If someone granted me one wish about what I could change about the forex traders, it would be this cult-like following that they have towards forex trading robots. When did traders become programmers? When did traders want someone or something else doing the trading for them?
I wish I was in the minority with this stance, but sadly I am not. Judging from all of the sales pages and thousands of forum threads I see dedicated to this subject, I see that they are unfortunately a very mainstream way of how the modern trader thinks of trading the forex market.
Gone are the days, when a trader would have to use their own intuitive skills to decide whether they should buy, sell, or be out of the market. Now, we seem to have outsourced that responsibility to an inanimate piece of software...and you wonder why most people lose money in trading??
People think that they can be filthy stinking rich in forex trading by simply pushing a button. I'd be laughing at this kind of behavior if it was just a small percentage of the trading public, but it's not.
To all these people, I have to ask...if it was really this easy, then wouldn't all of us be rich? What would be the point of actually going to school or going to work, etc...? Everybody would just play their little video game (sorry...trading robot) while sipping margaritas at the beach.
Come on...we should be a lot smarter than this. You should know the market cannot ever be programmed in such a systemic way. A + B will not always equal C in every case. Forex trading does not work like that. In fact, no trading market will ever work like that.
We'd all love to get rich without doing any of the work, but unless you are born into a rich family, then you are going to have to pull up your sleeves. Forex trading is no different than any other business, in that sense.
When it comes to forex trading, this means actually understanding the underlying reasons why the market moves in the manner that it does. This means a good understand of technical and/or fundamental analysis. Start looking at your charts and think outside the box. Start looking at the price action, not your indicators.
Subjectivity and analysis is what truly separates traders, not the toys they use to trade with. You could have a million dollar trading platform, and if you don't have the ability to think subjectively, it simply won't matter.
I wish I was in the minority with this stance, but sadly I am not. Judging from all of the sales pages and thousands of forum threads I see dedicated to this subject, I see that they are unfortunately a very mainstream way of how the modern trader thinks of trading the forex market.
Gone are the days, when a trader would have to use their own intuitive skills to decide whether they should buy, sell, or be out of the market. Now, we seem to have outsourced that responsibility to an inanimate piece of software...and you wonder why most people lose money in trading??
People think that they can be filthy stinking rich in forex trading by simply pushing a button. I'd be laughing at this kind of behavior if it was just a small percentage of the trading public, but it's not.
To all these people, I have to ask...if it was really this easy, then wouldn't all of us be rich? What would be the point of actually going to school or going to work, etc...? Everybody would just play their little video game (sorry...trading robot) while sipping margaritas at the beach.
Come on...we should be a lot smarter than this. You should know the market cannot ever be programmed in such a systemic way. A + B will not always equal C in every case. Forex trading does not work like that. In fact, no trading market will ever work like that.
We'd all love to get rich without doing any of the work, but unless you are born into a rich family, then you are going to have to pull up your sleeves. Forex trading is no different than any other business, in that sense.
When it comes to forex trading, this means actually understanding the underlying reasons why the market moves in the manner that it does. This means a good understand of technical and/or fundamental analysis. Start looking at your charts and think outside the box. Start looking at the price action, not your indicators.
Subjectivity and analysis is what truly separates traders, not the toys they use to trade with. You could have a million dollar trading platform, and if you don't have the ability to think subjectively, it simply won't matter.
The key to trading the forex market comes down to price action.
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