As a long time trader I was skeptical regarding the idea of Automatic Trading when it was first implemented in a large scale in the 90ies. After all did it not in some way threaten the very existence of my profession?
What a long way we have come!
Automatic Trading is not only here to stay, but it has really revolutionized the way we trade.
The advantages of trading robots are of course obvious.
- No Emotions
- Fast execution - no hesitations
- No "variations" on the strategy
- flexibility
Whereas the first three points are clear to all who have ever witnessed a "Forex Robot" or "Expert Advisor" trade a live account the last point seems some what arbitrary.
All decent Forex automatic trading systems employ filters to choose entries and exits - they are after all what differentiates one system from the other.
In a sophisticated robot you can control these filters and adjust them to what is going on this year, month or the last 24 hours - with as much involvement as you see fit.
The trader of today spends most of his day tweaking and expanding strategy - not really having to worry about execution of trades.
We have all become statisticians and been able to develop the most sophisticated strategies yet.
What we gave up was a sort of renegade cowboy feel that came with so much stress it certainly shortened our lives.
I think it was an excellent trade!
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