It is observed recently that greater percent of forex traders are now interested in automatic forex trading which has led to the development of so many expert advisers or robot to take control of their currency trading. In adopting this approach to trading, has it actually yielded any significant result comparable to traditional way of trading? In the next few minutes, the I'm going to do some analysis to see automatic currency trading actually justify the advantages over manual trading.
Lets look at the issue of PROFIT MAKING. If you have a good strategy in dealing with foreign exchange market, there is nothing stops you from making profit as many times as possible by opening and closing positions manually but the in the situation where your manual strategy fails to the extent of making losses. Would you have the confidence to still stick with the strategy? If care is not taken you might end up jumping from one idea to the other and there is limit to the level of profit you can make.
Using expert advisors (EA) or robot, you have no control over the program that was used to develop it either making profit or not. But it has been proved that if you have a good EA, irrespective of the situation of the market it will have its own period of peak performance where it will bring unexpected profit, provided you stick only to the currency trading robot you are using.
Another point is HUMAN EMOTIONS in trading foreign exchange. If you are too emotional in circumstances of life you will find it difficult to cope with forex market. Although some fx traders that are emotional at times get nice result around this but at the end of day they will course to blame themselves. In automatic forex trading there is no room for human emotions which can affect decisions. It opens and manages trading positions without you being there.
In manual trading ability to trade more than one currency pair is limited because of the problem of analyzing market before taking positions but in automated forex trading many currency pairs can be traded without any restriction or extra effort.
You do not have to be with computer all the time and trade any time you feel like using automatic forex trading software. You will not need to miss any profitable trading opportunities. If you are new to online currency trading you can start enjoying the benefits it brings without being a professional.
Back to the main reason of this write up, from the above statements and other points that are have not been touched. It is obvious that automated forex trading has made a lot difference in the world of foreign exchange. No doubt about this.