Do Forex Robots Really work?
Do Forex Robots Really work? if they became so popular, and so many traders use them, it means that they really work.
Ive come across many software bots that supposedly trade the markets for you. Ive never heard of anyone succeed using such a robot but I am keen in finding out if they actually work and how? spo waitnig for more response. as per my experience
they are all more or less scams. If one worked, it would either not be sold at all and they'd be making a goldmine with it themselves, or word would spread and it would sell like hotcakes.
If you are interested in training skip over robots, save yourself the time and hassle and learn to trade yourself.
The truth is some FOREX robots work very well & can help you earn a lot of money in FX, while others simply just don't cut.
Determining whether FX robots & EAs work is a "case by case" thing.
My advice is based on my intial research into options trading. I have recently progressed from options to forex. Anyway, when I started researching options several years ago I looked into some of the software programs and traders who offered auto trading. I found that they did work and that they did make money. So I expect it will be the same for EAs and bots in Forex.
However, I also realised that I would probably not come out with the understanding of trading that I was after. So I attended a course to learn trading for myself. For me it was not just about making money. I wanted to know how to make the money so that I could feel confident that I could do it over and over again and eventually teach others.
The truth is some FOREX robots work very well & can help you earn a lot of money in FX, while others simply just don't cut.Determining whether FX robots & EAs work is a "case by case" thing.
but there has to be some sort of way to get which ones work and which doesn't, is there any reviews section for robots specially?
but there has to be some sort of way to get which ones work and which doesn't, is there any reviews section for robots specially?
Of course there are review sites, but why on earth would you trust them ? A review sites the very last place you should be looking.
Why not just do whatever needs to be done yourself ?
If the same people are posting on forums using multiple nicks to promote their scam , is it O K?
Of course its OK, its all part of the business.
Only a fool would be fooled by these tricks, and unfortunately, fools tend to get eaten as shark bait regardless of what you do to try and help them, and thank god they do because we need them to fund our profits.
The review sites, and many of the audit sites out there are simply crooks, they provide a platform for scammers to operate from, and the same can be said of foum owners, administrators and moderators.
These people are doing whatver they can to earn a living, theyre not smart enough to trade, but theyre smarter than most traders and they do whatever they can to get their slice of the pie. Its pitiful, but I'm afraid that all's fair. Thats the way the business works, you have to understand what your dealing with and act accordingly.
I haven't spent much time on Elite trader , but otherwise all the forums have scammers using multiple nicks including t2wzoo.Wasp the stinger scammed many noobs as admin, now obviously under a different handle.shame.
Mr Sharky's T2W zoo is definately a cess pit, and I highly reccommended the place to anyone who fancies taking their mug punters for a ride. One day when I find time I'll probably run a scam over there myself.
I'm struggling to identify a single moderator or advisor at the zoo who isnt involved in some form of shady shinanagins.
I was hanging out with a few T2W regulars in Wasp's chatzy room when the subject of a pooled account was first raised. The people involved where not innoccent noobs, they where seasoned punters who should have known better. What self respecting trader would abdicate the responsibility of trading their funds to a total stranger ?
Mr Wasp gave us quality entertainment, and his mug punters provided a fine lesson in the very worst aspects of human behaviour. T2W's handling of the situation really was first rate LULZ.
Do Forex Robots Really work?
Of course they work.
Ive come across many software bots that supposedly trade the markets for you. Ive never heard of anyone succeed using such a robot but I am keen in finding out if they actually work and how? spo waitnig for more response. as per my experience they are all more or less scams. If one worked, it would either not be sold at all and they'd be making a goldmine with it themselves, or word would spread and it would sell like hotcakes. If you are interested in training skip over robots, save yourself the time and hassle and learn to trade yourself.
Hi Christenajenifer,
That is the BIG problem that the overal and vast majority of the people can't learn how to trade.
I mean they can learn the rules and the indicators and the setups and how systems works. But when they trade manually and have 10 consecutive losing trades in a row they start to loos their trust and confidence and can not trigger the 11th trade so they decide to skip it a bit and wait to see if the system would recover. And that 11th trade is a real big winning trade. They still don't trust and wait a bit more and see indeed that the system completaly recovers. The decide to trade again and they get caught up again in a drawdown but important is that they did not have the recovery in between.
And before they know it they jump from drawdown to drawdown and from system to system.
That is why a robot or EA is a great tool or help because it is does not know any fear nor any gread and will always execute the trades according a mechanical set of rules.
Up till now I am very pleased with my robot. Because I do not feel as a slave from my pc and screen anymore.
They say that trading is the most beautiful job out there because it gives you an enormous freedom. After 15 years trading I know that if you are a manual trader then that job feels like an iron ball chained around your leg.
With my EA I feel that trading is indeed total freedom.
Friendly regards...iGoR
PS. Results of my EA MT Intelligence - Statement for fxigor1
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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