anybody use forex robots? do they really work, or are they a scam?

ROBOT TRADING IS GOOD IF YOU FIND A GOOD ONE AND IF YOU DO NOT HAVE TIME TO MANUAL TRADE.

theyre good but not as good as manual trading.
robot lack feelings and they definitely wont know when news gonna be release!

100% scam it is very simple and logical if these kind of programs really works than why don't these people use it by themself for their own good profit...

It is true that many times we see Forex Robots working miracles and never loosing any trades. but when in real practice it actually does not happens.

Hello Jet510,

When talking about robot trading, many forex traders have a common consensus. Maybe forex robot brings profitable outcome, but because it is just program, it is not able to adjust to changing circumstance. It has many disadvantages, if we compare it with manual trading. So, to improve the forex trading skills is vital for every trader. If you are a newbie and searching the useful books or materials about forex trading, I can recommend the site Profiforex.com to you. On this site, I believe you can find what you want about forex trading.

Well, I use my own Forex Robot and I name it "Forex Conqueror".. Still on Test, been 3 day only so far.. Hopefully result is good..

Here's the proof :

That's the problem with forex robots. There's no guarantee of success in every trades. Manual trading is still preferred by most traders.

Robots do not work without constant human intervention. Of course, the only prompt to intervene is when the results are bad. You have lost money at this stage. If someone tries to sell you a robot...run a mile...

I respectfully disagree.

Whoa, do you use forex robots? Would you mind naming few of the best used robots?

I'm trading EA since August 2011 up to now and I'm making good profit of my EA / forex robot that I personally developed.

I am using Altredo forex robots and the result is really good.

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http://www.altredo.com/

i have yet to find a promising robot for this year. Anyone can suggest me something?

I haven't yet started trading with robot, but I am going to learn it. I think that is a good possibility to trade more effective.

you can start with Altredo robot it is really profitable robot and also easy to use also they give full support for the clients.

Well my point of view is that yes there are many trade robots that do work. However be aware of how promising they are promoted to the potential buyer, especially the ones you have to purchase.

I have a basic knowledge of MQL and I am programming my own strategies into expert advisors. This way you benefit for getting more extra time and you are assured your strategies are followed by the book without the intervention of human judgement and thus they are as emotion-less as it gets which is a good thing of course.

In my opinion it would be quite easy actually if I wanted to exaggerate on the profits they are making. How could I do that? Very easily I could isolate certain periods in time where they do perform really well, make some nice screen shots and create a promotional campaign. Then put it over an internet website and attract your attention. Hopefully I would be successful in getting your money.

The same applies for every single indicator, oscillator or trading strategy. Simply put, there is no single strategy that works all the time. You can always make your own statistical analysis and try to create some robots that take into consideration certain statistical parameters and auto-adjust themselves, but then again if the forex industry was that predictable there where be no loosers, and everyone would be on profit. And extrapolating this a little further there is no winner without a looser. This is how the forex market works.

So simply any robot that promises more than 1-2% per month over a relatively long period of time (8-10 years continuously) is in my opinion BS. With my EAs I had months that gained me more than 50% of the capital (with careful management of risk exposure) but the average is somewhere at the range of 1,5% percent per month. I could adjust its settings to gain more than 3000% per month but that would be the case for a very short term period.

By using automated systems you can clearly witness the performance as most of these robots have back test results that are grabbed after creating a certain number of trades. These results are plainly an indication of the performance of the robot and you can see these results before purchasing this product.

I think there are really A LOT of robots)) and about most of them their developers can say they are profitable and easy to use) so no offence I'll better be learning more and make one day EA by myself)) And I don't believe in EA who earns more then 20% monthly.

i offer you to use Altredo Robot

Many things can work and many things cannot work. The main thing that people always forget about is money management. Even if someone is given the most profitable system available, more than likely they will lose it all because of poor money management and over leveraging.

I have never traded with robots.. but have heard much about them.. would like to know whether they help// but I guess there is no a single answer.

which altredo system do u use

Always been interested in forex robots ever since i started investing. I will follow this post carefully.

Experience gained in conjunction with the use of these robots will help you on your way to become a successful forex trader! Forex trading is not just about buying low currencies and then selling them when the price is high.

I don't understand why other people prefer to trust their money on a bot, I'd rather do it manually, but that's just me. I'm not trying to put people off of trading using bots but wouldn't learning how to trade and developing your own strategy be better?

I have a friend who swears by his EA's but he's a really experienced trader and he developed his EA on his own (he doesn't plan on sharing it either) Anyway, the problem with bots, especially if you're a newbie is that you dont learn anything from them. Most automated traders require you to pay, and it is a substantial amount. Why not do things the old fashioned way?

I'm trading with my scalping robot more then 2 years (I mean only with this one). I'm very happy with this robot, but it was developed for my use only. Another very important thing, you have to choose right broker, who will allow profitable trading and will not restrict your robot trading.