Every since the Internet came about, you have been able to find some type of money-making software. It is absolutely no different with the Foreign Exchange Market. Just a simple Internet search will reveal millions of so-called guaranteed options to automatically trade for you.

The hope is the same for everyone – turn on the robot, go to work or out to the park or back to sleep, and when you return to your computer, you’ll find piles and piles of cash that the robot has made. Hey, it’s not like people are asking for a lot!

But, without fail, people have to learn the hard way that no system is as easy as touch-and-profit. If there were guaranteed success systems out there, no one would be struggling. Everyone would invest a few hundred dollars to become rich. The simple truth of the matter is that Forex robots aren’t always the best move.

Almost every person to profit in Forex says that it takes a few intangibles:

• Learn to trade the basics and do not invest until you have a firm understanding of the marketplace
• Develop your own system trading strategies that are sound and able to evolve
• Use a sound money-management system to make profits
• Keep your emotions in check and trade in the black-and-white

This is part of the reason robots are so popular. Except for being able to revise strategy once locked in, a robot has no emotion, only trades what you allow it, and “understands” the market, obviously, as it was designed to.

The Working Formula of Discretionary Tactics

The discretionary approach has a leg up on robots out there. It is always a good idea to have some sort of automated program, even if it is just a simulator to teach you more about the market, but a live trader, able to get an objective read on the market and understand the crowd, will always have an advantage.

Even the best robots on the market need live traders to program them. Robots set up logical stop losses and profit targets, and the market is designed to defeat them by making deals outside of the robot’s wheelhouse. A discretionary approach, using the criteria mentioned above, allows you to see how the market is evolving and trade or abstain where your robot would not.

As long as you can develop a thorough understanding of the market and keep your emotions in check, you should have no trouble doing everything a robot can, albeit not as quickly. At the end of the day, though, human intuition simply beats out robotic intelligence.