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USD/EUR trading with bots

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mindrust8
15
mindrust8  

Hello,

 

Me, new to forex. Is it possible to earn good amounts by buying/selling eur/usd with bots? If yes how much capital one needs to have to invest in this? Since you can't really lose money over those trades, how efficient would it be?

 

Thanks. 

whroeder1
14780
whroeder1  
  1. Possible yes, consistent no. Any bot will do good if the market is behaving in the bot's favor and bad if it's not. E.g. a trend following strategy looses in a ranging market.
  2. A good strategy could make 10% per month (on average.) How much capital you need depends on how much per month (on average) do you need.
  3. You definitely will really lose money (it's called drawdown.) There is no certainty.
  4. If you don't code it your self you have no idea whether it handles signal recognition, money management, server errors (disconnects,) etc., correctly.
  5. Trading is a long term growth thing, not a set it and forget it get rich quick thing.
mindrust8
15
mindrust8  
WHRoeder:
  1. Possible yes, consistent no. Any bot will do good if the market is behaving in the bot's favor and bad if it's not. E.g. a trend following strategy looses in a ranging market.
  2. A good strategy could make 10% per month (on average.) How much capital you need depends on how much per month (on average) do you need.
  3. You definitely will really lose money (it's called drawdown.) There is no certainty.
  4. If you don't code it your self you have no idea whether it handles signal recognition, money management, server errors (disconnects,) etc., correctly.
  5. Trading is a long term growth thing, not a set it and forget it get rich quick thing.

%10 is more than i wanted.

 

Since banks give %2.30 interest rate for USD, and 1.80% for EUR (yearly) in where i live; %10/month is fine.

 I still don't get how do i lose money tho. If i lose dollars, then i gain euro's; or the opposite. Yes can lose money in $$$ wise, but hey then it means i am gaining in €€€wise?

I guess i am missing something important. Probably the "drawdown" thing. Thanks anyway :) 

 

I was thinking to get in with 10k€ and 10k$. and thinking to buy constantly whichever cheaper. (or selling whichever goes up)

 

My dream Bot needs to do something like this: lets assume €/$ is 1.09 and i got 10k from both.

 

If the number goes up by 0.01, sell 1000€; if goes down by 0.01, sell 1000$. 

 

And what happens if it goes down or up by  0.1? nothing. Put more money and watch :D

Keith Watford
Moderator
9641
Keith Watford  

You obviously don't understand how trading works.

Open a demo account and practice trading. Do not think about trading with real money until you fully understand the risk. 

mindrust8
15
mindrust8  
Yeah i guess you are right.
whroeder1
14780
whroeder1  
GumRai: You obviously don't understand how trading works.
Definitely
  1. First learn Forex. School of Pipsology | Learn Forex Trading
  2. Then learn to code
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