Manual trading system is bound to make you profit or rather more profitable in the long run as against automated system which is less profitable in the long run..
Manual trading is a trading system that involves human decision making for entering/placing and exiting trades. Manual trading involves a trader physically placing trades inside his trading platform by choosing the currency pairs and other assets and clicking ” buy or sell” on his own keyboard. It also involves doing or carrying out your own research,learning how to navigate your trading platform and taking total responsibility for your own trades.
Do you really want to know how to trade? Do you want to earn passive income as a trader? Are you really interested in trading? Do you want to earn consistent income as a trader? Do you intend to take Forex trading as a career? Then go for manual trading, go for training or look for wherever Forex training is being conducted, notably at InstaForex Nigeria,training goes on throughout the year from Jan-Dec
1. MANUAL TRADING:
The human trader Otherwise known as manual trader has one thing to his/her advantage which the EA/robot doesn’t have and that is BRAIN. While a robot can only execute decisions based on scenarios that are programmed into it, a human or manual trader on the other hand can take into consideration everything that is going on around him and process it together and come up with a better decision. Example:- A human or manual trader can take into account Fundamental events/news that are about to occur or are occurring unexpectedly like the hurricane/Tsunami and other catastrophic natural events in Japan ,USA and other major parts of the world that affect the markets
2. DULL,RANGING/CONSOLIDATING AND VERY ERRATIC MARKETS:
A manual trader can be very objective in his decision process unlike the robots. When the market becomes dull or ranging the manual trader could decide to either pull out of the trade or stay out completely. A manual/human trader can decide when he has enough profit and stay out of the market for a while. He could also watch and get into the markets whenever he thinks that the momentum would continue in his favour. A Manual trader can get a feel of the market and get in when the market situation is right or “in the zone” Since manual trading or human beings do not make decisions based on fixed rules or collection of logic, it is less susceptible to large unpredictable macro-economic events or shifts in economic climates.
3. EXPERIENCE AND KNOWLEDGE:
Experience and Knowledgeable traders could many times out-perform/out-live any automated system, simply because buyers and sellers are humans. Therefore supply and demand are influenced by human variables/behavioural patterns which many computers cannot analyse or produce. Experienced and knowledgeable traders can out-perform any system(automated) even those which trades exactly like them. This is as a result of the facts that they may decide to stay out of some trades or take their profits as the case maybe. Some days the manual trader can’t make a wrong decision at all, whereas an automated system would only take trades that it is designed for.
4. FOCUS ON QUALITY NOT QUANTITY:
The quality of your trades are enhanced with manual trading unlike auto-trading which over trades the market. Over trading is one of the reasons most traders fail to make money. Little wonder, EA/robots fizzles out over time or in the long run. Manual trading would enable the trader to focus more on quality of trades rather than quantity.
FINAL VERDICT OR CONCLUSION:
Whatever might be the advantages of the automated trading system even where it is difficult in setting up a manual system of Forex trading, its advantages far outweighs that of the automated trading system. The use of the manual trading system is bound to make you profit or rather more profitable in the long run as against automated system which is less profitable in the long run. An experienced manual trader can realise when the market conditions have changed even without a major event occurring. The manual trader can easily adjust his approach when the markets slows down.
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