Does anybody use a robot that produces them constant profits over a long period of time ?
yes.
Be prepared to put in a lot of work though. It is not a shortcut.
Hi Goldylox,
Any specific EAs you have in mind?
That is the work part. Most are EA’s I developed.
Of ea’s i am currently testing Forex Robot from stevehopwoodforex.com is doing ok. It would be a good place to start.
here are my demo results.
Mt4-102507 Forex Robot System | Myfxbook
Some robots produce profit but I have doubt that these help to make constant profit for a long period of time. Even though what do you mean by “a long period of time”? Is it one month, six month or one year?
It just seems that new bots are coming out all the time.It seems like the older bots are out dated. If I buy an older bot is it a waste of time, must I spend $$$$$$ gaining and losing by trail and error…
How well do they perform over a course of a year.
If you are buying a robot from a stranger online, you probably will not fare well. But as far as Expert Advisors in general, it’s a great tool to use to automate your strategies.
My advice is create the strategy yourself and then automate it. If you need a place to start, check out this article: http://www.fxengineer.com/content/introduction-5-rules-building-successful-forex-trading-system-128/
true but I’ve also noticed that many traders manually intervene as well to smoothen market oportunities that the EA sometimes miss. i suppose thats the secret why most of zulu-traders are quite good.
Yes
EA can replace human work needed to trade manually and can calculate very precisely
But it works only on given logic.
If the EA has a profitable trading strategy it can make more profit than manual trading as it can work 24 hours a day 7 days a week.
Perhaps the issue with most commercial EA’s is that they use a complex strategy or the strategy is very convoluted so it is difficult for the average person to figure out exactly how the EA operates as then we could just reverse engineer it. Since it is too-complex it is a little overkill.
If we had a simple strategy that works manually, i don’t see why it would not work automated providing we programme the EA to do everything we do manually such as trading certain hows, not trading news, etc.
Now you are getting close to the truth.
The problem is not the EA, it is that most manual systems don’t work.
most people that trade a manual system profitably, break their own rules. EA’s don’t break any rules.
You should use an EA to test your manual system & don’t blame the EA if it fails. It is just giving you the cold hard facts.
Therefore most commercial EA’s are based on bad systems. The people making the EA’s know how to code, but they do not know how to trade profitably.
Cannot run totally EA. Still need to monitor and drop/add EA as you progress.
I must say that there are alot of manual systems that do work, its usually the lack of trading discipline and emotion that causes traders to fail.
This is why EA’s can the the chosen route of many, because their emotions are somewhat taken away from the control of the trading.
That said Greed and crazy risk settings on EA’s will still kill you.
Hi Goldylox,
Thanks for the Forex Robot reference, really good stuff. I’m currently testing Diet Coke’s version 6.1g_1
What FR version are you using on your a/c above?
Cheers!
V 5.2. An older one 
I have been doing a little bit of manual intervention.
Agree with Eddy. Human intervention is still necessary under harsh environment
Agree with nhasanbd EA does have an advantage of 24 hours trading against human.
Cool V5.2 was mentioned as quite a good one.
Actually, I ran both versions V5.2 and V6.1g simultaneously on a small live a/c to evaluate (v6.1 was also well mentioned in the forum). V5.2 required more manual intervention than V6.1g, so now i’m only running v6.1g, and it’s continuing nicely
Cheers!
So the ideal trading style lies somewhere in between - both manual and human 
or in my case - folloiwng the zulutraders