If we’re talking about auto forex trading, usually it means forex robot or expert advisor. Yet, we actually have other type of automated trading: forex trading signals. This type of automated system will only do half of the job for you, mainly analyzing the market and pinpointing potential profit opportunities.

Both of them can provide you with constant profits as long as they are supported by a proven trading system. However, that doesn’t mean that you should just go for a 100 % automated system (forex robot). Read the advantages and disadvantages of both options before you decide anything.

Completely Automated System (forex robot)

Pros

The biggest advantage of a forex robot is it doesn’t need any human intervention to do its job. It can analyze the market and execute orders by itself, thus your task as the owner is simply wait. Should you put it in a reliable VPS, you can be assured that your robot will keep working 24/5 for you; that is something that a human trader just can’t do.

In addition, you can also alter the settings to get much better result. Even so, ensure that you know what you’re doing. Reckless experiment on the settings might cost you your whole account.

Cons

To be able to gain the best from your robot, you need to subscribe to a VPS service. This will cost you several bucks per month. Additionally, you might also need to do a bit of research to make sure that your robot is in the right forex broker. Finally, you have to ensure that the robot only trades currency pairs that it has been optimized for.

Half Automated System (trading signals)

Pros

This type of auto forex trading can allow you to be the decision maker of every trade. Should you have other view regarding the situation, you can choose to overlook the signal and wait for a better opportunity. Obviously, you must at least master the basic of forex trading before you are able to judge any trade recommendation.

Cons

Being involved is okay, but sometimes you will "sabotage" your own trades. In other words, you may overlook some signals that can bring you profits.

So which is better? The completely automated one or the half automated one? It actually depends on you. Should you don’t have any plan to actively involved in currency trading or learn it further, a forex robot 's what you need. Obviously you've still got to know a thing or two about choosing the best broker and determining the best currencies, but that can be done with small efforts.

On the other hand, if you’re planning to actively involved and hone your skills in trading currencies, a trading signal service is the one for you. Each signal that comes can be analyzed and you will get better as you execute trade after trade. By using a trading signal service which backed with a working system, you can even gaining profits while honing your skills.

Depend on your goals, you will need different auto forex trading system. Choose the one that can accommodate your need better.