Technologies in the Market

I try to stay up to date on the current trends and strategies as they pertain to the world of finance. I just stumbled onto what is a new concept for me in forex trades. It is called automated forex trading and seems to me as though it would give quite an advantage to anyone using it. As I understand it you provide a program with your buy and sell strategy criteria and it monitors all the markets using your parameters to make purchases and sells, as if you were at the computer conducting the business yourself. Now that seems like technology I could use.