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]

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]

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]

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]

Forex robots - for short term

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.

 

[osahan]

it's checked already if you want to make a profit you should do manual trading. but some robots are really not bad. for ex famous Rita lasker's products. But still you should remember that robots cant bring millions. they can be only a kind of help. not instead but plus manual trading.

 

[Forexguy]

Actually some robots do make money. Not many to be sure, but one good example is Forex Megadroid. A guy in SA does independent analysis both on paper and in live trades, and his FM robot has made money consistently. That's the ONLY robot I endorse and sell on my sites because it's proven to make money in actual trading. You can google FX Trading Reviews and find his site. I'd put a link here but I haven't read the forum rules yet and don't want to get banned.

 

[KajolThappar]

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

 

[forextips]

I don't believe in them because I don't think there is anything you can do online whether it be trading forex or marketing that can be fully automated. There has to be some form of human intervention and sound decision making somewhere

 

[forextips]

Aforex robot or software can't possibly make as effective a decision as a human would make. So have a system but ultimately make decisions yourself.

 

[cheeseweasel]

I believe in forex robots. They definitely exist!

Whether you can buy one that makes you consistent money however is a whole different matter.

Time is far better spent actually learning to trade rather than blowing account after account hunting for the golden ticket.

 

[forexscape]

i do not, the robot's logic always different with mine

 

[investylesley]

I used to have a client who designs that kind of robot software for a big bank. I'm sure that stuff works, not sure which ones are better than others, and they probably don't work all the time. I like the idea of having robots do stuff for me (maybe because I'm exhausted!), but it's probably like having one of those little roomba robots to vaccum your house... the ones that are commercially available to the public might be mildly helpful to pick up crumbs, but if your 2 year old dumps a container of yogurt on your rug and has a major poop explosion, that little roomba isn't going to help you much to clean your place and keep up forward motion. I would bet those robots would be helpful to watch the market for you while you catch a nap or something... I'm sure the software that banks use is never left unattended, I'm sure they have teams of experts with clipboards and pocket protectors monitoring them at all times. Computers are only as smart as the operator.

 

[robsam]

If you ask me, I would say YES. I do believe in robots because they have ability to analyze the time frame. I agree on other member opinions that earning money not only depends upon one factor. If you want to earn money through forex, you'll have to be cautious about market scenario and other factors also and this is done manually not by any software or robot.

 

[marrabel]

earning money on Forex needs sticking to the right strategy and that is why many people believe in the robots for their help