Do you believe in Forex Robots?

[graceheather]

Hi All Earnforex Forum Members,

A very interesting question to ask you all.

Do you all believe in Forex Robot? Yes or No

I personally do NOT believe in it.

In my opinion & experience, most of them work only for very short term.

Almost NONE of them can work long term.

[graceheather]

No one is giving their opinion.

Let's shoot out your ideas/thoughts freely here..

Will very much appreciate that. Hopefully our thoughts here also benefit Beginners here.

[darfx]

me too, i even don't trust humans i mean account managers

[Magician]

Originally Posted by graceheather

Hi All Earnforex Forum Members,

A very interesting question to ask you all.

Do you all believe in Forex Robot? Yes or No

I personally do NOT believe in it.

In my opinion & experience, most of them work only for very short term.

Almost NONE of them can work long term.

I wonder, if you could identify, the actual conditions that a specific robot likes or has been found to have a higher success rate, then I think yes it could make you money.
However, we're back to trading indicators looking for those elusive markets that these robots would excel.
In general, I don't think they work.

Lets think about how we go about trading, and how we look for specific conditions that arouses our interest, and perhaps ends in a trade.
Some like choppy markets, some trending, some like 1 hour, or 15mins, some like to only trade long while others like to go short, some don't care either way.
My point is we all look for the conditions we have established that works for us, imagine then if you could program a forex robot for what you are looking for, and only trade in the conditions that the trader/you like.

We all have systems, the really good ones are kept, never sold, well I ask you would you..

[ForexAbode]

I have given this same answer somewhere as this question is very common.

How can we trust a machine (basically software program) to earn money for us? The markets are dynamic and many times depend on sentiments.

Believe me that in order to be successful you can't just depend on on a single factor but you will need all of the following:

1) Understanding of fundamentals and an open eye for the economic releases.
2) Technical analysis
3) Understanding of current market sentiments
4) Current political situation in the concerned region/country
5) Most importantly trading discipline

While said that the trading discipline is most important and what a software program would offer you is "just that". Taking a position where it is programmed to and exiting or stopping the loss at the levels where it is programmed to. What about all the other factors which move the market.

No, ask me again and my answer will remain the same. You can't be remain a successful trader with a software program.

[graceheather]

Originally Posted by ForexAbode

I have given this same answer somewhere as this question is very common.

How can we trust a machine (basically software program) to earn money for us? The markets are dynamic and many times depend on sentiments.

Believe me that in order to be successful you can't just depend on on a single factor but you will need all of the following:

1) Understanding of fundamentals and an open eye for the economic releases.
2) Technical analysis
3) Understanding of current market sentiments
4) Current political situation in the concerned region/country
5) Most importantly trading discipline

While said that the trading discipline is most important and what a software program would offer you is "just that". Taking a position where it is programmed to and exiting or stopping the loss at the levels where it is programmed to. What about all the other factors which move the market.

No, ask me again and my answer will remain the same. You can't be remain a successful trader with a software program.

Agreed. Believe in yourself is the best... of course, first we must equip ourselves with good knowledge & trading strategies.

Without strategy, forex is just like gambling...

And good luck for all gamblers out there

[JMtrader76]

Originally Posted by graceheather

Hi All Earnforex Forum Members,

A very interesting question to ask you all.

Do you all believe in Forex Robot? Yes or No

I personally do NOT believe in it.

In my opinion & experience, most of them work only for very short term.

Almost NONE of them can work long term.

I tried some, thank God I did not try them on live accounts, I blew up most of the robots, they work well in trending markets, but so do 90% of all strategies.
Then i searched various forums and now I am using THV Trix experxt advisor on my broker's MT4 *(Easy-Forex)
and I am very happy.
You should google and find the expert advisor, it helps a lot, as if you stick to the rules, it will only give you the safer entries.
or you can use just the trix that also gives profitable buys and sells

John ;-)

[realc4ever]

I think if you have a profitable trading method and you are then able to tell the computer how you trade in a program, then you will have a successful forex robot.

[hotgun]

Even if they work, usually it's for a short term, and after a while you will end up without any balance in your account. Why? Personally, I think the good systems are NEVER sold - they are money making mashines, why would you sell your money mashine to anyone for any money, knowing that more and more will be applying the same rules...? Another thing - the markets are always changing and volumes increasing and to program a robot for those changes takes a little more time than for a human just not to trade and wait for some better opportunity.

[DaveyBoy]

I'll go with the logic a lot of members have already posted on this thread. If you had a sure-fire winner robot, would you sell it? I know I wouldn't and if I did decide I was going to commercialize it outside of my own trading, it wouldn't be for $97 a copy.

If I had a truly effective, consistent robot, I'd be talking to one of the major players and there would be a lot of zeros on the check.

Think about it: goose - golden eggs... Let's crack the eggs and sell omelets. Doesn't make sense.