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Forex Robot – Do they work?
There are many questions about forex robot and whether do they work?
What are FOREX ROBOT?
Forex robot in fact is the automated way people choose to trade forex with.
But the question is whether do they work?
If you go research around for real forex robot reviews. You will find that most doesn’t work. Or at least over 90% of them do not work.
WHY?
Think about it, if forex robot do work. Why do banks and major institutions still need chief forex traders and forex traders?
They have all the money to develop the best forex robot, why do they still need human to trade for them?
Forex Robot – Do they work?
Then the next question would be, But those forex robot have a perfect 10 year track record.
So they should work right…
Wrong.
Here’s the fact – track records can be manipulated.
And past performance are always not an indicator for future performance.
Forex robot are develop by – DEVELOPERS.
Usually NOT Real forex traders themselves.
If the forex robot would make them so much money and have such a perfect track record.
How much do you think it is worth? At least for Millions of dollars?
But how much are those forex robot selling in the market. Less than a hundred bucks. Feasible?
Forex Robot – Do they work?
The hype in the forex market for automated forex trading WILL be always there.
Because people are always looking for ways to earn money on autopilot with just a click of the button.
Therefore there will always be new forex robot coming out every other day.
If you want to make forex trading your career, take some time and diligence to learn to trade forex.
Your future should not be relied on some automated forex robot, it will not work forever.
But once you have mastered forex trading as a skill, it will be with you for life.
And you can pass this skill on to your future generations.
Disclaimer: I’m not saying that ALL forex robot does not work, the above is just my opinion and i will not be held liable or responsible for it.
Check out our AFM winning Price ActionForex Course where i teach you the exact FULL Forex Trading System that i personally use to be consistently profitable.
See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
A complete professional forex trading system that even newbies can apply instantly. Asia Forex Mentor's forex course is now FREE!
Its a good article logically explaining about "why forex robots do not work". I have to agree with most of your points. The only thing where I disagree or which I dont like is "way of writing". Big spacing between lines looks too odd.
Originally posted by illiterateIts a good article logically explaining about "why forex robots do not work". I have to agree with most of your points. The only thing where I disagree or which I dont like is "way of writing". Big spacing between lines looks too odd.
I think most of the new traders here are mistaken by the line spacing. Line spacing shown during post writing is actually not equal to the published post. To decrease line spacing (shift + enter) is used instead of (enter).
Stick to your rules
robots will work only if they r optimized regularly. Usually EAs available in forums and other free sites are not fully optimized and that is why only a few of them work. Usually traders optimize themselves (only those who know how to optimize). That is why most of the robots fail.
A single fixed strategy is destined to be a failure in forex - unless you have an adaptable SL, adaptable TP, and adaptable entry, then you will gradually lose money over time. High frequency trading bots that take advantage of 2-3 pip moves with a tight spreaare something different though - not really had experience of using one myself.
That is because market movements never change in a repeated manner. So a fixed strategy is unlikely to work.
Problem is not with the market, it is with our strategy. It is us who cannot make perfect strategy (which is not possible). If someone can take into account "ALL" market behaviours, he will be able to produce neart-to- perfect strategy.![[grin]](/themes/default/images/smiles/grin.png)
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Originally posted by CFXsignalsA single fixed strategy is destined to be a failure in forex - unless you have an adaptable SL, adaptable TP, and adaptable entry, then you will gradually lose money over time. High frequency trading bots that take advantage of 2-3 pip moves with a tight spreaare something different though - not really had experience of using one myself.
Strategy with high scucess rate on more than 1 year live account can work for very long period. It will need very little tweaks. Usually techinal indicator strategies need tweaks. PA and fundamkental do not need such tweaks.
That is a drawback of using indicators. You will always have to update ur strategy a little bit. Price Action is a skill as well as strategy which, once u learn, will automatically upgrade as the market changes its behavior.
Stick to your rules
If the forex robot would make them so much money and have such a perfect track record. How much do you think it is worth? At least for Millions of dollars? But how much are those forex robot selling in the market. Less than a hundred bucks. Feasible?
These 3 lines in the above article r enough to conclude that all commercial EAs r actually scam. There is no six figure EA, no millionaire EA and no money machine EAs. If there r then owner is not selling them.
yes....!!!!!