Before you start your career on forex currency trading world, you must aware the risk on forex because some people only thing that forex is a heaven of make money. Forex market is very liquid, more than three billion us dollars transaction value in forex market traded everyday. If you have aware about the risk in forex trading, you will act carefully and use logical analysis rather than using your emotion.
To act based on your logic, you have to understand the pattern or movement on currency pair and what factors can affect currency trend movement, there is technical factor which observes trend pattern from historical data with math calculations to predict future currency trend movement, beside technical factor there is fundamental factor, which consist of economics issues or news released. The use of technical analysis and fundamental analysis will define a specific forex trading system.
Generally, there are two kinds of system which help traders to analize and predict future currency trend movement :
1.Automated Forex System
This kind of forex system works automatically, including open an order, setting up the stop loss and target point, until close the order. Traders who use this kind of forex system will just sit relax in front of their metatrader chart monitor and wait the result whether they get profit or die tryin. Many cases, an automated forex system or called expert advisor bring more negative results or loss rather than positive results. As you know, a programmable system can not act properly if there is a significant economics news or event published. This kind of system only works for certain condition.
2. Manual Forex System
Traders who use manual forex system must observe or monitor currency pairs trend movement to decide what kind of order is proper. Manual forex system method consists of forex indicators or tools which can help traders to analize currency trend movement and decide what action is the best. Result from using manual forex system is vary among traders, it is mainly depend on traders experienced. Experienced traders who using manual forex system will easily get profits as much as what they want, and they never think to use automated forex system to replace manual forex system.
Manual forex system provide better results than automated forex system, IF traders who use manual forex system have enough experienced on forex trading, while automated forex system works for all kind of traders even for someone who just heard about forex yesterday, but this automatic system only works for certain condition, and it absolutely does not guarantee the traders to get profit.
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