is really advisable to use EA for newbie?

[rosenkranz]

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?

 

[Dora_WalletInvestor]

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.

 

[Alex@nder]

For newbies, it is better to trade manually if you are looking to learn about forex trading because manual trading helps build strategies and money management skills that can bring in consistent profit.

 

[Cologne]

To understand how an EA trades, you need to know at least some of the basics of forex trading.
But trust me, it’s better to stay with manual trading. There is no EA for sale that is profitable on the long run. You will be scammed, first by paying for an EA, second by losing money with it. The only ones that get rich are the creators and brokers.

My advice: start with learning about money management, support & resistance and trendlines. Don’t be fooled by people who claim to have a magical indicator. Indicators are always lagging and tell you what happened in the past. Your eyes and brain can see and interpret what happens real time.

 

[Aldo-Jr]

Newbies should actually avoid using EA because an EA would not help a newbie to learn on how to build strategies or money management skills.

 

[Sherverty]

Lots of people are enticed to the markets by guarantees of gravy train by means of day trading robots or professional consultants (EAs). An EA, or trading robot, is a computerized trading program that runs on your computer as well as trades for you in your account. Selling robots and also EAs online has ended up being a significant business, however before you take you plunge there are things to think about.

 

[jaspergoh]

You should learn through manual trading first. EA is good to remove trading emotions and trade when you need to rest but it is not foolproof.

 

[Bennington]

For newbies, I suggest trading manually instead of EA because newbies need to learn about the forex market and also build various strategies and skills to make consistent profits.

 

[jize]

Lots of people are enticed to the markets by guarantees of gravy train by means of day trading robots or professional consultants (EAs). An EA, or trading robot, is a computerized trading program that runs on your computer as well as trades for you in your account. Selling robots and also EAs online has ended up being a significant business, however before you take you plunge there are things to think about.

My advice for newbies is to gain proper understanding of the forex market and understand how it operates . It’s not advisable to use an EA as a newbie because most forex robots do not utilize good risk management plan and as such you have to be knowledgeable in risk management before you can invest in any forex robot as this would help you to choose the best robot to use

 

[xpassionzxc]

For a newbie, I feel its best to trade manually first before proceeding to using Trading EA because if you're unsure on whats going on there will be chances that your Trading EA will reach margin call and you will not know how to react to the situation.

 

[Deam.Hender]

I would suggest newbies avoid EA during the initial stages of trading because if newbies use an EA, they will not build new strategies or skills, which is important in forex.

 

[N Ace]

Better to start with learning the basics and try manual trading using Demo account. EA perhaps for later part of your jouney.

 

[Styxed]

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?

for sure is a Big NO

 

[Daantje Pieters]

New traders should trade manually. It is not possible to share accurate knowledge with new traders, but it will be very difficult to make a profit. I have made a profit by trading for a long time. But it took me a long time to get the right education.

 

[Frank Rogers]

If you’re starting out, you should start with basic trading strategies.
EAs are not completely accurate, and there is no guarantee of profits.

However, you can use EAs to learn how strategies work, rather than how to make money out of them; in return, this will help you create your own strategies.

You can take help from other traders in understanding how the EAs work because some run on complex trading strategies.

 

[mlawson71]

In my opinion, newbies should avoid EAs. EAs can be great, but one needs to understand how they work to use them properly. If you barely understand how to trade, you can't really understand how an EA works.

 

[shortham]

As a newbie, your consideration is not to spot maximum opportunities but to perform better in every trade. Therefore, you should focus on manual trading because systems do fail but the method learned on how to behave in the quickly changing market will remain with a trader forever, and will help him in the long run.

 

[andengireng]

I follow Elliot Wave technique from FreshForex, Elliot wave is a good strategies and it is famous, many great trader using Elliot Wave to gain any profits, now you can follow too like me, just go to FreshForex website, open an account and go to analysis tab and you can start learning about elliot wave by FreshForex.

 

[Bernado.jacob]

I will not recommend a newbie to use EA. It is better to start off with manual trading to get an understanding of the forex market and its functions.

EA can be used during the later stages after gaining enough knowledge and experience in forex trading.

 

[mlawson71]

I firmly believe that EAs are for experienced traders, not newbies. To use an EA you need to understand how it works,, and how can a newbie do that when they can't even trade manually.