<h1>What You MUST Know Before Using AI in Forex</h1>
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<h3>Podcast:</h3>
 
<h4><a style="color: #008000; text-decoration: underline;" href="https://www.blueberrymarkets.net/lp/tftc-forex-broker" target="_blank" rel="noopener">Find out more about Blueberry Markets – Click Here</a></h4>
<h4 style="text-align: left;"><a style="color: #008000; text-decoration: underline;" href="https://theforextradingcoach.com/online_video_coaching_forex_course.html" target="_blank" rel="noopener">Find out more about my Online Video Forex Course</a></h4>
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<h3>#588: What You MUST Know Before Using AI in Forex</h3>
In this video:
00:25 – Can you trade using only AI?
01:22 – You are brave to trust AI to trade your money.
02:02 – Are you too lazy to trade?
03:20 – The knowledge and ability to trade for yourself.
04:34 – Knowing how to trade first.
05:09 – Get onto my 17 minute masterclass.
05:28 – Blueberry Markets as a Forex Broker.
05:40 – Have a chat with us.
05:57 – Like, share and subscribe to receive notification of more trading videos.
Can you trade using only AI? It&#8217;s a question I&#8217;ve been asked this week. I want to give you my opinion on that, so let&#8217;s get into that a more right now.
Hey, this is Andrew Mitchem here, the owner of The Forex Trading Coach with video and podcast number 588.
Can you trade using only AI?
I received an email just this week from somebody saying I&#8217;d like to trade using only AI, and I&#8217;d like to pass a prop firm using AI trading system through only using AI. Can I do that? How do I do it?
Well, you see, the obvious issue here is that is this person doing it because they want to save some time? Are they lazy? Do they not understand trading? Or maybe they do understand trading? You see, there&#8217;s a lot of variables out there when it comes to AI because of course it&#8217;s all around us and what we really like it or probably don&#8217;t like it, depending on your point of view.
It&#8217;s here to stay. But from a trading point of view, both from a personal point of view, mentally, a trading point of view is AI all it&#8217;s cracked up to be, and can you use it purely as your only way of trading?
You are brave to trust AI to trade your money.
Well, first of all, I would say you&#8217;ve got to be pretty brave if you&#8217;re going to be allowing your own personal capital. Let&#8217;s say, to be traded purely by AI. You&#8217;ve got to be quite brave. Let&#8217;s say you know something about trading. Okay. So you&#8217;re going to create an AI system. How did you go about it? What are the rules and the obvious upsides of expert advisors or trading bots or AI whatever you want to call it is it takes emotion out of trading. That&#8217;s the obvious upside. You know, it works 24 hours a day. I get all that. You know, it&#8217;s there&#8217;s a lot of, obvious upsides to it.
Are you too lazy to trade?  
But the problem is, is if you are doing it simply because you can&#8217;t be bothered or you&#8217;re lazy or you think you&#8217;re too busy to trade, well, do you have enough knowledge about trading to know what it is that you&#8217;re creating?
How do you know what rules to create? How do you know when it&#8217;s working or when it&#8217;s not working? Sure, you can go, well, it&#8217;s making me money or it&#8217;s not okay, so let&#8217;s say it&#8217;s making you some money. What happens when it stops making you money? Is that the bot that suddenly or AI that suddenly changing? Or is that the conditions in the market?
How do you know about testing this back? Testing it live for testing. If you don&#8217;t put time and effort into it, you see people I believe think that AI is going to be this magic shortcut to being lazy, not putting time, effort, or knowledge into it. I can see that the upside to AI is going to work for someone who is prepared to work hard, who does understand trading, who does know what they&#8217;re looking for, and it&#8217;s just using it as an aid to maybe place the trades for them and manage trades for them, or they&#8217;re looking for new ideas.
