Cleveland, OH (PRWEB) June 22, 2012
Many iPad owners have considered the futuristic and even glamorous appeal of being able to make money just by pressing buttons on the iPad’s glossy touch screen, and a new strategy using automated currency trading directly on the iPad can now be one more way that the tablet can be used for financial applications and money management. A forex trading website called TheCurrencyMarkets.com has just released a guide intended for iPad users that shows how the automated currency trading software Metatrader 4 can be configured to run automated trading systems called Expert Advisors without the need to keep the iPad on 24 hours a day in order to search for trading signals.
The software Metatrader 4 does have a downloadable app for the iPhone and iPad, but this app is intended for manual forex trading since the computer that the software is installed on must be kept on and connected to the internet constantly in order to search for automated currency trading signals. Most of the major financial and trading software applications released by financial firms are tailored to the Windows operating system, which makes some of the more advanced features of this software such as the ability to implement an algorithmic trading system difficult for any of Apple’s proprietary operating systems.
Manual forex trading where a trader looks at the exchange rate charts and makes trading decisions is one thing, but the ability to automate the whole currency trading process not only makes the trading much less stressful but the software can also scan for buy and sell signals even while a person sleeps. Metatrader 4 is the software of choice for forex traders looking to implement a custom personal algorithmic trading system, but to keep the software monitoring exchange rate data 24 hours a day means it takes a lot of computing power and energy consumption. The iPad is more appropriate for checking email or social network status, and less suited for algorithmic financial applications and autotrading.
But thanks to web programmer and trader Ricky Weber, the iPad can now be used as a personal finance tool which allows people to take advantage of algorithmic currency trading strategies previously only available to institutional traders. With years of experience in the retail foreign exchange market, he has outlined a strategy that makes it possible to use the iPad in a way that resembles the built-in iCloud functionality of the iPad for running automated algorithmic forex trading software 24 hours a day without the need for a traditional Windows PC. Also iPad users who are not admitted computer nerds like he is have access to a number of pre-designed automated trading strategies available for download that can prevent the hassle of learning how to program computer algorithms yourself.
In addition to the work-around strategy that allows iPad users to set up Metatrader 4 for automated trading without needing to run the software on the iPad itself, there is also a list of the top three automated forex trading apps called Expert Advisors that must be configured within the software platform to allow for autotrading. While these are not free downloads, each comes with the algorithmic trading system itself as well as detailed instructions and tutorials for installation. Maybe now iPad users might be one step closer to fulfilling any futuristic techno dreams they might have of making a living while working directly from iPad.