Forex Robots
Has anyone had experience using Forex robots available and is there anything you would recommend? How successful have they been from a yield standpoint. What I found out was – The federal government warns that there are many forex scams out there, and these Forex robots appear to be a type of these scams. If these robots really worked, there would be lots of articles about them in the Wall Street Journal and other financial publications talk about them. When I do a web search, I can not find a single reputable news article promoting the use of Forex Robots. The link below is a federal Web site warns you about Forex fraud. There are a lot of people on the internet that claim to have done very well using forex robots. These appear to be of two types. A pure liar. You can meet a person named "Zboy227" who says "I made a lot of money using ScamRobot2000, visit their website at ScamRobot. Com/Zboy227." The "/ Zboy227" says the website Zboy227 have referred you. If you buy the product, may Zboy227 a commission. He's just lying to you to get a commission. There are a lot of luck in Forex. Sometimes you will encounter people online who have tried a robot for a few days and have had some beginner's luck with it. They start bragging about how good they have done. Later, they start to lose money, but they rarely come back on line and talk about how much money they lost. People often brag about their successes, but rarely talk about their losses. The result is that a lot of feedback about these Forex robots are positive. I can point out that sites that sell Forex robots recognize that there are a lot of scams out there. Of course, argue the other guy's robot is a scam, but their robot works. If you do a search on the words "Forex Robot" and "scam" you will find a lot of sites that say their competitors are scams. I'll admit that I have not personally tested all of the robot out there, and I can not prove that they are all scams. But I would be very hesitant to spend much money on a robot without clear evidence that it really works.
Tags: Federal Government, Federal Web, Feedback, Few Days, Financial Publications, Forex, Fraud, How Much Money, Liar, Losses, News Article, Robot, Robots, Scams, Standpoint, Successes, Wall Street, Wall Street Journal, Web Search
Forex Robots are scams. . . . . . . . . The Government Has made them basicly illegal, Don't buy one. . . . . . . . .
Teach, Learn, work hardm do these for Help. . . . . . . . . . . . . . . . . . . . .
I have played around with several of the Robots that are available. The main thing that I have discovered is that you don't want to get greedy. As with any trading once greed sets in, it's all over.
I am sure that there are scams involving trading robots, but that does not mean that the concept is flawed. If you read about the tremendous success that the Ritchie brothers had trading commodities in the seventies and eighties, they were robot trading.
From experience, I can say that currency trading is not the easiest way of investing to learn. It really is more involved than giving your money to a broker and then making money. Trading an account manually is really quite involved, and the frightening part is that one click made by mistake, can cost you very much.
I know about all forex robots but I found few robots working,One among them is Fap turbo Automated Trading Robot. Fap Turbo is very successful to me.
Robots can be hard to set up, many are scams, and full automation always brings extra risk (which is not a good thing in an already risky market).
A good signals package as a guide + your own knowledge/training > robots
I've been researching forex robots for a while and have actually used them in the past myself. Some are good and others are bad. What it really comes down to is your self discipline and ability to follow the systems set in front of you. Most people are not able to follow simple rules. Here's an article that I found that may help you.
To me most robot can make money. The key is how you use the robot. I am using a very simple robot from currencymeter. com
It works great in all market. They provide a videos and manula on how to use it.
I am making anywhere from 5 to 7% weekly on my account which better than any investment outhere.
Risk is only 2%.
Hello,
There are quite a few robots available and it is difficult to tell which is the best. What is good for me might not be good for you, so you need to test any and see which suits you best. As for the results, it is up and down, but as of now I am managing to stay on plus (quite a nice plus to be honest). Just remember to think and plan long term. If you are looking for short term quick money you might be disappointed.
One of the issues with Forex robots is that they often perform differently in various market conditions. Therefore one robot that performed well for the past few months may not perform well next month.
It is important to keep in mind that past performance is no guarantee of future performance.
One technique that has worked well is to spread your portfolio across multiple robots. This helps reduce risk and also tends to compensate for varying market conditions.
One of the private investment groups I belong to trades across 7 robots with a margin of less than 1. 5%. This has proven to be a consistent, conservative strategy.
