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

Apr 11, 2022 at 13:37
3,181 Views
73 Replies
Member Since May 24, 2022   28 posts
Jun 07, 2022 at 12:43
If you can make use of them in combination, nothing can stop you becoming a successful trader. Make use of your trading bot to eliminate emotions and your market instinct to avoid trading when not needed.
Member Since Jan 11, 2022   45 posts
Jun 10, 2022 at 04:33
Machines can be helpful to execute mundane works with speed and accuracy. They are good at executing the given command perfectly no matter what. They don’t have a conscience, which makes it impossible for machines to decide the right thing to do in exceptional situations. That’s why we need a human to take control of these machines and programs. I agree with the fact that human emotions can be an obstacle to making rational decisions while trading. But without these emotions we won’t even have the motivation to take up a trade. For trading bots, they just know they have to take up a trade because they are programmed to do so. But they can never replace the power of an actual human brain. Artificial intelligence is there to assist us so that we can concentrate on doing more important tasks. They are not meant to take our position and do the important tasks on our behalf. So I would say it won’t hurt to use bots and machines once in a while but make sure the decisions are made by you using all of your senses.
Member Since Jun 02, 2022   23 posts
Jun 10, 2022 at 09:38
In the modern forex trading world, I believe you would need a trading bot that will help you keep up with the market competition. The market is moving quite fast and you may not always be able to take advantage of them while trading manually. But with a bot, you can trade quickly as per your set conditions.
Member Since Jun 02, 2022   24 posts
Jun 13, 2022 at 10:16
Imo, machines can be really helpful in making profits but one should also understand that they also have limitations and can’t be 100% perfect.
Member Since May 18, 2022   16 posts
Jun 13, 2022 at 12:33
Because a human mind can produce machines, but no machine can make a human mind, the mind is always superior to the machine. A trader should always use his or her own intellect to trade rather than machines or automated bots because the human mind is the best analyzer and robots are merely there to help humans.
Member Since Jun 02, 2022   32 posts
Jun 14, 2022 at 09:32
There's no substitute for the human mind. No machine can produce a genius mind, but all outstanding machines are the result of genius minds. However, although machines are beneficial, they will never be able to fully replace a human mind.
Member Since May 02, 2022   38 posts
Jun 14, 2022 at 11:57
When it comes to trading, minds are better than machines. Because of the high volatility, the value of the currency pair can change at any time, and at such times, the human mind can analyse the problem and make a better decision whereas machines will have hard time adapting to the ever changing price movement and you will need to constantly tune the strategy to make it work every time you are trading with market.
Member Since May 24, 2022   17 posts
Jun 16, 2022 at 10:48
A proper blend of the usage of mind and machine can generate huge profits. However, fully relying on machines is not a smart idea as the forex market is unpredictable and highly volatile.
Member Since Jun 02, 2022   20 posts
Jun 21, 2022 at 07:40
It’s all about what you believe in. If you believe that a robot will be able to give you better results, you will accept all that it gets you. And if you believe that manual trading is better, you will do everything that it takes to make profitable trades.
Member Since Jul 20, 2020   399 posts
Jun 21, 2022 at 10:40
I use both, i use my mind to pick the trades and then i use a trade manager to manage them
Member Since Jun 03, 2022   26 posts
Jun 24, 2022 at 09:44
I don’t see an end to this discussion because there will always be several debates in favour and opposition of both of these.
The best way a trader can make a decision for himself is by starting as a manual trader and using a robot after gaining some experience. When you will have results to compare, you will be able to make a better trading decision.
Member Since Jun 28, 2022   21 posts
Jul 14, 2022 at 05:15
I would say both are better. If both used with full productivity will bring benefits to you only. But I would say no doubt world is heading towards tech side but all those things are made by mind itself.
Member Since May 07, 2022   40 posts
Jul 14, 2022 at 10:40
I think both are equally important without mind you can’t use the machine properly and without a machine you remind can’t work efficiently. Both should be used wisely.
Member Since Jul 23, 2020   869 posts
Jul 15, 2022 at 11:42
It leaves necessity for strategy-based trading. Traders should go ahead in a disciplined way and step by step improvement is needed. A trader should transform every mistake into a lesson.
Member Since Feb 15, 2022   219 posts
Jul 17, 2022 at 14:39
Trading education is a vital factor for every traders.They should not waste much money for learning Forex because learning sources are already available only and they also can follow the informative educational e-books and video tutorials.
Member Since Mar 11, 2022   51 posts
Jul 26, 2022 at 06:19
EAs can be really profitable if the trader knows how to use them efficiently.
Member Since Jul 26, 2022   49 posts
Jul 28, 2022 at 07:19
Nothing can stop you from being a successful trader if you can use them in combination.  Use your trading bot to balance your emotions and your market instinct to avoid  trading when it is not necessary.
Member Since Jun 03, 2022   17 posts
Aug 11, 2022 at 09:40
Trading is an art, not a science. Trading manually can be very rewarding if you have the time, money, and dedication to make it work and can help you achieve success in the long term.
Member Since Nov 01, 2016   1 posts
Aug 13, 2022 at 05:21
Why not both ? Machine can identify the trade while people can confirm the trade.

I am a price action trader. I use to miss my trade entry a lot of times because i could not stay with my charts. Some time I switch to a different chart or stay busy doing something and the trade entry pass away. Chasing the market is not my style. So i had no choice but to wait for the next setup, which takes a lot of time.
Then i converted my price action strategy to a Realtime scanner. Now at the right time i get entry alerts. Then i simply look at the chart for the final time and decide if i want to take the trade or not.
Only people who trade with swing structure breakout using two timeframe, will understand the pain of waiting for the breakout to happen and then again waiting for the test to happen before entering the trade.
The name of the tool i use is multipair analyzer. You can google it to know more.
Member Since Aug 03, 2022   25 posts
Aug 17, 2022 at 10:38
Use both and double your chances of making money. To make money in the ever moving market, you need the speed of a robot along with your intelligence.
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