Hi, if someone is new to forex Trading would a low risk robot, which is easy to understand - to advanced for a beginner?
Me either, I have tried many robots and they failed! One robot did not even had a stop los 
That’s why I have created a robot based on my manual strategy (breakout & pullback) with low risk setting eg you could enter 0.5% risk per trade so there is no risk in blowing up your account, that’s just 1 of the of the many input it has… to me trading with a robot helps me a lot !
Not found a profitable (long term) bot yet
I personally let my robot place trades including risk management and do my own analysis as well and close trades in profit manually. And 1 Robot let it just run …
Robots only work if YOU have a plan and a strategy. Many traders who lose their money lose it because they decide to make profit by using robots. They don’t care about the strategy on which the robot is built. If they did, they would realize that the strategy is crap. Secondly, some people get impressed by the optimistic back test results from these robots and assign standard lots on their small accounts with no regard for money management. Combining lack of knowledge about EA’s strategy and poor risk management skills leads to disaster.
1 Like
I’m not a big fan of forex robots either. 
Although of course it’s suuuper tempting to have them run your trades for you at push button 
I feel like forex can be a little too dynamic for them to keep up all the time? 
UNLESS it’s a super advanced and expensive (!!) robot.
free_magic_reliable_money.exe
there is no such thing.
Even the expensive ones are just designed to appeal to novice traders rather than to make any profit in the long term. Unfortunately, some people confuse “automatic” with “profitable“.
I think as a beginner I don’t prefer bots. It would be better if you do manual trading and see the outcomes.
That’s what I thought at the beginning but now I wish I had a bot because you can actually learn from if you have a good one, it can save a lot of time, energy and money! It’s just my option
I never used their automated trading option, I guess it only works on their broker ? I only use MT4/5 Platform and using my own developed robot …
Makes sense !
I have a range of robots to execute the range of strategies I’m looking at trading. My robots will only place 1 trade into play. They set stop loss and take profit and can automatically manage as moves into profit by closing part orders and moving stop then finally set trailing stop. All the settings I can adjust. I wouldn’t risk my money with a black box robot that I don’t understand how it trades.
Most bots are terrible… but there are some okay ones out there.
But finding the ones that work - that’s the tricky part.
Robots are great if you crafted them yourself. It’s very important to understand underlying idea behind trading algorithm, because without that you won’t be able to improve performance of your bot. I have some robots on Hotforex and Tickmill running during Asian session, they catch some pattern on JPY but I could make them profitable only after 3 months of adjustments according to LESSONS that the market gave me
Sounds good! Of course you risk money with a robot you don’t understand but that is why you should test the robot first !
I would advise beginners not to work with robots, and try working manually. So the results will be more real, and it will be possible to better understand the market.
sometimes i feel the result from trading robot its all about short time trading approach , it cant be a permanent something.