Why not use Automated Trading Systems

Even though there are plenty of persons who complain about the automated systems of trading Forex, there are still lots of Forex traders who prefer using them as the major inspiration for trading as it is far easier to trade that way. But there are some side effects to it.

First of all, the system cannot be perfect as they don’t also include factors as sentiment, personal opinion, and money management. If you want all these elements to be taken into consideration by your automated system of trading, you have to spend lots of time inserting new data and the new factors which are to influence the trading market and the value of the currency pairs you are trading. This means that the systems are not completely automated; they still need a lot of effort and dedication from the behalf of the trader. This means that traders still need to be up to date with the latest trading news and with the way in which the trading sentiment evolves.

This means that, if you want to trade on the Forex market and if you want to be successful, trading based just on the advice provided by the automated systems of trading is not the answer. These automated systems have a good side, but this relates to the fact that they are able to follow and provide information about plenty of simultaneous events which occur on the trading market that cannot be entirely known by a single person. Observing and memorizing all the changes which occur on the market at every single moment is an impossible job for the mind of a single person. But trading based only on the information provided by the automated systems of trading is not advisable either. This is because the automated systems only take into consideration several factors which are just a part of the trading process. An automated system of trading cannot consider aspects such as money management and trading psychology and these are essential elements which lead towards success on the Forex market.

This means that all the automated systems of trading have a great use in monitoring the activity on the trading market and providing relevant data on the changes which took place on the market. They are useful only if the trader knows how to discern the information they provide and make decisions based both on the data given by the automated systems of trading, but also on their trading feeling and policy concerning money management. Such automated systems of trading can work as wonderful instruments which can help beginner traders understand the basics of the trading market and the elements they should consider when deciding their entry and exit levels, but a full, advantageous and profitable session of trading can only be the one in which the trader gets personally involved and for which he or she uses all the information available and a specific trading sentiment.

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