Automated forex robotics

Hello Everyone,
How far automated forex robotic is good in forex market?
I think that it is good to use robotics instead of sitting 24/7 in front of system doing manual trading. What do you think is it good or not?

  1. No, robots are a scam.

  2. If you are so lazy you think you are going to get a robot to make you rich trading is not for you.

  3. If english is your first language then you are not intelligent enough to trade and should go work at McDonalds. (Sorry post with horrible grammer asking serious trading questions are my pet peeve)

that was a bit harsh

did u know niels bohr was dislecksick (no pun intended if spelled wrong , im not a native english speaker )

That has nothing to do with intelligence. Sorry, but I find posts like this first one laughable. The poster is either to lazy or to stupid to post something that doesn’t sound like it was written by a child, an uneducated child. Yet, they want to trade. Give me a break. That is why I asked if it was her first language.

Also, her first question is if there is something that can do all the work for her. So, we already know she’s lazy. I wanted to know if English was her first language. If so, well, she’s stupd and lazy and definately shouldn’t even consider being a trader.


I think you are one of the most intelligent traders here on Babypips, and I have great respect for you, but I have to say that your comments where both rude and uncalled for!

In my opinion, any new trader that [I]doesn[/I]'t investigate automated robots is an idiot!! Trying to find the easiest way to do something is not lazy at all! Was the inventor of the automobile lazy because he didn’t want to walk? Or was the inventor of the calculator lazy because he didn’t want to do math on paper any longer?? Or are forex traders lazy because they want to make more money with less effort, instead of holding a “real” job.

You and I both know robots are a scam, but how do we know that? Because we researched them, maybe even tested a few out, and saw it for ourselves.

Rosy is simply a new trader going through the same discovery process, and there is absolutely nothing wrong with that!! Despite that, this is not only a new trader website, but the new trader sub-forum on a new trader website. As such there are no stupid questions here!

As for the language issue, it reminds me of myself back when I was in graduate school. My particular area of research required me to converse with people in French on many occasions. My French, pardon the term, sucks! I was supposed to be a scholar conducting research for a master’s thesis, but I’m sure I sounded like a stupid child who should leave the university and “go work at McDonalds.”

99% of the forex forums, and information, on the internet is in English. If English is not your first language you are already at a disadvantage when it comes to learning forex, so I have great respect for people that try their best and continue to ask questions. After all, if all the forums were in Chinese we would be the ones that looked like uneducated idiots!

And yes, you did ask her if English was her first language, but you didn’t even wait for a response before insulting her.

I can understand your frustration. It’s the reason I disappeared from Babypips for so many months and only recently came back. Dealing with newbies, especially ones that won’t listen, is extremely frustrating and can take a toll on you. However, we all need to practice patience with the new traders until they prove themselves to be too thickheaded to learn… Then we can insult them :smiley:

We were all newbies at one point or another. I remember a conversation with a new trader last year that damn near drove me crazy. He couldn’t understand the simple concept of leverage. Took me days to get him to understand. His name was ThePhoenix.

[B]To Rosy:[/B] When I first started trading I did a lot of reseaching into forex robots. I can tell you, without a doubt, they are a scam. They may work for a short period of time, but they will lose your money in the long run.

phil838, well said!

(Although I don’t share your point of view on robots:p)

Mind telling us your experience with them? I’ve had nothing but bad results, but I’m always willing to hear what others have to say.

A logical discussion of their profitability is exactly what Rosy needs to hear to get her answer.

Also, just to clarify, by robots I’m talking about the “turn it on and forget it” type robots such as FAPTurbo. Metatrader EA’s can be a useful tool, but that’s not what I think of when I hear the term “robot.”

I think bots are no more than a phase in the traders journey, along with signal services. I have gone through those phases and got over them a few months ago. the next phase is making your own system and dealing with discipline and money management. i thing about it as starting from -2 when you get to 0 thats when you get over bots and signals then start learning to trade on your own. feel free to disagree that how i look at it :slight_smile:

Being a newbie to this I don’t have much experience with the forex market let alone the bots, but through all the reading and my own way of doing things I just couldn’t trust a bot to handle my money in a constantly changing market. I’d rather put the time in and sit in front of a computer for several hours a day and make money rather than depend on an automated system.

Again, I don’t have any experience with bots but so far I’m not really interested in seeing how things would go with them.

I think that is an excellent point, Jado. I went through those phases as well. After that I tried to hunt down the perfect indicator, or combination of indicators, that would make me a million dollars without having to learn to call the trades myself. I never found them…

It’s only natural to try the easy things first. Then if they fail you move on… It’s just human nature.

