Pros and cons of using a automated trade system

[Theo24]

Pros​

• They can trade 24/7
• They are not influenced by human emotions
• They can work faster and more effectively
• They can operate more complex and sophisticated trading strategies
• They make backtesting easier and faster
• Anyone can use them to get started with forex trading

Cons​

• You need a strong and constant internet connection
• They have no capacity for human thought or imagination
• They are not good at reading and interpreting fundamental data
• They are vulnerable to non-trending markets
• Most forex robots are scalpers
• There is a risk of data-mining bias
• They may be a scam

 

[jchipasula]

Pros​

• They can trade 24/7
• They are not influenced by human emotions
• They can work faster and more effectively
• They can operate more complex and sophisticated trading strategies
• They make backtesting easier and faster
• Anyone can use them to get started with forex trading

Cons​

• You need a strong and constant internet connection
• They have no capacity for human thought or imagination
• They are not good at reading and interpreting fundamental data
• They are vulnerable to non-trending markets
• Most forex robots are scalpers
• There is a risk of data-mining bias
• They may be a scam

I like what you have put together. Another for the con side of the table: You have to maintain your computer. I recently discovered that my tower was rebooting randomly at night after getting Windows Updates. Most nights I leave my computer on to try and catch activity in other markets. THankfully, no skin lost yet.