Im very interested in getting a Forex robot to trade for me. I have heard great things about forex robots, But I am not sure which forex robot works the best. Im a new to forex completely and Im just looking for an automated way to make money from home. Would you even recommend trading with a forex robot at this current economic time? How much many can make with a forex robot and what is the best forex robot from your personal experience. Please help. Thanks
What is the best forex robot available and do you recommend?
wiseman168
Junior member
- Messages
- 31
- Likes
- 0
Tried Forex Robots. In my opinion they are all crap
ha0dho
Active member
- Messages
- 185
- Likes
- 10
NONE of them!! How about try learning to trade
meanreversion
Senior member
- Messages
- 3,398
- Likes
- 538
This is mindblowing. You know nothing about trading, but imagine there is a piece of software you can download from the net which will then churn out £100s of profit every day?
Mr. Charts
Legendary member
- Messages
- 7,370
- Likes
- 1,200
Do this and you will lose your money. Either learn to trade (which could take several years) or give up now before you have lost anything.
lol
B
Black Swan
littlebopip
Junior member
- Messages
- 28
- Likes
- 1
I haven't tried forex robots myself, mostly because I'm scared of getting scammed. I read somewhere in BabyPips School that these EAs that guarantee profits at a very cheap cost are most likely scammers. But then I also read that there are good automated systems out there, it's just a matter of filtering out the bad ones. I suggest you visit ReviewPips.com to see the reviews on EAs and robots other brokers used.
First, you should know that Forex is not that easy. Do not believe those who may say it is!
There are some good robots that MAY help you. Some are scam. Others are for real.
Simply put, a Forex robot is a program that attempts to take the guess work out of trading currencies. Currently there is a lot of information floating around the internet about these products. Like any other tool, it needs to be used properly in order to be most effective.
Like I hinted, in order to use this tool the right way you need to understand a little bit about how it works and where it is best applied.
A Forex robot is a computer or computer program that monitors currencies and does calculations to figure out the best time to buy and sell. These programs help to take some of the guess work out of buying and selling and can help a trader to identify currencies that meet certain criteria, or when certain currencies perform in certain a way. Most of the selling points of Forex robots state that you can simply set them and watch the cash come pouring in. While in some cases this may work, in most cases you are going to need to carefully monitor the program and make sure that it is adjusting to trends in the market. While they can be very profitable they may require a certain amount of intervention to be run effectively. Used properly, and if you have the patience to get to know the programs, they become a powerful tool.
There are some good robots that MAY help you. Some are scam. Others are for real.
Simply put, a Forex robot is a program that attempts to take the guess work out of trading currencies. Currently there is a lot of information floating around the internet about these products. Like any other tool, it needs to be used properly in order to be most effective.
Like I hinted, in order to use this tool the right way you need to understand a little bit about how it works and where it is best applied.
A Forex robot is a computer or computer program that monitors currencies and does calculations to figure out the best time to buy and sell. These programs help to take some of the guess work out of buying and selling and can help a trader to identify currencies that meet certain criteria, or when certain currencies perform in certain a way. Most of the selling points of Forex robots state that you can simply set them and watch the cash come pouring in. While in some cases this may work, in most cases you are going to need to carefully monitor the program and make sure that it is adjusting to trends in the market. While they can be very profitable they may require a certain amount of intervention to be run effectively. Used properly, and if you have the patience to get to know the programs, they become a powerful tool.
BumBumBum
Member
- Messages
- 66
- Likes
- 0
My friend, there is a truth only best of robots are working. You need to make very deep research to find good one that fits you. There are couple tips that can help you:
- Good back testing results. (This meanings nothing by it self, but as a part can be used)
- Real forward testing results for year or more.
- Price! There are no good cheap thing in this world.
- Contact support and check them, what will be the answer, how fast they will respond.
Good luck.
Experience is child of mistakes.
- Good back testing results. (This meanings nothing by it self, but as a part can be used)
- Real forward testing results for year or more.
- Price! There are no good cheap thing in this world.
- Contact support and check them, what will be the answer, how fast they will respond.
Good luck.
Experience is child of mistakes.
the hare
Senior member
- Messages
- 2,944
- Likes
- 1,282
Surely determining metrics to indicate when to turn the bleedin thing off is a key part of the design process ? (well it is for me anyway !)
That's too much hard work for most.
The majority want it very easy, buy a system/strategy/robot, turn it on, collect the money at the end of the week.
wackypete2
Legendary member
- Messages
- 10,211
- Likes
- 2,058
Now that is one of the most sensible comments relating to robots i have seen on this site.
With a robot you need to keep a very good log of what you expect it to do and what it is achieving. Optimize regularly and know when to turn it off. These are the keys to being profitable with automated trading.
This is why i dont hold with the standard advice of run a single 10 year back test. Why run a 10 year test? You wouldnt expect any system to be consistently profitable with exactly the same parameters over 10 years. Optimize over a month then walk forward or back a month and test. Pick a month a year ago, optimize then walk that forward a month in a test. Do this several times so you have several snapshots of periods in the recent past and more distant past. If you find the walk forward tests are consistently profitable then you have a good EA. It doesnt matter if the settings in the first month test are different to the month from 2 years ago.
