pros and cons of using automated trading systems

[Olivia.the.jackson]

What are the pros and cons of using automated trading systems, such as forex robots or expert advisors, in the forex market? How reliable and effective are these systems in generating consistent profits for traders?

[maspluto]

Currently, I feel comfortable trading forex manually. Through manual trading, I can experience and understand the process of forex trading. Additionally, I joined Tickmill and utilized the educational resources they provide, which further enhanced my understanding of the forex market.
 

[AnalyticsTrade]

Automated trading systems offer benefits like consistent execution and removal of emotional bias. They can trade 24/7 and provide backtesting capabilities. However, they may struggle with adapting to changing market conditions and can be vulnerable to technical issues. Proper monitoring and risk management are crucial.

[Hanan Öberg]

Automated trading systems offer benefits such as speed, efficiency, and the ability to trade 24/7 without emotional bias, ensuring consistent execution. However, they come with risks, including technical issues like software failures, the potential for over-optimization, and a lack of human judgment in adapting to unforeseen market conditions. LQDFX broker allows EA trading smoothly on their trading platform and I found their platform free from technical errors like slippage, dealing desk and requotes.