Thanks for creating this great subject for folks to chat about, Mario.
I’ve been working with the MT4 platform for several years. I write scripts, indicators and Experts in MQL4, AND, I also trade naked charts. Robots are great X percent of the time. I find they need fairly constant attention to be profitable.
Just one example, you can build trading times into your bot and select only certain currency pairs and be profitable one month. The next month, the “mood” of that currency pair may change for a multitude of reasons, and, you’re back to “tweaking” your bot to be profitable again.
Neural nets are an example of AI that is constantly attempting to replace the “behavior” of the human brain in its learning and decision making activities. But, even neural nets require “tuning”. And, the human brain and mind are so gigantic and complex, man will be creating new neural nets to emulate themselves…well…forever.
When it comes to money management and risk, robots offer some assistance, however, the human thinker is required to keep those two items in balance, also.
We humans have been attempting to creatively replace the human brain, human organism and even the human mind (play God), with robotics, for as long as robotics have been around.
Something to consider though: the human brain, human organism and human mind are constantly evolving…automatically. The bots will have their electro-mechanical tongues dragging the ground in an attempt to keep up with that “human evolution” and CREATIVITY.
Kenny Rogers, an old country-western singer in the U.S. puts it this way in the lyrics of his song, “The Gambler”:
You’ve got to know when to hold ‘em
Know when to fold ‘em
Know when to walk away
And know when to run
You never count your money
When you’re sittin’ at the table
There’ll be time enough for countin’
When the dealin’s done
( Kenny Rogers - The Gambler - YouTube )
Though professional traders certainly are not gamblers, those lyrics ring true in trading successfully. And, they reflect something humans are great at doing.
Whether your “tool” is a robot you teach and tune, or, you play on the edge with a naked chart…trade on humans!