Mind or Machine? What’s Better For Forex Trading?
Apr 11, 2022 at 13:37
They say that the world will slowly become completely automated and that even the most advanced of jobs will be able to be done by computers. However, when it comes to trading, is mind or machine better? What is more effective at analysing the markets and making the right choices in Forex trading?
The Markets Were Made By Humans…
The free markets were made by people. They are created by people deciding whether a price is too high or too low and choosing what to do with that information. So you could say that the markets are a reflection of what humans are thinking. Since machines can’t grasp the emotional part of what’s happening and only look at numbers, it is unlikely that they will spot the specific nuances that can be picked up that will tell a trader whether the trade is right for them. If the choice is mind or machine, many traders would most likely prefer to use their minds as they have more faith in that than a computer that won’t understand what’s happening. It’s not just a numbers game, and that’s what computers are all about.
Computers Don’t Have Emotions
Computers clearly don’t have emotions, and that can be seen as a good thing. It’s often said that traders should trade without emotion, and leave their feelings behind and simply stick to what the trades are telling them, and although that’s true, it’s not the whole story. Sometimes emotions do have a part to play within trading, and the fact that a computer can’t get a ‘gut feeling’ about something could mean it’s not as successful as a human would be. Mind or machine? Mind is winning out.
Computers Can Be Adaptable
Computers certainly can be adaptable, they can ‘learn’ if their programming is right and allows them to. Starting with specific algorithms, programmers can add or reduce what a computer knows until is it almost perfect. Almost. Because that’s the thing with the markets – they are unknowable, and trying to create a machine that can predict what is going to happen is a hard task indeed. Which means that when it comes to mind or machine in Forex trading, the upper hand has to go to the mind. At least it can adapt more easily (no programming or programmers required), plus when a person loses (or even wins) due to a fluke shift in the markets, they won’t spend a lot of time or a lot of money trying to understand it. It just happens. That’s the nature of trading.
You Can’t Learn To Trade From A Computer
A computer can never teach you to trade properly. No trader who works successfully will ever want to listen to a robot blindly telling them to sell or buy, depending on the algorithms of the day. They want to get their hands dirty, to have fun, to really see what’s happening. And that’s the main difference between mind or machine. Yes, a computer might get it right, but where’s the enjoyable aspect? It’s gone – and without enjoyment, trading will become very dull, very quickly. Article Source：fxcashbackking .com
The Markets Were Made By Humans…
The free markets were made by people. They are created by people deciding whether a price is too high or too low and choosing what to do with that information. So you could say that the markets are a reflection of what humans are thinking. Since machines can’t grasp the emotional part of what’s happening and only look at numbers, it is unlikely that they will spot the specific nuances that can be picked up that will tell a trader whether the trade is right for them. If the choice is mind or machine, many traders would most likely prefer to use their minds as they have more faith in that than a computer that won’t understand what’s happening. It’s not just a numbers game, and that’s what computers are all about.
Computers Don’t Have Emotions
Computers clearly don’t have emotions, and that can be seen as a good thing. It’s often said that traders should trade without emotion, and leave their feelings behind and simply stick to what the trades are telling them, and although that’s true, it’s not the whole story. Sometimes emotions do have a part to play within trading, and the fact that a computer can’t get a ‘gut feeling’ about something could mean it’s not as successful as a human would be. Mind or machine? Mind is winning out.
Computers Can Be Adaptable
Computers certainly can be adaptable, they can ‘learn’ if their programming is right and allows them to. Starting with specific algorithms, programmers can add or reduce what a computer knows until is it almost perfect. Almost. Because that’s the thing with the markets – they are unknowable, and trying to create a machine that can predict what is going to happen is a hard task indeed. Which means that when it comes to mind or machine in Forex trading, the upper hand has to go to the mind. At least it can adapt more easily (no programming or programmers required), plus when a person loses (or even wins) due to a fluke shift in the markets, they won’t spend a lot of time or a lot of money trying to understand it. It just happens. That’s the nature of trading.
You Can’t Learn To Trade From A Computer
A computer can never teach you to trade properly. No trader who works successfully will ever want to listen to a robot blindly telling them to sell or buy, depending on the algorithms of the day. They want to get their hands dirty, to have fun, to really see what’s happening. And that’s the main difference between mind or machine. Yes, a computer might get it right, but where’s the enjoyable aspect? It’s gone – and without enjoyment, trading will become very dull, very quickly. Article Source：fxcashbackking .com
Member Since Aug 10, 2021
178 posts
Apr 12, 2022 at 01:08
Good article. We can not learn forex properly if we do not do practice with a demo account before starting real trading.
