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Manual trading or EA??

James_Bond
Jul 11 2012 at 12:57
556 posts

   BenNathan posted:
   I think manual is better having done both - with manual, if you can shut off the emotion, you can discern the market in ways an EA cant therefore not taking unsuitable trades just because they are part of a strategy regardless of the trend as EAs do.


Yeah, but you can't sit 24 hours a day glaring at your screen, while the EA can. An EA will catch all trade opportunities, while manually you're limited to your session's span (8-10 hours?)

paddleplus
Jul 11 2012 at 23:42
12 posts
Why just because you manuel trade do you have to stair at your computer screen for 8-10 hours straight? I find when I do that I don't do as good as to set sl , tp along with if so desired pending orders.

James_Bond
Jul 12 2012 at 08:45
556 posts

   paddleplus posted:
   Why just because you manuel trade do you have to stair at your computer screen for 8-10 hours straight? I find when I do that I don't do as good as to set sl , tp along with if so desired pending orders.


Well, trading manually requires you to be in front of your trading platform as much time as you can, otherwise you can miss set ups - isn't that correct? Unless you have a trading system that works on specific hours of the day only.

How much time do you spend in front of your PC then?

TheLastBear
Jul 12 2012 at 09:06
186 posts
Well, not really. You can analyze the pairs you like and then enter your trade, set-up S/L and T/P and then walk away. You determine how many trades you want at any give time so there is no reason to stare at your screen for that long. I take my two hours in the morning and then see what is going on. I check the market in the evening if necessary, but what good does it do if you don't have time to enjoy your trading profits?

Pax puts the X in Forex.
James_Bond
Jul 12 2012 at 12:12
556 posts

   TheLastBear posted:
   Well, not really. You can analyze the pairs you like and then enter your trade, set-up S/L and T/P and then walk away. You determine how many trades you want at any give time so there is no reason to stare at your screen for that long. I take my two hours in the morning and then see what is going on. I check the market in the evening if necessary, but what good does it do if you don't have time to enjoy your trading profits?


Well, you do have a point, but I think it depends much on your trading system. You can't preset entry/exit levels with any manual systems as in some you might need to see confirmation before opening the trade, which requires you to be there when it happens.

I assume your trading system is more long term? In such case, the entry/exit point don't have to be accurate as with a short term system.

LK Wong
lkwong
Jul 12 2012 at 16:39
71 posts
I trade manually, and I spend maybe half an hour each day executing my trading plan. Guess its alot easier when I trade daily and weekly charts. Even though I could write my system into an EA, I do feel a lot more comfortable doing everything myself.

paddleplus
Jul 12 2012 at 20:06
12 posts
I spend more time then I should maybe a hour or two a day total looking for possiable set ups and reading the blogs with all the great EA's that will make you rich over night. I always thought that I could not manuel trade because I have a fultime job also raising a family. Well I am finding out that I enjoy manuel trading more all the time and by not watching the market hour after hour I do better. It takes me about 5 minutes or less to scan over nine or so pairs to see if there might be a set up coming that that I like. I will glance at the market when I can. Hey and if I miss some no big deal I did not lose money, ther will always be more trades and it gives me a chance to see how the market is reacting. I have tried and am still trying many EA's yet there is nothing more fun then fishing for pips manuely. But hey different strokes for different folks. What counts is that you are having fun and enjoying it or why bother.
Pip On
Paddleplus

skyjack777
Jul 13 2012 at 02:31
55 posts

   James_Bond posted:
   

   paddleplus posted:
   Why just because you manuel trade do you have to stair at your computer screen for 8-10 hours straight? I find when I do that I don't do as good as to set sl , tp along with if so desired pending orders.


Well, trading manually requires you to be in front of your trading platform as much time as you can, otherwise you can miss set ups - isn't that correct? Unless you have a trading system that works on specific hours of the day only.

How much time do you spend in front of your PC then?

I hope not, I set up three trades at 6 am and left for work. I`ll see how I went when I get home. Bruce

TheLastBear
Jul 13 2012 at 10:10
186 posts

   James_Bond posted:
   

   TheLastBear posted:
   Well, not really. You can analyze the pairs you like and then enter your trade, set-up S/L and T/P and then walk away. You determine how many trades you want at any give time so there is no reason to stare at your screen for that long. I take my two hours in the morning and then see what is going on. I check the market in the evening if necessary, but what good does it do if you don't have time to enjoy your trading profits?


Well, you do have a point, but I think it depends much on your trading system. You can't preset entry/exit levels with any manual systems as in some you might need to see confirmation before opening the trade, which requires you to be there when it happens.

I assume your trading system is more long term? In such case, the entry/exit point don't have to be accurate as with a short term system.


No, my system is short term. I do check in during the day from my mobile device, but I ignore all the noise that is short-term. I enter the trade when I am sure of all the confirmation I need so after I decide on a trade there is no need to sit and wait. I hate long-term trades. I live today and not weeks from now so I want to enjoy the benefits of my work every day.

Pax puts the X in Forex.
James_Bond
Jul 13 2012 at 12:47
556 posts

   lkwong posted:
   I trade manually, and I spend maybe half an hour each day executing my trading plan. Guess its alot easier when I trade daily and weekly charts. Even though I could write my system into an EA, I do feel a lot more comfortable doing everything myself.


That's very interesting. I haven't encountered anyone yet who knowingly preferred trading a system manually rather automatically. Have you tried automating it before? This would take some time in the short term, but longer term, it would free your time to explore and develop other trading systems.

In any case, having an automated system doesn't mean you lose control over it, but on the contrary, it gives you a complete control over it as you remove the human factor. You can still turn it off an on as you wish and keep fine tunning it.

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