How to Make Money with Forex Robots

#1

This thread is to answer questions and share how to win with Forex robots. Because the truth is most people lose or end up with systems that just don’t work.

A little background first, I’ve been in this industry for about 12 years and have helped a lot of people make money over the years from automated trading.

And have helped bring to market some of the most popular systems that you’ve probably heard of.

Now - I still offer systems under one brand. But that’s not important right now.

What I created this thread for is to discuss how to win with systems - as there’s a reason people lose. How to spot garbage. Some systems are right for some, some not others. And to discuss any of my systems if they happen to come up in topic.

To start - one piece of advice. If you use a small account such as $200 and blow it. It doesn’t necessarily mean the system is bad or it has “high DD”, it’s because you are using a tiny account usually and doesn’t give you much headway.

But one intelligent way to manage this is…

Assume this is a high risk account. And as soon as you can get to a reasonable profit, pull out as much as your deposit as possible and start trading with “house” money.

There are plenty of excellent automated robots out there and plenty of garbage. You have to be careful, test, and you can make money. It’s possible. I’ve done it, and have seen many customers do it.

I’ve also seen people blow accounts - many over the years. So I’ve seen it all and happy to chat about it here!

#2

Do you have an Ichimoku robot? If not, why?

#3

Yes, I have released an Ichimoku Robot before, a few years back. Haven’t released one recently. It did well for a long time too. There’s so many possible strategies, millions of combinations, and styles of trading… breakout , swing, scalping, arbitrage, etc. I’ve launched many over the years that fit different styles, but of course it’s possible to miss some in the process - and I’m always open to trying to design, test, and find new methods that we haven’t used.

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#4

I don’t depend on robots that much. I like to make my own decisions in the market and that’s what I like the most about trading.

#5

What is the most successful strategy you have developed/coded, which clients consistently profit from?

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#6

When you are trading manually, you make your trading decisions on your own after market analysis. But when you use forex robots to trade on your behalf, you are letting pre-programmed robots to trade for you. And no one can tell how much profitable your robot is until you let it perform a few trades for you.

#7

Below are only my opinions:

  1. If you trade manually with discretionary system - your results and consistency is much harder to manage than using strict, rule based system.
  2. If you trade manually with strict, rule based system - you should be able to automate it.
  3. Proper backtesting can give a fair idea on how given automated strategy would perform in different market environment (without making any actual trades)
  4. I would never trade an automated strategy without knowing in and out how it works. In other words - I don’t trust other coders and closed source robots to sell (you can learn a lot by coding multiple strategies and test/optimize them) Robot should realize your strategy, not to be just black box which shots trades :slight_smile:
#8

i found you need to get your initial investment out as soon as possible, make your bank safe and work on small consistent growth and long term gain with out trying to make millions in 5 mins

#10

@scrandhorse Robots aren’t for everyone. Some people it’s a good fit others it’s not. Just like anything in life. The beauty of choices.

@Trendswithbenefits Over the years we’ve developed many successful strategies, some have stood the test of time and some have not. I’d say right one that’s doing great for our clients is a system called LeapFX Trade Explorer. And it’s been going strong for many years, and also historically tests back over a decade successfully. There’s some others as well, but the feedback we are getting on this one has been beyond fantastic.

@berktask Of course this is why some people prefer to test on small accounts or using a demo account first to better understand the system and decide if it’s right for them or not.

@wilczasty I agree completely, it’s important to understand the system you are trading with so you can manage your risk properly. This is what back testing, demo trading, small live accounts are for.

@pezza55 You are 100% right on the money. Forex is a game of leverage. No such thing as complete risk less trading. The risk is higher because of leverage, but the reward is higher. Using pockets to protect your money is best. Multiple accounts, taking out gains over time - so that you are eventually working with all profits is the best way to play. Greed is not your friend in Forex. And those racing to a million in 5 minutes, they always end up being the ones that think everything is a scam because they chase unicorn systems when real genuine systems that work are right in front of them ( I’ve met a lot of people like that over the years ).