Are robots really effective or not?

[aj7harrison]

Does forex robots are really works or not.i want to know about it in detail please guide me.

Thanks in advance for your advice.

 

[fxdean]

Personally, I don't use robots.. though some successful traders to use robots in their plan. One this is for sure, nobody has successfully replaced themselves with an fx robot, so they can sit back and get the profits-- that's science fiction.

Check out some review sites about robots.. there's a few good ones around. (e.g. Please think hard before spending your money on robots however.

 

[HowardCohodas]

I am a software engineer and I know my limitations in creating bug-free programs. I prefer a decision-support approach rather than a decision-making approach. That is, I prefer to have my brain and fingers between the program's advice and order execution.

 

[futuresforex]

Robots might work in certain market conditions and fail miserably in other market conditions. Other robots like to average down losers and use huge stops, hoping to make money when the market goes a little bit in their favor. Such trading methods may make short term profits, but will fail in the medium and long term.

Trading like anything else is a business. If you were to outsource 97% of your business to some robot and you have no idea how it generates buy and sell signals, and no idea how it handles different market conditions, then you are setting yourself up for disaster.

Just my opinion.

 

[shadowninja]

There are good robots, but I doubt you could buy it for £50 plus a free book on forex and a year's free coaching... I know someone who codes bots for a hedge fund and does rather well out of it.... so if you're willing to pay an AI coder upwards of £100k a year, I'm sure you could get a nicely working bot.

 

[Pazienza]

Does forex robots are really works or not.i want to know about it in detail please guide me.

Thanks in advance for your advice.

If it is one that you (as a retail trader) are able to buy from someone on the internet via a website with text in many colours and fonts, and pictures of speedboats, the answer is:

No.

 

[pboyles]

If it is one that you (as a retail trader) are able to buy from someone on the internet via a website with text in many colours and fonts, and pictures of speedboats, the answer is:

No.

Like this one, perfect example, guaranteed to be a scam. Just watch the crap video.

http://forex-megadroid.com/?hop=robrebecka

 

[lasso49]

I think - as every thing in life there are pros and cons:
- Robots follow fixed (programmed rules) laws
- humans tend to over react, get gready or too shy to take a risk
So if you want to get out best out of both worlds my conclusion is to have a trading plan and follow it without ifs or buts. Essential is understanding charts, different time frames to recognise trends, looking at news that could influence your trades and being flat before gods like Bernanke or other money muppets speak. Thats what bots lack und human beings can do. Look at news and knowing how quotes can over react before or after release of news not knowing how they will be interpreted by the big players. Imo only a human being can adopt by experience to scenarios like that and take out profit of it. To initiate trades by support or resistance levels, historic lows or highs, triggering Fibonacci levels or whatever is nice. But how do you want to take advantage of all this? You would need a 24 hour running server (or rent it) to be sure to miss nothing. So you pay your bot(s), a good reliable server and then think about the profit you need to make to pay it and have some bucks for your own. For sure two will have a nice profit. The one who sells the bot and the one who sells you server time. Nobody of them will be very shocked if you crash your account in the meantime.
That was simply then bad luck for you ....

 

[Pazienza]

Like this one, perfect example, guaranteed to be a scam. Just watch the crap video.

http://forex-megadroid.com/?hop=robrebecka

That's good, pboyles, that's good. But I think you're bluffing. I'll see your forex-megadroid, and I'll raise you one...FAP TURBO!

http://www.fapturbo.name/



You ought to write a guide to spotting the scam sites, all of them seem to have so much in common . You know, the randomly distributed bold and underlining, the multi-coloured text, etc etc.It's as though they all operate from the same scammers' template .

 

[lasso49]

"As useless as tits on a fish..."

*lol* tell this a male fish

 

[Pazienza]

Forex Mega-Droid:

The headline:

“Forex Megadroid™ Indisputably Proves A
Robot Can Trade With 95.82% Accuracy In
EVERY SINGLE Market Condition And At Least
Quadruple Every Single Dollar YOU Deposit”

And the small print:

All results shown on this website are hypothetical, back-tested results.

You've gotta love back-testing.

 

[Pat494]

"As useless as tits on a fish..."

Years ago I had a really pretty girlfriend called Miss Fish

She had a beautiful pair of tits I still remember them

Didn't say much but her TITS were large and shapely and the best of the best in the annals of a connoisseur of such matters

 

[Pazienza]

Years ago I had a really pretty girlfriend called Miss Fish

She had a beautiful pair of tits I still remember them

Didn't say much but her TITS were large and shapely and the best of the best in the annals of a connoisseur of such matters

Did she give you fish fingers?

 

[Pat494]

Did she give you fish fingers?

probably
we lived togethor in a flat in Olympia - unmarried bliss
those were the days

 

[Pazienza]

those were the days

 

[TradeTraka]

That's good, pboyles, that's good. But I think you're bluffing. I'll see your forex-megadroid, and I'll raise you one...FAP TURBO!

http://www.fapturbo.name/

That's quality! LOL!!
It's almost as if they've designed it as a parody site!

 

[t2wfx]

These EA's are a joke... i feel sorry for those who bought them... especially the famous Fapturbo! Zzzz....

 

[Pat494]

There is a website that runs different systems that others can invest in and some make money.

Perhaps somebody has their address

 

[trader-john]

Does forex robots are really works or not.i want to know about it in detail please guide me.

Thanks in advance for your advice.

Can EA make money for 3-4 months - Hell yes! Can EA make money for 1-2 years without any updates.- NO!!! There are bunch of trash on this market and many people were scamed, some couldn't set up everything correct because every EA has his own installation logic and input parameter.

Is there profitable EAs on a market - yes. Is it hard to find working one - Absolutely.

 

[Pat494]

Is there profitable EAs on a market - yes. Is it hard to find working one - Absolutely.

Common you can tell us - don't be shy