What Is Your Take On Forex Robots / Machines

Discussion in 'Forex - Currencies Forums' started by dariel2323, Sep 6, 2014.

  1. dariel2323

    dariel2323 Well-Known Member

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    What is your take on forex robots/machines? Is there actually any forex robots that works?
    If there was such a thing, I think banks and other financial institutions would prevent anyone else from using it, they could make millions from it. So unless you really learn the trade on your own and develop a good strategy of running the forex business, no robots can do the job for you.
    Though it has advantages, it could make the job easier and faster, if you program it to adhere to your rules. But being able to formulate strategies for you to profit is still a far cry from reality.


    What do you think?
     
  2. crimsonghost747

    crimsonghost747 Senior Investor

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    Well the robots definitely exist. Whether they work or not... I have my doubts. Especially if we are talking about smaller trades where the commission has a larger effect on the outcome.
     
  3. dariel2323

    dariel2323 Well-Known Member

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    I have my doubts too, even more so because I see that there are many systems of those promising a very high amount of profits. There are people who have been scammed after depositing money in those systems. Then they scream
     
  4. Lin

    Lin Member

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    I do believe these robots exist (I haven't used one however). Forex brokers do know these robots exist and that is why they have built software into their trading software to detect these robots. I believe it's unethical and so I won't be using any at anytime now or in the future.
     
  5. JoshPosh

    JoshPosh Guest

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    I use to watch the EA championships and some of these bots are amazing. I don't know what the kind of logics they use but I'm dying to know what it is. Until I do understand it, I wont be using one to execute my trades. I have use a take profit ea if i wasn't at the computer. But for executing a new order, no way.
     
  6. crimsonghost747

    crimsonghost747 Senior Investor

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    It's not a matter of belief, they exist and it's a fact. The majority of the transactions on today's stock market are done by robots. But it's not illegal or anything, it's just a matter of having a computer do your trades for you inside parameters that you have setup. Makes it so that you don't need to hit orders 24/7 and allows for faster reaction to changes.
     
  7. joshua minaya

    joshua minaya Active Member

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    Honestly when it comes to the issue of forex robots or forex machines i must be very honest with you that in that area i have very little faith and you chould not blame me in that regard. the reason is because many times such programs have turned out to be a big disappointment.
     
  8. systematicfx

    systematicfx Member

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    Think.... If these robots were working, why would you sell it for few USD a month or few thousand USD to buy it. They are all scam without exception.
     

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