I’M about to buy a robot but was wandering which ones people have tried? I’ve tried a few sites but don’t really trust them I’ve bin trading for about two years now but havnt got the time no more due to business problems so thought a robot would be perfect help if possible
99% of them are garbage and that is an optimistic number because I don’t know which are in the 1%. These robot vendors are reaching out to the people who have the belief that there is some near miraculous way to make money with little effort or skill on their behalf. In many ways they remind me of the baldness cures you used to see advertised. Again they were trying to cater to people who had the belief that there must be some hope for them.
By the way, it seems that I don’t see as many ads for baldness cures as I used to. I wonder, perhaps they are trying to sell Forex robots now.
Some of the tricks they use to hype their results are using high risk strategies that work for while and then fail and wipe out the accounts. A Risk to Reward ratio of 10:1 or higher with a 90% win rate is a sure sign. Others post results like 250 straight winners - what they don’t tell you about are the 5 or 10 unrealized losers that are deep in the red. They only count realized gains.
Enough negativity. Check this guy’s blog before buying. Also check out Forex Peace Army, although its integrity is questionable.
Mechanical Forex
I wouldn’t recommend buying any robot unless you know exactly how it is trading and has been backtested for at least 10 years. Otherwise you won’t understand the ups and downs and will start second guessing the system.
If you have business problems, take care of that first. Trading is very psychological and you will fail if you HAVE to make money now.
Thanks for your input ha don’t think the robots are such a good idea now ha
If it sounds too good to be true, then it most likely is. Save your money and spend it on better things.
Take my advice: No Robots. Instead think about managed accounts.
Most robots you can buy are not bots. Them are scams. If this bot is successful, why would the creator sell it? This is a contradiction in itself.
Yes it is, and even if the creator for some reason would want to sell it, why not sell it to a hedge fund for millions or a share of the profits instead of trying to get trader joe to pay up a few measly $ for it…
Very right. Good point! 
Robots are garbage. Most of them are just scam.
When you say robots are scam, which ones have you tried? or have your friends tried them?