Is automated forex trading a good idea?

Fxpipper

Master Trader
Oct 26, 2011
1,132
1
49
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.
Actually, automated trading is not for anyone as most EAs tend to have a "quick death" clause worked into it, that is they would end up blowing your acc a few weeks down the line. This is why most ea's have periodic updates and tweaks done.
 

BFS

Active Trader
Apr 30, 2014
14
0
27
bestforexsoft.com
It is a good idea to trade manually using your best strategies and then make it a robot. This way you will be sure that you know its algorithm
 

davidblack

Trader
Jun 19, 2014
77
0
17
Yes automated trading is a good idea because EA can trade for you 24 hours a day and you can manage forex well.
 

olivine

Trader
May 21, 2015
140
0
7
yes it i s right robot works automatically you had less control on them .They trade 24 h ours. If you manage trading by self you can change your positions according to market situation. If you want to close at any point you can skip trading . EA are not good for life time trading.
 

ProFXManager

Active Trader
Jun 7, 2015
35
0
27
Germany
yes it i s right robot works automatically you had less control on them .They trade 24 h ours. If you manage trading by self you can change your positions according to market situation. If you want to close at any point you can skip trading . EA are not good for life time trading.
not true you can code your robot like:
-trading hours 8-16 gmt or something like that
-you can code if-then-else szenarions, like if tp reached, close order, stop trading
-the only one hard thing is to examine, code and test all possible situations!

pro robot: no emotions! no food, no drinks, no sex, no rest room needed,....
 
Most automated system doesn't work so well. An if they were so good, there is no way that anyone would sell such things for less than 100$.
Still, some can work pretty well and the advantage is that by automated a decent trading strategy you avoid doing human mistakes people tend to do when trading.
I don't say none of them works, i just say be skeptical. It's the easiest thing to automate a strategy and sell it under amazing promises cover.
 
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davidblack

Trader
Jun 19, 2014
77
0
17
It is a good way of earning and if you have not enough time to trade manually then automated trading is a good way of trading and you can control your trade with EA.
 

fxapex

Active Trader
Jun 7, 2013
258
7
29
Most automated system doesn't work so well. An if they were so good, there is no way that anyone would sell such things for less than 100$.
Still, some can work pretty well and the advantage is that by automated a decent trading strategy you avoid doing human mistakes people tend to do when trading.
I don't say none of them works, i just say be skeptical. It's the easiest thing to automate a strategy and sell it under amazing promises cover.
Yes the main problem with automated trading is that they dont work all the time, they claim to be perfect but at the same time their results are highly unpredictable.
 
Yes the main problem with automated trading is that they dont work all the time, they claim to be perfect but at the same time their results are highly unpredictable.
Yep. And there are some period of times, as in the crisis in Japan that most of them are not built to. So many accounts of automatic machines were deleted at these times! I saw it in my eyes
 

Ary Barroso

Active Trader
Jul 9, 2017
879
54
39
31
Maybe; but for me it’s not suitable since, my goal is build a trading skill; I have no intention to depend on others! On the other hand, I never seen any successful trader by using others strategy or signal.
 

Helloyees

Trader
Mar 8, 2019
98
7
14
I prefer manual trading, since it gives me an opportunity to connect with my account and make profits . Automatic trading is more like entrusting someone's ideas and analysis with your hard earned money. I'd rather trust my own skills so that I know when I go wrong
 

37riched

Trader
Dec 26, 2018
117
21
24
32
Automated trading is easy and very effective, if you follow it up with intense monitoring. It is very risky to trade let your trades be done on your behalf without your understanding since some EAs can sweep your account clean in a matter of minutes
 

Ary Barroso

Active Trader
Jul 9, 2017
879
54
39
31
Automated trading is easy and very effective, if you follow it up with intense monitoring. It is very risky to trade let your trades be done on your behalf without your understanding since some EAs can sweep your account clean in a matter of minutes
No doubt; manual trading is challenging but depending on others is more risky! In this case, traders should select their trading instruments so carefully.
 

Onanak

Trader
Feb 5, 2019
41
0
12
42
I still rely on manual trading. I don’t believe that machine can outperform me. Let along that on a long run there is no chance that EAs can be profitable. At least try to test it for some time before you actually use it
 

Ary Barroso

Active Trader
Jul 9, 2017
879
54
39
31
I still rely on manual trading. I don’t believe that machine can outperform me. Let along that on a long run there is no chance that EAs can be profitable. At least try to test it for some time before you actually use it
Nice to see, you are on the right track; manual trading is much reliable! When you have a good trading skill; then you are the king.
 

Uaredaty

Trader
Jan 19, 2019
40
2
14
27
This is so true. When you have managed to make your own trading strategy than you are on the good track to traders independence. Relying on robots or social trading for me looks like a grownup man who is still living with his parents – childish
 

Ary Barroso

Active Trader
Jul 9, 2017
879
54
39
31
This is so true. When you have managed to make your own trading strategy than you are on the good track to traders independence. Relying on robots or social trading for me looks like a grownup man who is still living with his parents – childish
Yes, then we have the controlling power! Besides, depending on others can’t be a good solution.
 

Oswald

Trader
Apr 12, 2019
24
3
9
31
Certainly I could agree that the main word with social trading or EAs is independence. If you dont understand how to trade and you dont have your own trading strategy then you will spend your trading life always depending on somebody else. I find it a little bit strange
 

Ary Barroso

Active Trader
Jul 9, 2017
879
54
39
31
Not it's not a good idea at all, I know many people are using forex bot, crypto bot and all other things which are related to that matter anyway. All of them, all of them failed comparing to good old manual trades with strategies and predictions from experinced traders.
Same experience from me! In trading, only manual trading is real! There is no way to rely on others!
 

mandy828

Newbie
Jul 9, 2019
19
0
2
46
Automated Forex Trading do not guarantee 100% profits but they make sure that that investors get the benefit from market movements.
If you are new than it is better to do manual trading than to opt for Automated trading as you can control your trades and automated Forex systems are preferably used by experienced traders. For Example : MT4 and E options they can be referred.