Expert Advisors or Human Traders?

Hello.

Which group takes the most of profit in currency market: Expert Advisors (Automatic trading algorithms) or normal traders that sit in front of chart and do some analysis?

I have heard contradicting statements regarding this question, so if anyone has some information I would appreciate your help.

For a top discretionary trader equivalent to subconscious competence, money flows into his account effortlessly and at his will. He is so bored of making money.

A top discretionary trader looks at price for 60 seconds, form a trading plan and put the entries in.

To become a top discretionary trader is a journey of putting at least 5000 hours in trading skill development before putting the first live trade.

A top discretionary is always learning and adaptable to changing market conditions. 5000 hours of initial development is good to get started.

One of the key features of top discretionary trader is recording price action daily in journals. He does not miss that as it serves as a bible for learning and revision.

A top discretionary trader is outstandingly fluent in recalling price action of previous days, months and years. For example: if you ask him what happened in markets on June 29, 2006, nov 28, 2007, Jan 31, 2009, April 21, 2010, he will tell you in fraction of second the price action behavior on those dates.

I am a discretionary trader and i hate automatic robots.

Thanks for your informative post.
I agree with you but I think if we can gain knowledge about whether trading robots are making profits in this market we can use that information to make profits.

I like to eat, sleep, take coffe breaks, and go out. My robots work 24/7. Poor guys. No food, no breaks, no pay. So some days I make 10%, other days I can't get out of bed. My robots just consistently ka-ching ka-chng, even the nickels and dimes add up.

Does anybody have any type of information regarding my question?

Yes, some people have access to the facts. Those are the reps that are in the broker discussion threads. They can see the results of EAs runnig and of individual traders. I expect there are few very profitable EAs, just like few very profitable traders (just my guess). Really good EAs are not shared. The brokers know which ones they are and can copy their trades ... but would they do that? ... Nnnaaahhhh ;=)

If you are talking about the Retail Trading Community I'd say if some of them manage to get any money from the market over a longer time periode (multiple years) they do it with discretionary trading.
No strategy that simply waits for a number of indicators to agree will make any money over the long term all on it's own just by running the programm.

On institutional level I would say that the most money is made with High Frequency Trading and Arbitrage etc. But that is in no way comparable to what we know as "Expert Advisor" Trading.

It is my belief the server EA knows exactly, from directly reading the client platform, what you're doing and where and how many billions of our own account money to instantly counter any number of traders or "expert advisors".

Does it channel this information to our trans-dimensional lizard overloads?