Like many people I had no financial background when I started, and no training in economics. I was a recent college graduate that majored in religion and anthropology, and I had no clue about anything finance related. But the one thing I did learn is college was the scientific method! It’s only logical to test the easy things first, so I started with robots and signal services.

After they failed I kept at it because I knew there had to be a way to make money trading. Eventually I learned to trade properly, and I’ve been making money ever sense. But I never would have gotten there without failing in the beginning.

Yes, you are right I was rude and posted out of contempt for posts like hers. The post like the first one sets me off for some reason. I happened to get up on the wrong side of the bed, so to speak. When I happened upon her post something snapped, lol.

I will say this however. Some people are just not swift enough and or too lazy to trade, and making them realize that would actually be a service to them.

Not that you have to be a genious, but if someone isn’t intelligent enough to post coherantly in their native toungue I would lay odds they don’t have the mental focus and self disipline it takes to be a profitable trader. That said, that is why I asked if English was her first language. In a rude way, I guess I was telling her this isn’t her game if that was the case.

I agree. A lot of people come here either wanting a handout or thinking trading is easy. It drives me insane as well.

I do think we need to make them realize trading isn’t for them if they don’t want to do the work, but no matter how frustrating it is we still need to do it nicely. :smiley:

we have the brokers to blame for making forex sound easy, keep that in mind :stuck_out_tongue:

Good point. It’s been a while since I looked at the Babypip’s school, but if the definition of market makers and an explanation of how broker’s make money when you lose isn’t in there it should be!!

I agree that Robots do not work, there is a lot more to trading then turning on an EA. But, I am lost as to how signal services are a “scam”. Now I’ve tried a couple signal services and was not impressed, but I’ve just assumed that they were bad services. If you take a successful [I]swing[/I] trader, who posts his trade the minute after he gets in, and then also posts his exit the minute after he takes it, and one mimics these trades to the best of his/her ability, why wouldn’t this be effective trading?

Of course, maybe I’m just a sucker for simplicity, but I’d love to hear your guys feedback.

It’s our fault you’re confused. I, and I believe everybody else here (please correct me if I’m wrong), meant to say that [B][I]paid [/I][/B]signal services are a scam.

There are a ton of signals that are offered as a service to the forex community, with nothing asked in return. These, while they can often be bad signals, aren’t scams.

Paid signals, on the other hand, are 90% scams. The reason is obvious. If the signals work then why waste the time and effort building a business around selling them? It’s so much less work to just get rich off your own signals…

Makes perfect sense, thanks for clearing that up for me.

You misspelled genius, genious… and coherantly (coherently) and disipline (discipline)…, grammar’s a bit primitive too… Is good English a prerequisite to good trading? I hope not. Also, I hope there aren’t too many more like you on this site. Verbally assaulting people who are new is a gargantuan display of a lack of grace. Bode’s ill, I’d say for future success for you as a trader or even a person.

I’d also say a public apology to Rosy is in order.


ThePhoenix is highly respected and one of the most helpful traders here on Babypips. He was just having a bad day, like we all do sometimes. Please don’t judge him or our forum on this one incident, we’re usually pretty nice to newbies!

Hi phil,

Mind telling us your experience with them? I’ve had nothing but bad results, but I’m always willing to hear what others have to say.

Phil, I must say I am hesitant to post here, lest I unleash the wrath of the phoenix…Silmaril, makes a good point and I suspect from the tone of your response that you do not entirely disagree.

Anyway, I think that sentiment here is against robots and I have nothing to prove, so I have no intention of getting into an argument about robots.

Some-one mentioned a journey and my journey has been 8 months of hell, specifically specialising in automated trading. I probably spend 10 times more time in front of my computer than the average manual trader, but I view that as leveraging my future time. I feel that I have turned the corner now(last 6 weeks have been profitable) and I look forward to profitable trading in the future…however, time will tell.

I would be interested to hear how much time and effort other people have put into studying automated trading?

I have yet to understand why a rule based system such as technical trading will not work on a computer. What intangible and uncodeable element is it that you look at when you trade? Do you trade on emotions or instinct because the computer can’t use these?

Also I think automated trading will take a big leap forward when Metaquotes releases the MT5 platform. There are just too many technological limitations at the moment(eg inability to backtest multi-timeframe EA’s).

As too it being a scam, well, suffice to say that 95% of traders lose their money…does that make trading a scam? Nope…it is simply a field that does not tolerate fools or people that lack dedication and discipline. Sure automated trading dreams lends itself to the scam artists, but that does not invalidate the concept.