Do Forex Robots Really work? - page 2
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Dear Traders
Please check out my following post on E.A
https://www.mql5.com/en/forum/194946/page5
I hope it helps
Kind regards,
-Muhammad Azeem
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i think no forex robot can replace your abilities and intelligence. If you're smart enough, you'll need no robots or anything of that sort. However, experience comes with practice and they can be a useful tool for beginners to get the hang of the market and understands its operation. Some robots (for example Rita Lasker's free robot, etc) can be a great help for novices.
i think no forex robot can replace your abilities and intelligence. If you're smart enough, you'll need no robots or anything of that sort. ........
It is nice to see that you are honest. Because you say you THINK....
How many years have you already spend in front of your screen trading ?...how many accounts have you burned ?....how many mistakes have you made ?...how many times have you asked yourself what stupid position that you took again ?....how many statements of real accounts have you seen of people that were profitable for 3 consecutive years ?....How many real friends have you seen that drive a porsche with the money that they earned through trading ?... how many months did you close without any profit. So that you realize if you would be just an average Joe the plumber you would have had money in your hand ?....How many years are you now generating an income just from trading ?....how many people did you see over the years come on this and other forums and disapear again in silence ?....
One thing I can say that I saw over the years: Many people saying that trading is easy and that you only need to be "smart". But that is very subjective because in all the years I teached people how to trade I never heared somebody saying: I am an absolute dumb as but I would like to make money through trading. Everybody thinks of himself that he is smart.
....“In view of the fact that God limited the intelligence of man, it seems unfair that He did not also limit his stupidity.”....
Friendly regards...iGoR
Forex robots definitely work and they can make you a lot of money, but make sure that you choose your product carefully and understand the risk involve.
Expert advisors are optimised for past market conditions and may have trouble adapting to future conditions.For instance let us say that I have an advisor that makes consistent money today as the market has been ranging for the last 3 weeks so I have adjusted parameters on my indicators to fit these conditions.
There are certain events that are not factored into the well optimised logic of the advisor.One of these are nonfarm payroll another is interest rates release.In our forex world these can start a major change in monetary policy and produce a huge 150 pip bar or more.
The problem is most advisor or martingale advisors count on price returning to a certain point.Have you ever looked to the history of a advisor and noticed the advisor opened many positions and closed them out for profit.This is because the internal logic of the advisor is opening positions from a starting point and every 10,20,30 or more pips will open another position or a larger compounding position say 1,3,6,12,24,ect to offset the other losing positions.
When the major news is released large volumes of money are exchanged and the ranging market that the advisor is designed for is now a strong strong trending market and the advisor will never see the level it was designed to pullback to making one or many positions open and "floating" losses to which it will never return to that level as price has moved on.This will cause one of two things either you will manually close positions at a huge loss or equity will be eaten until a margin call is given.
There are some advisors that do not use such logics like breakouts and trending advisors although slower growth are more stable but 98% of advisors are programmed in the manner previously explained which is the reason you see many losing advisor via backtest and only a hand ful of winners on a consistent basis.
There are some advisors that do not use such logics like breakouts and trending advisors although slower growth are more stable but 98% of advisors are programmed in the manner previously explained which is the reason you see many losing advisor via backtest and only a hand ful of winners on a consistent basis.
And how exactly would you know how 98% of EA's are programmed ?
Have you actually obtained and reviewed the source code of every EA in existance ?
If not, how did you arrive at your statistic ?
"Have you actually obtained and reviewed the source code of every EA in existance ? ( "existence" is misspelled)
If not, how did you arrive at your statistic ?"
Actually, statistics don't require one to study every single case - a sufficiently large sample size will do. When pollsters quotes percentages, they haven't surveyed every voter in America, just a sample set.
Anyway, I have tried every free EA posted at mql4.com - they don't work. Most are garbage that don't even load properly onto the Metatrader strategy tester. As a result, no signals are generated and the graph remains a nice clean blank. Of the few that were properly written, they lost money. Every single one of them! I know, I tested them.
Perhaps there is some (non-free) EA that actually works. I don't know , having never purchased one. The freebies however definitely do not work. I don't know how the reports at mql4.com displaying profitability were generated, but those glowing reports bore little resemblance to what I encountered.
At any rate, rather than purchasing some overly-optimized, curve-fitted black box system that will destroy one's account, it's better to learn how to trade properly. If the EAs pimped by pitchmen actually worked, the people involved would become traders, not salesmen. Perhaps they are losing traders who have found selling over-priced systems more profitable than trading. Here's something to consider - ever notice how so many brokers now offer free VPS to their clients. Why? Well, it's because they want us to use EAs! They generate more commissions that way and when our accounts have been thoroughly drained by the black box "holy grails" they know we'll replenish the depleted monies in order for the "fun" to continue!
Do forex robots work? Sure they do - Santa Claus and the Tooth Fairy told me
Do forex robots work? Sure they do - Santa Claus and the Tooth Fairy told me
Perhaps if you actually did some work instead of testing garbage written by idiots posting on forums you might have more success.
100% per annum from a robot is very easily achievable.
"Perhaps if you actually did some work instead of testing garbage written by idiots posting on forums you might have more success.
"
Zup,
First , I work every day of my life, so don't come here saying I don't . Secondly, thank you for responding to my post . From what I've seen on other forums, you normally spend your time trolling Avery. Thirdly, I tested the EAs at mql4.com because they were available - that was my sample set.
It's called research, Zupcon. Like others, I too was interested in EAs. My conclusion, after testing, was they don't work.
Now, if you want to respond with something useful then , please, be my guest. Enlighten me - which EAs give those 100% annual returns? Name some names, Zupcon. My guess is you won't.
EAS work but profitable EAS are not available on forums or on the internet, the internet scammers selling them for $99 to $500 are sold by SCAMMERS,the real EAS cost well over $1m
Quite correct. Profitable EA's are not found on forums. Its possible that a very small minority of people posting on a forum might be invited to join a private group, but its exceedingly rare. I have only one member of my group introduced to me through that route. The rest wouldnt dream of wasting their time posting on an annonymous forum.
Everything anyone would ever need to develop an EA is available for free, and at one stage I used to worry about disclosure of my edge, but thankfully even if you tell people exactly what they need to do, they still wont do it !