Do you prefer to use EA? - page 4
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For a newbie better to avoid EAs or live account.
Hi on your opinion why do we have to avoid EA as a newbie?
Hi on your opinion why do we have to avoid EA as a newbie?
Because it should be done step by step. And live account and EAs are the last steps of learning, not the first ones.
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Here is just one quote :
"The average individual foreign-exchange-trading victim loses about $15,000, according to CFTC records" according to The Wall Street Journal.[SUP][3][/SUP] The North American Securities Administrators Association says that "off-exchange forex trading by retail investors is at best extremely risky, and at worst, outright fraud."[SUP][4][/SUP]source : Foreign exchange fraud - Wikipedia, the free encyclopedia
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What are the odds that a newbie that starts straight away with a live account and an EA promising richness will avoid the "loses about $15.000" group?
I've read many here are not in favor using EA and prefers manual.For me,using EA is just okey coz it makes trading decisions.EA forex trading makes it easier for newbies with limited knowledge to trade.Main advantage of EA is to get rid of emotions but it has no guts like manual.Manual trading can enhance/ train our ability/skill to make trades.But maybe as a newbie I should concentrate more in manual to gain knowledge and experience.
Trading decisions of an average EA are at a level of a 5 year old kid. Better to learn manual trading first before trusting any EA. If someone does not know to trade manually, trusting an EA is not trading but gambling
Trading decisions of an average EA are at a level of a 5 year old kid. Better to learn manual trading first before trusting any EA. If someone does not know to trade manually, trusting an EA is not trading but gambling
thanks for your input and your advice to use manual if you are still a newbie.I realize that manual will help me practice more on my trading strategies and decision making.
For newbie traders, I think EA is not recommended. It is most suitable for experienced traders. Instead, newbies can try manual trading first as to guide them in developing their own trading strategy. Then, they can use EA afterwards. That's the idea I got from some posts made by other traders too.
For newbie traders, I think EA is not recommended. It is most suitable for experienced traders. Instead, newbies can try manual trading first as to guide them in developing their own trading strategy. Then, they can use EA afterwards. That's the idea I got from some posts made by other traders too.
I also got the same advice from other forums to use manual first to develop a new trader's skills and understanding of the financial markets.Anyway,thanks for your input.
I do not trade live yet because I'm still trying a demo account. But per my readings, I've learned that EA is not suggested for new traders like me. So, I think, I'll be trading manually when I decided to begin the actual trading.
I do not trade live yet because I'm still trying a demo account. But per my readings, I've learned that EA is not suggested for new traders like me. So, I think, I'll be trading manually when I decided to begin the actual trading.
Well,I wish you goodluck and good learning in your forex trading.Hope we can interact more often as we progress our learning.
I like EA's though its rare to find one that i can really get behind.. Im a big DD guy.. I stay away from it best i can.. So when i see EA's that can make 100000% a month-- but have even larger % DD's i stay clear.. Give me a smaller % monthly with less risk and im happy..