Do Forex Robots Really work?
Hi,
Robots are good for three purposes:
1. People who do not know how to trade can find one robot that does the job, and let it work for them. These people should do their research, for profitable robots are definitely not easy to find. One important thing to remember: a robot will work fine for a while, and then the market will "get the point" and the robot will start losing. That means you should pay attention to the time you need a new robot.
2. Traders who have a strategy with weaknesses. They can use robots to overcome these weaknesses by using them in specific points where they know their strategy fails. They must do very intensive research to find a robot that fit their exact need.
3. Traders who want to combine a portfolio of winning robots. They must analyze and know when to use each robot. Their job is kind of "robot managers".
Do Forex Robots Really Work?
In a word - no, they do not. Any overly-optimized, curve-fitted black box system is only going to do one thing - cause your account to crash and burn.
Rather than spending big bucks on some "holy grail" EA pushed by some salesman, it's better to learn how to trade.
Speaking of salesmen, it amazes me that the most banal, obvious question is never asked - if your EA is so good, why aren't you using it to trade the markets yourself? If their systems really worked, they'd be traders, not salesmen.
Forex robot is a program that attempts to take the guesswork out of trading currencies. Currently, there is much information circulating on the Internet about these products. Like any tool, it must be used properly to be effective.
most forex robots are running behind the price movements, so it is pretty risky to let them work instead of you. I usually use semi automatic mode.
any body can suggest me any robot which can gain around 20 pips per trade then continue for the next trade..tq
any body can suggest me any robot which can gain around 20 pips per trade then continue for the next trade..tq
Should try them all by yourself because someone made 20 pips but maybe you wouldn't gain such amount!
I would like to share an idea I got for the same question I used to wonder with you "The answer is yes, they do work...but there is a small catch. Most traders plug their systems into their accounts and expect for it to make money completely on autopilot week after week. While it may be true that they do make money on autopilot, there is some "maintenance" required to keep a forex robot running at peak performance. Otherwise the amount of profits it makes will begin to drop, and may even go negative."
Any auto ea will not work even for 3 month without optimization. I You want to become really successful trader - improve Your skills and learn to trade by yoursefl. The only acceptable thing is to use automated exits
Any auto ea will not work even for 3 month without optimization.
I've generally found that walk forward optimisation really isnt a particularly good idea, in fact, its generally best avoided.
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Forex Trading Robots are designed to automate the process of Forex trading. They are also called Forex Trading Software, Forex Trading Systems, EA etc.
A Forex robot is a software that has a trading system programmed into it. These robots have grown in popularity for a number of reasons. One big reason is that the robot itself performs it's duties exactly as it was programmed to.
Another reason trading robots have grown in popularity is that individuals want to be able to trade profitably while gradually and safely learning how to develop their own trading system. As a result many are searching for the best Forex trading robot programs with expert advisors that can consistently make them money.
So, should you use Forex robots to trade? In reality only you can answer that question as you best understand your trading goals. You should understand, however, that all Forex robots are not created equal. In fact, there are huge differences between them and it will be important that you evaluate any trading robot very closely before buying them.
Based on what I have seen out there, it would be safe to speculate that a great many of the Forex robots on the market today don't have what it takes to help you become successful. After buying most of these products and putting them to the real test of an actual forex trader, I can tell you that only few forex robot products I tried actually worked.
Forex Currency trading can be very rewarding if you approach it like a business and take it seriously. Every good business realizes that they need the proper tools to do the job at hand. Forex trading is no different and you should arm yourself with every available tool that you can find to make your business more successful.
For detailed and exhaustive review of systems and strategies I have had experience with, you may want to visit:
Unbiased and Objective Forex Robots and Systems Review