Forex Robots is a SCAM?

[NorwoodFX]

@parsifal23

Go to “Forexpeacearmy.com” and check their EA-Performance page. These guys are REALLY independent and their information is reliable, also about Brokers and many many other stuff

You mean that place where failed traders reside, and blame anything or anyone Forex-related for their own mistakes?

[Forexlight]

Yeah bro, it could be surprising but scam robots are all scattered about the forex, unsuspecting bugged automated trading. I am even shocked that some of the big boys licensed brokers well enlisted in the NYSE register still have evil robots. Can you believe a licensed broker can make a robot appear so optimized with positive backtests yet they are practically evil schemes. Have we forgotten the HiRider and forex shocker scam robots. Its funny but some of this licensed brokers are a disgrace to regulatory bodies. hxxp://depositfiles.com/en/files/tgh5n8d95

[ixs]

Most robots, if not all, are designed to make money for the creators and not for the users. Forget about them and learn how to trade.

what he said. If there was such a thing like the perfect forex robot everyone would want it and those tens of thousands of traders would definitely know about it.
You can not write an a.i. in mql, you could get a system that works on calm markets under certain conditions i suppose but i stick with <-- what he said

[parsifal23]

You mean that place where failed traders reside, and blame anything or anyone Forex-related for their own mistakes?

Of course that´s true for some of the members, but definetely not my point: I´m talking about their moderators and Senior-members who helped many victims of fraud to get their money back, OR blacklist the corresponding Broker.
Too many advantages and a few dislikes, yes !

[Nowaishy]

Its kind of a late reply to this thread, but personally I have tried many robots/EAs and what I have observed and learned is that forex robots is not a scam at all or at least a few of them that really works, however what I have realized in the past 4 years of trading that any robot/EA needs human intervention to keep an eye on its performance and to monitor its actions, due to news releases and changing market conditions, if anyone is having the psychological trading stamina to be patient & work along with these robots he/she will be successful on the long term.

To sum up, any robot needs a trader working along with it to be really profitable and successful, otherwise fully automated robots working alone will fail sooner or later due to variable changing market conditions.

Thanks

Nowaishy

[trend110265]

it is not scam

high frequency trading is robot and wallstreet have a lot of trader high frequency

[emeraldorc]

HFT critics are finally on Babypips.

I hate HFT’s because they rig the game and make trading rigged and for the most part easy for the big players and the ordinary investor or speculators is always challenged. Hence the rush for space around the exchanges.

That said even big players like Goldman Sachs are now complaining about HFT’s and want execution speeds limited.

Speculators I don’t think can be profitable with HFT since you just don’t have the execution speed to make those pips really account. I think it is laziness if a small speculator turns to robots.

[mihk]

HFT can be tricky only if you are a ultra mega trader on a 1 min chart and have a scalping in progress. This subject is so corner case that I personally don’t care about it.

[Leg0nd]

[QUOTE=“emeraldorc;617111”]HFT critics are finally on Babypips. I hate HFT’s because they rig the game and make trading rigged and for the most part easy for the big players and the ordinary investor or speculators is always challenged. Hence the rush for space around the exchanges. That said even big players like Goldman Sachs are now complaining about HFT’s and want execution speeds limited. Speculators I don’t think can be profitable with HFT since you just don’t have the execution speed to make those pips really account. I think it is laziness if a small speculator turns to robots.[/QUOTE]

HFT’s do not rig the market. The majority of the activity they produce occurs in less than a nano second time frame. Completely invisible to the human eye (minus the flash crashes and “black swans”). Besides HFT is dying on wall street. When nowadays almost everyone (big players) have HFT the competitive edge they have (time) is eliminated, thus destroying their edge. I watched an informative video about this on YouTube. It goes into great detail about the inner workings of these bots. Will post it if I can find it.

[tocyna]

can you develop one for me?

Personally I think one should try to trade profitably first & then consider whether it is possible to automate their profitable trading strategy depending whether it is mechanical or discretionary.

I do develop my own EA’s & truth be told, I personally would not trust my hard-earned money with someone else’s Bots!

But that’s just me.

[DenForex]

In order to the robot work, you need himself program the robot. And after that, test it on a demo. And only then, can be to rely on the robot.

[forexcrisp]

If its not a scam then why don’t we see millionaires using them to become billionaires?

[Barryform]

Well said! But the robot - it’s like a simulator for training. When you earn a million do not you already have to trade on the simulator.

[Pabebeboy]

well, robots are not scam, they are just not advisable to use for profitable trading. Better do it on your own. At least you can monitor your trades.

[Nelson505]

I agree with you

[basilisklavey]

All forex robots are not scams. It means that if you are planning to use a trading robot, make sure that you find a robot that caters to your trading requirements. You can try out different robots in the market. If none of them suits your requirements, you can build your own.

[jessoprules]

I agree. I use a bot and have more than doubled my account so now am risk free.