FOREX ROBOTS: FACT OR FICTION ?

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FOREX ROBOTS FACT OR FICTION ? In the present
era, Artificial intelligence has emerged as a
popular human invention. Be it a normal bank
transaction or unlocking our phones using facial
recognition, everything seems to be automated.
But the question is Is AI really paving the way
for us? Yes, Undoubtedly! Living with this ease
would not have been possible without it. While
making rapid technological advancements in all
fields, artificial intelligence has not failed to
touch forex trading. Forex trading robots are
there in the market, selling hopes for the
individuals to help them build a fortune. Had it
been the case that the person creating the forex
robot would not have sold it in the first place
or else everyone in this world would want to buy
a forex robot. Further, we all are well aware of
the fact that the forex is the largest market in
the world with a daily volume of 6.6 trillion
as per the survey done in 2019 by the Triennial
Central Bank Survey of Forex and OTC derivatives
market. In such a hugely volatile market, a robot
promising to make money seems much like a scam.
It might give you profits at some initial stages
by promising a fixed rate of return on a daily
basis and lure you into making more investments.
But, at a later period of time, you might suffer
a big loss and lose your already attained
profits also. We must understand that the
intelligence quotient alone cannot overpower the
emotional quotient. Although a forex robot might
watch the market 24X7 and monitor a dozen
indicators, it cannot work with human
intuitions. By human intuition, we are not
talking about gut feelings or human emotions. In
trading, human intuition is a form of
subconscious recognition of market patterns that
a trader gets after he has spent thousands of
hours in front of his charts. AI cannot replace
that. It is almost impossible to create a robot
that will make a profit in all the given
scenarios. Jean Baudrillard has rightly said that
The sad thing about artificial intelligence is
that it lacks artifice and therefore
intelligence. Many institutions spend millions
to create such robots, but, still, they do not
neglect traders because eventually without
emotional intelligence, artificial intelligence
is incomplete. Further, we must also not ignore
the loss that AI has caused in terms of
unemployment. Computers are increasingly
invading the human domains at a very fast pace.
As per the recent survey by The International
Labour Organisation in 2022, the unemployment
rate is 5.7 with an estimated 205 million
unemployed people. Indeed, Machines replacing
humans has its own pros and cons. But, then the
question arises again, Will machines wholly let
us out of brain jobs?. Well! Claude Elwood
Shannon once said that I visualize a time when
we will be to robots what dogs are to humans,
and I guess that time is now. Article Source
FOREX ROBOTS FACT OR FICTION ?