How to choose a forex bot ?

Tomas J

Recruit
Messages
5
Hi!
I am currently choosing a forex bot for trading on the mt4 mt5 platform.
Please help me to understand this problem.
What are the main criteria for choosing an Expert Advisor?
What functions are important in the software ?
Is it worth using free expert Advisors or is it better to buy them ?
If you buy a bot, what amount is acceptable ?
Who can you recommend from the robot manufacturers?

Thank you in advance for your answers.
 

Vinfred

Private, 1st Class
Messages
41
Be careful with these. Good and profitable robot can not be found for free and this opens a door for crooks. They offer extremely profitable robots for reasonable price, you pay it and never get your bot. When you think you found a reliable bot provider, check on FPA forum if somebody has already dealed with him
 

Tomas J

Recruit
Messages
5
Good luck, never found a profitable one myself
Be careful with these. Good and profitable robot can not be found for free and this opens a door for crooks. They offer extremely profitable robots for reasonable price, you pay it and never get your bot. When you think you found a reliable bot provider, check on FPA forum if somebody has already dealed with him
Thank you for your answers. If you have had experience buying expert Advisors, you can tell us what functionality is important in the software?
So that I could clarify whether this is in the programs that I am offered
And what is the reasonable price for such a bot?
 

Vinfred

Private, 1st Class
Messages
41
Thank you for your answers. If you have had experience buying expert Advisors, you can tell us what functionality is important in the software?
So that I could clarify whether this is in the programs that I am offered
And what is the reasonable price for such a bot?
I haven't have a lot of expertise regarding EA's and also steel need help and advice, because so many scammers around. I think the main and important thing is that robot must have support team and if you have any trouble you can contact them and of course must bring money.
Here is my thread about EA's https://www.forexpeacearmy.com/community/threads/please-advice-e-a.69925/
Maybe you find some useful info there
 

Fenrilrajas

Recruit
Messages
52
I'm actually don't think that it's rather easy to find a trading bot. Wish you good luck in searching at least because it's difficult to find a free bot which will bring you profits. I do believe that if there are some bots who somehow can bring you profits, then developers must make them paid. My closest friend tried to trade with a bot and didn't lead to something positive. In the very beginning from 500$ bot leaked 400$, fortunately via the month it managed to restore the accout and my friend just take his money back because it was so dicey. You'd better try to trade by yourself, you will lose less nerves I think.
 

Keithstyles1

Private
Messages
143
I haven't have a lot of expertise regarding EA's and also steel need help and advice, because so many scammers around. I think the main and important thing is that robot must have support team and if you have any trouble you can contact them and of course must bring money.
Here is my thread about EA's https://www.forexpeacearmy.com/community/threads/please-advice-e-a.69925/
Maybe you find some useful info there
 

Faelar

Private, 1st Class
Messages
87
Personally, I don't think that trading bots can help you to earn money from trading activity. Well, of course they can sometimes bring you some profits however it won't be a long-lasting trend, you know. If you've decided to acquaire a EA then you have to pay attention to paid bots, because they have much more chances to be effective when you will be trading. Free bots are okay too, but some traders always doubt in their abilities, hence it would be better to buy it. Nevertheless, to my mind there is no need in bot because everything a bot can do, you can do by yourself and even more. Make only weighed deicisions.
 

baddog4x

Dishonorably Discharged
Messages
46
because everything a bot can do, you can do by yourself and even more.
bots can make complex calculations that would be very tedious to do by hand.

bots can sit patiently for hours or days waiting for a specific event to occur, and then to act upon that event precisely according to pre-programmed instructions.

the primary reason that the majority of bots fail is because they use some form of moving averages as their core indicators.

a moving average is a memory of the past, it is not an indicator of future things.
 
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