I need advise

Discussion in 'General Forex Discussion' started by Bill Signer, Nov 22, 2012.

  1. Bill Signer

    Bill Signer Trader

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    Good day,

    I just started my FOREX activity and looking for good and FREE robot. I'd like to try it out on my demo account.
    It's really hard to find good one. Does anyone can advise me something?

    Thanks
     
  2. PaladinFX

    PaladinFX Active Trader

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    My advice is to learn how to trade manually, not to rely on some obscure piece of software about which you only know what the developer wants you to know.

    It is your hard-earned money you'll invest ... take responsibility for it yourself.

    The only people who earn money with EAs are the developers who sell them, not the 'traders' who use them ... with very few exceptions: I know of only one EA which actually makes money over an extended period of time; it is not free though.


    Cheers,
    P.
     
    Last edited: Nov 25, 2012
  3. Rob Taylor

    Rob Taylor Active Trader

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    I agree with PaladinFX. The only way to make consistent profits week in week out is to learn the job.
     
  4. krecex

    krecex Trader

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    I also agree with Paladin. You need to learn the basic and keep practicing. If you only depending on the robot, you will lose and waste your money. Because robot can't really help in trading. Beside robot are not 100% accurate in reading the chart.
     
  5. inggo

    inggo Master Trader

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    EAs is something you try to learn and apply after you have mastered a bit of the manual trading, and yeah i guess a good EA is rare and is not for free.
     
  6. WalkieTalkie

    WalkieTalkie Master Trader

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    is robot the same as expert advisor? If not, what is the difference?
     
  7. PaladinFX

    PaladinFX Active Trader

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    Same thing, just a different term.
     
  8. acarrollfan

    acarrollfan Trader

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    Good luck at finding good EA man. My friend has been looking for good EAs and nothing has seemed to work for him. Almost every month he comes to me and tell me, "Hey, I've got a great EA.." but nothing produced him consistent profit.
     
  9. Fxpipper

    Fxpipper Master Trader

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    If you are going to depend on EA's to make money for you - chances are you are going to wipe out your account within a week. As others have suggested, review all the info on Fx market, start with a demo and gain some experience trading on the market..
     
  10. Adam FX

    Adam FX Trader

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    What broker do u use?
     
  11. capsmart

    capsmart Active Trader

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    I would also advise to learn how to trade manually mainly using price action. You could use a robot (EA) to manage your trade once opened.
     
  12. krecex

    krecex Trader

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    Agree, robot are not helping much in trading beside, it makes a mistake a lot.
     
  13. Mike Bor

    Mike Bor Banned

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    Actually it depends on the Robot.
    There are many helpful ones - but first of course try to trade on a demo account.
     
  14. ezrydn

    ezrydn Active Trader

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    Mike,

    The beauty of trading Forex is the "any place, any time" concept. Will you carry your AE everywhere with you? Maybe not. What you WILL have with you, no matter where you go and when, is your Hands (and MIND). It's about priorities. Learn Manual First! Toys are for later.
     
  15. GTOptions

    GTOptions Banned

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    Since, you are dealing with forex trading. Hence, needs a strategy and goal, robot is unable to understand your strategy and goals and he cannot take decisions according to the changes in market trends. Therefore, better option is to trade yourself. Start with free demo account and most of the trading companies provide this facility. After doing practice go for a live trading account and choose your trading platform that suits to your goals and strategy.
     
  16. ezekiel chew

    ezekiel chew Trader

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    It would be wise for forex beginners to learn the trade and basics of forex before putting your hard earn money to trade. Learn to trade manually to get experience before jumping in. Discipline trading is a must in order to achieve success.When you have enough experience then move on to robots.
     
  17. Petar_Serbia

    Petar_Serbia Trader

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    Hello there,
    There is no short way to earn on forex and make consistent profit which is main goal on Forex.You need to learn from quality resources and to practice a lot.Just hard work and hard work can bring you success.

    Best Regards,
    Petar
     
  18. ziegler

    ziegler Trader

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    Totally agree. Start trading manually first. It is a hard work to earn stable profits. And choose broker with a helpful support team to consult. I also started this way;)
     
  19. aamirjamil

    aamirjamil Trader

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    I also agree with Paladin. You need to learn the basic and keep practicing. If you only depending on the robot, you will lose and waste your money. Because robot can't really help in trading. Beside robot are not 100% accurate in reading the chart.
     
  20. Even if you do want to get an EA in the future, learn to trade manually first. learn the industry inside and out. If you are going to invest in an EA, you need to know what you are investing in, what you want it or need it to do. Otherwise you are throwing your money away. if you want to do that i'll take if off your hands for nothing :)
     

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