Do forex EA robots ever work?

AlexOZ

Trader
Apr 22, 2023
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7
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No - with ideal (read tuned for) conditions they can make money but other times they destroy accounts. I've backtested many and they fall over during adverse conditions (e.g. choppiness). I've also looked at the code where I can it they often just a simple combination of standard indicators - nothing special.

However the automation does offer a benefit. I wrote an EA to help develop and test different trading strategies. I can combine easily different indicators to implement trading rules. It has developed to now be my trading assistant and it places trades for me under supervision. :)