Overview of How to Automatic Forex Trading with Auto Pilot
Basically, Auto Pilot does not require you to buy special software and install it on the platform as well as how to trade with EA. Instead, Auto Pilot provides a special system that allows you to copy the execution of positions from other traders. Because the process can take place automatically, the Auto Pilot qualifies as an alternative way of automated forex trading without EA.
Unclear? Here's one easy example:
You just registered an account with a forex broker that has an Auto Pilot service. In this system, you participate as a follower who can choose the mainstay trader to be able to follow. After making a choice and following a Trader, every trading execution done by the Trader will automatically be copied on your platform.
So of course, you don't open positions manually with this system. The advantage of the Auto Pilot system is that you can follow in the footsteps of a more experienced choice trader. The disadvantage is that you need to pay a commission to the Trader you are following. This commission payment system is usually calculated and distributed automatically, based on your agreement with the relevant Trader.
In its development, the Auto Pilot is offered in various versions of services that have their own uniqueness.