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Robots – Why do they fail to deliver?

Discussion in 'Company Articles' started by Metapro Forex, Feb 6, 2011.

  1. Metapro Forex

    Metapro Forex Recruit

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    Robots – Why do they fail to deliver?

    The Automated Forex Software industry had indeed become very difficult for both Users and Developers. We agree that all the hyped up product launches, amazing results and hard selling tactics makes starting automated trading a tough decision.

    From your experience in trading forex so far, you must have noticed that the trading strategy and claims by the robot developers are a far cry from what may be considered as the golden rules of trading.

    If you were to trade full time manually, will you use the strategy/risk:reward being used by the robot you are willing to run on your account?

    Most developers just pick an indicator, tweak the settings till the EA produces great backtest results over a period of time (also called curve fitting) and package it as an automated software. They are great at marketing hype, product launches and hard selling.

    There are very little or no rules that such robots follow which will enable it to survive real world trading.

    The golden rules of trading need to be followed for both manual or automated trading.

    It is unrealistic to expect the robot to make significantly more than what can be made by trading manually (of course by trading with good strategy, discipline and consistency)

    Only a good trading strategy, strict discipline and consistency will enable any trader/robot to succeed.

    One has to acknowledge the fact that there is NO “Holy Grail” out there. The sooner we realize this, the better it is for our trading account.

    Backtest

    Backtesting any EA for about two years should prove its worth. Backtest are just an approximation on how the EA will perform and not an exact science on proving the strategy. This is mainly due to the fact that most historical data from sources like MetaQuotes or DukasCopy are “indicative data”. That is they are the average of price bars from several different brokers.

    In general, if the EA is showing fantastic results for longer periods, please be assured that the EA has been doctored to trade different strategies for different backtest durations. Unfortunately, this has become quite common in this Forex Robot industry. It is basically a marketing need for most EA developers since if they just show it never failed in the last 10 years, it is easy to sell the EA to the customer.

    How is MetaPRO Forex different?

    MetaPRO Forex is based on a proven and established swing strategy (ICWR).

    The software is designed around the basic trading principle of "Let Profits Run, Cut Losses Short"

    Built in Money Management

    24x7 Email Support – Response time of less than 4 hours

    24x7 Online Tech Support for Users (skype)

    One year free updates and free optimization settings

    Free MT5 version of MetaPRO Forex as and when MT5 is widely used and accepted

    At MetaPRO we do not indulge in hype, hard selling or any other dishonest means to sell the software. Our product was launched through review sites. MetaPRO was submitted for review, backtest and forward test to various review sites before its official low profile launch. There were no webinars or countdowns. We got all our traffic and clients only from members of various review sites.

    You are free to contact us anytime for further information you may need.
    For more information visit us at MetaPROForex.com or email us at info@metaproforex.com
     

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