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Forex robots

Discussion in 'Beginners Bootcamp' started by atnash, Aug 14, 2010.

  1. atnash

    atnash Recruit

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    All I keep hearing about is Forex scams. Can anyone tell me if they know of a forex robot I could use that is really good?
     
  2. Harrypall

    Harrypall Recruit

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    There are plenty of Forex Robot in the market but endosing any could be dangerous as the perfomance of the market economis condition can not be predicted by any robot
     
  3. ibham1

    ibham1 Private, 1st Class

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    Megadroid is good but you need a good broker such as Alpari, stops are high compared to the take profit so its important to use low leverage. Doesn't trade that often - but very accurate.
     
  4. atnash

    atnash Recruit

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    I keep hearing about a lot of Fores robot scammers. Does anyone know of a great Forex robot?
    Thanks
     
  5. Pharaoh

    Pharaoh Colonel

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    I'm not sure I know a great one, but I know the warning signs for bad ones. If the SL is 20 or more times the TP, it's probably been over-optimized on backtest data and will quickly fail in forward testing.

    If there is no SL, it's just a suicide machine. Any EA that claims no losses is either lying or using no SL. This means it holds losing trades open forever, hoping that they will come back into profit. Sooner or later, you'll get a margin call as your ultimate SL.
     

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