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Due to the advent of forex robots, there has been a huge rise in the number of people going in for automated forex trading systems. This has led to a decrease in the number of people trading on traditional, manual trading platforms. All this has led to a fall in the number of independent forex traders in the market.
Though it might not be practically possible to create a manual trading system that is correct every time, but there is still a possibility of creating a system that can consistently earn money for you. All that is required for the creation of such a system is a bit of research and a little spare time to implement the strategy involved with such a system.
Building a manual system, isn’t so Easy
Now, to design a good manual trading system, you require a sound enough thought process and some amount of skill. But before trying to implement such a system, you need to understand in what way would you like your system to function and what type of trading would you be dong by using your system. Also, you need to realize that there would be some risk involved with the creation and implementation of such a system, so are you ready to take that risk.
Benefits of using Manual Trading System
The benefits of using such a system for the purpose of forex trading are that you have complete control over what you are doing. Also, since you are following a strategy and are not executing random trades you are not subject to the kind of risk which most common forex traders take. Also, most of the forex robots available in the market do not do a very good job in the real scenario, whereas a manual system can help you take into account the changes in market scenarios while trading in the forex or currency market.
Another reason for the use of a manual system is that by using a manual system you can use qualitative factors to judge the current market scenario, this thing is not possible in case of an automated forex system. Also since a manual system which has been used again and again is suited to the working of the currency market, it is far more difficult to lose out on trades as compared to automated or other methods of forex trading.
Final Verdict
Thus, it can be said that although it is difficult to set up and use a manual system of forex trading, the advantages of such a system far outweigh the disadvantages. Also, using such a system is bound to make you profit in the long run as both automated and random forex trading systems are known to be less profitable in the long run.
