Misperceptions or misunderstandings are common, natural and often occur in everyday life. Because humans have limitations in understanding everything.
Especially in this day and age, the information is so swift but a lot of it is misleading and cannot be accounted for. Only the origin of the sound, the origin of the word (Javanese language, origin of njeplak / origin of bacot) from those who are not experts in their fields.
No exception in the world of trading. In a previous article I have written myths and facts about the world of trading. Please read to increase knowledge.
In this post, I will discuss myths and misperceptions about the use of EA / Trading Robots. To be honest, I used to be one of those people who had negative views, underestimated and looked down on traders who used EAs.
But my view began to change after undergoing and studying it in depth. I found a lot of misperceptions about the existence of this EA, even though EA is a POWERFULL and PROFITABLE tool if we know how to use it properly.
Let's discuss one by one what these misperceptions are and how they should be addressed.
1. EA HAS A PROFIT PERIOD AND CAN'T LONG LASTING.
Actually EA has nothing to do with profit or loss. EA is an automated manual trading system. Profit is determined by market movements that match the EA's logic manual. If it doesn't match, the EA will bring a loss.
Static EA, dynamic market. It takes a human touch so that EA is able to work and generate optimal profits. Even without a human touch, EA can still generate profits but is less than optimal.
That's why many people say, the profits don't last long. Because the users (traders) do not understand how to run it properly. The original EA is running continuously all the time. This is a big mistake! No matter how good the EA is, it is not recommended to WALK CONTINUOUSLY.
The market is dynamic, so traders must understand when the EA should be run or stopped or not trading at all within a certain period. Traders must be able to read market cycles. The analysis doesn't have to be perfect, at least you know the basics and the fundamental news schedule.
2. TRADING USING EA MAKES TRADERS NOT TRADING SMART.
This opinion is very true IF the trader is lazy to learn, forever the trader will remain stupid who only hopes for instant profit without knowing the knowledge. It can be profitable even though you have no trading knowledge at all.
But I make sure, the profit is not lasting. Like point no 1. later blame, "EA has a period of profit, and can't last long.." Even though in fact he himself doesn't know the knowledge.
Keep spinning blame and scapegoating EA. Humans have an ego that is always right and does not want to be blamed.
3. EA CAN BE WORKED BY BROKER SO YOU CANNOT PROFIT LONG TERM.
Again, blaming, if you blamed the EA, now you are blaming the broker.
In my opinion, in this modern era, brokers are increasingly difficult to manipulate because of the disclosure of information. Charts and market movement data are very easy to obtain and compare so it will be clear if there is fraud. If the broker dares to do that, be prepared for his reputation to be destroyed and the trader left.
Today there are many choices of brokers. Traders are very easy to choose and move from one broker to another to find a broker that is fairer.
So, don't be a loser trader who likes to look for scapegoats to cover up your own weaknesses and incompetence. We better learn, continue to improve skills and become a competent trader.
4. NO PROFESSIONAL TRADER USES EA.
This is a myth that until now has not been proven true, only based on "he said, he said". It could be that many professional traders use EA's, we just don't know. They choose to become Silent Traders.
We retail traders are busy debating which one is better.
The EA or manual is just part of the trading strategy. There are various strategies, all of them are good and profitable if executed properly.
5. IF FOR SALE THEN THERE IS NO GOOD EA.
Usually there is a continuation, "If the EA is good, it certainly won't be sold and used alone...".
Why don't we think otherwise, precisely because it is good, it must be offered to others so that it can be useful for many people. Instead of being kept and used alone, this is selfish.
Traders with a free mentality will not be able to understand such an understanding. Their mindset is always suspicious and negative towards people who offer EAs.
After all, what is a good EA like and how? In my opinion there is no EA that is really good or bad really bad.
If you think there is a super great EA that is able to generate abundant profits like tuyul / magic lamp genie, then it is kept tightly by the owner and not sold? This is a hallucination of your own mind that is excessive (over estimate).
Even before I knew and studied EA more deeply, I also had that mindset. But now I see EA, it's normal. EA is just an inanimate object, static, neutral and unable to work optimally without the role of a trader.
Let's change the perspective to be more realistic so that we trade "grounded" without excessive expectations / fantasies.
EA also does not need to be updated as long as it has escaped bugs and errors. Can be used forever and ever.
The EA that needs to be updated is an EA that has not escaped the bugs and still has many errors. Usually a new EA needs to be tested in some time frame to test whether it is running according to its logic or not.
6. IF EA MUST BE MONITORED, MANUAL IS BETTER.
Using EA doesn't mean you just let it go, but you still have to pay attention from time to time. Running any business still needs attention, focus and commitment, right?
But it's been helped lighter, it's still more complicated manually. The hassle of using EA is still more manual.
EAs are tools that ease the task and work of trading. There is some work that can be "delegated". We simply monitor, everything can run automatically. Here lies the benefits and advantages of EA.
It's like we have a business to open a shop that is automated, computerized, has CCTV and employees are working. All operational activities and transactions are fully automated. We simply monitor and can make decisions effectively and faster. Very practical and convenient, right?
But it's a bit tricky at first because it requires investment in buying equipment, computers, CCTV, and so on. Then must train employees, teach employees to operate the system. It's a hassle in the beginning but it's great in the long run.
If everything is installed and used to it, it will be very easy and light for us as shop owners.
Just like trading using an EA, at the beginning we were a little troubled because we needed to install the EA, do the settings, rent a VPS, and so on. But when everything is installed and used to it, traders can be more relaxed and still make profits.
So the right attitude and mindset is that EA is just a tool that eases trading activities. We keep working, keep learning, but in different ways. More practical and smart because the system has been built.
We are Conceptors. EA is Executor.
I believe that achieving success in any field is never caused by a single factor, but there are other factors that play a role.
Like a company that is successful and growing tremendously. It can't be caused solely because of the greatness of the manager. But also supported by reliable employees.
If the manager is great but the employees are not good, the results are not optimal. Or vice versa good employees but managers can not lead well, the results are also not optimal. So both parties must support each other in order to get optimal results.
So, intend to learn. Be a good drafter, be a great manager. You have to take responsibility and be in control of developing a trading portfolio. With the help of EA as a good assistant, you can get maximum results.
CONSISTENT AND OPTIMAL PROFIT GREETINGS.
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