Successful trading bot

[Donald]

Lately I've been using this bot: freerobot2010.com. Okay so it doesnt bring millions but it stable enough, for now at least.

Anyone else given it a try?

[vani]

Thank for the infromation, I think I will give it a try, however there are lots of good resources out there to help. One of the best I have some across is makemoneycurrencytrading dot co dot uk (not sure am I allowed to post links here?) as they run free webinars and training. And they run a live portfolio so you can actually see if their strategies are making profit live.
They also send out a daily report each day with the trades.

[sabrinathomas]

I think so for getting success in forex trading; a person must analyze himself/herself first then analyze the market., because, if a person initiate any trade in the market and gets loss, then nobody is responsible for that lose only, he/she is responsible for that the loss. If you are initiating any trade without calculating you risk appetite, the reward percentage of that trade, then it’s a big mistake. Without analyzing yourself if you are entering in the forex market, you may face many problems.

[RichRicher]

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 (askmariosingh.com 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.

[orni308]

Originally Posted by RichRicher

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 (askmariosingh.com 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.

[DirkNannes]

Usually, we believed that, it is enough to gather most powerful analyzing trade knowledge to keep survive in this market place. but, practice ally, in spite of having exact trading skill, it is not probable to make profit constancy, if you do not have a reliable support from a trading broker.

[goldtrader]

we need test long time with ea. and we should put it with demo account in real time. i was lose much money with ea. now i don't belive it. if you have ea you should test carefullly before you invest money for it.

[orni308]

Originally Posted by goldtrader

we need test long time with ea. and we should put it with demo account in real time. i was lose much money with ea. now i don't belive it. if you have ea you should test carefullly before you invest money for it.

Managing an EA is difficult , we have to spend a lot of time in tuning it and moreover in the turbulent market situation you cannot trust it.

[piplaser]

Originally Posted by Donald

Lately I've been using this bot: freerobot2010.com. Okay so it doesnt bring millions but it stable enough, for now at least.

Anyone else given it a try?

I don't trust robots anymore, after What I learnt from my former broker, robots are not the best especially if your broker is a market maker. That my broker was a market maker and it possibly liaised with the robot makers to steal from clients.