A Day in the Life of an Absentee Trader.
In the foreign exchange market, there’s this fellow; he’s an active trader yet he’s also active in other industries. Even with a handful on his plate, he manages to generate a fair amount of profit regularly.
He leaves the execution of his trades to a machine. Rather than sit all day to observe market action and watch the performance of his trades, he lets an automated trading system get to work. He’s serious about trading but so is he about a string of other obligations.
This trader is known as an absentee trader.
What Is an Absentee Trader?
An absentee trader is a fellow who works with an automated trading system. In the forex market, it’s considered a smart move to let a program deal with trades if an individual is required to attend to a regular 9-5 job.
Moreover, an absentee trader is on top of his game; the employment of automated trading systems accounts for emotionless trading. Without his involvement and without his knowledge of recent market conditions, his original plan will be executed.
An absentee in trading is also granted the opportunity to handle multiple accounts; with the help of automated trading, he can manage all of them accordingly. Given his diligence to follow up on simultaneous trades at the start and at the end of a trading day, he is fit to have a load.
The Importance of Automated Trading,
A primary advantage of using an automated system when trading is the program’s design; it was created to make smart and logical decisions for the benefit of a trader. Although trading is also about luck and the recent market, the assignment of pre-determined instructions means that a trader is the one in control.
In comparison to traditional trading (i.e. trading without automation), the results are based on a trader’s selected setting; the market conditions may be given light but it is up to them to agree or disagree with a trader’s decision. Granted a high quality automated trading system is chosen, venturing in the forex market as an absentee can be achieved.
Overall, the life of an absentee trader is quite alright. He is interested in trading, despite having a load of other responsibilities that are not related to the forex market; with a program that was engineered to look out for his trades during unpredictable market action, he can remain mindful of his trades for each trading day.
Written and provided by Mr. Shah.