Robot or NoBot?

A couple of threads have brought up the question about wether automated EA’s are valid way to trade, if they work, why not to buy them, ect.

I had a few thoughts on the subject and just decided to start my own thread as to not change the subjects of the other threads.

I guess if you want to use a robot to trade for youself you have to ask the question why do I wan’t to use a robot?

Is it because:

I don’t know how to trade and just want to make money without ever having to learn something?

Is it because I don’t trust myself to trade?

Is it because I think I am too stupid to learn to trade and looking for someone else to do the work?

Is it because I’ve been trading so long I’m sick of doing my trading manually and can program my own EA to do it?

IMO, the last question is the only reason anyone should use an EA, one of their own creation, that they can program and adjust as needed.

While I think the idea of a completely automated system just chugging away and making me pips while I wasn’t even watching, I would just go crazy wondering when it’s not going to work. Also, let’s just say I did find an EA that worked and I had yet to learn anything significant about trading. What happens when the EA, no longer works? I would have learned absolutely nothing about trading even if the EA made me thousands and thousands of dollars. When it stopped working I wouldn’t know how to fix it because I didn’t program it in the first place. Part of any business is not just making money but knowing why something makes you money.

Anyways, feel free to post your comments. Please no spam from sites trying to sell EA’s, this thread is about traders opinions on the concept of EA’s, not any one particular EA.

I believe you are right on. Seems to me that if you don’t know how to make money manually then the bot wont work in the long run either.

as you have seen from my posts in other threads concerning this matter, i subscribe (although not yet committed) to your last point – it would be nice to have something else doing the grunt work with something im completely familiar with !"

I run multi platforms (old “eggs in one basket” philosophy") and the rushing about, following this and that does get to be a spot of bother at times and if i had a “little electronic buddy” handy, it would be appreciated tremendously !

as for all your other choices, Im afraid i have to agree with your observations in total ---- what a wonderful world if you dont have to learn or do a thing, but your bank account keeps filling up !

THE DREAM OF ALL HUMANITY, is it not ?

for me, the assistance would be wonderful and no pension plan, medical, bonuses or meals — isnt that what technology is all about (putting people out of work ?)

enjoy and trade well

mp

Perhaps I haven’t given you your due Phoenix. Spot on. If an individual doesn’t know how to do something, how can they tell a “robot” to do it for them?

The question I have, at this point in my development is, if I am more successful than any “robots” I have heard of, why would I want to take myself out of the equation?

Yes, I do understand that, if I were a trader with a good many years watching charts and eventually knowing what to expect of the market at given times, I would want to create a way to simplify my tried and true methods during given periods of time when I could expect the market to act a certain way. Thing is, based on what I have been hearing recently, the market is moving in ways it hasn’t moved in a very long time. Atleast this is my understanding.

That being said, I don’t subscribe to the idea of “robots”. Ofcourse, I haven’t yet tried to create one, so, until I do, I have no use for them.

Again, spot on in your assessment of the topic and thankyou for taking the time to create a new thread to address it. Perhaps I am becoming more like you and don’t even realize it, or vice versa. Growth in a positive direction either way.

Good luck and good pippin.

pardon my intrusion yet again Phoenix, but chubspips - - - - - -

the MARKET IS MOVING EXACTLY AS IT ALWAYS DOES, only the day range has changed because of the influx of equities people now playing our game.

the equities peeps keep moving the one minute chart in what appears to be a whipsaw manner, but strangely enough the volatility is creating TREMENDOUS scalping opportunities although the trend plays take longer to come home to roost, but roost they do ! Because they are playing the one minute for so long, the moves on the 5 minute and 15 minute charts, which used to sneak in silently are now “wham bam, thank you ma’am” kind of moves, reached just minutes before the normal reversal periods, but since THEY have to be played also (its just part of the game) they are played almost instantly, leaving a lot of people who did not have a tp at the 15 min resist point gasping in awe and wondering just where in sam hill did THAT move come from !

the banks are keeping it within the boundaries they want with the only difference being the extreme range created by extreme volatility — its actually a really fun game out there now !

mp