Automatic trading robots?

Hello everyone,

i’ve been hearing from some forex traders that there are automatic trading roborts that can trade for one, in his/her absence. Is this true and how well does it work?Pls, i need your prompt advice as i’m about to put down some to purchase the softwares. Thanks

You are talking of “managed accounts” I have not checked into this too much but I hear both good and bad about it

Dont waste your money on them. Some of them may work for a month or two but they all eventually fail.

no i’m talking of softwares installed on your trading platform that trades for you automatically when you’re not on desk!

MT4 software has this option but I have not tryed it. I think that if you goto they will help you write your own script. But once again I have not tryed this.

Thanks so much!

TradeStation has always been a “professional level” trading platform for stocks. They now support Forex too directly within the same platform.

Its an amazing platform but has a bit of a steep learning curve. One of its strengths is to do automated trading based on your trading plan. It comes with a full language you can use to code it. The other neat feature is your ability to back test your strategy on historic data.

Disclaimer: I haven’t used tradestation for forex yet. I’ve used it for Stocks and will be doing Forex with it in the coming weeks.

MT4 Platform’s Expert Advisor can be programmed to work like a ‘Robot’.
Its true that these so-called ‘robots’ exist but after trying to build one myself, I think its not worth it to spend effort to build one. I found them inferior compared to a human managed trading system. However, building one for gathering entry/exit signals or as your own custom indicator sounds good to me.

If you dont like building them, you can always buy them but I think they’re not worth it, unless you can really get one that can think like a human i.e. it can adapt to trending, non-trending, different volatility conditions of the market., etc.

VT Trader offers “automated trading.” However, I don’t like it nor do I trust it.

Ah …So! …Trading robots eh !

Man, have you people got problems !!! :eek:

How much do you want to pay your robot. Will you feed it? And what does it eat anyway.

Cat food and dog food can be found in the food store but robot food ?

And what if your robot wants a pay rise. How do you know he won’t beat you up?

The robot might get a reproductive urge and you will find yourself with baby robots. What now? :eek: Who will teach them.

It gets really dangerous when your robots start a protest march demanding equal rights for robots ! :D:D

  1. A robot may not injure the capital or, through inaction, allow a trade to come to harm.
    2. A robot must obey orders given to it by the trade except where such orders would conflict with the First Law.
    3. A robot must protect its own existence as long as such protection does not conflict with the First or Second Law. :cool: :smiley: