Manually. I love technology, but I just couldn't trust it to trade my money.. I just straight don't like the idea. My brother was trying to get one of those to trade for him and drained hours and hours into it with nothing to show for it. I think the time is better spent becoming a robot yourself!
I would recommend only trading a system that you know how it works and has been tested. The major fault with commercial EAs is that you do not know how it works. If you don't know how it works, how will you know when it stops working?
If you want to get into automated trading, develop a manual strategy yourself, then figure out how to turn it into an EA.
I also prefer to trade manually as this trading style offers more control on trading. It allows to think about number of factors like news, market move and then take decision.
I agree with you. Trading manually enable you to take decision on the spot. If you are making good profit, you can close the position and go away. I rarely don't trust EA. Does anyone obtain good profit by the use of EA?
Darn, I just couldn't leave it alone, after wasting thousands of hours (well quite a few) a few years back, I concluded that it was just a waste of time developing an EA, but there was still an itch I had to scratch, what about an EA where you manually do your charting, support ans resistance, and then the EA would trade off of them, the idea being that you are using the best of both worlds, using the human element to identify visual stuff, and computer to do the technical trading.
I can just see myself now, placing my S/R levels morning and evening, and letting the EA do the rest, Wish me luck guys!
Last edited by purplepatchforex; 06-14-2012 at 09:11 AM.
Guys- trading using Robots are not safe and it needs a huge amount of money to trade with the robots.there is also another problem.you have to buy a hosting to run the robot 24 hour.so i think manual trading is the best way to trading then any other.
I use both, and the reason to use robots it's pretty obvious - not all of us has the time/will to spend 20 hours of the day trading. I see it just like any other strategy - nothing in forex is risk-free, and so is not using robots. Everyone has to find the one who suits him best.