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General Forex Discussion
Do forex EA robots ever work?
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[QUOTE="wanorbit, post: 192710, member: 6727"] On starting trading forex some years ago, i was fascinated when i encountered EA robots and learned a good lesson not to ever use them going forward, i have seen an account of a copy trader i was following go from $50,000 to zero in one day, i was astonished! well for me i would never trade using EA robots again, i noticed that its just coding and it cannot predict daily market conditions, economic news etc it just targets the market openings on sunday and tries to fill the spread before it consolidates to a tighter spread, but its not every market openings on sunday that goes in that direction to consolidate spreads, sometimes markets resumes in that direction of that spread gap maybe 10pips + hence the robot sees that gap based on programming and opens a trade "already 10pips in red" to go in the opposite direction of the spread, thats another account balance closed out every sunday market opening. What are your experiences using EA robots, has it been profitable for your trades as detailed in its back testing? Let hear your thoughts on this thread..thanks [/QUOTE]
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