Vote for: Manual Vs EA trading

[MUA]

I am new here and so far this the best forum on forex!:)

 

I have just one question.

 

Whic one is better? Forex trading Via EA or manual trading for the beginner?

 

 

I know those are efficient manual trader will say all EAs are rubbish.

 

But most manual trader use various indicators in there manual trading execution. Then If an Ea works with the help/signal from same indicator then I believe the EA should work.

 

Please vote either for ..

 

A. Expert Advisor

Vs

B Manual trading.

 

Your answer will guide me to pursue the world of forex![-O<

[San4x]

C. Both.

 

Run EAs for the extra income. Pick low-risk EAs and steady performers. Don't expect to be a millionaire by next week. Just let them run and do their thing: grabbin' pips.

 

Trade manually for the big income. You do need lots of chart time tho to understand the patterns and get a 'feel' for a pair. Also here the same rule applies: don't fall for the hyped systems. Keep it simple. Study the charts. Then study them again. Practice (x3). Oh, and don't look for the magic indicator that will lead you to riches. Instead, invest in yourself and look for your own magic indicator...coz it's you. Learn how to stomach losses. And to celebrate wins.

 

Good luck.

[monstar]

A

 

You can't replace feel and subjectivity with an ea. The human mind is truly awesome.

But there are eas that consistently make profit in the medium term.

[⭐ megashop]

the best solution is, learn to profitable from manual system, then if u success try the expert advisor, if u on manual still losing n losing, dont try to use expert, coz u will loss bigger at the end.

[scwon]

I don't understand everyone's facination with EAs. I have yet to find one that holds up.

I vote 100% for Manual Systems.

[MUA]

IF you all agree for manual trading then why in this forum most of the "view" and "reply" are in Metatrader Expert advisor sections.

Only few post in manual trading section. I am confused.:-?

 

In myfxbook , there are many automated trading system that shows consistent results. Are they all FAKE?@-)

 

and Is it possible to earn 10-20 % per month if i use mixture of 5 reasonable good EA..with sensible lot size and SL/TP.

I am relatively new here so i want your wise advice.:)

 

Thank you all for your earlier and future reply.^:)^

[Guest David1713006337]

C. Both.

 

Run EAs for the extra income. Pick low-risk EAs and steady performers. Don't expect to be a millionaire by next week. Just let them run and do their thing: grabbin' pips.

 

Trade manually for the big income. You do need lots of chart time tho to understand the patterns and get a 'feel' for a pair. Also here the same rule applies: don't fall for the hyped systems. Keep it simple. Study the charts. Then study them again. Practice (x3). Oh, and don't look for the magic indicator that will lead you to riches. Instead, invest in yourself and look for your own magic indicator...coz it's you. Learn how to stomach losses. And to celebrate wins.

 

Good luck.

 

Ditto! I agree 100%

[Guest David1713006337]

I don't understand everyone's facination with EAs. I have yet to find one that holds up.

I vote 100% for Manual Systems.

 

As a full time trader for 16 years in the forex, I can tell you that to date, there has never been an EA that trades with consistent returns in all market conditions. Stick with learning a manually traded system and become comfortable with same.

 

When you become comfortable trading the forex, go purchase the STAR System mentioned in this forum. There is no better manually traded system.

[MUA]

Thank you all, sir.

 

I am learning the basics of manual trading. Can you recommend any video course to learn manual trading more efficiently?

[Red_Bull]

- Manual trading is the best - Because I believe in trade what you see -

[Guest David1713006337]

- Manual trading is the best - Because I believe in trade what you see -

 

Also, I know of no professional trader that uses an ea. This is for several reasons.... broker manipulation, server problems, trading computer failure, and the list can go on and on. Let's really think about this... if you had thousands and thousands of dollars in your trading account, are you going to let your computer trade large lots in your absence and potentially get wiped out due to one of dozens of things that can go wrong at any given time? I trade manually and I want to be the one that controls my trades, not a program that is designed by another that is a disaster waiting to happen. So realistically, when you start trading full time as I do, you won't want to go near a robot.

 

Red Bull, I was going to give you a "Thanks" but I exhausted my daily "Thanks" limit. I will return and give you one when they replenish. I disagree with the limiting of "Thanks" and this was not a feature they had on the old forum when I was a moderator.

 

Update: My "Thanks" button is now showing and as promised, you got one from me Red Bull.

Edited April 21, 2011 by David

[pro]

My clear vote for EA trading AFTER learning to trade manually:)

[MUA]

My clear vote for EA trading AFTER learning to trade manually:)

Very encouraging!

[maddman]

My Vote is for Manuel Trading, because I do not have money for the toilet... Maybe you do?

[MUA]

My Vote is for Manuel Trading, because I do not have money for the toilet... Maybe you do?

10 % permonth may be very low for you but if a mixture of EA can generate 10 % per month then i will be more than happy.

Thats why i am asking in this forum.

[MUA]

And the Manual traders may be afraid of a good EA's potential. It may be the reason why most of the traders are abhorrent about EA. Is that correct?

[Trader Jack]

Manual -- Manual -- Maanual There will come a time when you will loose your money all of it with an EA!

