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 Excess profits are withdrawn or moved to minimise risk if it blows the account.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.

 

[skrimon]

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

Your experience is common! While forex robots offer advantages like discipline, their code limitations can hinder performance. The market is dynamic, so even well-written bots might need adjustments. Do you think there's a way to combine the benefits of automation with the adaptability of manual trading, perhaps with custom rule-based systems?

 

[Fxzombie]

Your experience is common! While forex robots offer advantages like discipline, their code limitations can hinder performance. The market is dynamic, so even well-written bots might need adjustments. Do you think there's a way to combine the benefits of automation with the adaptability of manual trading, perhaps with custom rule-based systems?

I saw several traders do this, they used trading robots via VPS, but still monitored their accounts via mobile trading when they thought the bot's trading work was considered dangerous, they manually cut losses.

 

[Fin_Trader]

Yes, the big advantage of a Forex robot is the absence of emotions. They trade only according to their algorithm and do not deviate from it. But in order to make money with such a robot, you need to understand it well, be able to configure and program it, and so that its algorithm is not unprofitable. Such a robot is difficult to find.

 

[Kyle5000]

Some of them work! Some do not work! You have to test them.

 

[Fxzombie]

Some of them work! Some do not work! You have to test them.

Trading robot fans will definitely test various trading robot models to find the best performance. The advantage of trading robots is that they are definitely more disciplined in implementing the trading system because they work without emotion. Just trading with a robot is typically more expensive than manual trading.

 

[Fin_Trader]

It is also necessary to understand that most robots trade according to the readings of certain indicators, on the basis of which such bots are created. But many indicators often repaint and lag, so the quality of trading with such robots can be questionable. Therefore, it is really necessary to personally check such an adviser and understand its algorithm in order to clearly understand on the basis of what it was created and whether this algorithm can bring profit.

 

[Jason Libson]

Forex robots can work by automating strategies and removing emotional decision-making, but their success depends on the algorithm and market conditions. Many robots fail in the long term due to changing market dynamics, poor risk management, or faulty strategies. It's essential to test them thoroughly and monitor performance regularly.

 

[Fxzombie]

The advantage of trading with a trading robot is that it doesn't involve emotions as humans do, it works based on complex algorithms, however, no human-made trading robot is perfect.

 

[Fin_Trader]

Many robots fail in the long term due to changing market dynamics, poor risk management, or faulty strategies. It's essential to test them thoroughly and monitor performance regularly.

Also, robots cannot take into account sharp and highly volatile price movements when important fundamental news is published, when the price can behave unpredictably and sharply contrary to the readings of any indicators and algorithms, leading to large losses during this trading time.

 

[Jonathan Lee]

Forex robots can work by automating trading based on preset strategies, but their long-term success depends on market conditions and risk management. While some robots show consistent results, many fail over time due to changing market dynamics, poor strategy, or over-optimization. It’s essential to monitor performance regularly.

 

[Fxzombie]

As is appropriate when using a trading bot, always monitor market changes and the performance of the trading bot itself. Sometimes, preventive measures need to be taken if the trading bot is considered to be endangering the account or taking too much risk.