Robots

Trading Systems
1

Robots for swing
Has anyone had a good experience with an automated trading robot? I’m just wondering how
Risky they are and how well they work alone?

2

Never used them

I think they’re better for scalping and day trading.

Swing trading doesn’t need robots as you can to a degree ‘set it and forget it’ and periodically check your positions and manage your stops etc.

I am however looking into an EA that manages positions and stops - ie, if position reaches x amount of pips move stop to breakeven.

3

thanks very much

4

There are a huge amount of robots out there, & although most are far from profitable, some do have some success. There are some discussions on this forum about robots that traders have been using & their experience with them. Have a look. If nothing else, it’ll at least give you some idea of a different facet of trading…

5

Thanks as always
People keep telling me to get my own style of trading, after lookibg at this for a month or so
To decide the next learning curve I’ve decided on the following,

Trend - trend lines
Support and resistance - candle and fib
Indicators - candles formation and say MAc d

trading type ??

6

As always, my pleasure :slight_smile:

Trend lines, SR, Candles - they are some of the most basic & important tools of the trade. If you master them - effectively - trading will become more effective for you. As for the style, don’t worry about it now. Trade whatever system you come across - try them all. Only after you have tried the different ways of trading will you get some perspective on what works for you. You can start with any style you want - just choose one you like the sound of. Starting is the important factor here - the sooner you start, the sooner you can learn about what works for you.

7

The training firm was reccomended to me. Their offering me some basic days
Trading courses for 50 a day.
As for the next step I agree that trial and error ( allbeit small error) is the next step. I’m thinking
Of a mini account with a couple of pence per trade to start. Only then can I practice the
Stop losses and going into trades with my take on the entry and exit points and my
Trend analasis.

Can you recomend a good broker for a small mini account that will also let me scalp

Thanks as always

8

Hope your training goes well.
The trial & error with a mini account is a prudent way forward. As for a good broker, I have yet to find one that is perfect. I personally use Forex.com at the moment - they offer MT4 & has mini accounts. But maybe the best way of choosing your own would be to register demo accounts with the brokers you think you might go with, & then depending on your experience, decide on which one to open a live account with. A good idea - taking into account the fact that you are going to test the new account on a trial & error basis - might be to look for a broker who’ll offer you bonus. That way you can limit your your risk capital even more.
Hope that helps :slight_smile:

9

no they don’t work.