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Old 29-05-2014, 13:50
orni308 orni308 is offline
Level IV Lasers Member
Join Date: May 2013
Posts: 200
Default re: Successful trading bot

Originally Posted by RichRicher View Post
Forex robots will work as long as you recognize their limitations and have them deploy according to how you would trade the market.

Here's a piece of advice from FXPRIMUS Director of Training and Education Mario Sant Singh on his blog ( blog). I thought what he said is very true.
I do not use trading robots or automated trading systems for my trading but it is not because I do not trust the use of them.

It is because my trading style has always been ‘Fundamentally Driven, Technically Executed’. That means I prefer to have an overview of fundamental events and news that might affect the market before I decide to enter the market or not.

Automated trading systems are essentially trading strategies programmed into software code. They are all technically driven and do not take fundamental factors into consideration. The advantage of automated systems is that they do not have emotions and will execute your trades as long as the entry and exit criteria are fulfilled. The disadvantage is they cannot react to situations they are not designed for, especially when there are fundamentally important market events happening.

There are many robots in the market. If you intend to use one for your trading, you need to do your due diligence to find out which robots are profitable and most suited to the way you would like to trade the market.
yes even to use an EA you need to be a good trader and have to be watchful every time its not like its going to fix right trades everytime.
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