Has anyone around here had any experience with this robot? I have purchased it recently and so far have been quite dissappointed with it’s performance and with the lack of support I am getting with learning how to use it. I have a demo account I have the robot installed on and I was hoping that I could do some successful paper trading with it before getting a “live” account, but I don’t know. I haven’t even gotten much success using it with paper trading. Actually, I’m not really sure if I am using it correctly or not.
Can anyone help me to understand how a robot works and what I can expect from it?
A bot is a program that takes a particular trading strategy and automates it - the program makes the trades for you, and you hope your account can handle the profits and losses.
I’m a computer programmer and have been trading forex since late 2004. I have traded live with both commercial and self-programmed bots, and without either. I trade mostly my own EAs (Expert Advisors - metatrader4) right now.
Having said that, I am really of the opinion that it’s not a good idea to do ANY automated trading until you have learned how to trade, can recognize a good trade setup in real time, and have had a reasonable string of profitable trades.
In addition, and this could just be the programmer in me, I think you’d be absolutely crazy to buy and use a bot if you don’t know how any of automation languages (Metatrader, ForexNinja, TradeStation, etc.) work. Even if you don’t change a single setting on a program like that (which I’d be scared of you if you didn’t), you still need to know enough of the nuts and bolts of what automates your trades.
If you know how to trade and are just looking for another steady, stable trading setup to your arsenal, you are technically savvy, and you have a good feel for how your account margins work, then a trading robot can be a viable addition to your income stream.
If you haven’t done a lot of real-time trading and you just want the program to do all the work for you, then a bot isn’t a very good idea.
And, I guess I don’t have to tell you to Demo, Demo, Demo…
In addition, and this could just be the programmer in me, I think you’d be absolutely crazy to buy and use a bot if you don’t know how any of automation languages (Metatrader, ForexNinja, TradeStation, etc.) work. Even if you don’t change a single setting on a program like that (which I’d be scared of you if you didn’t), you still need to know enough of the nuts and bolts of what automates your trades.
I can see understanding the settings but you don’t need to know how to code. bulletproof’s code will not be available to you anyway.
First absolutely return forex bulletproof. open the receipt you got from clickbank and open a support ticket. In there you will be able to select refund from a drop down menu. Don’t bother with a refund request from the vendor. Clickbank will handle it for you and it will be much faster. Trust me get your money back!
Second go to school!!! Forex Training Online: Learn Foreign Exchange (FX) Currency Trading
Its completely free and an excellent starting point. You must know at least the very basics to trading and if you want to be successful than I would advise you that babypips.com school is only the very beginning of your training. You should continue for the rest of your career to learn and grow. Commit to this! 95% of retail traders never find success.
Third, this site is not very “expert advisor” friendly. You will notice the consensus is that ea’s cannot succeed. Personally I think they are crazy for saying that. In one hand they say you must have a rule based system and in the other algorithmic trading cannot succeed??? Seriously its just propaganda. A very significant amount of professional traders use expert advisors or a rule based system. So my advice is if you wish to learn about automated trading learn from people who love it. you could check out donnaforex.com it is a forum that attracts a lot of automated traders. A more confusing and more technical forum would be forextsd.com You will be lost there so I would skip that for now.
Just my opinion here. Your trading will take you in many directions before you find your style.
