Mind or Machine? What’s Better For Forex Trading?

Apr 11, 2022 at 13:37
3,172 Views
73 Replies
Member Since Nov 02, 2021   73 posts
May 12, 2022 at 05:26
Even if you think that you will have to use a trading machine to keep up with the market competition, do you also think that you will be able to let it trade for you without having to keep a check on it! If you do, then let me tell you that these EAs can fail and may destroy your trading account if not used properly. So, you better make an informed decision about what you actually want to do.
Member Since Oct 29, 2021   70 posts
May 16, 2022 at 04:55
In trading, having the right mentality is crucial. When traders are sad, they should stay away from trading since depression acts as a barrier. It makes it difficult for traders to concentrate on market analysis, and traders cannot foresee market movement without it.
Member Since Sep 08, 2020   32 posts
May 16, 2022 at 08:09
Can't debate on that i think both are important.
Member Since May 10, 2022   9 posts
May 16, 2022 at 11:30
First mind and then machine!
Member Since Jul 20, 2020   399 posts
May 16, 2022 at 16:54
Quercine posted:
Great article! I completely agree. Part of learning forex and growing as a trader is doing it yourself, without the help of a machine.

Absolutely agree, i think that's why forex robots fail so much as they are used by people that don't know how to trade manually. All traders need to know how to navigate the markets without any assistance
Member Since Jun 07, 2021   72 posts
May 17, 2022 at 05:54
Forex is a highly volatile market so we have to take instant decisions on some occasions. Hence, in this term, experienced minds are one step ahead of the machine.
Member Since May 11, 2022   6 posts
May 17, 2022 at 08:34
What speaks for an automated system is the fact that it processes what has been specified without emotion. This certainly has advantages in certain market situations. In addition, you can support manual trading.

Nevertheless, such systems have to be monitored and, if necessary, intervened manually.

With manual trading, you can use the chart to react better to certain market situations or make customized decisions. If you don't have your emotions under control, this can also end badly for you.

In general, there is no better or worse. It depends on your strategy and experience. The question is what kind of trader you want to be and what suits you best.
Member Since May 13, 2022   23 posts
May 18, 2022 at 05:31
I think it depends on the necessity. A bot will win if you wish to eliminate emotions from your trading and want to take advantage of even the slightest market movements. But as a robot will never be able to sense the news and other market conditions, it’s your mind that will help you trade well.
Member Since Dec 20, 2019   23 posts
May 18, 2022 at 17:19
Mind is better anyway, it activates all the sections of your brain, while machine trading or trading with expert advisors/signals doesn't develop you fully imho.
Member Since May 13, 2022   22 posts
May 20, 2022 at 06:10
I would like to say that the mind is better than a machine. All the new-age machines are designed by brilliant minds. But there is no machine in the universe that can design and produce a human brain. So the brain comes first and then its amazing creations. This is for everything, including forex trading.
Automated forex robots have their limitations but a mind has limitless possibilities.
Member Since May 04, 2019   31 posts
May 28, 2022 at 20:41
Mind of course is better for trading. Yeah, probably, sometimes EAs might be more effective, however you should spend dozens of time in order to find a good advisor. the main here is to determine an effective advisor or find a good signals supplier. I always stand for mind and believe that there is nothing better than exploring, practicing and learning on your own.

When you devote some time to the learning and practicing on your own, you receive a HUGE experience. It prevails over the experience you receive with the expert advisor, however if you follow the signals for example, you can also analyse the deals which are proposed by the robotic software.
Member Since Jan 10, 2022   40 posts
Jun 01, 2022 at 06:03
Mind is always better than a machine because a human mind can make machines but no machine can make a human mind. A trader must always use his own mind for trading rather than using machines or automated bots as the human mind is the best analyst and machines are only meant to assist us.
Member Since May 13, 2022   34 posts
Jun 02, 2022 at 04:59
When it comes to trading, human minds are unquestionably superior to machines. Due to the extreme volatility, the currency pair's value can change at any time. The human mind, on the other hand, can analyse the situation and make a better decision in light of the new circumstances, whereas the bot cannot. It's possible that you'll lose money as a result of it.
Member Since Mar 21, 2022   47 posts
Jun 03, 2022 at 06:19
Our reactions while trading will affect our profit returns. So, it is a must to stay alert and be ready for the worst as anything can happen. The market is uncertain and understanding the fundamentals is important to make the right choices.
Member Since Jan 20, 2022   31 posts
Jun 03, 2022 at 07:07
Machines can not create ideas and new techniques which a human mind can. Machine mind is limited and will only be efficient upto the range that has been set.
Member Since Mar 31, 2021   229 posts
Jun 03, 2022 at 14:39
I would say both. Mind and machine are good for trrader when combine it.
Think thrice before opening an order
Member Since Apr 03, 2021   470 posts
Jun 05, 2022 at 23:45
The machine created by humans is typically human better than a machine, however, each human has various intelligence and capacity, the machine is just like advisors in trading, profitable machine trading is created by the good trader, and programmers maybe collaborate to result in software.
Member Since May 24, 2022   23 posts
Jun 06, 2022 at 11:57
I believe that the mind is superior in trading. Machines are the creations of brilliant minds. There is no machine in the universe capable of producing a human mind. This beautiful universe's creative source is the mind. Machines, however, are useful. You can use machines to assist you. Even so, you should only make trading decisions with your sound mind.
Member Since Jun 06, 2022   14 posts
Jun 07, 2022 at 02:17
A good trader is going to be very hard to beat when you can analyze a market on the fly.

An EA/ structured system is going to maybe have a slight edge if you can scale it up enough.

But if you had to use one versus the other, and gave them a limit of say, ten trades a week, and no more. I would bet the human, doing manual trades would win.
Protect against loses and the profits take care of themselves.
Member Since May 30, 2022   27 posts
Jun 07, 2022 at 09:28
There you go stating facts! I do believe that even when we have machines, we mustn’t rely completely on them. Sure, they help us make life easier. But, there is a thin line between depending on machines and using our own minds. It's always better to either find a balance between the two for better results.
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