is really advisable to use EA for newbie?

[Ricter]

I don’t believe in what others say and that’s what I would recommend to you too. If you feel the need to use an EA, you must use it. But yes, keep your risks low in the beginning until you are sure about using the EA.

 

[Remiform]

Using EA is a good decision for newbies if he or she is unable to make an understanding of the market and patterns. But before taking assistance from EA, they should try to solve problems with knowledge and experience because complete dependency on EAs can be dangerous and can lead to losses.

 

[cashisking86]

I did this exact thing and it was the worst way to learn as I had to intervene but had no idea why or how. I am now of the opinion that EAs simply don't work anyway so save yourself the time and just focus on learning to trade.

 

[Pediment]

Taking shortcuts may not have future benefits as you start out. Rather, learn and build your own strategy until you earn profits. While an EA may be quite helpful, you can’t completely rely on it. Your plan may not always work, so you must be prepared with a plan B.

 

[Wordplay]

There are benefits of using EAs. Traders who are new to the market can use them to understand the working of strategies. People who have tight schedules can also manage their trades. Regardless of benefits, however, EAs have flaws. Hence, relying on EAs for a longer term is not advisable.

 

[Subfocal]

Forex EAs are quite helpful indeed, but since you are a beginner, I would suggest you learn by yourself. It is a common urge by newbies to take the help of devices and tools for profiting in the forex trade through a short cut method. But you should and must strive to master analysis of the market in order to become a good trader.

 

[Klaus.K]

I agree with most of the comments that newbies should avoid using EA until they have enough knowledge and experience in forex.

 

[HeavLeighGill]

I wouldn't say it's necessarily bad unless you're expecting the EA to make you rich with no effort. Be sure that you know how things work before you try it.

 

[pumlley]

For me, manually trading before using a Trading EA is the best course of action because if you're not sure what's going on, your Trading EA may be of no use to you. Learning to trade manually is really important for success in the long term.

 

[chris12300]

I do not believe in plug and play EA. EA is great when used as a tool when you have learned basic

 

[Asteism]

If you are just starting out in trading, it is strongly recommended that you educate yourself about the market and engage in manual trading. It will assist beginners in honing their trading skills and expanding their market knowledge.

 

[pawned]

I think its better to trade manually starting out so you understand price action. If your bot starts taken a bunch of losses and by looking at the chart you dont understand why, that doesn't really help you. But if you understood price action from trading manually, you can adjust your bot to for settings/conditions that fit the trading environment,.

 

[Bumbledom]

Many new traders are using EAs for making profits. Imo, new traders should not prefer using them as they restrict the learning process of a trader which is very important for making consistent profits.

 

[Radclliff22]

EA can be profitable, but as a beginner, I suggest using manual trading so that you can learn more about forex trading and build new skills or strategies.

 

[royalp12]

Hi forex experts,

i am starting my journey in this forex trading...
is using EA the best way to start this? what is your opinions?

Using EAs are not the best way fror newbies to learn FX.

 

[fade]

ad say it depends on if you understand how it works

 

[oakum]

dont go for ea . learn basics like support resistance and chart as many pairs possible and come back and see your results. this way you what you did right and what went wrong alld best

True! Even though EAs are profitable, they have certain limitations. Newbies should avoid using them. They should learn to trade manually for achieving success in the long run.

 

[Quibble]

It is recommended that new traders do not depend solely on EAs and instead trade manually. Although EAs are helpful, as a beginner, your primary objective should be to learn and comprehend trading. Then manual trading is the way to go.

 

[Chorology]

If you just started your journey, you can use an EA but for long term use, it is not advisable. Traders must use their own wit, knowledge and skill to grow their account. Understanding the terms and conditions of the market is important to survive in the risky market environment.

 

[Contraband]

As a beginner, it is best to develop your trading skills. Gather as much knowledge as you can, and upgrade your level. Relying on EAs from the very beginning can hinder your growth. However, you can use EAs to double check your analysis and prediction of the price direction. But many beginners forget this line, and start completely relying on EAs for ease. This will hinder their growth and they might not make it to becoming a successful trader in the long run.