The only person who makes money with a Trading Robot is the one that’s selling it.
I read it on twitter. Do you share a similar viewpoint?
No, I know someone who sell good EA’s, but he closed his shop because of low purchase number. Traders expect gazilion profit pips, real market doesn’t work like that.
yes, I do …
… as far as spot forex trading and EA’s are concerned
the reason is apparent: especially in these days of reliable funding companies, anyone who can trade successfully has access to funds to trade, and can keep 80-90% of their earnings, so why would someone with a robust EA that worked reliably want to sell multiple copies of it for a few hundred dollars each rather than making a fortune by trading a large funded account? that wouldn’t make sense, would it?
but that isn’t really trading, of course: it’s just betting against a counterparty on the price movements of their own product, not trading in a real, transparent market
for trading in real, transparent markets, of course, the situation’s totally different: many financial institutions lease “robots” (I.e. software), typically on a profit-sharing basis, to trade all the global financial markets, including currencies, and are employing teams of analysts on six-figure salaries to assess them - but these are obviously not EA’s sold online for a few hundred
for a very detailed (and actually very typical) example of one of these countless “robot leasing” arrangements, involving Credit Suisse, including the fascinating personal back-stories of the robot’s highly skilled, academic creators, i strongly recommend the book “The Predictors” by Thomas Bass: it’s a very, very interesting story that will interest any trader very much!
Personally I don’t have that much faith in robot trading and I think they are all fraud.
My pro friend who manages a hedge fund and my main account is certainly not fraudulent - quite the opposite in fact. His robot trading has been backtested for at least 20 years, and over this period of time he makes profits around 20% per annum.
Finding a book that appeals to our interests and offers insightful information is always interesting. I value your advice and will definitely think about adding it to my reading list.
I think so. But some of my friends told me that some reputable providers offer robust and transparent trading algorithms that can be used.