Do Forex Robots Really work? - page 2

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Ahmetov:
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

Absolutely, market conditions aren't constant so you have update your strategy.

 

Dear,

forex robots only work under certain market conditions.

Example: A trend following Expert Advisor stop working when

market become sideways.

If you have an automated trading robot then make sure you know when to stop using that robot at an in-appropriate time.

So most E.A only work when you change the E.A when market changes.

I hope you got the idea.

Kind regards,

-Muhammad Azeem

Forex Elliott Wave Forecast - Free Elliott Wave Analysis Newsletter

======================================

 
adzharisalleh:
any body can suggest me any robot which can gain around 20 pips per trade then continue for the next trade..tq

Not to sound arrogant, but you sound new and therefore naive Just trying to save you money and headaches.

Here's a link to my post on the same subject in another thread:

https://www.mql5.com/en/forum/198455

There's a link to a robot review site that has a good reputation, compared to the scam review sites that are create to sell you their robot.

/go?link=http://www.forexpeacearmy.com/forex-strategies

 
SamForex:
Absolutely, market conditions aren't constant so you have update your strategy.

Exactly like that.

 

Sometimes!

 

I would say a EA can never make judgments or decisions as You can. Sure they are smart but keep in mind the Market is smarter . besides once that EA starts to fail then that person is left broken hearted and searching for the next thing and time is lost and now they are scratching on peoples doors for the quick fix they once had before as its most of the time ingrained in their mind to have it easy.

Trading is Fun and exciting Why not learn to trade and practice your heart out and take a few pips here and there.

 
Ahmetov:
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

There are some good EAs, but you need to work with them long enough before trusting them for trading on a live account and you have to monitor what they are doing and interfere when necessary.

 

Hi guys,

I'm new to the forum and to forex in general. I read in the financial news that the big banks like Goldman and Merryl Lynch use automated trades worth hundreds of millions of dollars a day. It's why they had to shut down the markets that one day because all the robots thought that that there was going to be a crash and did a mass sell off across many banks. So i'm guessing if the big banks robots make mistakes then then the ones available for the average citizen can't be that good.

am i wrong?

i read the forum but didn't think the question was answered decisively one way or another

 
oilfxpro:
ONLY USELESS NON TRADERS USE eas , because these fuckheads can't trade themselves.

Can I assume that you dont include yourself in that sweeping generalisation ?

And do you know what percentage of the forex market is traded algorithmically these days

 

There are many ways to trade Forex, and it all depends on your own personality and needs. Nobody can truly say that "Forex Robots Don't Work", just that it didn't work for them.

If you're serious about using Forex robots to trade, you need to know that it's not as easy as just plugging it in to your computer and letting it run forever. As some posters have mentioned, you need to fine tune your robots in and of themselves, and in the context of a portfolio as well.

Most importantly, you need to know what to expect from your system, and when it's moving outside of those expectations it's time to re-evaluate.

Thad B.

Professional Forex Systems Developer

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