I can certainly understand the fascination that many traders have with forex EAs. For those that don't know what they are, they are basically these automated trading systems that can trade the forex market without any kind of human interaction. So technically 24 hours a day, 6 days a week, as long as your computer is on and you've got some kind of internet connection, you don't even have to look at your computer,yet your account will be buying and selling. Ah.....just like our forefathers did.
Honestly, I have nothing against the concept of forex EAs, if they actually worked. I would love to spend less time on my computer and more time on my boat, but if you are forex trader, that's just not really feasible.
Let's face it. The market is too complex to just blindly let an automated robot handle your trading for you. Do you honestly think that a trading robot would be able to handle NFP news? It has no idea what analysts expected? It has not idea what the actual numbers were? It has no idea how the market is going to interpret them?
Also, have you personally ever met anybody that has had success with Forex EAs? I certainly haven't. If you have, then I would consider you to be in the vast minority. The truth is, the concept of trading hasn't really changed since the first share of stock was traded. We just happened to add a lot of needless bells and whistles along the way. I suggest you look at a simple price chart and see what its REALLY telling you before you go crazy over another Forex EA.
John Templeton has been a successful forex trader after learning how to trade price action. Once he understood that all he needed to trade forex was on a plain chart with no indicators, his profits soared. He has created a forex trading education course called Trading In The Buff to help fellow traders see the power of price action.
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