Trading with robots on Forex?

hefoba

Active member
Hi,

Let's talk about automatic trading on Forex.
There is a lot of bad tools on the market but also a lot of people trading automatic on Forex.

Are you one of them? I am.
My systems need a least 5000 Euro so nothing for small account but works.

Trusting the system is the biggest problem I face. What problem do you have?
 

Farm Yard Forex

Well-known member
Hi,

Let's talk about automatic trading on Forex.
There is a lot of bad tools on the market but also a lot of people trading automatic on Forex.

Are you one of them? I am.
My systems need a least 5000 Euro so nothing for small account but works.

Trusting the system is the biggest problem I face. What problem do you have?
I just don't think EAs work long term. I have tried some and yet to find one that does. The time spent worrying about them I ended up spending focussing on my own manual trading.
 

hatemypips

Established member
Hi,

Let's talk about automatic trading on Forex.
There is a lot of bad tools on the market but also a lot of people trading automatic on Forex.

Are you one of them? I am.
My systems need a least 5000 Euro so nothing for small account but works.

Trusting the system is the biggest problem I face. What problem do you have?
Is it scalping based on price action or you use other sources of information like news?
 

Henow1969

Well-known member
The best way to trade with robots is to set your stop loss and take profit levels when you place your initial order. Not to be greedy and not over-optimistic is the way to go. Because this is a volatile market, a currency may move in your direction but then reverse, leaving you in a bind! Keep your targets small and you can do well.
 

HeavLeighGill

Active member
A couple of my friends got burned using EAs a few years back and I've stayed away from them ever since. I do think there are some good ones out there but don't want to take the chance trying to figure that out.
 

dusktrader

Junior member
I think I would not trust an EA built by someone else. I am working on writing my own bot and it has been an interesting journey! There is no way I could keep track of all the nuances in someone else's bot. For example you would think it should be simple to code the bot to follow a simple strategy of entry and exit rules. But I've found that there are so many weird scenarios that come up regularly that I wasn't thinking of. Every time this happens I have to stop and study the situation to figure out what happened, then change the code to fix it.
 

sharabela

Active member
Hi,

Let's talk about automatic trading on Forex.
There is a lot of bad tools on the market but also a lot of people trading automatic on Forex.

Are you one of them? I am.
My systems need a least 5000 Euro so nothing for small account but works.

Trusting the system is the biggest problem I face. What problem do you have?
I never tried automated trading on my live account. Yes, I tried on demo account to find out how they work. I do not have enough trust to leave my live trading with an automated system. Yes, I have heard that there are some good automated systems that help traders earn money. I have not found and tested by myself any one of them yet.
 

dusktrader

Junior member
One thing I've found is it helps to focus on out-of-sample forward testing. During this stage, you use the history pricing data to first optimize your bot parameters during a sufficient length (I am currently testing with 10 years of history) and then apply some form of walkforward that involves out-of-sample data to validate.

For example, I may test and optimize my strategy from 1-July-2009 thru 30-June-2019. Then I'll expose the bot to not-seen-before data during the quarter 1-July-2019 - 30-Sept-2019. I perform this optimize + walkforward repeatedly until many cycles exist. Then I graph the out-of-sample results and study them. In my findings, they will usually look "great" or "terrible" ... if they look great, then I trade them.
 
 
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