Is automated forex trading a good idea?
- Thread starter Rambo35
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Auto trading methods do work.
However; you need to understand to stop the E.A if the market cycle is going to change. This means, you need to monitor the Expert Advisor trading activity.
Market does not trends, daily.
Some times, it become sideways and some times it becomes non-volatile.
A good idea is to get information about the trading method of Automated Forex trading software. In this way, you may get a chance to stop using the E.A as soon as the market cycle is going to change.
However; you need to understand to stop the E.A if the market cycle is going to change. This means, you need to monitor the Expert Advisor trading activity.
Market does not trends, daily.
Some times, it become sideways and some times it becomes non-volatile.
A good idea is to get information about the trading method of Automated Forex trading software. In this way, you may get a chance to stop using the E.A as soon as the market cycle is going to change.
Well you need to know your E.A. E.A's work under a particular market condition.. If market range changes same E.A which made you profits earlier can wipe off your account. Better subscribe to a good mirror trading service with a good profitable manager.
I can't count the number of times I've answered questions similar to this one. The answer is always simple in the same.Let's assume that you have created a computer algorithm or bot as I like to call them, that makes consistent money month over month in any market conditions. Once you have created such an algorithm the sky's the limit on the profits you can make. From this point it would all be about increasing your trade size as your account size grows.Eventually you would become a multimillionaire in a short amount of time.Why in the world would you as a new millionaire want to deal with the general trading public. For those of use never had to deal with the public. Most of the time it's not much fun. There are so many complainers and people wanting freebies. Or otherwise out to get something for nothing but it is something that few people care to do. The point is back to giving it simple. You would not, I would not, nor would anyone else. Therefore signal services, a great for making money for the signal provider only as the empty your bank account. EA's are even more worthless. Has it takes something that is borderline at best and puts it in the hands of an unskilled trader. Save your money and your mind and learn to trade on your own.
The use of automated trading is a good idea . Automated system is a great tool for trading when it is being used effectively. With automated software you can place buy and sell orders automatically. Also another important thing is that auto trade software is unaffected by emotional swings that human traders are prey to.
You must have a good trading strategy, backtesting, when you have over 50% positive operations, in MQL4 program it, test it, and recently passed Real
Touts
Signal providers and EA's are nothing more than touts,equivalent to those who you may have seen at your local racetrack hawking "Best Bets" and "Sure Winners " to the unwary and uninformed. This business, of trading forex, is a learned empirical skill. That means learning ,over a period of extended time ,through painful trial and error how to trade profitably. Unfortunately there are no short cuts that I am aware of. No pain -- No gain That is the price of admission to the real winners club and if you are not prepared to pay the price your application is denied.
Signal providers and EA's are nothing more than touts,equivalent to those who you may have seen at your local racetrack hawking "Best Bets" and "Sure Winners " to the unwary and uninformed. This business, of trading forex, is a learned empirical skill. That means learning ,over a period of extended time ,through painful trial and error how to trade profitably. Unfortunately there are no short cuts that I am aware of. No pain -- No gain That is the price of admission to the real winners club and if you are not prepared to pay the price your application is denied.
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Yeah the idea is good but putting it into practice may show some negative aftermath, like Margin Call or frequent SL knockout 
. I prefer to automate only part of my trading, for example using Hotforex Mt4 Scripts or templates, build-in calculators, but nothing that may open trades without my final consent. Putting your money at such high risk is inacceptible.
. I prefer to automate only part of my trading, for example using Hotforex Mt4 Scripts or templates, build-in calculators, but nothing that may open trades without my final consent. Putting your money at such high risk is inacceptible.Sir--Trading forex your total bankroll (read account ) is always at risk, if not on any one trade , than on the accumulated risk of multiple trades. The critical issue is: by making your own trading decisions you can learn from your own errors ,if you make them. You learn nothing from an advisers error except that you may have wasted your money on somebody else's poor judgement or inadequate system. Trust only your abilities and you will come out no worse than using an EA, perhaps better.You will have saved money by avoiding their fees and your trading skills will have improved by dent of your experience.
LOL, that at least would make more sense rather than opt for a third party code that can wipe out your account. The copy trading makes more sense especially when the other option available happens to be ea..
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david100
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I do not like automated Forex trading. Yes automated trading can give you profit for some extent but is not long lasting.It is better one learns to trade on his own trading strategy without depending on automatic trading.
A great forex system means you need to constantly have high probability trades. You also need to be aware of all the currency pairs in real time.
I think automated trading is a good idea and you can make huge profit with using EA's.But it is also very difficult to make always make profit. But if you have learn manual trading it is also good for you and for your trading.
Yes, that's why copy trading is a better option than automated scripts for newbies who do not have a clue about the market but you would need to review the traders stats, keep track of all trades that are copied, etc.
Manual trading is much better as you are controlling your trades, Automated system are for much experienced traders, a newbie should not rely on Automated systems.
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