Auto traders - where to start

I am not so knowledgeable about this matter. So i have to learn it. Thanks for the post.:stuck_out_tongue:

[u]pret auto[/u]

Couldn’t agree more…
But as everything in the world we’re living in, if you don’t know how to do something, others will do it for you. it started with cars (from manual to automatic transmission), so why are everyone are surprised :confused:
and bcs of that, if you want it or not, the future of forex market for “ignorant” traders will be filled with autotraders.

there are a few industries that will never be replaced by robots “prostitues and traders” both fall into the catorgry of industries that will never be done by nothing other than a human being, we will all ways have traders weather in the pit at the chigargo board of trade or NYSE, LSE or even small timers like me sitting at home, computers may help a lot in some cases without them i certainly wouldnt be able to trade. But dont get confused,

99.9% of robots for sale on the market are on sale waiting for the gulable to come along pay $100 in return they believe they will return home rich

a 2 trillion dollar day industry and all they need to crack it is a $100 auto trader of the internet

im sure if you stood out side the LSE and approcached a trader to buy one head say yes, my god why didnt i know this before.

also if you look at it from another point of view, Pilots are one the most respected professionals in the world, begger belief pilots on the new class of plane actrully do very little during the flight as the autopilot does most if not all the work.

so why do we have pilots

well i dont think anybody is confident enought to get on a plane with out somebody who knows how to fly the plane other than the computer, but more importantly if something went wrong were the pilot had to take over we know with the correct expieriance and knowledge 99% of the time the pilot could bring the plane down saftley

my question to you is if you are in the pilots seat (tradingseat) and something goes wrong with the plane (or forex autopilot) could you saftley bring it into land (not let your account crash and burn, killing all) with no expiriance trading other than just buying a forex robot.

do your self a faver speand a little time just to learn the basics is not that hard

Nice metaphors but don’t the auto trading is exactly like the plan? You have the autopilot but you can become the pilot the moment you want.

yes absaloutly, my disagreement is if you have no clue how to trade in the first place, or you dont understand why and how the robot works how the hell do people expect to make money of it

so yes you can become the pilot at any moment but that no good if youve never flown a plane before in your life

This is a strong argument, especially needs to be taken under advisement for newbies (like me…)

No free meals…:eek:

autopilots/autotraders is one of the best semi-passive income you can CREATE if you are the developer… however buying it from other, i wont trust their system.

if it is made out of a good system it can yield profit in the short/long run.

sure before u even want to use it u NEED to know how to trade manually yourself. and you must consistently monitor your autotrader/autopilot

however trading manually is still an essential skill , it is the most basic. if you want to use autopilot/autotrader please atleast learn the basics before u go to the advance level .

As promised, we did a review of an auto trading system, you can read the results in a post called The Fundamental Principles of Forex Auto Trading

where is it?

there are a few industries that will never be replaced by robots “prostitues and traders”

Hahaha… nice sentence…
i think it should be nominated for [B]“Best Forex Quote of the Year”[/B] :):slight_smile:

An automated trading system is just another step in the evolution of technology and is only natural to have such tool today in the Forex world. Using the automated system does not mean necessarily that you have no knowledge in forex or don’t have the time to follow the market. It is useful for both beginners and experienced traders - For beginners, the biggest advantage obviously is the ability to choose tested methods and strategies of successful traders. It is extremely useful also for traders who are still building their confidence in the market, though even experienced traders can benefit from this type of strategy.
The auto trading system is (unlike most of the forum members’ opinions :slight_smile: ) useful to experienced traders as well - Traders can open and close trades manually at any time of the day.
Other advantages that apply for all kinds of traders -
The traders do not need to be tied to watching the market all hours of the day. If a shift in a currency trend occurs and you are not able to buy or sell at that time, auto trading will make the trade for you.
A second important advantage of auto trading is that players have less of a chance of closing their trade due to emotion. A common problem encountered by traders is the fear of taking risks and losing money. Because auto trading follows a set strategy, this problem diminishes.
In conclusion…If you are looking to start auto trading (I obviously recommend starting with a demo account) you can google and find systems such as the FSS (Forex system selctor), FXDD auto trader etc…

Good luck! (And looking forward to all of your comments :))

Mirror Man

Question: Without a quaility/sound foundation of knowledge in forex how is a newbie going to know what is what in forex? (That is to say any trader can put up what appears to be a successful website and scam newbies all day long.)

Question: What happens when the market dynamics change and the autorader is no longer valid, and the newbie does not have the knowledge to take control of his money, where is he then?

However armed with knowledge they can discern what is and is what is NOT a good Autotrader, and manually take control when need be.

Most newbies are allured by the get rich quick mentality and are unaware of all of the trappings in forex, and the time it takes to acquire a successfull system built around their personality for themselves.

Any newbie can do what they want, how they want and or whatever. If a newbie wants to go to autotrader land without good sound knowledge in forex, then i say get after it. There is always someone on the other side of the trade waiting to take your money! Might be me someday, but that day will be when i have a good foundation in forex!!!:p:p:p

It is true, as you said, that any trader can put what appears to be a successful website. However, reviews are the name of the game, of course along with empirical evidence and user experience.
As stated by the Daily Forex article (…A Scam or A Gold Mine), with implications suitable for any other money investment - check one’s offer/product. Don’t jump on it, neither disqualify it without firmly acknowledging.
Forex speaking, the [U][B]‘open demo account’[/B][/U] option (as featured in the above examples I wrote) is highly recommended of getting a feeling about the auto-trading.
Furthermore, a serious automated trading company would offer the knowledge as well as the technology (24 hour support on IM email and phone, inside-the-software built in information, EA performance and top EA’s etc).

[B]It is important to remember that you do choose to auto trade, but not auto choosing - knowledge is out there![/B]

As for the second question, auto trading demands more than most of ordinary jobs - professionalism!
The auto traders are being selected by strict terms - experience, knowledge, reviews and of course, being tested for 3-6 months before integrated to a platform. Even after integrated, if a malfunction is found - they are departed.
Their strategies are dynamic ones, respectively with the market’s fluctuation, being able to change and adjust their algorithms.
So, a problem as you presented is barely happening (statistically). And as stated before, knowledge doesn’t contradict auto trading.

And whatever is your decision, always ask and check! :slight_smile:

Hope I was an aid. Keep up the great questions! :slight_smile: