Forex Expert Advisors Is Manual Trading A Thing of The Past?August 18, 2023
Forex Robots or Forex Expert Advisors were initially aimed at people who were looking to get into Forex but were unable to watch the market due to other commitments. Manual trading means just that you have to trade manually which means watching and analyzing the markets constantly,Guest Posting this for many people is not something that is possible, due to their lifestyle or work arrangements. An Expert Advisor does just that it allows you to trade Forex automatically, buy, sell, and close without you ever having to be at your computer.
Also, most Expert advisor’s have the functionality and power, if authorized, to automatically place trading orders, or cancel them, buy, sell, and close all Forex positions on autopilot for the trader
The Beauty of Forex EAs are that they exercise unmatched discipline when trading. The Main problem with Trading Manually is us! Human emotion such as greed, fear of loss and poor money management mean only 95% of Forex traders win trading the Forex. To become profitable at Forex you must conquer your own worst enemy, you!
A good Expert Advisor is designed to evaluate lots of different indicators trends and parameters all at the same time to judge when best to trade. It performs so many more calculations than any human could keep an eye on at once. They are designed so that Human emotion never jeopardizes a trade. It only performs trade set by how it was designed, it will never get greedy, it will solely do what it was designed to do Make you money.
So if you are looking to trade Forex or you already are and you want some more free time, an Expert Advisor is a must. With so many of the around thou, you do have to be wary of which Forex Expert advisor to use…Why? Because Most of them have only been back-tested, these results are often irrelevant or easily manipulated, you need to look for robots or Expert advisors that have current results.
Unfortunately very few do because most of them are not as profitable innovation advisor as they want you to believe that they are, so you need to very careful which Expert Advisor you choose.
Remember Live forward tests are the closest results to letting you know if that expert advisor is profitable or not and if it can actually make you money, most Expert Advisors hype up there sales page with back testing reports you simply cannot base your judgment on these results anymore. The golden rule is do not purchase any Forex Expert advisor that doesn’t provide live forward test statements.
Another excellent advantage of an Expert Advisor over Manual trading is the time you devote to Forex trading is an expense which with an automated Forex Expert advisor can give back to you. The drain on your time spent analyzing the current market news, trends, conditions, currency trade probabilities, and currency market forecasts, depletes your time and resources for other profitable projects you can be doing.
Manual trading must never be over looked a Forex Expert advisor is only as good as it was programmed. With all the current market and economic fluctuations, Forex Expert Advisor software is unable to adapt, unless the software is updated on a regular basis, which the good ones are. If tomorrow the Market in Japan crashed and you advisor traded before this news you could either make a killing or lose a lot of money. But overall a good Expert advisor will make good constant trades although you will have some losers your account should always be in profit.
Even if you are a full time trader a Forex Expert Advisor must be a serious investment, the time saved the profitable trades the more money for you and the less heart ache spent in front of your computer or reasons why you should be looking at the software.