Does Forex Robot Really Work?

I am just wandering about the above topic because I saw a lot of Automated Forex Trading robot sold online. Has anyone actually uses them and make a decent profits? Please share if you are using one right now.

Their advertisement are very convincing showing people turning 4 figures account into 5 or 6 figures.

Sorry, they are all more or less scams. If one worked, it would either not be sold at all and they’d be making a goldmine with it themselves, or word would spread and it would sell like hotcakes.

The reason there are good reviews all over the place is because their are affilliates who will stop at nothing to try an earn a commsion. They will write false reviews and post at this site and others acting like it worked for them and try to slip in their affilliate link.

If you are interested in training skip over robots, save yourself the time and hassle and learn to trade yourself.

learn to trade by yourself.

the robot will take all the joy of trading and eventually will take all of your money.

if a machine can give you easy money everybody will be rich.

there´s no easy money man;) if you want it fight for it… and eventually you will get it

I like easy questions.

The answer is: no, they don’t work.

they function as programmed but that doesn’t mean they do what the programmer intended.
When one can pass the Turing test, then buy it. Untill then, the best software is between your ears…

isn’t it more of a hardware than software in between your ears?:stuck_out_tongue:


Its a pity the hardware and software doesnt come with a user manual. By the time most get around to trading their software has often been damaged beyond repair by virulent virus’s :smiley:

good points there.
Some say I’m sharp as a tack, unfortunately also twice as flat headed…

well speaking of robots and EAs, now that I’ve properly towed the party line, I will say that the nanningbob EA seems like an interesting concept! You’ll have to google it to find it. And it’s free too.

Also I did an interesting little experiment. I made a simple moving average cross over EA. As expected, it steadily lost pips. However when I reversed the buy / sell logic it started making pips, it went from 10000 up to about 50000 before turning around and heading back down again… things that make you go hmmm…

I know whats the problem, it is Simple( The EA is).
I had one like that then I started adding more conditions until it stopped trading period :stuck_out_tongue:

yeah, whether you eventually play around with EAs or not, you should learn to trade first. Anything worthwhile is worth some effort.

hmmm… seem like a lot negative feedback. :smiley: Looks like a lot you agree to learn to trade manually first before anything.

Yes indeed, robots are off no good. You end up only getting your account ripe off sooner or later.

It depends on the source. This is a software a snippet of code. There are trusted robots that you can make money with but first off thoroughly review to find the trading successes being made by that particular robot before settling on it.

I think that is very important, to review the robot before using it.
Other than that, it would be wise to consider other factors like the advantage and disadvantages of using a robot, to see which one out weighs the other. For instance it can be very expensive, there will be a huge investment even if you can program yourself.
You can read more here: How to Trade Forex: The Pros and Cons of Using an Expert Advisor (EA), to help you decide.

No. If robots actually worked, the forex, as a whole, would most likely collapse. It’s a zero sum game in the end. For someone to win, someone, SOMEWHERE, has to lose.