Who Will Win In A Contest Between The Forex Robot And The Human Trader
Can a Forex Robot out-trade a highly experienced human! Does the Robot have the necessary
intuition and savvy to ascertain when a trade is viable, or when to exit the trade!
A robot is mechanical in concept, its judgement calls are based not on emotion but on rational facts. Admittedly the Human does have the ability to sense a good trade, the ability to instinctively know that the trade is not working out, the ability also and unfortunately to get it wrong.
Of course the Robot will not get it right all the time, but does this matter. No, it does not matter and quite rightly.
What we ask of an Automated Forex Robot is that it maintains a forward and controlled slope upward of profitability. That it maintains a balanced approach to the trades, that it maintains a predictable money management and risk control policy.
The Robot does not suffer the problem of distraction, tiredness, the need for a break, and the lack of focus that comes from watching a computer screen endlessly. The human trader may have instinct, intuition, savvy, experience and the ability to feel a good trade, but the Human is only Human, with all the foibles that this entails.
What I look for in my trading is profit in a controlled manner, the robot still will come up Trumps for this. Of course, it depends on the Forex Robot, and how it is set up.
The Robot needs to be researched, demoed, and a plan formulated before going live. I know from Personal experience that once you have reached this position, what is necessary then is to go live. We do need the program to remain live.
It is very easy to watch the Forex Robot in action and for the human element to try and intervene. This must not happen, as the Robot is making decisions based on losing trades as well as winning trades.
We certainly do not want the computer to crash, hibernate; power down etc as sometimes happens with our personal computers and laptops, and hence I would recommend utilising a VPS.
Also, from personal experience it is vitally important to let the program run without human input. The desire to take a profit before the trade has reached its profit level always remains strong.
The program must take profits and must take losses. What we must do is evaluate the results at the end of each 24 hour period.
If it is making profit then our only decision is whether to increase the lots traded. I, for one believe that the Robot will always beat the Human is terms of long-term sustainable profitability.
by: Peter Froggatt
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