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Queries About Trading Robots

Discussion in 'General Forex Talk' started by Ng Eng Hou, Sep 16, 2009.

  1. Ng Eng Hou

    Ng Eng Hou Recruit

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    Hi,

    During mid-Aug 09, I signed up to Fapwinner and started trying on demo trading in 20 August 2009 with the amount of US$3,000.

    Till now, the gain is only US$30 and the robot trading so far only trades for 3 days.

    While I understand the risk of over-trading, but I just wonder, it is almost reaching a month, but the robot only trades for 3 days ?

    Can anybody tell me is this normal ?
    How often do forex robots normally trade within a week ?

    The problem is with the miserable gain of US$30, I can't even cover the cost of my initial payment of US$99 to Fapwinner and the subsequent 12 months of US$49.95 monthly payments.

    Can anyone advise me what had gone wrong ?
    Every week, I have faithfully followed the settings as advised.
    I can't get any definite answers from the supporting guys there.
    I learn to hear some comments from fellow traders here.

    I came across this protection tool that could help forex traders to protect themselves against foul play from forex brokers. This tool will help to conceal the real position of the forex trader from the broker who may spy on any particular trade. This tool is offered by a husband and wife team at the website Broker-Nightmare.com

    Just wonder, if anyone hear of this new tool or ever try this protective tool before ?

    I wish everyone here profitable trading
     
  2. Nancy Cheah

    Nancy Cheah Sergeant

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    Do you really believe that those so-called "robots" can replace humans?

    Be realistic please.

    Go ask banks whether they use it or not because banks trade in billions and trillions.

    If they do, then we should.

    Regards.
     
    #2 Nancy Cheah, Sep 16, 2009
    Last edited: Sep 5, 2011
  3. clem699

    clem699 Sergeant

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    Nancy is right,robots can never replace humans,i mean humans who have took a lot of time to develop their own trading strategy rather than relying on what a so called guru have prepared without even explaining to the customers parameters used in arriving at the signals.Consistency in forex trading is not tea party.
     
  4. ernest8fingers

    ernest8fingers Master Sergeant

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    I used to think just like the 2 posters above me-used to until I actually created one(EA). I do agree that no robot is better(yet) than a human-but EA trading DOES have many advantages. No emotional decision making is a BIG plus. You dont have to babysit the markets for hours or days-as long as the Internet connection holds your EA will trade(well mine will anyway). I also let the EA "manage" each trade through its life cycle. EA's reduce the tedious aspects of manual trading at least. Of course accuracy is key to a good EA. My personal experience with EA trading has been a Forex lifesaver. I was almost ready to throw in the towel around 9-2008 during the "greatmeltdown". EAs and MLQ4 programming gave me that confidence to get back into the game. Until a Forex trader finds their comfort zone-they are doomed to donation.It wont matter what EA or manual trading system they use-IMO. Of course, ploping money down willy-nilly on every 2-bit EA published will also drain your bank account. Education 1st-this one fact will save countless hours of frustration and maybe hundreds of dollars. Good luck all.:)
     
  5. clem699

    clem699 Sergeant

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    Well,you developed an EA which has been consistent in profit taking but it is your system,you definitely know its strength and weakness,it might not work for another person probably do to the timing when the EA is at best or due to other reasons.The only advantages an EA or whatever robot has over manual trading is that (1)there is no human error;mathematical calculation and(2)no human emotion vis a vis stress which is associated with manual trading.But i put it to you that there are periods when open trades needed to be modified,adjusted which would either increase profitability or reduce losses,EA can never do that for you.With a good and well tested trading strategy which have been proof tested for MONTHS develops the trader's courage and the issue of human emotion is reduced to the lowest level.As a matter fact a well prepared strategy will train you to know 80% of the time in loosing trades which would assist you to properly plan your exist level.You can as well know when to hold-on in an unexpected and rather long trades provided you stick to the strategy which should be reviewed regularly because the market is itself is dynamic and you have to approach it that way.Forex trading is business and a profession,i strongly believe that success in the market will be determined by the time that is set aside in acquiring knowledge through courses,books,journals and practicals.Surprisingly a large percentage of this works are available free of charge provided you do alot of research on the internet.

    A large percentage of this EAs are quite expensive but the most annoying thing is that they are not that reliable.
     
  6. ernest8fingers

    ernest8fingers Master Sergeant

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    I fully agree

    I agree fully with your post- I dont fully trust EAs because I will never fully trust the Broker(any Forex Broker). I usually trade my EA when I can monitor its progress unless a trade is "locked in profit". I do not have it "ON" 24/5. Only experience and Education (hard lessons) teach u the discipline needed to Withdrawal more than Deposit-IMO. I wouldnt discount any potential "edge" when trading in the Forex meat grinder.:)
     
  7. vans22

    vans22 Private, 1st Class

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    :)Nancy Cheah is correct. From the word itself.They are just robots that we humans made. Even the top of the line super computers in the world is operated by humans.Just read between the lines if you know what I mean.Besides this EA's alert you if you are not watching your platform so they can buy or sell for you.What is the used of trading if you can't devote time into it?:D
     
    #7 vans22, Sep 29, 2009
    Last edited: Oct 1, 2009
  8. Doug Reo-Cocker

    Doug Reo-Cocker Private, 1st Class

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    Every robot have a different trading frequency and I will advice not to risk more money than what is suggested to overcome that fact. I will recommend you to dump that robot and go to find one that suits you, and to look for third party testing to know where to start, like 4xproject.com or
    forex-robots.com.

    Then, I haven't heard about that tool, but at the risk of looking stupid, I don't think that it will change the performance of your EA.
     
  9. kola8701

    kola8701 Private

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    ...

    Can never trust robot with my money.
     

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