My personal view is this. You will only be competing against machine the lower time frame that you go. That means the shorter and shorter term you go, that’s where the machine will have a better edge compared to you. That’s the first thing.

That is the reason why, in order not to compete with the machine, you have to try to go longer time frame, rather going shorter time frame. Even so, I do know of traders who are doing very well. Even they are doing short-term kind of intra-day trading.

So this is my take, the thing about machine is that machine at this point in time they are not so smart enough to be able to measure or to make decisions about how the market participants are behaving. Because you gotta understand this. The thing is that market prices move up and down because of what? Because of market participants. And market participants decide to get in or get out of a trade, could be all sorts of reason. For example, why do you finally take your loss on that second and the third trades that you did?

It was because of fear. Okay. And you took your profit on the first trade because of what? Because it was a sudden jump and then you scared that you would lose the profit, you quickly take it. So my question to you is this, do you think a machine would reasonably have any capability of being able to go inside your brain and know and study you and know when you are going to exit a trade or when you are going to take a profit., when you are going to exit with a loss.

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Philip Teo

Founder & CEO at Traderwave Pte Ltd
Philip Teo is an entrepreneur, speaker and trading coach who specialises in the field of Technical Analysis of the financial markets. He is currently the Founder and CEO of Traderwave Pte Ltd, a financial technology company that offers a web charting application to global traders. He has conducted many trading seminars and appeared on national television before. He is also currently an official speaker and trainer with SGX Academy. Learn more about him at his Google+ Profile, LinkedIn Profile and Facebook Profile

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