FX Trading Psychology
MANUAL & ALGORITHMIC TRADING STRATEGIES
Introduction
A common dilemma for FX traders is whether to adopt a manual or algorithmic trading
strategy that
produces profitable outcomes over the long-term. But this question requires an individual to really understand their own capabilities when it comes to making decisions
24 FX TRADER MAGAZINE July - September 2013
in high-pressure trades; and to recognize how technology can help overcome limiting psychological habits. All FX traders are susceptible to human tendencies that can affect judgment. But those who have the ability to monitor the patterns of their own mindset stand a far greater chance of developing a strategy that is consistently profitable.
Manual trading: benefits and limitations
A manual strategy relies on the discretion of an individual trader. Substantial trading experience and a deep knowledge of the FX markets are huge positives when it comes to forming profitable trading strategies and should never be discounted in
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