I know many new traders are absolutely fascinated
with the idea of Forex EAs. If you have been living in a cave for the last few years, and
don't know what Forex EAs are, they are basically a software script that will trade the forex
market on autopilot without any kind of human intervention. So basically, as long as your
computer is turned on and you have an internet connection, these scripts will trade the market for
you. You might have guessed that this is not the way most trading purists have traded
So I am assuming that you I have peaked your
interest. You might have even said "wow, that's amazing". I can certainly
understand why many traders (especially those that have not have had any success) are so
enamored with the idea of Forex EAs.
How could you not be? After all, it's like a dream
come true. You can trade the market without having to do any of the work.
Now, I want you to think about this realistically,
and answer this question. Do you honestly think that these Forex EAs work?
If you answered yes, then I am afraid you are not
answering the question honestly. I know you probably want them to
work. Who wouldn't???
But let's face facts. The markets are not and
cannot ever be programmable. When you trade, you have to be able to roll with the
punches. You have to stick your nose in there and see what the market is doing. This is
what getting a forex trading education is all about.
Do you truthfully expect these forex EAs to be able
to trade the market after Non-farm payroll numbers come in or when the Fed makes an interest rate
decision? If you do, then I am afraid you are not being
The moment you stop thinking about gimmicks like
Forex EAs is the moment you start taking trading seriously. I can assure you that the most
successful traders in the world will never let somebody else trade their account for them, much
less an inanimate piece of software. You need to
learn the language
of price action.