading.

  • Interactive Brokers

This broker is the brainchild of a global trading company that caters to its millions of clients allowing them brokerage services in approximately 31 different countries. Interactive Brokers’ users have the freedom to enter 120 different markets including bonds, equities, stocks, and also cryptocurrencies. The platform welcomes new traders with plenty of educational content such as videos and reading materials to get accustomed to their automated trading system developed by Java, C++, and Python. Interactive Brokers system enables high-speed order placing and order routing at the best possible prices. This broker is the first choice for all experienced online traders who prefer an authentic broker to handle their stock trades.

  • TradeStation Global

Tradestation Global is developed and marketed by London-based TradeStation International Ltd. It is a regulated product that offers its services to clients outside the European Union. It is very similar to interactive brokers and bundles up as an additional service often. TradeStation can be used with Interactive Brokers by downloading its desktop application. This platform allows a stock trader to trade freely without worrying about inactive fees (which is often charged for keeping a trading account inactive for long). Since the company behind TradeStation is a renowned player within the industry, the automated trading platform becomes highly secure and worth its price tag. 

Tips

Utilizing an automated trading system to make more advantageous trades can turn into a nightmare if one does not research all there is to know about a broker before making trades with the help of their system. Just remember that if it sounds too good to be true, then it probably isn’t. 

About the Author

Josh Morgan

Josh Morgan is CouponAnnie's Contributing Writer. He lives life on the cheap, but that doesn't mean a boring existence. Josh loves helping people focus on frugality without giving up the things they enjoy. When he's not getting deals, he's probably drawing or writing something amazing.