Do trading robots work?

I have been seeing ads all over the internet of people advertising these ‘trading robots’ which apparently take the emotion out of trading and are consistently profitable.
I just want to know if anyone here has used one before? if they work and are profitable or are just a scam to get at peoples money?

The key word, there, is “apparently”.

They “appear” to do that, because they’re designed to appear that way.

The people selling them are successful [I]marketers[/I] rather than successful traders.

In theory, there could be a successful one. Of course, it wouldn’t be marketed that way, if it were really successful, and this is the key concept to understand, in order to interpret what’s really going on.

There have been successful ones in the past, too: in the 1990’s [I]Crédit Suisse[/I] leased a trading robot from a group of American academics (software engineers, mathematicians, market analysts and traders). I believe they paid $100,000 per month plus a share of the profits from using it. A very interesting book was written about it, by Thomas Bass, who already knew a few of them from an earlier “escapade”.

And other institutions have done similar things, since then.

That’s typically the way such situations arise, are researched and developed and marketed.

The big trading institutions employ teams of very highly-paid experts specifically to assess and investigate them, and people who have one that really works can make fortunes from them via that route, without needing to advertise them online.

With the more-or-less home-made ones you see advertised online for a few hundred or a few thousand dollars, the same standards haven’t typically been applied at all (usually they’ve simply been backfitted to historical results, which is very easy but not helpful), and - predictably and understandably enough - [I]the outcomes from using them tend also to be radically different[/I].

Making money steadily through trading isn’t easy. It requires, patience, discipline, education and practice. It’s when people seek short-cuts to trading income that all the “accidents” typically happen.

Someone far more cynical than I might observe that the aspiring trading public gets the robots it deserves: as long as people are gullible enough to buy them, and others incentivised to promote and sell them, they’ll remain available. Meanwhile, we each decide for ourselves whether we want to try that approach to trading.

And welcome to the forum.

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Thanks that answered my question and more. :slight_smile:

If they really worked we’d all be millionaires lol

When it comes to robots and advertisements about them I always wonder why people are selling them if they’re so profitable. Why not use them to make a lot more money that what they’d profit from their sale?

It may bring some ease for new traders, but as for me (btw, I’m new too, trade for 4 months only), robots can’t be trusted, they know only their own programm and won’t be able to analyze some sudden changes.
Moreover, it’s too risky for me to trust a machine my money :slight_smile:

I don’t believe their cheap advertisement language! Because, I seem Forex is not easy way of money making! By the way, maybe there have some professional Forex traders who are working with their own trading EAs! But depending on others trading EA or system is really costly! Traders need to learn fundamental and technical analysis properly for manual trading!

Exactly what my thoughts were, if there would be such robots that successfully made money, then there would be a large number of millionaires in the world.

They are basicly gambling machines. The key is simplicity. Of course your not going to find a Robot for $40 on ebay, and of course your not going to find one on the web that doesnt cost $1million.

If the income is endless, how much is it worth to you?

Seriously, think about that.

THAT is why, you cant find one, or you think one doesnt exist. You either make one, or you wont ever find one, that is cheap enough for a retail trader to buy. If you could afford one, you wouldnt need to trade in the first place.

Hello,

Yes, trading robots can really work and they do have the potential to generate weighty returns for the investors.
First you need to understand what trading robots are?
Trading robot is a way of automating your trading style based upon your coded logic. Now, if your trading logic is right and it has the potential to deliver profits then definitely forex robots can work for you.
However, the real issue comes in finding the right robots. Presently you would find thousands of forex robots on Google and it become a tedious task to find the right robots from those many options. I completely agree that every robots can’t do the trick and even the same robot can’t deliver you return all the time.
So you need to find the robots right based on the current market conditions and then doing the back testing on time frame of similar market conditions. As the market condition changes, you need to change your robots strategy.

yess definitely the trading robots work, however they are not reliable at all time. they can not play with tricks smartly.

You want to see one of the most profitable robots ? just google “dragon scalper ea droland” take a look at his myfxbook stats :wink: it was trading on a real account.

…Mind you the broker took all his money when they did a runner. But were caught by a Canadian mounty on a horse hahaha.