Automatic Trading Systems have many followers and many detractors. While many are happy with the performance of their robots, many others say that no automated system can generate long-term gains.
But the only truth is that the automated system if you generate good profits, you might wonder now why some investors say they are not doing very well, is easy ... what happens is that the vast majority of Investors who have tried the automated system, have tried the free, and no success has spread the belief that these systems do not work well.

The only one I can vouche for even though it made a big loss that I had to manually recoup is MegaDroid. I am using a BIG risk % though so it explains why the loss was so big, but it's consistently won over and over for numerous people. 95% win rate they claim seems to be truth.

No robot is any miracle worker, you have to make your own strategies and look for results your self…
It is YOUR money on the line; you must know and understand how it is being trade. You have to take responsibility….

Share your opinion about the software (robots). The high volatility in the foreign exchange market has led to the current statistics with those who work the software are no longer effective in their predictions. The best thing is and will always gain experience personally.

A lot of people have startegies that aren't based on news or economy or anything else like that, but indicators of market movement etc etc. Since that is the case if they have a good trading strategy that has a good win rate, they can then code that strategy into an automated process. The only problem that comes with that is if the bot isn't coded properly, their strategy doesn't work no matter the market conditions, or whatever. But any sort of strategy can be coded into a bot.

whether a system is automated or not does not matter ... its the strategy that counts. most manual traders have a set of rules that the follow before entering a trade. if those rules can be programmed in a robot ... it becomes automated. i have yet to see a reasonable manual trading strategy with 100% accuracy. .... I say reasonable because technically you can have a trade open in draw down if there is no SL set and if your equity can handle it it will eventually close in profit. so basically i am a believer of automated systems .... if i can make 10-20%/month consistently with an automated system i am more than satisfied. manual trading would have to be 30-40%/month ... and i am still not there yet.

If you have a robot or an EA with a very good strategy, the sky is your limit. I do really encourage the use of EAs but I must add that they must be good ones.

If your strategy is good then you can write your own EA yourself.

Happy trading!

The robot or an EA is also good for a newbie, because why you are learning, working out your own trading strategy, they can earn you some money with your opened account. Most of EA are needed some tweaks, in any case the are helpful than not.

I've used Forex Funnel, Forex Autopilot, and Forex Tracer in real accounts and lost everything on all three. Each one was in profit for a short period but instead of taking out the profits I let them ride and ended up losing everything. The other posters are correct; EAs can work but you have to tweak the settings. I think that's the problem I had. I am looking for new EAs to try, hopefully ones with guides for settings. The amount of your deposit is a big factor. Settings for $5000 should be different than settings for $500. The trick is figuring out what they should be.

Too bad that you had lost everything I assume that you haven't lost a hope to find decent EA. All I have figured out, that MegaDroid and FAP Turbo are most reliable. A lot of people are posting here their results, so probably they are really not so bad.

Robot EAs are excellent if they are written according to the current trend. No robots can adapt to all trends and that calls for HUMAN intervention...

Try to get 1 for uptrend, 1 for downtrend and 1 for rangebound....and learn to identify all 3 trends...

Then deploy your robots accordingly....I guarantee your profits will fly...

There is no way we can execute our trades better than a robot...A robot only failed when the trend changes....

This is due to our pathetic emotions when come to trading...SHOULD I ...SHOULD I NOT...WHAT IF...WHAT ELSE...HOW COME....arrrggg

Cheers!
Jean

What you have stated is the exact problem, to get to the point where you can identify if the market will go up, down or sideways takes time in the market and once you get there you don't need a robot!

What new people need is to adjust there thinking, they need to find a robot that is very fussy and that only takes high probability trades. (Which means i'm sorry but they are very boring and may go weeks with 1 trade but they run at high accuracy which means over time you make money.)

The problem is that most people fall for the big flashy sales page, when i read them i just laugh, even MegaDroids sales page is just way over the top.

Just my thoughts.

GP

Hi I work with a robot call Forexmegatrion, and I have great results, I will try to post my results live, so you can see what I am doing with the robot. I also had learn about trading systems, and receive weekly webinars so if the robot at some point gets crazy I know what to do and how to stop loosing money, but until now it has work pretty good.

What about FAP Turbo? How you can fund your account and how you can withdraw? Do they pay to a bank account or virtual account like clickbank or so?

Thanx

Hello

I've been using signals from a site called Forecasttrader you can both auto trade or use their signals in addition with your own strategy.

The signals they provide seem to be very accurate, fx. I've made 570 pips with them last week on my demo account and am up 450 pips already this week on my real account.

I would recommend this service to everyone, they even offer free trial for 5 days.

You find their site via the URL in my signature.

Peace.

I think that automated systems such as expert advisors can really make money. They can be programmed to trade almost exactly like a human trader, that is if the programmer is very skilled. It seems to me that the guys that create these systems use very basic indicators and then have them trade during the asian session when there is not a lot of volatility. This seems to work, however I wonder what happens when too many traders are using a system during low volume hours. Is it possible that this may cause a system to fail when there are too many users? It seems to me that a lot of slippage would start to occur.