Member Since Jun 12, 2021
132 posts
Apr 12, 2022 at 08:37
its a very fine post with good description , got some fine lines.
Member Since May 19, 2020
438 posts
Apr 12, 2022 at 15:57
zhsy posted:
They say that the world will slowly become completely automated and that even the most advanced of jobs will be able to be done by computers. However, when it comes to trading, is mind or machine better? What is more effective at analysing the markets and making the right choices in Forex trading?
The market is, in some way, created and maintained by the human factor and events, which depend on our actions, expectations and reactions to them, as well as reactions after the event or during.
The question that interests me is, is the reaction of market participants (after all, they are people) algorithmic or even more predictable?
Comment on 'gut feeling'. I believe that any intuitive decision is in any case the result of the work of the mind and very often, its subconscious part.
I am not afraid to say that the program or artificial intelligence, as its more developed form, is NOT designed to completely replace the mind. You are right, at this stage of technology development and the understanding of what is 'consciousness' and 'mind', a completely replacement is impossible. The final authority, the final opinion will always be a mind (human).
But, automation can significantly speed up some processes where multithreading and the speed of performing elementary tasks in a large volume are required.
@Marcellus8610
Apr 13, 2022 at 03:56
Proper mindset plays a vital role for traders’ trading. Traders should keep themselves disengaged from trading when they are depressed because depression works as a barrier. It impedes traders to focus on market analysis and without market analysis, traders can’t forecast the movement of the market.
Apr 15, 2022 at 06:22
A mind is always better than a machine. A machine is made by a genius mind, but no genius machine can make a human mind. All currencies, markets, computers, and other things are the product of some genius minds.
So it is always better to use your mind for forex trading rather than depending on computer software and applications.
So it is always better to use your mind for forex trading rather than depending on computer software and applications.
Member Since Mar 17, 2022
47 posts
Apr 19, 2022 at 09:43
Minds are definitely better than machines when it comes to trading. The currency pair’s values can change anytime with regards to the high volatility. The human mind can analyse the problem and make a better decision after the changed circumstances, whereas the bot won’t. It may cause you loss.
Member Since Jul 20, 2020
399 posts
Apr 20, 2022 at 13:02
saluteband posted:
I think both mind and machine are equally important in forex trading. the machine can only assist us. But genuine understanding is possible only when we push our minds to understand it.
I agree both together can be the key to success i use trade managers to help me manage my trade but i control the entry and the parameters
Member Since Aug 05, 2021
401 posts
Apr 24, 2022 at 14:47
Robots will always have faults. My husband works as a welder and they have some robot welders there, they cost an insane amount of money and he says they mess things up all the time. I'm sure they can work to improve these machines over time and they may be better in some places, but there are jobs that robots won't be able to do better than humans.
Member Since Apr 14, 2022
37 posts
Apr 28, 2022 at 11:46
IMHO, mind and the machine are equally important in forex trading. As much as the machine can help us, only our minds can provide us with a true understanding of the dynamic trades.
Member Since Oct 28, 2009
1435 posts
Apr 29, 2022 at 08:59
Both, only the human mind understands the complexity and variables that go into winning in the FX markets and building the algorithms and using algorithms that can leverage the machine.
11:15, restate my assumptions: 1. Mathematics is the language of nature. 2. Everything around us can be represented and understood through numbers. 3. If you graph these numbers, patterns emerge. Therefore: There are patterns everywhere in nature.
Member Since Oct 29, 2020
18 posts
May 02, 2022 at 09:23
In my opinion, if the mind has made a machine, then the mind is more powerful. But also machines lack emotions which are bad for any trading. As machines can not surpass the abilities of the mind, the mind could be trained to control emotions for making winning trades.
Member Since Dec 17, 2020
17 posts
May 02, 2022 at 09:29
Machines can be used to make technical analysis but the mind can help understand analysis and make trading decisions accordingly.
Member Since Mar 07, 2022
10 posts
May 02, 2022 at 12:32
Combination of both is the key to future trading. Using computers for the hard analytics and human for the general direction and a sense check
Member Since Apr 09, 2019
538 posts
May 05, 2022 at 11:56
A machine can only see what it has been programmed to see. I suppose much like a human can. But it is easier to reprogram our thinking to react than you can a machine/bot.
If you can't spot the liquidity then you are the liquidity.
