is really advisable to use EA for newbie?

[05071991R]

For newbies, it is better to trade manually if you are looking to learn about forex trading

 

[Spectrograph]

Imo, newbies should avoid trading with EAs. They should learn trading manually and gain experience for success in the long run. EAs are not 100% reliable as they have certain limitations.

 

[Siphonic]

My advice to all beginners would be to learn manual trading first before anything else. It is important to understand the trading concepts and develop your skills even if you decide to depend on an EA later on. This will help you a lot in the long run. Also it is quite difficult to find an EA that actually works as making profits is not an easy task even when you rely on an EA.

 

[Someecat]

However, you can use an EA to assist you, but this is not a good idea for a beginner trader. It is preferable to learn everything there is to know about the market and trading. It's a great way to ensure your continued success in the market.

 

[Angiosperm]

I don’t think that it would be a good decision for a newbie to use forex robots for trading. You may feel that it is easy to make money but it won’t be effective until you are a manual trader. It will be useless to use a bot if you can’t analyse its performance.

 

[Itu42]

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?

My advice, Learn,

don’t take shortcuts, there are no shortcuts because in order to be able to use the ea effectively you’ll have to understand the market regardless if your ea is working or not.

 

[kykelvin]

I think if you are just starting out, it is better to learn as much as possible about trading and try to build your own strategy. I don't think EA's are a shortcut for this learning and practicing process, because they are not infallible and you have to know what to do in case something doesn't go the way you want it to.

What if someone needs it to work for him and not interested in learning, will it be profitable?

 

[onomatopoeia]

There’s no harm for a newbie to use EA, but it should be done with the utmost mental control. EAs can be very lucrative to use for a newbie. EAs go by a fixed setting, and we know the market direction can form a new trend anytime. EAs may not give desirable profits or may not give the right signal all the time. A newbie trader should analyse and predict the market on their own. Relying on bots and EAs will not help you grow and learn about the market.

 

[Dora_WalletInvestor]

What if someone needs it to work for him and not interested in learning, will it be profitable?

I personally don't think it's a good idea to use one if someone doesn't know much about trading, it makes things that much more risky. That's just my view, though.

 

[anderson00]

i never use EA before but saw both profit and loss in using it

 

[williamdrake488]

Thanks guys for all the comments, i am also a newbie that would like to start

 

[Descrive]

I would not advise newbies to use EAs. Although most of the softwares available in the market is good, a beginner must learn on their own when to execute a trade, and how to do so. Many times, a suggestion given by the EA may not be accurate, or may not suit the trader’s strategy.
A trader must analyse his own trading preferences (risk level, profit target, number of trades, and capital ready to risk), and then frame a strategy accordingly.

 

[NadalEs]

I suggest beginners trade manually so that they can learn and comprehend trading so that they can also develop forex skills. It is also not safe to depend on EA all the time.

 

[Monopial]

I’d advise newbies to not to rely completely on EA. They should spend time developing their own analytical skills if they want to trade profitably in the forex market for a long term.

 

[5ebastian]

I suggest a new trader trade manually to understand the live market because trading with EA's can lead to financial losses if you do not understand the strategies on which they are based. It is very risky and can lead to great losses.

 

[Alexhunter]

Trading with EAs can result in financial losses if you do not understand the strategies on which they are based.

So I recommend that a new trader trade manually to understand the live market. It is extremely risky and can result in significant losses.

 

[GabrielFortran]

you should learn as much as possible before you get on with the technicalities. I have been trading for a few months now and just started to learn about them. If you don’t know how to trade manually, it would be harder to figure out if ea does it.

 

[Barnstorming]

Some people believe that once they start utilising cryptocurrency bots, everything will be OK, but this is not always the case. The three main pillars of cryptocurrency trading success are expertise, sound tactics, and experience. If you lack the necessary information, bots won't help you succeed.

 

[pippin]

Some people believe that once they start utilising cryptocurrency bots, everything will be OK, but this is not always the case. The three main pillars of cryptocurrency trading success are expertise, sound tactics, and experience. If you lack the necessary information, bots won't help you succeed.

It depends how you got that bot. If that is your proprietary software then you should know its ins and outs and be able to quickly discover why it loses money and find way to fix it. For paid bots you can only hope it won't go broke.

 

[YellowWitty]

EAs can be helpful if you learn from them. When you use them, understand their functioning, which could be helpful in creating your own strategies in future. But I have never relied on EAs completely. So, with time, it is good to learn manual trading as it is more effective.