With the evolution of the economy, many people are looking for a way to earn extra money without putting too much money at risk. The question is whether trading software can do better than trading yourself. To effectively answer this question, we must explore the pros and cons of your trading, as well as the pros and cons of a trader.
Trade yourself can often be the best form of commerce. A human can see the big picture and settings outside of a commercial robot. Sometimes global events affecting markets can not be seen by software.
There are some requirements that any trader will need.
A commercial plan. The business plan consists of rules that must be followed. Rules could include which indicators to use, what should happen before a transaction, what time of day to trade, when to avoid transactions, etc.
Solid money management. Money management includes how much money you need to risk per transaction, where to place the stop loss and make a profit, and so on.
Psychology. Psychology plays a big role in the business. A successful trader prevents emotion from entering the business. One of the main reasons why traders lose their money in the markets is because they interrupted the winning trades, for fear of losing profits and letting the losers run in the hope that the trades will take place. straighten and come back.
If a trader can master the three things above, he will have a much better chance of being a profitable trader. In my experience, traders who empty their accounts do so because they have failed in any of these three areas. There are many strategies and trading systems that can produce consistent profitable results as long as the rules are followed and the trader can control his emotions.
Trading software can help you meet the three requirements of the merchant. A trading robot is programmed with rules that it will follow whatever happens. It can be programmed from anywhere, from high-risk money management to low-risk management. A program has no emotions that could interfere with a craft.
Trading robots are often programmed to avoid scheduled big announcements or to exchange news according to the programmed rules.
Is trading software better for you? If you are not able to follow a business plan, maintain good money management or keep any emotion out of the market, a trading robot may be what you need to become profitable in your business.
If you can keep your emotions off the trade, stick to your rules and keep your money management, trading software may not be necessary, even if a trading program can improve your trading and you provide even better yields.