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Chapter 39, Part II. Forex Scam - Trading Bots, Signals, and Brokers. Page 5

Discussion in 'Complete Trading Education- Forex Military School' started by Sive Morten, Dec 28, 2013.

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  1. Sive Morten

    Sive Morten Special Consultant to the FPA

    Aug 28, 2009
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    But hold on, son. I have some recommendations that could be useful to you.

    1. If you are newbie trader and do not have any solid experience understand nothing in programming and little in trading – stand away from robots and other stuff of this kind. Your primary target is to learn to trade with profit consistently;

    2. If you trade consistently with profit and decide to dig a bit robot’s topic – find a good and independent programmer, if it will be your friend – all the better. Get some basic knowledge of programming, and language, understand how algorithms work. For example, to program in MT 4 you need knowledge of build-in MQL language. Examine the code of free indicators and algorithms that were written by others and so on. Read some books about development, testing and optimization of mechanical trading systems.

    3. Spend some time on the work that we are doing for you with our performance tests. In fact they could be great, I mean robots, but they do break – nothing works forever, especially such fragile substances as trading program. Think about this - Why doesn't Porsche produce trading robots? I probably will buy one, at least while its warranty valid.

    4. And finally – don’t put all your eggs in one basket. Set aside for robots just a small part of your assets and save the rest for your personal trading. Indeed, if those robots are really so good, then even small part assets should be sufficient to become the boss of G. Soros right?
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