Auto Trading refers the process of having a computer execute trades on behalf of the trader.
There are many different approaches to auto-trading, here is some of the terminology
Black Box - refers to a computer program or algorithm where the trader sees only the trade signal and not the computation behind the signal
Grey Box- refers to a computer program or algorithm where the trader see the trading system plus a partial view of the conditions that generate the signal
Fully Automated - Trade signals are transmitted directly to the traders brokerage account, there is no intervention by the trader
Partially Automated - Trade signals are delivered, and the trader must manually hit the buy or sell button in order to execute the trade
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