[soundfx]

And the Manual traders may be afraid of a good EA's potential. It may be the reason why most of the traders are abhorrent about EA. Is that correct?

 

Not correct at all lol.

 

EAs are just computer programs normally with very little logic, so there's nothing to be afraid of here :) They are the ultimate in discipline because they will take all signals (including the ones which are obviously going to lose from the external observer's point of view ;) ).

 

As others have advised, use EA's purely to gain some "pocket money" (assuming you're lucky) if you don't have time to trade manually.

 

Markets change and manual traders can adapt to this, however EA's cannot unless their logic is continually tweaked.

 

It's easy to make EA's look impressive in marketing material and there are various tricks for doing this though don't believe any of these so called performance results.

[maddman]

Please allow me to tell you what will happen, as it's happened to me and many many others, and you will be no exception. EA's work for a while, however they cannot change to changing market conditions. When the market conditions change, they will get stuck and they will take all that you made and mostly all your capital as well.

I know this may sound difficult to understand but it's true. All EA's suck and fail, the entire Forex industry is full of people selling BS and profit from selling BS, maybe you don't know this yet but in time and money lost you will.

Believe it and learn manual trading and you may succeed, You must have an edge to succeed. Please learn Gratley trading and you'll have an edge. Good Luck, if your not listening to me put a fork in it, your done...Please start listening to what some of the senior members in this forum are saying, Good Luck.

10 % permonth may be very low for you but if a mixture of EA can generate 10 % per month then i will be more than happy.

Thats why i am asking in this forum.

Edited April 22, 2011 by maddman

[MUA]

Are all of these automated system SCAM?

http://www.myfxbook.com/systems

[maddman]

MUA, I've looked at the systems, there are many. I'll keep this short and to the point. All automated systems fail, soon or later, I and my friends have tested hundreds of EA's, all failed. There never to date has been a successful EA created. The entire FOREX Industry is full of Unprincipaled Opportunists that will take your money with a "GREAT Advertising Campaign", and Colorful Websites that give the impression that when you buy their EA, that "Sweet Jesus will be knocking at your door", and then put you on the email SUCKER LIST and try to sell you something else next week. There is no HOLY GRAIL, to make money as a trader you will have to earn it by learning to trade Manually, not by a Robot that is destine to fail. Even data sheets can be manipulated. Trust my judgement it took me and thousands of others time and money to learn these words.

Are all of these automated system SCAM?

http://www.myfxbook.com/systems

Edited April 22, 2011 by maddman

[maaartinfx]

I have a question for San4x and David, what is the "low-risk EAs"? could you list those things that you think "low-risk". I tried so many EAs as well as you guys in here, and now Im using some commercial EAs and my own EAs. 3-5% monthly. thanks.

[MUA]

Ok now I agree manual is far superior. EAs are just for little gambling.

Can anybody advice/Recommend any good video learning course for manual trading. I can invest 3 month in learning, then 6 months demo practice then i will go live with cent account.

Thank you for guidance and kudos to all.

 

PS: Can anybody Recommend any good video learning course for manual trading.

[Capella]

Some throughts... I'm a professional trader since many years (= trading managed accounts for clients), but I also have a background as a computer programmer. So manual trading and automatic trading using EA's are two different ways to trade, and they can both be used for live trading.

 

- I truly believe that one must learn how to trade live before using any EA. First you trade manually on demo-accounts, at least for several months. And when you are confident enough, do it on a live acocunt with a minimum of money; money that you can afford to loose.

 

- You must understand money management and how to keep the risk low. The goal can never be to earn several hundres of percentage within a short period of time, but to earn a little but steady profit during a long period of time (years). Don't stare at the profits and the profit curve, but look at the drawdowns and losses. And learn and understand what to do to keep them as low as possible compared to the profit.

 

- There are hundreds of EA's out there. Commercially and free ones. Some are good but most of them are of low quality, and some also real trash. You must understand why someone would make a good EA and then decide to sell if for $39, $49, $99, $149, or whatever they cost. They want to sell thousands of them during a short period of time. Because they know that their EA is not good enough in the long run. And it's easier to earn a few hundred thousand dollars within a month or so by selling a hyped EA than earning the same using their trash EA trading on a real live account.

 

- If you decide to use EA's for you live trading. Then diversify, use several EA's that uses different strategies. Trade with the lowest possible risk settings. Monitor the EA's. Because the settings must be adjusted. Run the same EA on a demo-account. And use the StrategyTester to fine tune the settings after some weeks or so. Also, for those EA's that work for several pairs, stick to one pair at a time.

 

- Choose brokers with low spread, who are STP / ECN, and who are regulated.

 

- The pros and cons with manual trading is, that you cannot program gut sense and feelings, something that manual traders use. Manual trading fits best for longer time frames, and it's impossible to trade 24 hours a day for 5 days in a row. Using EA's on the other hand, makes it possible to trade 24/5. EA's tend to work for certain conditions, and trading conditions can and will change without prior notice, so they always need to be adjusted. EA's can trade effectively for short time frames, and I think they are best suited for that. Finally, manual trading and trading with EA's are not either or, but can be combined.

 

Much more can be said!

Edited May 2, 2011 by Capella