Auto trading using robots seems to be a touchy topic between forex traders. I was going through some threads on FAPturbo and that thread completely trashed this trading robot calling it one of the worst and even say that robots dont work and are waste of time and money.
Then, I was trying to complete the Forex school on this site and in the 11th grade it says they do work but ou require a good amount of money management.
So, people what is your collective thought do they work or they dont??
I’m not going to tell you how to, or not to spend your money. If you don’t want to learn how to trade, throw it in the toilet and flush away.
Chubs
Question here is not whether I want to learn trading or buy those robots. I am asling do they work or they dont??
they do work trick is to match an ea with the market conditions they were designed. To give you an example head over to forexfactory and try out nanningbobs ea. Read the manual understand how it works which pair its suited for and how to trade it. Check his seven year currency facts to see the probability of the EA blowing the account. I know for a fact it works.
This is just an example what I’m trying to say is some EA’s do work if you trade them in the market conditions they were designed for select the fx pair carefully trade during the correct session and practice safe mm.
If anyone thinks you can just plug in an EA anytime come back after a week and collect your wedge … forget it.
Thats the same case with your strategies, right? I mean you trade based on some technical indicators like EMA, PSAR etc. and you say to yourself if the values are so and so I will do the trade, if it isnt, I wont. That doesnt guarantee you a success and, if you go over the top most often than not you will blow your account.
My point here basically is if we are dependent on technical indicators to do our job, we can program the same and let robots do it for us.
PS: How is the performance of the nanningbobs ea for you??
yes I think so, if your system is mechanical you can write an EA or use your platforms API to do it for you.
Bob’s EA? Well it was quite consistent in that it made small but steady gains but this was the old one the 80x20 one haven’t tried the new one but I hear its an improvement.
The reason I mentioned this particular EA’s is simply to make the point EA’s work I’m sure there are others out there which currently work as well.
Good to hear that. Actually thing is I have already have a system in place and wanted to get into trade during the London session but as I am in a time zone which is almost in between I would surely miss that session cause of my day job. So, I was thinking would it run perfectly?? I mean would it trade correctly for me?
Update: Tried my hands at coding. Back tests and the modelling quality(35.7%) are not so good. Looks like I will surely miss the train.Back to the drawing table.
Update: I wrote another one for EURGBP but there was volatility in the market and my brokers(IBFX) spread went from 4 to 9 pips and my robot again failed. Checked alpari 50 pips spread!!!
PS: Do you have some tips or settings for running Nanningbob’s EA? I mean currencies to trade on and time frames and asian, european or american session??
I would say that writing your own EA is the best thing to do because you know how your EA will behave and you can customize it according to your trading requirements.
as a newbie who started trading on last November, I was failing and losing money miserably doing manual trading because I suck. So I bought a couple of great technical trading and candlestick books from Borders, wrote my own trading program that I tailored to my style of trading and have not lost money since then.
here is my status report as of today, February 11, 1500h EST
babypips_class_of_2008
I think that they can work but you need to know how they work so that you can manage your capital accordingly.
I haven’t used any robots as such but have used some signal programs and most of them were a waste of time.
You just need to be carefull if you are purchasing robots. There are alot of useless products out there.
Guys, I have come to realise that backtests are complete sh*t and dont believe any EA until it has forward traded on a demo. I came to the conclusion after comparing the same settings on a forward test (last whole week) and then used the same seetings on a back test for the same period. A huge difference. Back test says 50 pips a day. Live trading barely managing 30 pips.
Dude dont use that CS here. I hate people like you crapping these boards with useless posts just to try stuff people. I would have to report to this to the admins to check all your posts.
People who dont understand what I mean need to google “Cookie Stuffing”.
Or check here:
Cookie stuffing - Wikipedia, the free encyclopedia
Update: Re-checked all his posts and all posts are promoting FAPTurbo with the same image link.
Guys, as I have been trying on EA and I think it is better to trade manually. The best of the best EA based on the “So easy”, “Cowabunga” etc system let me down.
Well said vicky_ag.
I don’t know why in forex forums we have so much spam and people trying to sell worthless stuff. I just wonder if these guys are not doing any money in forex so they try to sell this stuff?
Greetings.
Not that I want to be banned from this forum but there seems to be no action from the mods about it.
The techinque which has been used on this thread is quite sophisticated and could leaves our PC’s vulnerable due to the cookies being logged.
The reason I say it is sophisticated cause just viewing this thread and the page could prove harmful to anyone. See, just one view and your comp is vulnerable now.
Hey Vicky, I am clueless as to what you are talking about as far as the post by ForexBill. I followed your link to Wilkopedia, but really don’t have much of a clue as to what “cookies” even are!! :o And the link to the “image” you provided just gave me a blank page. What did you see in his post that tipped you off to all of this??? What is this “image”?? Myself, I saw nothing but a post recommending something called “FapTurbo”.
I’m very curious, now.
Potaire
Hey potaire, first let me educate you on cookies. Cookies are a kind of files a website puts on your computers to recognize you. For example, you check your mail and then close the window. Now, once again if you open gmail or whatever mail it is, takes you directly to your own inbox. How does Gmail know it is supposed to open your inbox? Cause it recognizes your cookie which it put on your computer.
Thats the whole idea of cookies in a nutshell.
So, basically if someone can run some kind of command he could steal your cookies and then use them to open your mail.
Now, what really ticked me off. If you open the image again, you would see it points to the webpage of fapturbo.
What happens here is, fapturbo pays commision to people to refer to them for their seemingly great EA.But, how does FAPturbo know which people deserve the commission money ???To simply, if A,B,C, and D refer people to FAPturbo and the person who actually referred was B. How does FAPturbo know? By putting a specific cookie onto to the computers of people.
This smart guy posted the comment that FAPturo works for him and made a use of a tiny image in his post. That particular image was a simple forum smiley but the actual move as to put a fapturbo cookie on unsuspecting people’s computers. So, when they fall into his trap and buy fapturbo, he earns the commission.
If the admins don’t look into such matters we could be flooded with marketers putting up fake signals.
Wow!!! Live & learn. I still don’t understand how you knew that smiley face was a trap.
Potaire
I knew that just by looking at his smiley. It was placed unneccessarily and that too away from his “Fapturbo works for me” statements. I mean it was not between the statements as we normally do. Instead of somethig like this , it was something like this (the below image).
Fasinating!! Is your bottom-corner one something special too? Or just a normal smiley placed there intentionally?
Potaire
Yeah that is something special too…
.Actually, I a computer programmer working with the world’s largest bank so I am supposed to these risks in and out.
Now the thread is slowly moving away from its main topic. So, getting back to it potaire, do u use EA oe manual trading? and what are your thoughts on those?