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.
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.
We live in an amazing time. First of all, there is the Forex market, which gives opportunities. I mean to earn excellent money without large investments. All you need for this is the Internet, a computer and some knowledge. Secondly, there is a lot of software, expert advisors and robots to help traders to trade. There are traders who only use robots to trade. I think that you should not rely only on the technique. You have to know how to trade and what to do in certain situations. Robots can be used as advisors or as... Partners. ;) Why not? It's a great tandem, and the probability of profit increases!
I would say mind because a machine can never think on its own and it is just programmed to execute the commands that are given to it. Automated trading can be useful to eliminate the emotions but manual trading must be learned even if you decide to use an EA later on.
The mind is always better compared to the machine. Making trading decisions should always be done so calmly and methodically. One cannot be completely relied upon machine when making trading decisions.
The intellect has its own wonders. But it has certain limitations too. Machines, on the other hand, are powerful and innovative. But they have limitations too. So, combining both is the key. It also depends on one’s time, goals, and dedication to the choice of their usage.
Some will argue that the human mind is better for forex trading because we can act as per changes in the market conditions. Some will argue that bots are better for trading because they are accurate and will save a lot of time.
I say - a combination of both the mind and machine can be the best and powerful duo to trade the forex market. The mind will analyse the market and have skilled predictions guided by instincts for the future market movement direction. When this mind is aided by a machine, we get more accurate information needed for analysing, and can also double check our predictions, or even backtest it.
Both the human mind and machines are brilliant in their own way, but both are limited in certain aspects too. Machines can be quite useful in trading as the mind cannot trade all the time perfectly. It is observed that machines cannot give accurate predictions to a trader. Therefore, using both perfectly is the only solution, as a trader cannot rely only on one of them (owing to the nature of the market these days).
Machines can process information much faster than humans. They can also take into account a large number of factors and data points when making their calculations. This means that they are more likely to come up with accurate predictions. Additionally, machines are not subject to emotions or other biases that can cloud human judgement. This makes them more reliable in terms of making decisions about the forex market.
I think both have positive and negative sides but imo mind is better. Mind allows you to make use of your intuition and experience to make decisions based on your past experiences. On the other hand if you are doing trading only by using any algorithm then there is no intuition based decision but a more calculative one. It's up to the trader which he likes.
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