is really advisable to use EA for newbie?

[mlawson71]

I firmly believe that EAs are for experienced traders, not newbies. To use an EA you need to understand how it works,, and how can a newbie do that when they can't even trade manually.

 

[Svengali]

Newbies can use EAs to make better decisions and avoid any big losses. Although it is good in the beginning, it should not be totally relied upon. A newbie will not be able to learn much while using EAs as most of the decisions will be made by an EA on the parameters that you set once.

 

[Sébastien]

A newbie can use an EA, but if the new trader is not aware of the basic forex trading activities, it can lead to losses more than profits.

 

[Kalology]

EAs have many benefits to traders. With the help of EAs, traders can execute complex trading strategies and can operate for 24 hours. They can also open and exit trades for you, but EAs are not 100% accurate when it comes to returns. As a newbie, you should have a good hang on manual trading before you begin to trade with bots.

 

[ShihTzu]

EAs can be quite helpful for newbies because they won’t feel any pressure to monitor the market continuously. Moreover, new traders are likely to suffer from emotional trading and EAs are great for helping them to keep the emotions of the trading.

 

[Schmooze]

A newbie can use an EA, but if the new trader is not aware of the basic forex trading activities, it can lead to losses more than profits.

I agree. A newbie can use EA but he won’t be able to understand the basic concept of forex trading.
Moreover, he’ll not be able to trade with EAs efficiently as an experienced trader could. There are limitations to EAs. Until a trader knows the basics he won’t be able to use EAs to their full potential.

 

[VargaDimwit]

EAs are the easiest way for trading but there are very few EA’s that provide desired results. An incredibly small percentage of people who attempt day trading are successful at it, and that includes people who create and buy EAs. The odds of success are still very small even when using a trading robot.

 

[Supercilious]

EAs are helpful when you have some hang of real trading. If you are new, then you should avoid using EAs because it can be confusing. However, you can take help from EAs once in a while to understand the complexities of trading strategies, but it is not a good trading move to completely rely on using EAs.

 

[Zygosis]

EAs have many benefits. Traders can use them to open and close trades automatically and with better execution. They can run for 24 hours. Trading decisions taken by EAs are not driven by emotions. They are also helpful when traders want to learn new trading strategies. However, their thought process is limited and they can't have the same outlook of the market as traders. The forex market is unprecedented and only traders can decipher them properly. So new traders should use EAs carefully.

 

[Allegator]

With the help of EAs, traders can trade for 24 hours and open and exit trades automatically. As a trader, you can program your bots, which can be used to execute complex trading strategies. But it is only beneficial if you have some knowledge of technical analysis.

 

[monssur]

You shoudnt really if you are new, try to learn fundamental things first

 

[antwanmcdonough]

As a newbie, you can take help of EAs to find out how strategies function. But they are not 100% reliable and can cause problems if you don’t have some trading experience. You can test it on a demo account to avoid unprecedented trading risk.

 

[Tomfoolery]

For new traders, it is better to have some understanding of the market first, before using EAs. They are excellent tools, but they are limited in their functioning. Also, they are not profitable in the longer run because they can’t analyse the market the way a good trader can.

 

[TerenceDavi]

My belief is not different from other traders over here. Newbies should refrain from using EAs until they have gained market experience and can judge the performance of the EA. Trade manually to know the ins and outs of the market so that you can run your EA profitably.

 

[mr_camera_man]

Read and understand the methodology that goes in to the EA. Paper-trade it for a while before using it on a live account, then ease into it with small lots. I'm curious to try 1000 pip climber because it alerts, but it doesn't auto-trade, so there's an additional safety net.

 

[fartkontrol]

As you are a beginner, I would suggest you start with manual trading, because EA will not be helpful for you, in any way. So it would be a better option to trade manually and gain knowledge about trading.

 

[mlawson71]

I agree. I think it is better to learn how to trade on your own before you start trading with an EA. It's important to understand the EA to use it properly.

 

[roy3421]

dont go for ea . learn basics like support resistance and chart as many pairs possible and come back and see your results. this way you what you did right and what went wrong alld best

 

[AayushiShah]

If you are new to forex trading, you should not try to use an EA first, as the markets constantly change, making the EA ineffective.

Almost all EAs need a purchase initially, followed by hosting to keep it running 24/7. As a result, you spend a lot of money without understanding what you get in return.

When the market is trending, a trend-following EA will do well, but it will lose a lot of money when the market is range.

So, I suggest that you do manual trading when new to the trading market.

 

[Kirankrithika]

I recommend new traders to trade manuals to learn about the live market trades and not to totally rely on EA because it does not always go based on the market changes; it goes by the parameters that you set once.