Forex robots

Discussion in 'Forex' started by Saxbadams, Jul 26, 2019.

  1. Saxbadams

    Saxbadams

    I’m a complete novice but have been told there’s money to be made with Forex robots. No particular knowledge required and the robots function on their own once you’ve set it up.
    Is this true and if yes, which robot is the most recommended?
    I’m only starting with small money. Don’t want to lose my shirt!
    Thanks in advance for responding.
    Cheers.
    Kismet.
     
  2. RedDuke

    RedDuke

    I have been told that if you see unicorn, any wish will come true.

    Comon, hope you do not believe in fairy tales. No one will ever release an algo that makes money to public.
     
    LloydPhill, alfa8, Peter10 and 2 others like this.
  3. Please no.

    If you really want to, go onto something like Collective 2 and do your research on how to evaluate strategies before you rent one. There's usually a catch than makes a strategy far less good than its performance to date might make it seem. In particular, then are quite a few that blow up and can put your account balance at zero or worse. Then again, this is usually related to the level of leverage, too. You can blow up buying and holding S&P 500 with fairly modest leverage through a bear drawdown.
     
  4. MKTrader

    MKTrader

    Haven't looked at FX bots in years, but maybe OP can try one of those Martingale counter-trend ones. If a currency remains range-bound for a few months, he might make some money...if he's isn't greedy and doesn't wait for a big move to cause a margin call.
     
  5. alfa8

    alfa8

    There is a robot called "buy low sell high"; if you can find the original code, or the coder; you will be rich in no time.
     
  6. Aaronpp

    Aaronpp

    It depends entirely on what robot you’re using and what market, today you must choose very well what offer you are hiring since most companies are focused on making money and not on providing a service that works perfectly for you, Because of that, most people are looking to rip you off and take away all the money you want to invest without mentioning the commissions that some people put in.
     
  7. Trading is all about being flexible and changing plans based on experience and intuition about the market situation. I personally do not support the idea of using robots.
     
  8. RedDuke

    RedDuke

    Glad it works for you. For me, if it cannot be backtested and automated, it does not exist.
     
  9. Yes! Its all about personal preferences.
     
  10. I use a robot and I'm up nearly 100% in 3 months
     
    #10     Aug 28, 2019