Robot is such a good way to trade Forex since there are many factors moving in charts that we could not handle as a human. Robot is our experience + knowledge + power of machine to create a trade.
Reasons You Need to Trade with Robots
- Thread starter Adam Smith
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Right but it all depends upon interest. Some people have busy schedules and they can’t afford much time for manual trading so robotic trading is best suitable for them. Though, along with pros there are several cons attached to it, but it’s the fact. As all says - No matter, how flat you make your pancakes it still has two sides.
In threads like these, it would be very helpful and convincing to newbies to see an FX veteran proving beyond reasonable fact that robots have indeed generated profits for them better than human traders. So far, there has been none. All we read are all theoretical and never realistic or practical. If then you want to be successful as a trader, learn to trade manually. Never rely %100 on robots.
That is true, not every person is made for manual trading. For trading, specially for manual trading we need to have passion and craziness for our trading. If you really want to be here, you will try your best. Other wise excuses are always there.
True! manual trading do require keen interest to trade and one needs to have the will to do that. Right, excuses are the best way to walk out.
Unfair to say nonsense on a topic without giving the reasons.
The problem that I have found with robots, is there lack of adaptability to changing currency dynamics.
Longer term trading is supposed to reduce noise and repeated interim movements, but I have never come across a robot that offers steady growth without enormous DD.
On the other hand, why is it so difficult for a robot not to be able to make short term trades continually. Or perhaps there are such ea's and it's just that they are not shared at least without enormous cost.
The problem that I have found with robots, is there lack of adaptability to changing currency dynamics.
Longer term trading is supposed to reduce noise and repeated interim movements, but I have never come across a robot that offers steady growth without enormous DD.
On the other hand, why is it so difficult for a robot not to be able to make short term trades continually. Or perhaps there are such ea's and it's just that they are not shared at least without enormous cost.
Forex robot is a way of automating your trading style based upon your coded logic. Now, if your trading logic is right and it has the potential to deliver profits then definitely forex robots can do the trick. You can benefit out of robots as:
· They work 24 hours a day.
· They are not prone to emotions, unlike human beings.
· They take a very less time to process the chart information and take positions as indicated by the signals
· They work within the spreads and undertake lesser risks.
However, the real task is finding the right robots as every robot can’t do the trick and even the same robot can’t deliver you return all the time.
So you need to find the robots right based on the current market conditions and then doing the back testing on time frame of similar market conditions. As the market condition changes, you need to change your robots strategy.
· They work 24 hours a day.
· They are not prone to emotions, unlike human beings.
· They take a very less time to process the chart information and take positions as indicated by the signals
· They work within the spreads and undertake lesser risks.
However, the real task is finding the right robots as every robot can’t do the trick and even the same robot can’t deliver you return all the time.
So you need to find the robots right based on the current market conditions and then doing the back testing on time frame of similar market conditions. As the market condition changes, you need to change your robots strategy.
Right, as i said, not every person is made with same mind to trade with manual work in market. I know auto trading is not for long term because robots are always going to fail at some points. But trader can use it for few time then develop skills for manual work in that time duration.
Yeah. Manual trading is not everyone’s cup of tea. However, it is not necessary that robots are going to fail at some point, as there are many traders who entirely rely on robotic trading. The only thing is that if we are doing robo trading then we cannot be just carefree and don’t look at the trades at all. There are many fundamental news releases or events which can highly affect our positions so in that case either making the changes in the system or closing the positions is recommended.
Robots may fails at some times but that depends on so many aspects, as we can not predict in manual trading with analysis same in robot trading we can see future when the robot is going to be fail, it is your choice what kind of work you want to do in Forex.
Well, the market is quite into trading with robos because it does not require any major experience and allows to trade with better strategy & no time consuming process. However, some myths about robo trading are:
1. they are only for young traders
2. It can be used to hold positions
3. Robo advisors= Financial advisors
4. Robo advisors can replace human trading
The technology human replacement is the best way which is working well in the market and I believe that the robo advisors will definitely grow in popularity and would complement the other financial trading services.
1. they are only for young traders
2. It can be used to hold positions
3. Robo advisors= Financial advisors
4. Robo advisors can replace human trading
The technology human replacement is the best way which is working well in the market and I believe that the robo advisors will definitely grow in popularity and would complement the other financial trading services.
Robots are made for every one but if one knows manual trading then why to depend on robots for their work. I think having single manual trade with proper analysis is far better then numbers of trades of a robot program.
Robot is not the fact, It is the strategy/algorithm used behind it. If you are running a robot on your strategy then its okay but buying someone’s EA and running is dangerous, you don’t know anything behind it.
Every situations is in Forex market are different, and a robot can’t decide like human.
Every situations is in Forex market are different, and a robot can’t decide like human.
Forex robots can really be helpful and can generate huge returns for the investors. Just remember that Forex robot is based upon algorithms if they are right and it has the potential to deliver profits then definitely you can trade with forex robots.
I still have no trading experience and to be honest, I was not aware of robots. Upon reading, though, it seems natural. So many spheres of life are automated anyway, why not the basic processes in trading as well? But I agree with those that relying only upon robots is nonsensical. After all, the quick changing market factors need to be incorporated in the trading style and I doubt the robot can be that quickly aligned with what's occurding outside. For basic operations though, it would most probably be useful. Still 60% success rate strikes me as little too much but who knows.
I agree with this, robots are like programmed softwares’ which are designed based on certain algorithms. So to accommodate with the changing economic factors affecting market, changes need to be made in their programming. So in that case, humans need to get involve and trade. So I feel robots can prove beneficial if this change can be incorporated as quickly as market works.
I see, you mentioned here emotions and others psychological issues! But till now I am happy on manual trading! I want to develop my own trading skill, so manual trading is my ultimate choice! But I see, there have many successful Forex traders are available here with their profitable trading EAs, but my trading style is different!
If you add millions of points, even then my answer will be same as always & obviously it’s a BIG NO.