Which forex tools are best to use today? Automated or indicators?

[Ghetto ghost fx]

Which tools can you refer a beginner to use for them not blow their accounts in seconds?

 

[desofm]

Don't trust random EAs, you must know what they are doing and how before trying automated trading like that.

Just find a good set of indicators that give you good entry signals and SL level, maybe exit/TP signals too, depending on whether or not you want to choose to have a fixed RRR for TP

 

[Tasfy Alam]

Don't use automated..it can blow your account. So be careful.

 

[nicob888]

you can downoad free risk calculator on mt4 for free just have to find one

 

[noahlucas]

Both automated forex trading tools and indicators have their own advantages and disadvantages. The best choice depends on your trading style, experience, and preferences.
Automated trading tools, also known as expert advisors (EAs), are computer programs that automatically execute trades based on predefined trading strategies. They can work 24/7 without human intervention and can quickly identify trading opportunities that might be missed by a human trader. However, EAs are only as good as the strategy they are based on, and their performance can be affected by market volatility and unexpected news events.

On the other hand, indicators are mathematical calculations that are based on price and/or volume data. They provide visual representations of market trends, momentum, and volatility. Indicators can help traders make informed trading decisions, but they require human interpretation and analysis. Indicators can also lag behind market movements, which can result in missed opportunities or false signals.
Ultimately, the best forex trading tools for you will depend on your trading style, goals, and experience. It's always a good idea to do your research and test different strategies and tools before making any significant investments.

 

[Israelefagan]

Automated trading generally takes signals FROM indicators so the answer would be both. For binary options I'm testing out MT2Trading and it seems ok so far but many signals are unreliable. If starting out your best bet is to get better and find indicators that work well starting with a bot is a good way to blow up the account.

 

[skrimon]

Avoid automated ones. It may leave you in hassle. So avoiding automated will be best.