Is the automated forex trading best? There are lot more difference between manual and automated trading. But, automated trade in forex is mostly used by the people. Thoughts may differ, share your views whether automated is needed or not?
I am not in favor of Automated trading, if you are new then you can go for it but want to long term trading career then use manual trading. In manual trading each and everything is in your hand.
Yeah manual trading good at any time. But, it depends on mental terms as well. Small concentration loss may bit traders in loss in trade. Even though, manual trading is the knowledge base trade, which is good to learn new trading aspects as well…
I’m in support of automated trading and I think that it is needed. This is because there are times when I’ve missed out on trades I would have otherwise caught had I been sitting in front of the computer 24/7…and that is not practical. But I also agree that there are times when the human eye/trader can see something which a robot cannot necessarily see. And so I think in such cases, the best fit for me would be, to have an ea running 24/7, and for me to check on it here and there (at least once a day at busy times and 5 times a day when I’m not so busy). Also I think that eas have lost quite a great deal of reputation due to these snake oil skinned marketers out there.
I think that you have to start trading manually before you go automated trading. You have to know how the market works,
“feel” the pair and know the difference between them, correlation etc. Only when you have a work plan that gives you money
constantly, then you can try program it. Another aspect in automated trading is technical- unfortunately not every broker welcomes EA traders and don’t not let your robot work as it should. I can tell you from my experience that Sunbirdfx and FXCM are good brokers for EA traders, though I am sure there are few more brokers for that kind of trading.
Auto and the manual trading is good for the different situation where the traders are looking to get more profits. The initial step with manual trade can help the people to understand the forex and to become the best trader…