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Forex Robots(ForexautoPilot)

Discussion in 'Forex Trading Systems and Strategies' started by ernest8fingers, Mar 16, 2008.

  1. ernest8fingers

    ernest8fingers Master Sergeant

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    Any one try this thing out? I am curious as to how it performs.:eek:oh::eek:oh:
     
  2. Fantomas

    Fantomas Private, 1st Class

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    Forex-autopilot EA's

    If you go to "reviews - software" you will find postings about a few automated trading EA's.
     
  3. Pharaoh

    Pharaoh Colonel

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    I'd be happier if the reviewers were a bit more unanimous in their opinions. So many of them seems to be a mix of only 5 star and 1 star reviews. This leaves two possibilities - 1. The 5 stars are right and the 1 stars don't know what they are doing. 2. The 1 stars are right and the 5 stars are an assortment of shills for the company.

    Sadly, my brilliant suggestion of requiring a both a DNA sample and an IQ test before being allowed someone to leave reviews was rejected without ever being given serious consideration.
    :hissyfit:
     
  4. Fantomas

    Fantomas Private, 1st Class

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    Fx "Autopilots", Trading Robots

    Taking onto consideration that at least one of the aforementioned offers "openly" affiliate status to a purchaser who like to subscribe as such!

    Now....Pharaoh the latter of your comments may be more to the point.

    I also posted some reviews regarding automated EA's and I gave maximum 3 stars. However, I qualified this by "trade real money at your peril." This comment surely could disqualify me as an affiliate.

    Would one fly a plane only on "autopilot" ? I would not.

    I do not believe that existing "autopilots" can safely trade FX without crashing at some stage of their journey. Some may perform better than others ( in the short term) but.... none can currently overcome the constantly changing market conditions.

    Most of the trading robots I am aware are designed to work with the MT platform, MT4 is the latest one.

    I will not elaborate further into MT4 platform and the brokers who offer MT.
    There is enough info in many forums. However, I invite traders to check the posting at.....

    Forex Factory - View Single Post - New Big Mt-4 Broker.

    :D
     
  5. Pharaoh

    Pharaoh Colonel

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    Hi Fantomas,

    Yes, I did notice some of the reviews you left. It's nice to see someone actually evaluate the good and bad aspects of a product instead of just wholeheartedly condemning/endorsing it with few details.

    I'm also aware of some of the more evil "stupid broker tricks" that can be done on the MT4 platform.

    Everyone should be VERY wary of 5 star reviews for products offering reseller programs. Maybe some of these products are good, but resellers have a vested interest in giving the products 5 stars no matter how good the products are.

    A good EA should be able to detect if market conditions are good for it. I have also heard that some people sit back with an assortment of EAs and unleash the proper one depending on conditions.
     

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