So you think forex Robot works ?

[Jameson wc]

What do you think forex robot works ? What can you say of forex robots ? Do they really works on the long term as most robots tends to blow off accounts ?

 

[Fin_Trader]

Alien and free robots will not help you make a profit. They mostly work unstable and as a result the deposit is lost. The best Forex robot will be the one that is created according to the algorithm of your trading strategy, which shows positive trading results and is profitable (if, of course, such an algorithm can be automated).

 

[CinFX]

I have yet to find an EA that works flawlessly.

Some make excellent returns only to blow your account at a later stage, some need intervention to manually close orders prematurely to maximise profits. Some work well in certain market trends and must be switched on/off as required.

As for the EA's I'm using I do manage them:

• EA's that make great returns but tend to blow my account eventually only get a limited source of funds to trade with. Excess profits are withdrawn or moved to minimise risk if it blows the account.
• EA's that count on large market movements get switched off during slow or sideways markets to avoid trading, these often open a buy or a sell but struggle to make profits, thus the risk/reward ratio is unfavourable.
• EA's trading Forex gets monitored and additional Indicators are used to close entries at the highest profitable points.
• EA's that works better in Bull or Bear markets only get switched on certain days of the week.

I have yet to find an EA that can function unsupervised (apart from a few that make constant profits in the 1 - 3% per month range). Most of the EA's I obtained online do not work at all, only a select few show potential.

 

[Fxzombie]

Some work, some fail, using a trading robot has advantages and disadvantages, it is more disciplined than manual trading because it works based on command logic. Errors in writing code cause the robot to not work. I have tried several robots but all of them had unsatisfactory performance and now like back to manual

 

[pfishman]

I think everyone needs to pass long journey through backtesting to prove robot profit potential before use it on real account.