Which strategy is the best according to you and why?
I would like to hear your point of views on it. Do you use forex robot to trade or maunally?
I personally still prefer Manual Trading over using Forex EA created by other.
I-AM-A-ROBOT
Seriously tho, I made my own EA, just use it for entryâŚ
If the system is simple enough, it could work long term, but when you add more then 1 varible, it can get you into trouble.
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.
Manually. I love technology, but I just couldnât trust it to trade my money⌠I just straight donât 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 donât 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 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 donât trust EA. Does anyone obtain good profit by the use of EA?
Darn, I just couldnât 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!
Only with robots
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 itâs 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.
i trade manually. theres way to many variables in trading to ever consider using a bot.
Currently 100% manual. Although I do have programming experience and will be developing my own robots. But as peopel have said above, its my own system and ideas that I have. As well as 100% built by me, so i know exactly how it works and what goes in and why trades exactly how it does.
I trade both. Automated and manual.
I wouldnât call them ârobotsâ though, when I think about ârobotsâ I think about the $97 piece of junk you can buy online to drain you account.
I trade automated, using various systems, I do extensive backtests, and optimisation. I do periodic walk forward tests as well. I have set up a DB for collecting tick data and later working on a filter system to take out any outliers. I use quantitative analysis and technical analysis. I implement predictive models as well as market neutral strategies (just beginning at least).
All my algorithms are carefully designed, written and then implemented. Algorithmic trading takes a lot of work, and honestly, is not a good way to begin trading right from the start. MT4 EAs arenât going to cut it.
You also need to set up the infrastructure to support your algo trading. That could mean as simple as MT4 VPS. But if youâre serious into algo trading, youâre going to need system development tools (MultiCharts, NinjaTrader, Right Edge, MATLAB, etc). Then you have to figure out how youâre going to connect these things to your Forex broker. Usually in the form of MT4 API and write your own MT4 bridge.
With all that said, it takes a while to learn, and without manual trading experience, thereâs no way anyone can do well with automation.
I wrote my own EA over the course of about 8 months last year. I left it to run on its own for 6-7 months and overall its results were quite good, it won 65% of the trades it enters, not amazing but any trades it won it hit the take profit which I had set to 400 points. When I have the time though, I let the EA enter the trade and I decide when it should be closed which I found to work much better so in my opinion, if your considering an EA, a mix of manual and automatic is best rather than fully automated as some things are just too unpredictable which an EA wonât catch
Manual trading for now, if I can ever build my own robot I will. I certainly wonât be buying one though. my reasons are simple enough, if I build it, I know it inside out and can tweak and manipulate it in line with my evolving strategy.
Personally I prefer to make trades manually, because I can know my shortcomings, and I can enhance my experience with to do trade manually , so I can increase my trade skills.
I think this depends much of which system you use. Some systems, based on MA, stoch, RSI for example, are more easier to programme then other systems like the growing popularity of price action trading. Price action trading IS kinda subjective, and so are the S/R-lines too. Therefore, i think its hard to programme a robot to trade with it. And thats the reason i dont trade PA.