Searching How to choose a forex bot ?

[sebking1986]

Asking a bot to use lagging indicators to make future predictions will always end in tears in my opinion.

 

[baddog4x]

Asking a bot to use lagging indicators to make future predictions will always end in tears in my opinion.

it is my understanding that all of the basic indicators are built around some form of moving average(s).

a moving average is an average of the past, which has nothing to do with the future.

so, the basic indicators will never produce a lasting trading bot.

i dont even think that "lagging" is maybe the right word to describe the basic indicators.

what we want is an indicator that tells us what the price should be, NOT WHAT IT WAS.

moving averages/basic indicators are indicators of the past, but we want to find an indicator of the future.

do not ever spend money on any bot, because you will get ripped off every time.

 

[sebking1986]

Sorry I should have been more clear in my agreement. Using indicators that use statistics based on past data will not tell you what price is going to do. Since nearly all bots/EAs rely on this I don't see how they can work long term based on that logic.