In today’s fast-moving world, the role of automation and robotics is prevalent in almost every field. The integration of automation into forex trades is also on the rise. Traders are relying more and more on EAs and forex robots to augment their passive income flow that they can enjoy alongside doing their 9 to 5 job.
However, there’s still a lot of argument about whether or not one should switch to automated trading solutions or forex signals trading to optimize forex trading returns. This post will focus on comparing the manual trading approach with using the best forex signals for trading.
The one main thing that manual trading involves and that an automated solution doesn’t have is a human brain. Where an EA can only make decisions based on the instructions provided to it, a forex trader can take into consideration many things including current market situation, price fluctuations and the right time-frame for placing trades.
In addition to that, forex traders can make decisions based on the present situation. For instance, the impact of floods, earthquakes or other natural disasters can be well-handled by the manual traders than robots.
The market movement can be properly tracked by the manual traders only. Also, only a human can resolve whether or not he should hold or place the trade under certain market conditions.
However, one should hold substantial experience in order to respond well to the above mentioned situations. Yes, you got it right. It takes a great deal of intelligence and market proficiency to get the knack of forex market complexities. This is where the forex signal trading step in to your rescue.
Forex Signal Trading
Improved accuracy is certainly the biggest advantage that comes handy with the forex signals trading technique. Taking hint from experienced traders in the shape of signals help traders attain greater ROIs. Robots make decisions on the basis of forex signals and yields great results as they only place trades when the market signals low-risk situation.
The best bit? Automated trading lets traders carry out their routine business or job as back at home the robot is handling trades for them. Great, isn’t it? Through automated signals-based trading, you can capture those market opportunities that wouldn’t have been achievable if you were managing trades on your own.
Robots can work 24/7 unlike humans whose working is confined by numerous obstacles such as sleep, weariness, etc.
Lastly, EAs are not bothered by any human emotions such as greed, excitement, disappointment or fear. When it comes to forex trading, these emotions can be your biggest enemies. Thus, with forex signals trading, you can expect consistent results for a longer period of time.
They both have positives, but time is important
As mentioned above, both approaches land with their own pros and cons. The single biggest advantage of forex signal trading for any trader is it frees up their time and allows them to take part in other business activities to become more financially stable.
I prefer signals trading because I don’t have to analyze charts…
Manual trading can do wonders for you if you’re a seasoned trader and also get sufficient knowledge about assessment of charts, graphs and other diagrammatic representations. Automated trading, as its name implies is a solution with no human intervention, thus traders are not needed to do the market research and are not required to read or interpret the charts or other graphical illustrations.
Thus, if you have just set your foot into the forex market or even if you’re not too confident about your market know-how, automated trading is certainly the safest bid for you.
– Don’t have to make your own decisions
Decision making and forex trading goes hand in hand. However, making the right decision at the right time isn’t as easy as it may sound. For those who finds it difficult to make accurate decisions should seek help of forex signals to carry out their trades.
– Don’t have to waste your time
As an old adage goes, two heads are better than one. Instead of doing everything on your own, you should look for the reliable resources that can help you achieve sustainable growth and returns in the forex market. As forex signals service provide traders with all the important details, the traders are not required to waste their time in doing market research.
Conclusion – Forex Signals are Better!
Forex signals trading incorporates the best of both worlds – automated as well as manual trading. You can even use a combination of both approaches to create a perfect trading strategy of your own. According to babypips , there is no guarantee that a profitable forex signals service will deliver the same results after the passage of time. Thus, it’s important that you review the results on routine basis to confirm that you’re getting the similar results.
Plus, if you have decided to take your forex signal trading to the next level and want to invest in a forex robot, just make sure to do thorough research on your part before finalizing a software as there are hundreds of proclaimed bogus companies available online that can do more harm than good to your trades!