Can I use automated trading to earn while I learn how to trade foreign currency?
and you are?
If you want to buy an EA, then go for it. But how will you know what a good one is when you don’t know how to trade?
if you are sure that ea works according to the algorithm you need, then why not
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My name is Gerald R Woodard III.
Do you use automated trading?
It’s just an inquiry. I’m trying to get information from someone already experienced. I’ve researched some bots and, some people say they work and some say they don’t so I’m in the middle.
I’ve yet to see or create an EA that consistently makes profit over all market conditions. I guess some loss is to be expected, but everything I’ve seen goes through periods of losses that if they happened to be at the start, then they’d kill the account.
Doesn’t mean they don’t exist, but if I found the holy grail, I wouldn’t be selling it
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The answer is yes, albeit you’ll need at least three differing ones which are designed for specific market conditions. And until you learn, you won’t know which one to use. That’s why FX trading is simple, but it’s not easy, and why we’re not all millionaires.
the result of automated trading is just for a short time approach, for that reason i always like to avoid this issue.
i support PAAM service than any automated trading system. but the success on PAAM service depends on your broker performance.
I think the time and effort you end up spending on bots will just detract from learning to trade personally. Can you make money? Yeah maybe. But you could end up wasting time and money finding the right ones needed to do so with any consistency.
If you don’t have any knowledge of manual trading please don’t go for automated trading. Automated trading is good for experienced traders.
Not actually! In Forex, most of the scammers try to make money by targeting the newbies; so be careful!