Any forex trader should have a good trading environment regardless of his/her experience. There should be plenty of instruments, and the trading platform should be easy to use. The process should be straightforward to make it easy to connect and trade with successful traders across the globe.
With the right trading platform, you will have a good experience, even if you are a beginner. Many platforms are available, and you must take the time to research before you select the best one. For instance, with the auto trader, you will have a seamless experience because it is user-friendly.
If you would like to open an auto trader account and become a successful forex trader, the following steps will be of great help.
1. Choose Optimal Trading Strategies
Once you sign up as an auto trader, the first step is to choose the best trading strategies. You should go to the strategies page and check the available trading strategies that will be suitable for you. Once you identify the preferred strategies, review their performances, add them to your portfolio by clicking the ‘add to portfolio’ button. This button should lead you to subscribe and add your preferred strategies.
After that, you should select the trading account to which you would like to add the selected strategy. If you are an inexperienced trader, the ‘Automatic settings adjustment” will be of great help. After adding your strategy, the final step is to click the save button and start enjoying your new feature.
2. Review Performance
The next step to do is to review the performance of your account. You can monitor your trades and pending orders in real-time through the trading terminal.
If you want to assess the trading performance and transactions of your account, you can click the ‘statements’ button.
From here, you can check the historical performance and equity growth charts of the selected strategies. You can then calculate the statistical data to help you make better trading solutions in the future.
3. Customize Individual Settings
To customize individual settings, you can use the basic option to review your trading strategies’ basic commands. Once you click the portfolio button, you will see four basic commands. These include:
- Pause- this command puts on hold new trading activities for the selected strategy. It can still manage other previously opened trades.
- Stop- this command completely stops the trading transactions as well as activities for the selected strategy.
- Modify- this command adjusts your portfolio’s customization setting.
- Delete- if you want to remove a particular unwanted strategy from your portfolio, you can do so through this command.
When planning to customize your portfolio, you can use three basic customization options. These include:
- Automatic settings adjustment
- Percentage of the total balance
- Fixed trade size
Each set contains detailed information as well as supplementary options for the trade and trade size. This helps users to perform optimal customization to their accounts and have a hassle-free experience during their operations.
4. Connect to Live Account
After successfully creating an account, selecting trading strategies, and customizing your portfolio, you are now ready to connect to a live account. It is simple to connect to a live account as there is a tab for that. Once you click on the tab, it will take you directly to the live account. You can then link it to your auto trader account.
If you have not registered a live account, you should click on the ‘I want to open a new account button. If you have a fully funded live account, you should click on the ‘I already have an account button.
You can then proceed to fill in your information in the provided form to complete your process of linking your auto trader account to your live account.
As you have seen, the process to register and customize your account is simple and easy to follow. You can start your trade any time as long as you have a functional account. With the simple steps provided above, you will be able to open an account and link it to a live account without hassle.