Also, Forex robots are not illegal. They are simply an automated disciplined approach to trading Forex while eliminating the impacts of human emotions. Such as Fear and Greed.
Best wishes for your success.
Paul
Here's an answer regarding Forex robots that explains the difference between human trading and getting a forex robot or expert advisor to “think” for you.
The first thing to say, in case nobody has explained this to you before, is that a forex expert advisor is not a person as you may think. It is a robot, or in other words a software program that trades for you in the foreign exchange market. You set it up according to a system, telling it how much you want to risk etc, and it goes ahead and makes trades for you whenever the market conditions are right.
There are two main advantages in having an EA trade for you. The first one is obvious. Provided you can keep your computer connected to the internet, it can watch the markets 24 hours a day, which you could never do yourself. The foreign exchange markets around the world are open constantly from Sunday afternoon to Friday afternoon, and there is no way you could do this for yourself.
The second big advantage is that a robot is not going to panic or get greedy. It has perfect natural self discipline, always follows its system to the letter, does not become distracted and is never affected by emotion. If something goes wrong it is mostly either human error (you set it up wrong) or a technical problem, mostly a break in the world wide web connection. You can pretty much eliminate the latter if you can set it up on remote hosting instead of running it on your own computer, but many people these days have reliable 24 hour broadband that is not going to cut out on them. So a robot is way more reliable than a human trader.
Most people's problem when they start out forex trading is that they do not have enough self control to operate a trading plan successfully. You may be thinking that this does not apply to you. Most of us, especially men, think of ourselves as being pretty well controlled and not likely to be swayed by emotions. Right.
But I'm not talking here about the kind of emotions that make you break down and cry (although you might!). I'm referring to emotions like the rush of excitement that you get when your trade is winning and you want to hold on and see if it will make it to the next big number of pips. Or the fear and panic when you see a trade losing. You forgot to set the stop, or set it in the wrong place. What do you do? You hesitate, not knowing whether to close out right now or wait and hope the market will turn around. Meanwhile, you are losing more and more . . .
If you think that these things could not happen to you, then you have probably not been trading on a live market for very long, if at all. Unless of course you are using a forex expert advisor, which makes it possible that these crises and panic losses will never happen to you.
This does not mean that all robots are good, any more than it means that all human traders are bad. Some human traders make a lot of money. Some EAs make none. You need to pick the right one. Avoid free expert advisors . . . they may not cost you anything to buy, but they will cost you a whole lot in trading losses! Take time to find the best expert advisor to give yourself the best chance of making money from the get go in the risky world of foreign currency trading.
If you want to take the hassle out of trading forex on the markets then this could be a useful tool for you The Ivy
Forex robots are NOT illegal. The robots simply identify patterns and use a consistent system to trade currency. A lot of the robot sites claim you will make millions, which is misleading. They are merely a tool to help you keep your emotions under control and follow proven techniques in your trading. I have used a few robots and these are my two favorite:
MegaDroid -
There are 3 robots that are really worth looking at and work with
Fap Turbo
IVYBot
Megadroid
The last one is a metatrader4 advisor work only with EUR/USD with minimum account of 300$
The other are general but suffesticated robots the fap can make you small profits but with minimum risk
The second one IVY is more for prave traders who want to make higher profits
Here is a small review of those 3 robots
loads of them are available for you to choose from- a word of caution here beware of scams. In case you are a novice trader read my article by cliking at the following link
I suggest you invest 100$ and learn the fundamentals. You will lose this money pretty fast, but notice it as an learning experhyment.
Been trading for any time now with forexyard FSA.
The minimum deposit is 2000$ I recommend 1500$ more.
The catch with most brokers/forex robots is that “you can't loose more than you invest” However!! you will lose it fast if you don't have enough money invested.
See, the robot will open many positions and hold them for hours, days or weeks, your positions will almost always be in the red, any of them many hundred dollars each. If they suddenly combined exceed the amount you have in your account you lose all because they close.
If you choose to open an account you can choose between a lot of different systems/robots. Find any with low risk (low Max DD), high win rate, high profit etc. you can browse and notice how much each robot has earned the last year in detail.