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Do Forex Robots Really work?

Discussion in 'Forex Beginner Q&A' started by defemz, Sep 11, 2009.

  1. defemz

    defemz New Member

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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.
     
    #1 defemz, Sep 11, 2009
    Last edited by a moderator: Sep 11, 2009
  2. JavitoFX

    JavitoFX New Member

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    I don’t think automated robots are the smartest thing, but some help is always welcome. I use web tools my own broker ACM provides, they are free and easy to work. I don’t believe in paying for extra help … plus, the fact that the tool come from my own broker makes it more reliable
     
  3. managedfx

    managedfx New Member

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    I do believe there are patterns in the forex markets, and robots can work well, but there always seems to be a point where the market tests the system and it fails. My advice is, learn forex trading, it really isnt that hard if you have the time and education.
     
  4. FxBanker

    FxBanker New Member

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    Forex robots (advisers) really helps to trader. But robot will make a profit only if it correctly programmed. Robots's author should take into account all the nuances of the market.
     
  5. irwin_drew

    irwin_drew New Member

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    it depends on the robot and the way it's been programmed. Robots can be helpful not to lose your wits about you and learn the basics of trading. You can try free robots at first like Rita Lasker's at robot4free.com or look up in search engines to give it a try :happy2:
     
  6. Mike Bor

    Mike Bor New Member

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    yepp, Rita Lasker's autotrader is very good if you're beginner, 'cause they have a support on a site and "learning how" videos and other materials.

    but anyway you need to configure your robot for yourself not to loose the money. if it was done properly - you get a stable daily income without wasting time for manual clicking)
     
  7. gajoinvest18

    gajoinvest18 New Member

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    I agree with Irwin that it's up to the robot and the way it's been programmed. That's the reason why we have different thinking. Some of us believe but others say NO. I read from a friend that he doesn't believe in such the robots. In his opinion and experience, most of them work only for very short term. Almost NONE of them can work long term. :rolleyes:
     
  8. vani

    vani New Member

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    Not really sure, however there are lots of good resources out there to help. One of the best I have some across is makemoneycurrencytrading dot co dot uk as they run free webinars and training. And they run a live portfolio so you can actually see if their strategies are making profit live.
    They also send out a daily report each day with the trades.
     
  9. daniellefr

    daniellefr New Member

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    There are many different views on the usefulness of robots. I personally prefer to trade manually, since so far there haven't been a robot that works for a long period of time. It does well for a while and then the market moves on and the robot doesn't produce the correct results.

    Even if you do choose to use the robot, make sure that you have learned everything there is about trading first. The worst thing you can do is to invest the money and hope that the robot will make you millions. Doesn't work like that at all!
     
  10. GoLearnForex

    GoLearnForex New Member

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    Well, if you see an advertisement for a Forex robot claiming 95% or 99% winning trades, then you should take care to investigate how they verify that claim. Bear in mind that the Internet is global, and the parties you are dealing with may not fall under the same legal jurisdiction as you, which makes any later claim of misrepresentation against them much more difficult.
     
  11. KajolThappar

    KajolThappar New Member

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    First, you should know that Forex is not that easy. Do not believe those who may say it is!

    Now, there are some good robots that MAY help you. Some are scam. Others are for real.

    Simply put, a Forex robot is a program that attempts to take the guess work out of trading currencies. Currently there is a lot of information floating around the internet about these products. Like any other tool, it needs to be used properly in order to be most effective.

    Like I hinted, in order to use this tool the right way you need to understand a little bit about how it works and where it is best applied.

    A Forex robot is a computer or computer program that monitors currencies and does calculations to figure out the best time to buy and sell. These programs help to take some of the guess work out of buying and selling and can help a trader to identify currencies that meet certain criteria, or when certain currencies perform in certain a way. Most of the selling points of Forex robots state that you can simply set them and watch the cash come pouring in. While in some cases this may work, in most cases you are going to need to carefully monitor the program and make sure that it is adjusting to trends in the market. While they can be very profitable they may require a certain amount of intervention to be run effectively. Used properly, and if you have the patience to get to know the programs, they become a powerful tool.

    It offers, among other features, high spread protection system and automated risk scaling. They say "95% winner". Well, only the bottom line counts. In this regard, it has really delivered for me.

    I had been watching the forex robot market for months, waiting for the right software to come out. I believe I have found a great one.

    Really, get the fundamentals first. Then get your own system and test it offline (do that for weeks, if not months, until your system is well tested), whether you use a robot or not. It really takes a few months - a lot of patience and resilience. But if you are made for it, it is worth it. Read about the psychology of trading (never to underestimate). And then you should be fine.

    Good trading!
     
  12. Jacq Stone

    Jacq Stone New Member

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    I believe that having a trusted and reliable Forex robots will work and can help you. These Forex robots really do an effective tough job.



    Please feel free to come and visit our FB page for more latest news and updates that will help you guys to improve your decision making.

    http. www. facebook. com/pages/Ikofx/213186568697555



    FOREX
     
  13. hugo30

    hugo30 New Member

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    If the only aim of the question is buying robot and not to think how does it work, it's a bad idea. better invest you money to the PAMM)
    robots work, especially if you know how to write them.
     
  14. mak123

    mak123 New Member

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    Actually forex robot work up to certain level but i generally believe in manual trading.


    Forex Trading.
     
  15. orni308

    orni308 New Member

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    robots work on a fixed algorithms, so as far as market is stable they are ok , but when market is a bit shaky they might end up fixing a wrong trade.......
     
  16. lee.belisar

    lee.belisar New Member

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    Right now I am not in the position to say whether a Forex robot really work or not. I am a newbie trader and I do not trade live yet. Still, I'm doing a demo account for more than two weeks now. But per the details that I got from my readings, it learned that Forex robot do really work to the certain level. However, using such is not suggested to fresh traders like me. Instead, it is recommended to do the trading manually first. Forex robots are good for those experienced traders only per what I read.
     
  17. Bugimen

    Bugimen New Member

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    I study this subject and concluded! The robot must be able to not only set up! It is important to know the speed of the server! To not have to change the broker and the robot!
    Here is an example.
    EU servers:
    LiteForex Average latency: 1 ms
    Forex4you Average latency: 11 ms
    Roboforex Average latency: 22 ms
    Draw your own conclusions!:tongue2:
     
  18. jologs

    jologs New Member

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    i guess there is a reason why there are robots although a lot of them are bad but there are others that actually work, was looking 5 minutes ago at some test results by an EA from fxactive.net the results were done on demo on hotforex but it was good. im not robot expert but lets hope we find one that really works good :)
     
  19. eif4x

    eif4x New Member

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    Forex robots do work. Must we as users need to know when to use them and when not. Some robots are good in trending conditions and some only good in ranging markets. But most robots sold on the net are garbage though IMO. Most of the good ones are for sold for a reason. It will stop working once too many are being used.


    [​IMG][​IMG] [​IMG][​IMG] [​IMG] [​IMG][​IMG] [​IMG]
     
  20. orni308

    orni308 New Member

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    But these robots are only a bit effective when the market situations are very flat, its very risky to use these robot in volatile situations.
     
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