are there any trading robots that really make money?

[don777]

Hello eveyone! My name is Don and I just signed up here. Im in the research phaze of getting into forex. I am curious to know if there are any EA trading robots that anyone here recommend for me to buy that would make me some extra money on the side. I dont expect to get rich over night but just some extra income on the side is what Im really looking for. Thanks a million in advance!God Bless All here.

[Pips4Breakfast]

From my research on trading bots, they are only good for short periods of time before they need tweaking to continue to be successful......so I wouldn't be looking to BUY any just yet. Focus on finding free ones and experimenting with those.

[equilibrium]

I don't think there is any, but i'm sure that if there is one, it won't be for sale for 29,99 in some marketing website. So don't trust the holy grail system websites, really, don't even waste time with it. Just think of why would a consistently profitable system be for sale.... makes no sense.

[JonnyFX]

There are EAs that make tremendous amount of money.
It's just that almost all of them are for private consumption.
They are not oversold and overhyped and overmarketed
on ClickBank.

And people who say dumb things like EAs are only
good for short-term really have no experience in
trading. If they did, they would never say such
things over and over. Why would it work and
all of a sudden stop working? Because it sucked
from the beginning that's why. It just got lucky
for couple of weeks. Over sold EAs suck, what makes
you think that free ones are of any value?

[don777]

There are EAs that make tremendous amount of money.
It's just that almost all of them are for private consumption.
They are not oversold and overhyped and overmarketed
on ClickBank.

And people who say dumb things like EAs are only
good for short-term really have no experience in
trading. If they did, they would never say such
things over and over. Why would it work and
all of a sudden stop working? Because it sucked
from the beginning that's why. It just got lucky
for couple of weeks. Over sold EAs suck, what makes
you think that free ones are of any value?

Thank yu Jonny for your respopnse! Im gonna keep learning more and more and when Im ready Im gonnas use an EA not for a perfect solution but as an assistant.

[Marcuse]

I haven´t used the robot myself , I going to check it out today as a close friend told me that it really works, it won´t make you rich overnight but it seems to be the right path to bag few pips daily and meanwhile learn your own strategies. I´m going to check the tradeview forex robot, I´ll let you know how it works

[Poco]

I have been testing quite a few and have posted the results on my site (link is in my profile). From what I have found in the past 3 months, the majority of them are losers. The ones that are winners do good for a while, then suddenly have a major wipe-out (read: your money goes goodbye!). I am not yet at the point where I would trust a live account with an EA.

The biggest problem with a lot of EAs is that they don't have good money management. That means they don't set a stop loss! During my testing I've had a few times where my test computer shuts down (yay Windows!) and with no SL the account can tank.

The better EAs have a SL that is reasonable.

[JoeGibbs]

I checked the tradeviewforex site to see the robot, looks great, nicely designed, I don´t know how worth to use it, but then I found a good educational pack(tutorial) that introduce newbies into forex

[stanely]

I heard that there is a rumor about some company developing some software that will allow you or your robot to trade for you and that it is using proven methods that will promise earning nearly all the time. I say nearly because the robot is programmable and the market does fluctuate constantly.

[Poco]

The only way to know if it works for sure is to put it on a live account and see how it performs.

Personally, I wouldn't risk more than $250 in a micro account to an EA based off of my research at this point... but I am finding some good ones. My testing had one that went from $5,000 II to $25,000 or so, but then it lost $12,000. It's still trying to make up for it though. Check my blog for the details.