Is Forex education compulsory for a trader?

[PhoenixJ]

The question here is how long will the Forex advisor be profitable? I tested many other people's EAs and at first they really made money, but after a short time I lost my deposit. Therefore, I decided to learn how to analyze the market on my own and create my own trading strategy that would work more stable and profitable.

What you just said shows me how much you don't know about EAs. What do you think an EA is? EA is a strategy written in codes. So basically, creating your own trading strategy and trading on it is the same as running an EA. It's the strategy, just in codes. Educate yourself lad.

 

[Fin_Trader]

What you just said shows me how much you don't know about EAs. What do you think an EA is? EA is a strategy written in codes. So basically, creating your own trading strategy and trading on it is the same as running an EA. It's the strategy, just in codes. Educate yourself lad.

I know very well what EAs are. And if you read my message carefully, then there I talked about other people's advisors, there are a lot of EAs on the Internet and most EAs work very poorly at a distance, no matter how much they are praised. Therefore, I trade using my own manual strategy, which unfortunately could not be automated.

 

[PhoenixJ]

I know very well what EAs are. And if you read my message carefully, then there I talked about other people's advisors, there are a lot of EAs on the Internet and most EAs work very poorly at a distance, no matter how much they are praised. Therefore, I trade using my own manual strategy, which unfortunately could not be automated.

Actually, you have no idea what you are talking about. It doesn't matter if it's your EA or someone else's. You can read the bloody code and see what the strategy is. You can test it on a demo. Some people who offer EAs also provide you with a free trial to test it out.

PS: Your strategy can't be automated? Don't BS me. If you have any idea about programming or codes, you wouldn't say that. Stop trying to spread false information if you are uneducated. Every strategy can be automated.

 

[Polakandil]

To make a manual trading system into an EA requires programming skills, I still prefer manual trading because it is easier to control risk, using EAs created by other people in my opinion traders must understand how the EA works because many EAs work without a good MM.

 

[PhoenixJ]

To make a manual trading system into an EA requires programming skills, I still prefer manual trading because it is easier to control risk, using EAs created by other people in my opinion traders must understand how the EA works because many EAs work without a good MM.

Preference is not a fact about a matter is it thought? You say you PREFER not to use an EA because you don't know how to read or work with it. Manual trading makes it easier to control risk for YOU, so what you are saying is not a fact, it's personal.

So idk what your argue is here? You can't bring one fact to the table here that what the gentleman said is true!

 

[Polakandil]

Preference is not a fact about a matter is it thought? You say you PREFER not to use an EA because you don't know how to read or work with it. Manual trading makes it easier to control risk for YOU, so what you are saying is not a fact, it's personal.

So idk what your argue is here? You can't bring one fact to the table here that what the gentleman said is true!

Every trader may have a different perspective even though they are faced with the same case, here I say based on personal experience because I tried backtesting the EA several times and the results did not give what was expected, including the EA's performance looked good at the beginning but in the end it burned the account because the EA worked without a good MM, using an EA without understanding how it works, what kind of MM to use, martingale or hedge, and so on, in my opinion, is like driving a car without knowing the function of the brake, clutch and gas, it's dangerous.

 

[OscarR]

Basic knowledge alone will not protect you from losses. Here you need good knowledge and experience to earn money. Therefore, you need to prepare yourself for a long enough study of technical and fundamental analysis in order to become an experienced trader who knows how to preserve his capital and earn profit.

Basic knowledge alone will not protect you from losses. Here you need good knowledge and experience to earn money. Therefore, you need to prepare yourself for a long enough study of technical and fundamental analysis in order to become an experienced trader who knows how to preserve his capital and earn profit.

Basic knowledge is just the starting point.

 

[Fin_Trader]

Basic knowledge is just the starting point.

Important trading skills that make trading successful are self-organization, managing emotions, and the ability to count in order to manage capital and risks wisely. All other skills follow from these three.

 

[brooksjanet24]

Basic knowledge is just the starting point.

Exactly, there are a lot of things that follow... risk management, sessions, tools, indicators, charts, psychological balance, ahhh there's so much