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Hi everybody!

Discussion in 'General Forex Talk' started by MonexFx, Nov 20, 2012.

  1. MonexFx

    MonexFx Another banned spammer for tradergroupsignal.com

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    Hi everybody! I have bad expereiences using Forex robots, what can you suggest me instead? Thank you!
     
  2. Pharaoh

    Pharaoh Colonel

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  3. fxjuanito

    fxjuanito Recruit

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    Robots actually work as long as you recognize their limitations and have them deploy according to how you would trade the market.

    But in the meanwhile, I would agree with Pharaoh to stop using the robot for the time being. I don't use robot because it's not my trading style. I still prefer to hold the saying ‘Fundamentally Driven, Technically Executed’. That means I go for an overview of fundamental events and news that might affect the market before I decide to enter the market or not. Perhaps you can do the same.
     
  4. perryfx

    perryfx Private, 1st Class

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    In my opinion. Prior to go with a robot it is better to understand about forex trading. Then we can develop our own method and can create forex robot based on our strategy. Semi automated robot may suitable to reduce unnecessary losses.
     
  5. TadS

    TadS Private

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    IMO robots can be a great tool but you really do have to know their limitations and the trading style of your particular program. While most off the shelf robots tend to be black-boxes (you can't see what's going on inside) it is possible to learn when they are profitable and when they are not.

    Running a semi-automated bot could run the risk of messing with the statistically significant strategy of the robot. If you are trading a strategy it is better to stick with that strategy than to only take trades you think will be profitable. However, this is completely contingent on you trusting your system and the robot.

    The first step of deciding any trading strategy or robot is the due diligence of researching and backtesting as much as you can.
     
  6. duderex

    duderex Private

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    I don't believe with the EA especially they are giving the most wrong reading than human. I prefer manual trading than with automatic trading.
     
  7. Whitesnake

    Whitesnake Corporal

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    Now that you have realized that robots are not working for you, better stick to the manual trading for which you need to gather the knowledge first.
     
  8. FringFX

    FringFX Sergeant

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    Robots are mainly unreliable, particularly if you just bought it from some vendor and you do not know the "internal circuitry" of your robot.
    I suggest to anyone who plans to use one, to be personally involved in creating and/or conceptualizing it.
     

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