I want to tell you the benefits of utilizing software to trade for yourself. Now, I have been a manual trader for many, many years. Now, utilizing software to trade for me over the last 30 days, I just want to go over my experience and the pros and cons on both sides of the coin.
One side of the coin, manual trading. The other side of the coin, software trading. Without further ado, let’s jump right to it. My name is Matt Jimenez, and if you don’t know who I am, I’m an entrepreneur who has worked with the greatest minds in finance over the last several years. I’m here to pour into you guys everything that they poured into me.
So today, I just want to be a realist. Let’s get down to manual trading pros and cons. On the flip side of it, I will talk about the pros and cons of software trading.
The first thing that I like to touch on is the implications of an emotional bias. As a manual trader, simply put, emotions come into play when making investments. Being so hands-on, quite literally hands-on, executing trades, you have an emotional bias to the position that you’re taking.
Whether it be in a certain asset that you love, or long or short, or your friend told you about it, there’s some type of bias there that will always give you an emotional input to what your action is. Utilizing software completely eliminates that. Forex god.
I’ve seen so many people, including myself, take positions based on emotion. But not only that, I’ve seen positions go south. You’ll execute a trade, and after X amount of time, the trade turns around. But it was going so well, and you’ve made such a big emphasis on your friends about this trade that you just simply don’t want it to go wrong. So you either continuously add more margin into the position and end up wiping yourself out.
There are so many caveats to how your emotions play into you executing trades that I simply cannot make a video long enough to elaborate on how in-depth your emotions play in your decision-making. Forex god. Literally, let’s break down the word emotion: it’s energy plus motion. Put them together, and you’re doing something with your energy at that current moment, translating it into a motion. Energy, motion, emotion—makes sense, right?
And the best thing about software is I don’t really have any intellectual input onto the software to say, ‘Do this trade or do that trade.’ There’s no bias there whatsoever. In fact, I am not even aware of all the trades it’s taking. Forex god. After a full day of trading, I have to go in and manually look at the log to see what we even did. I have no idea what we did that day because it did all the decision-making for me, which takes out a massive amount of stress.
As a manual trader, you’re thinking that you have to find a trade for the day, multiple trades for the day, multiple trades for the week, and so forth. Because now I’m not making any of the decisions myself, software trading eliminates all emotion. That is the number one benefit that I’ve felt thus far utilizing the software.
The next point I’d like to make is how omnipresent you could be on the charts as a manual trader. Let’s be real, there’s no possible way that you can be watching 24 pairs, which the software is always watching for me. I don’t have to watch any of it. There’s no way as a manual trader that you’re able to do that; it’s merely impossible. You could have as many monitors as you want. Even if you did fill up 24 charts on your monitors, you…
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