Many people are now using the automated software in their trading platform and they do not know how much help it is for them. The traders have a misconception that if they use automated trading software, this software will place the trade for them in any markets and they can have profit without doing anything. This market is not that easy that some software can identify the trends successfully and money easily. You will need years after years to make money in Forex and you may not succeed. This automated software can destroy the future of traders’ career and this article will tell you the risks of this software. The trading community thinks they are only good when they are full of worst things. This article will open your eyes and you will know your strategy is best that this trading software.
The automated trading system is very much popular among the novice traders. They rookie Aussie traders are willing to spend a huge amount of money in the retail trading industry since they don’t know the simple way of trading this market. But do you really think EAs and bots will help you to become a profitable trader? If it was so, no one in this world would have lost money in currency trading. You might win some big trades using the automated software but considering the long-term output, you are ruining your trading career.
The manual trading system has always been the best trading system in the world. All the professional Aussie traders use manual system in the Forex trading industry. They do technical and fundamental analysis prior to the execution of their trade. They never take any risk beyond their risk tolerance level.
They do not work in change market trends
The riskiest thing about this trading software is they do not work in changing market trends. If the market that you are trading has changed, the software cannot identify where the trend is going. The programmers who have coded this software has only made this based on the history and past market trends. They are not like professional Australian traders and they do not know how to predict the trends. The things that automated software do is analyze the market, try to put in in any given frame of their software and predict the next trade. If the markets change which it always does, this software will not work. Before you trust this software with your money and think they can trade the market for you, know this software has many limitations.
Only helpful in past market history
This software is only helpful in past market history. Most of the time there are possibilities that the past trend will be repeated in currency trading. This possibility is all the thing that this trading software is developed by the programmers. Most of the time you will find on the advertisement that how successfully they have predicted the past records. You will not find any advertisements where they have predicted the recent trends of the market. It is because they are all coded to only analyze the past market trend. If these trends do not show up in your chart, this software cannot work.
Only strings of command, no artificial intelligence
You may have been convinced by their advertisement which disclaims that they have used the most advanced artificial intelligence in their software. Their trading software has 100% accuracy of predicting the market right. All these are fake and you will find out when you have paid the money. Do not trust the reviews that you see o those sites. Most of them are fake and paid to misguide the traders’. They are only some command programs which only work in a specific situation. The Forex market is no match for them. This market is evolving and even the most advanced trading software can become vague.