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Author Topic: What Is Your Take On Forex Robots / Machines  (Read 7565 times)

Offline indicator

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Re: What Is Your Take On Forex Robots / Machines
« Reply #45 on: February 24, 2016, 06:11:10 AM »
Forex robots are only a waste of time and money. You cannot get any consistent income by using any trading robot in your trading.

Online diyforexskills

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Re: What Is Your Take On Forex Robots / Machines
« Reply #46 on: February 24, 2016, 06:37:59 AM »
Quote from: indicator date=1456294270 link=msg=352786

Forex robots are only a waste of time and money. You cannot get any consistent income by using any trading robot in your trading.


I beg to differ. Or at least offer an alternative view.

1. Robots are programmed to make profits under certain market conditions, usually determined via back testing over a specified period. It is therefore logical that when market conditions change, say in terms of volatility and/or periodicity, then these robots will fail. Solution? Only trade these robots when the market conditions are favourable for their particular strategy.

2. Some robots, like FX Autotrader Elite, are fully customisable and hence they are an excellent tool to practice and test new strategies. On demo of course in the first instance. The beauty of this approach is that you can test ideas and learn, but all on auto pilot. So no more sitting at your computer for hours on end. A much less time-consuming way especially since you can test many strategies over the same period.

http://www.fxautotraderelite.com/
Information and product page - http://www.diyforexskills.com/forex-tools/




Offline diamond

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Re: What Is Your Take On Forex Robots / Machines
« Reply #47 on: February 25, 2016, 02:29:14 PM »
Manual trading is valuable in all situation we had a good control on trading. I do not use robot in trading just make some experience with them on demo but not satisfied. One should make himself skilled by manual trading.

Offline resistance

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Re: What Is Your Take On Forex Robots / Machines
« Reply #48 on: February 26, 2016, 02:18:14 PM »
Quote from: Forex Verified link=msg=352359 date=1455122146


Scalping robots require tight spreads and minimal slippage to work. You may have had a good scalping robot but your trading account didn't provide good trading conditions; or you may have had a bad EA.

Maybe you right, trade scalping required good connection to the server and disconnect problem also as the cause of fail robot to worked, but now I am not use robot anymore and comfiortable trade with manual analysis.

Offline Forex Verified

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Re: What Is Your Take On Forex Robots / Machines
« Reply #49 on: February 26, 2016, 03:05:50 PM »
Quote from: resistance link=msg=352852 date=1456496294

Quote from: Forex Verified link=msg=352359 date=1455122146


Scalping robots require tight spreads and minimal slippage to work. You may have had a good scalping robot but your trading account didn't provide good trading conditions; or you may have had a bad EA.

Maybe you right, trade scalping required good connection to the server and disconnect problem also as the cause of fail robot to worked, but now I am not use robot anymore and comfiortable trade with manual analysis.


The same can happen on manual trading as well - open order and get disconnected without being able to close the order.
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Offline indicator

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Re: What Is Your Take On Forex Robots / Machines
« Reply #50 on: May 20, 2016, 08:21:33 AM »
They are just timely gadgets that can bring some profit in your trading account for sometime. But then they become totally useless.

Offline Forex Verified

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Re: What Is Your Take On Forex Robots / Machines
« Reply #51 on: May 20, 2016, 04:18:16 PM »
Quote from: indicator link=msg=354941 date=1463728893

They are just timely gadgets that can bring some profit in your trading account for sometime. But then they become totally useless.

It depends on the EA and the team behind it. Some of the best EAs have people working to adapt and improve their EA. But even if the EA stops working after a while - if you managed to earn something while it did work it's still success (who can tell if you could've earned the same money trading manually?).
If it's not verified, don't buy it - www.forexverified.com

Offline resistance

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Re: What Is Your Take On Forex Robots / Machines
« Reply #52 on: May 22, 2016, 03:09:50 PM »
Some trader might they already using robot to replace their hand making transaction in forex market, and use robot also required forward test in demo account before used on real account.

Offline Aaronpp

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Re: What Is Your Take On Forex Robots / Machines
« Reply #53 on: August 19, 2019, 09:05:39 PM »
Trading robots seem to me a great option to trade, you only need a very extensive previous configuration where if you do perfectly generate very high profits, the problem is that most of the current companies that offer these services do not seek to favor their customers and only take money from them in any way possible, you should look for a service that is absolutely recommended and that is at least acceptable, you can search Reviews of them to observe different opinions about the service to confirm that it can work.

Offline FxTS

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Re: What Is Your Take On Forex Robots / Machines
« Reply #54 on: August 20, 2019, 09:19:19 AM »
To my mind, trading automatization offers great opportunities. It is a new evolutionary step in trading, just as the invention of electronic trading at the end of the XXth century. Of course it will change world of trading substantially so the traders should be prepared (many traders left the markets in 90s just because they were unable to act in new trading conditions).
Trading automatization has numerous advantages, bringing important improvements, such as:
- it helps to eliminate the impact of trader`s psychology. Many traders lose and underpeform due to the psychological issues and the influence of the emotions like fear or greed. Of course, some traders are disciplined enough to be able to follow the rules of their trading system but most of them aren`t. Trading bots have no emotions, so their actions would be based exclusively on the trading strategy rules.
- it helps trader to find more trading opportunities. EAs could scan the market and show trader the situations where the setup he is interested in is present. Now traders would miss less interesting situations.
- it gives traders more time for other activities because fully automated trading system do not require any interference during their working process. If trader knows that the strategy itself is profitable, he could just turn in the system and dedicate his time to other things. At the same time, each EA should have special mechanism aimed on loss prevention that would make EA to suspend trading in case of any unexpected events - for example, if the volatility would became too high.
Education, Exploration, Experimentation

Offline Hilapur

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Re: What Is Your Take On Forex Robots / Machines
« Reply #55 on: September 28, 2019, 06:03:08 PM »
I have nothing against EAs in trading, but only if trader knows exactly what he is trading. I fell sorry when I see people without experience investing money on Eas and having no idea what actually they are doing. At the end, when they lose money, these people would usually say that Forex is a scam!

Offline drunkfx

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Re: What Is Your Take On Forex Robots / Machines
« Reply #56 on: October 01, 2019, 03:15:18 PM »
Forex robots are only a waste of time and money. You cannot get any consistent income by using any trading robot in your trading.

Why do you think so? I think you had or heard bad experience about algorithmic trading but it's not the case if the robot performance was verified with backtesting. Just don't buy into offers that guarantee big and fast profit and your experience with robots will improve.

Offline Loperte

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Re: What Is Your Take On Forex Robots / Machines
« Reply #57 on: October 08, 2019, 10:25:35 PM »
You can use backtecting but it does not mean that in the future you will have the same performance. I think that it is much better to use current trading with demo account in order to check robot, or open a cent account and trade with minimum investment until you are sure that it can be in profit

Offline Eliza Abrams

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Re: What Is Your Take On Forex Robots / Machines
« Reply #58 on: October 10, 2019, 04:32:44 PM »
I agree. I've backtested robots that gave good results but when tested in real time the results weren't as good.

Offline fxopen78

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Re: What Is Your Take On Forex Robots / Machines
« Reply #59 on: October 14, 2019, 12:05:38 AM »
Forex robots are only a waste of time and money. You cannot get any consistent income by using any trading robot in your trading.
I think both even trade with a robot or manual trading, make a consistent profit is impossible, the market itself always changing in seconds time, sometimes unpredictable, this is about probability in trading, if robot or manual has a higher possibility in winning trades, this good already

 

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