Manual Versus Automated Currency Trading - Which One is The Best and How to Use Them
Manual Versus Automated Currency Trading - Which One is The Best and How to Use Them
The 2 major means of trading are manual and automated currency trading. Both are good in their own way. The new comers to trading market find it difficult to decide that with which system they should take a start. This article may help them in this aspect. It will discuss the main features, advantages and disadvantages of both methods.
Manual currency trading is being used by the traders since the trading started. But now the manual trading has been changed a lot due to the new technologies. Here are some of its advantages and disadvantages:
o In manual trading a trader has to make all decisions himself so it's a bit difficult task
o As in manual trading human effort is more involved so it's more reliable than automated trading. Therefore most of the experts prefer to follow manual trading.
o Time taking activity. But due to new softwares you don't need to spend much time sitting in front of the computer.
o In new technology softwares, all the data is collected, filtered and provided to the trader and then on the basis of those results a trader can easily take decision. For example the latest software that assists in manual trading is Forex Rebellion. It filters the failing trades from successful trades and shows the result to the trader. In this way a trader does not need to analyze the entire market for winning trades.
o The human brain can never be replaced by any of the software or robot. Trading market is very unpredictable. Any unforeseen situation can occur any time. In such a situation robot gets failed but human brain can always make some alternate solution.
Automated currency trading is another way of trading. It's a modern system of trading in forex market. It is gaining popularity among many people. In automated currency trading the softwares and robots are used that do almost the whole task for the traders. The strategies, decisions and techniques all are made by the robots. Some of the famous software are Ivybot forex, megadroid and FAP turbo.
o A trader does not need to spend hours and hours in front of the computer because even the decisions are made by the robots.
o These softwares and robots are very easy to use.
o Because of the simple functionality and easy money making mostly beginners prefer to use automated trading.
o The use of Artificial Intelligence concept in the robots has improved the reliability.
o These robots give profit for short time span because these robots are mostly built on for solving the specific situation that exists in the market. When the situation is over the robot also becomes outdated.
o Most of the automated robots do not commit what they claim.
o Although some of the robots give profits for long time due to built in RCTPA technology used but even they fails when any unforeseen situation occurs.