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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.