How Effective is An Automated Forex Trading Software ?
There is every possibility that most traders have come across the various advertisements of these trading software in the course of trying to make it big at trading. In fact, some of the adverts claim that you can make a whole lot of profits using their system without having to do anything. This sounds tempting and unfortunately many have fallen for this. However, in light of all these, one is tempted to ask if this really works the way it is being portrayed. Anyway, this article looks at the issue a little deeper and the findings will surely repel you from those offers that seem so tempting.
First of all, note that Expert Advisors which are this trading software allow for the automation of the trading processes when installed on your trading platform. However, the real issue is that this software is expected to determine your buy and sell. In some cases, there is something that looks like a guarantee by offering you the options of choosing the number of lots and makes it look like there would never be a manual error.
In fact, it promises a no human error but does it not make it look somehow suspicious? Yes it really does because a look at how they have worked so far shows that they are unsustainable, unrealistic as they proof cannot stand the test of time.
Sometimes, they demand that you integrate huge stop losses that are even as big as your account. However, this has proven not to help as unfavorable market condition ends up could make the trader lose profits and even their account. Besides, this will also go to show that the trader has really not understood the meaning of price action and it can be likened to someone who is naive just delving into the market with just hope and extra trust issues. Therefore it does not pay at the end as the bubble surrounding the whole system bursts leaving with fury and frustration and a sense of being cheated after the loss. Therefore the best way around this is still the use of the human brain with the ability to interpret and understand the price action in the market. Yes, many people may feel this system is old and conventional and need something to make things happen faster but note that it is still the best formula that have stood the test of time.
Therefore, do not make the mistake of putting your trust or relying on these artificial systems, the human capacity and the human brain remains the best, you should keep faith in them. There is a possibility that some of the biggest traders of our time may have also used some software at some point but note that the human brain supersedes any technology or creation in this regard. So this should not discourage you and put you in a position where you lose faith on the human ability and embrace software. However, if artificial intelligence is developed then the story may change but till then there is no substitute for the human mind in this situation. Therefore, you are encouraged to rely on your natural tool, sharpen them and make them refined for the task. When you have done this, work out your path and follow it.Start Trading Now