The “Old Ways” Produce Probably Accurate Predictions Vs Relatively Accurate Predictions of Today!
Automated Currency Trading Platforms has changed the preliminary process to trading. Trading is still done the same way. It is just the “getting there” that has changed. The manner of preparation has been extremely streamlined. Whether this is good or not is just a matter of looking at things.
Facilitating expediency is what it is by the invention of Forex Robots. These are software created and designed to collect current data and compare it with historical data or past data to come up with a relatively accurate trading prediction. This has changed the old way of traders and brokers laboriously going through all the data and charts manually. After studying these charts and data, they are able to make predictions which are only probably accurate. Probably accurate only because they have to do this in a short span of time, no time is left to further think or rethink decisions. The trader works under extreme pressure to come up with a probably accurate prediction. Another good change is that the trader no longer goes through excruciating pressure. This in itself is a big relief.
Robots today do not give probably accurate predictions. They give relatively accurate predictions dependent upon data stored, market movements data obtained and directions encoded by the trader or broker. It is because of these intermingling factors which causes the prediction to be relatively accurate and not 100% accurate. This being the case, the human factor is still an essential element in trading. Robots were not created to replace man, merely to assist him.
Debates have risen as to this primary change that the software has brought to the traders and brokers. Their dependence on the software is growing proof that the introduction of these robots is a good change. But extremists of the old ways believe that these robots although brings in a lot of convenience are helping to produce traders lacking in skill. Gone is the mastery in graphing market movements or the reading of charts. The intellect of data analysis which comes with years of working the trading halls and the respect obtained from peers at such range of experience and intellect has been reduced to a few encoded instructions to the robot, with the robot collecting, comparing and analyzing the data.
Admittedly, there is truth in the argument of the extremists. But, as we have previously discussed it is still the human that gives the orders. If the human does not know what he is doing then the orders he gives is of no use. This is why seminars and conferences are still present to educate the traders and brokers in the process of analysis. Although the mastery is attained not in the same manner as the extremists wants it to be, still the mastery is being sought in alternative means.
But there is also another truth that we have to admit and accept: that these robots have made our tasks easier, has given us more time to be with our families and to do the things we want to do.
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