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Manual Trading or Algo/EA Trading?

Discussion in 'Forex Trading Systems and Strategies' started by Passiontrader, Sep 26, 2019.

  1. Passiontrader

    Passiontrader Private

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    Hello Traders. Just curious which way of trading do you prefer and why? First off, to each his own! Myself, I prefer to be hands on. If anyone is going to lose my money I'd rather be me than some Bot lol. I enjoy the challenge of managing my own trades and I'm the only one accountable.
     
  2. FoxSneaks

    FoxSneaks Recruit

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    I think everyones different and I do like the rush of trading manually but my emotions always get in the way. I used to trade manual while I was learning with next to no success and a lot of money lost. I've been using EAs off and on ever since and I've been using the same one for quite some time now that has been nothing but successful. I've found it really interesting seeing what trade the EA has taken and trying to analysis the chart to see why the EA took that trade. That's just my point of view but I don't think I'll ever be able to go back to manual trading honestly.
     
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  3. Passiontrader

    Passiontrader Private

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    I get how it would be interesting seeing what trade the EA puts on and then analyzing chart to see why. I agree, I would do the same if I used EA.
     
  4. FXphoenix

    FXphoenix Recruit

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    It is always interesting to be hands on...study the news...wait for markets to open...I did manual trading on my own (started with demo acc.) and it really took a lot of patience but I enjoy the learning steps.

    Happy trading!
     
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  5. goncalos

    goncalos Recruit

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    By far EA trading, that is making me far more money than any previous manual trading, you just have to know where to look for the right ones. There are some real gems, and some for free!
     
  6. fxmonk

    fxmonk Recruit

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    Personally, I rather manual trading. I prefer to fck up on my own ;)
     
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  7. Passiontrader

    Passiontrader Private

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    Can you share your "gems" ? ;)
     
  8. A Wise Trader

    A Wise Trader Recruit

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    Without question, both. A blended approach to a specified range of targeted profits per specified time frame. When you have taken the time to research, design, test, optimize and build the right set of decision support trading tools, then operating your trades using a blend of both becomes a lot more doable.

    If you have not coded the EA, or if you have not designed the EA, or if you did not participate in the coding or design of the EA in some meaningful way, then you are playing Russian Roulette without knowing anything about Russian Roulette. So, you are playing a game without an understanding of the mechanisms behind the game itself. That's more than dangerous. That's the very definition of foolish.

    Or, you can just trust everything to the EA Developer. However, when you do that, you've done nothing more than what an Investor does when capitalizing a Hedge Fund. At least with the Hedge Fund you get a Prospectus and a synopsis view of how the fund goes about managing its capital. When you turn it all over to the EA Developer and you know basically nothing about why or how the EA succeeds and/or fails, then you have just transitioned yourself from Active Proprietary Trader to Passive EA User. Such an individual might be better off going with a Hedge Fund. At least there you get some professional management, a prospectus and some insight into what the fund actually does with your capital.

    I sometimes us an EA that someone else coded. However, I designed, wrote and edited the Specs to be coded. I know exactly what the EA does and can track its behavior to the letter of the Specs that I designed. I designed the trade logic and both indicator and signal logic that drives it. That only thing I did not do was code the MQL. That's because I'm a Trading Systems Designer and Trader, not a Software Developer. Two entirely different worlds and precious few people on earth can do both exceedingly well.

    I've met a few good Traders and a number of good Developers, but I've yet to meet the individual who really stood out doing both to a high level of success.
     
  9. Passiontrader

    Passiontrader Private

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    Thank you for your input, I appreciate it!
     
  10. A Wise Trader

    A Wise Trader Recruit

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    More than welcome, Passiontrader!
     

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