As everything has both positive and negative aspects, similarly automated trading systems have some drawbacks too. Although such automated systems have got great popularity amongst forex traders, they still do have some disadvantages. In this article, we will discuss those disadvantages of automated trading systems.
I’ve read a lot about the automated trading system, but don’t work till now. This system has much significant secret logic, through which it makes decisions and design strategies. I can say that manual trading is more successful than automated trading. An individual loses all his money ad profit too, as the system is not updated all the time. The main drawback of this is that the system is not updated, and an individual doesn’t know whether it’s the right time to gain profit or lose money. As mentioned earlier, the computer plainly doesn’t have the ability to read the human mind; that’s why they cannot detect the devised method applied according to dynamically changing situations with the forex business. Still, all the traders might not entirely agree with the situation.
What is Zulutrade Mirror trading?
Zulutrade Mirror trading represents a platform that allows traders to mimic (copy trades simultaneously and close at the same time ) others by implementing the same trades that others do in the trader’s own account. Mirror trading is an acceptable alternative for traders and investors in the last several years as investors can rank traders by performance, drawdown, dozens of criteria and pick the best of them to invest money in their strategy.
See an example of signal Zulutrade mirror trading:
Another problem with the automated system is that the expert or computer cannot detect the handling error as the event appropriately.
Therefore, after revealing all these disadvantages, I would suggest this business is a waste of time and money until you become an expert as it’s a popular tool. Automated forex trading is also not without its flaws. If you are using it, then make the best decision based largely on your intuition and experience.
Mirror trading is similar to auto trading but instead expert systems, software, and scripts – other forex traders trade for you instead. You only receive signals.