Forex Peace Army Members Forums>

[johncobb]

I have tried many automatic robots and none of them did make any profit, only losses.
How can robot know which way the market is going to move???
Traders, please do not be naive and save your money.
All robot developers claim that their robot is the best in the world and that it made a lot of money for them. Oh yes the robot developers made a lot of money by selling the useless robots. They are just a rip-of.
Example is Forexrobottrader from Steinitz - do not buy it, you will achieve only total losses, it is just a rip-of.
Brokers are the same rip-of.
Do not deal with IGindex or IGmarkets. They trade against you and set their own rules. If you create your own strategy and you start making money they will do everything possible and make sure that you loose. They told us strait in our face that they do not want us to win.
They are just a bunch of bloodsuckers.
Wake up.
Save your money.
You have more chances of winning Lotto than by trading.
Take my advice.
You have been warned.
Ex trader

[ernest8fingers]

Originally Posted by johncobb

I have tried many automatic robots and none of them did make any profit, only losses.
How can robot know which way the market is going to move???
Traders, please do not be naive and save your money.
All robot developers claim that their robot is the best in the world and that it made a lot of money for them. Oh yes the robot developers made a lot of money by selling the useless robots. They are just a rip-of.
Example is Forexrobottrader from Steinitz - do not buy it, you will achieve only total losses, it is just a rip-of.
Brokers are the same rip-of.
Do not deal with IGindex or IGmarkets. They trade against you and set their own rules. If you create your own strategy and you start making money they will do everything possible and make sure that you loose. They told us strait in our face that they do not want us to win.
They are just a bunch of bloodsuckers.
Wake up.
Save your money.
You have more chances of winning Lotto than by trading.
Take my advice.
You have been warned.
Ex trader

Dont believe it. Johncobb we have all been where u are now. Forex can leave a bad taste in mouth(usually after your account is vaporized). If u give up now - u will be counted among the 95% losers. I believe and agree with everything in your post except the bailing out part. I trade using my self programmed EA-(with a non-NFA registered Broker from Cypress) - and as we speak, I am up 67 pips in this NA session alone(10:00 am PST -all 3 trades "locked-in-Profit" and guaranteed winners). The worst I can do is be stopped out of those 3 trades for something like 20 pip gain if I "let em ride".Money can be made but not by getting mad-but by getting even. I lost money pretty much my 1st 2-3 years in Forex. Just didnt(wouldnt) give up. Good luck bro.

[shaibu stephen]

There are good EA, the problem there is that you find it difficult to know which is good or bad.

[ernest8fingers]

My trading became modestly and (way more importantly) consistently successful only AFTER I started using my EA. I found out (through consistently losing) that I am way to emotional to have long term success at Forex. Without any formal programming training, I was able to learn programming(MLQ4 and C++) and then code my own manual trading rules(w/o the great Internet this task would have taken YEARS instead of months) into an EA that usually profits. I believe that NOT losing money is more important than that occasional large win. Now I trade only on days that have some News Release Event for one of the "Majors" but never,ever just before that event. I trade the "post" News momentum after all the large swings have subsided(hopefully). I ONLY trade the European And N.American sessions and turn off the EA all other times. This has worked for me so far. This EA is my medication to counteract the effects of DrawDownAnxiety. Yesterday I posted about being up 67 pips total on 3 open trades. They all went against me but none was a loser and I ended my trading day up only 12 pips total. That still beats 12 pips under. (I still tend to "love" my trades a little too long).

[FirePips]

Tell me if you have a EA that make you 1000% in one year and makes you loads of money, would you even bother to open up a website to sell it for $99 and then sit to reply to customer emails. I guess NOT.

[ernest8fingers]

Originally Posted by FirePips

Tell me if you have a EA that make you 1000% in one year and makes you loads of money, would you even bother to open up a website to sell it for $99 and then sit to reply to customer emails. I guess NOT.

R u posting about me? Your grammar is so poor I cant tell-lol! I doubt u will even be here in a year! Good luck on your English though.

[ernest8fingers]

Originally Posted by FirePips

Tell me if you have a EA that make you 1000% in one year and makes you loads of money, would you even bother to open up a website to sell it for $99 and then sit to reply to customer emails. I guess NOT.

I just visited this guys website(I like it) but he is just another "flavour of the month" Forex genius. No name just that hes 27 and been trading 5 years. Thats it-nothing else(like education/trading statement/success?) The website is nice though-especially for beginners-it offers some valuable freebies(available everywhere else though). I dont think he has ANY edge in this Market beyond what anyone could achieve with a little Education/Demo Trading/Intestinal Fortitude. Personally , I wish him the best in Forex(and life) as I am well beyond the age of giving a sh__t either way-lol.

[Gaffled]

I have had decent success with MegaDroid (made about $300 this week on a $10K live account). I have been testing Fores Bling (just Thunderbolt and Thunderstorm) and it looks like it may work out well. They are constantly pushing out new versions (free of course) so at least they are making an effort to tweak their EA. That is a good sign in my book.

[Isamu]

is it possible to make money in the long term *only* using EAs and not trading manually?

[Gaffled]

Originally Posted by Isamu

is it possible to make money in the long term *only* using EAs and not trading manually?

I am sure that it is, but you will need to keep a close eye on how they perform. I know that FAP Turbo did really well at first, but not so great after the first few months.

As I mentioned above, I am using MegaDroid with great success, makes at least $1K a month on a $10K account for me. That is not enough for me to live on, and I really don't want to have my whole forex pie in the hands of an EA.

There are great reviews at this site, just look around and see what might work for you.