Is forex about robots or the knowledge?

[Factualism]

Forex robots can certainly do things that a human cannot do. They can be programmed to monitor multiple currency pairs at the same time and execute trades based on certain algorithms. They are not going to be influenced by emotions but we humans have to deal with emotions effectively for successful trading. But robots can go wrong when there is an unexpected change in the market.

 

[Chatterbox]

Forex trading is definitely about knowledge. As technology has developed, trading bots have come into existence. But no doubt the bots do not work on the same level as human intellect and instinct. It's much better to hold the reign of your forex trading charts, than let it be driven by bots.

 

[Rivenj]

Knowledge first and application of that knowledge. Only build a robot once you have proved your system works manually over a period of time that way you can semi automate your trading

 

[pumlley]

To win and make money in the forex market, you must have knowledge. Although robots can assist you in trading, they are useless if you do not understand the basics and fundamentals.

 

[Bugaboo]

Knowledge. Robots are limited in thinking. They can’t analyse the market the way a human brain can. So, in the longer run, your knowledge will decide your success.

 

[pippin]

Is the robot the way to go or one really need to learn forex markets fully and rely on the knowledge

I think it's more about the knowledge how to build working robots, it's hard to trade manually nowadays

 

[pawned]

I'd say forex is about having the knowledge to be consistent. No bot is 100% all day every day. Let say you did have a bot but its starts to take loss after loss. If you have the knowledge on how price is moving, you could adjust your bot for those conditions, but if you didn't, you would just end up switching bot after bot without understanding why each time you turn it on, it eventually starts to take losses.

 

[Multisulcate]

I would say knowledge comes first because you can’t make profits without any knowledge. Robots are helpful to automate the trading process but you should have enough knowledge to make decisions on your own. Robots are used to eliminate emotions in trading but you should not start trading before learning and understanding about the market.

 

[Rheometer]

I think both. If you’re knowledgeable, you will be able to thrive while trading. EAs are helpful upto certain extent. But for achieving profits in the long run, one need to have excellent knowledge.

 

[Bane]

I don’t see a comparison between your knowledge and a robot. You are capable of creating a robot but a robot can’t create you. Human intelligence will be above any robot. Yeah, I agree that robots eliminate emotions from your trading and can make quick trades that you may not. But it is not enough for a robot to win over the power of your senses.

 

[freemenn]

It's about knowledge. EA are also base on knowledge.

 

[Khlesee]

In my opinion, I would say it is first about the knowledge obtained and then using that knowledge to trade with tools such as robots.

 

[Monopial]

Knowledge will always have the top position in comparison to robots. But it doesn’t make robots any less efficient. Try to combine your intelligence with a robot's speed and you will be good.

 

[Siphonic]

I think knowledge comes before anything else. You need some kind of knowledge even to make profits using forex bots. The one who lacks knowledge will never be able to find success in the long run. I would always trust and depend on my knowledge and skills more than trading bots.

 

[kykelvin]

The best way to know something is by doing it. Knowledge is a key thing.

 

[Meamonk]

It’s about knowledge, and you can use knowledge to leverage robots to trade for you. Forex is a dynamic market, and if you fail to analyse it, you can’t become successful. Robot's purpose is to make trading easy for you, not exclude you from it.

 

[Tomfoolery]

Robots are an absolute wonder in the forex market. But unlike humans, they lack emotions. We can use our emotions effectively in trading if we know how to control them. Robots can sometimes predict wrong, and therefore, relying solely on robots is not a good idea.

 

[quintuny]

Even if you have a robot it will still require you to have reasonable knowledge of trading

 

[goldexover]

Using the right robot helps me from manual trading which eliminate fear and doubt in my decision making.

 

[Famished]

I believe that skill learnt through developing information from different sources to get better at trading is what matters. Robots or EA’s can only work up to a certain amount of time. In the long run, those traders who rely on their wit and intellectuality have more chances of surviving risk, than those who are laid back.