Those type of people will probably do okay from AI. The person out there that just, thinks that can magically make them a multi-millionaire next week because they really can&#8217;t be bothered to learn how to trade. I don&#8217;t think you&#8217;re going to do well, and I don&#8217;t think it&#8217;s going to end well, or it&#8217;s the right way for you to go.
The knowledge and ability to trade for yourself.
You see the other point that as a manual trader, I think that&#8217;s so underestimated. It&#8217;s up here. It&#8217;s that ability for you as a person to have that knowledge, that reward that, that, ability to see something on a chart, to make a decision with your brain and your common sense and your information, your knowledge, your eye, and to be profitable and to be right, and the immense amount of satisfaction that you have, knowing that you can do this.
You see, if you put all your eggs in the AI basket and it suddenly stops working, then what would you do? How would you know it stop working? Apart from losing you a lot of money. But how do you fix that if you don&#8217;t understand trading? So I think it&#8217;s really important that you have to understand trading. Have a background, knowledge, information, whether you then decide to actually place the trades manually or place the trades automatically or create your own bots, AI. I would strongly suggest that if you don&#8217;t know how to trade manually, by yourself, then you should do that first. Regardless of where your end goal or destination might be.
Knowing how to trade first.
So you have to know how to trade mentally. It&#8217;s massive to know that you can control your financial future by having that decision that influence on what you do when you do it, how much risk you&#8217;re taking, what trades you&#8217;re taking, what markets you&#8217;re trading, what time frames you&#8217;re trading, all those type of things massive when you can do it properly.
Believe me, it&#8217;s just an amazing feeling. It&#8217;s a little bit like me learning to sing now or learning to play the guitar or when I was learning to fly, learning to, you know, to practice karate, all these things, they all are massively rewarding once you put the effort in upfront.
Get onto my 17 minute masterclass.
And so if you&#8217;d like to find out how we trade and how we can help you to trade and be successful as a trader, by the way, we trade noble in 30 minutes chat time a day, so you don&#8217;t have to be sitting there glue to your charts. Click on the link to watch. My short masterclass is on demand so you can watch it when it works for you.
Blueberry Markets as a Forex Broker.
If you&#8217;re out there looking for a top quality broker, I can highly recommend Blueberry Markets. I&#8217;ll put a link to Blueberry markets there as well. Multiple markets, multiple time frame charts on their MT5 platform especially. And if you&#8217;d like to book a call to have a chat with one of us to find out if we&#8217;re a good fit and if we can help you to become a good trader.
Have a chat with us.
I&#8217;ll put a link here so you can, book up a time to, to have a chat with us and to see if we can help you becoming a profitable trader.
Like, share and subscribe to receive notification of more trading videos.
So that&#8217;s it for this week. This is Andrew Mitchem here at The Forex Trading Coach. Don&#8217;t forget to like and subscribe or share this around if you&#8217;re watching.
And I&#8217;ll see this time next week. Bye for now.
<h2>Episode Title: #588: What You MUST Know Before Using AI in Forex</h2>
<hr />
<h4 style="text-align: center;"><a style="color: #008000; text-decoration: underline;" href="https://www.blueberrymarkets.net/lp/tftc-forex-broker" target="_blank" rel="noopener">Find out more about Blueberry Markets – Click Here</a></h4>
<h4 style="text-align: center;"><a style="color: #008000; text-decoration: underline;" href="https://theforextradingcoach.com/online_video_coaching_forex_course.html" target="_blank" rel="noopener">Find out more about my Online Video Forex Course</a></h4>
<h4 style="text-align: center;"><a style="color: #008000; text-decoration: underline;" href="https://theforextradingcoach.com/call-application" target="_blank" rel="noopener">Book a Call with Andrew or one of his team now</a></h4>
<h4 style="text-align: center;"><a style="color: #008000; text-decoration: underline;" href="https://theforextradingcoach.com/propfirm-masterclass/" target="_blank" rel="noopener">Click Here to Watch Prop Firm Masterclass</a></h4>

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