[Gorald]

I have heard many times about forex auto robot. There are hundreds of forex auto robots out there which has been claiming to be successful and making your money double or triple within 5-6 months. I want to know is their claim true? Should we trust Forex Auto robot?

[Paul75]

If these forex auto robots really makes double or triple invested money then why they are selling to others. They can use those robots for themselves as well. I don't trust on all auto robots.

[Gorald]

Originally Posted by Paul75

If these forex auto robots really makes double or triple invested money then why they are selling to others. They can use those robots for themselves as well. I don't trust on all auto robots.

Yes, you got the right point. Thanks. After some analysis in the Internet about forex auto robot, I have found that no expert trader trusts or depends on any forex auto robot as they claim these are sure scam. So I also do not trust them any more.

[SecheKrate]

I personally trust only my knowldege and intuition and prefer manual trading.

[Jack Francisco]

Originally Posted by Gorald

I have heard many times about forex auto robot. There are hundreds of forex auto robots out there which has been claiming to be successful and making your money double or triple within 5-6 months. I want to know is their claim true? Should we trust Forex Auto robot?

Trading manually enable you to take decision on the spot. If you are making good profit, you can close the position and go away. I love technology, but I just couldn't trust EA to trade my money.. I just straight don't like the idea.

Does anyone obtain good profit by the use of EA?

[KirstenDavid]

Hi guys,

Just read your opinion. Im new and doing some research, reading books and watching news on the internet about fx. Hope to gain more friends and learn as well.

[tradingmarket]

Forex robots work! They are great because they make you money while you sleep or work on other projects. Software keeps money management very strict and won't get you into trouble if you like to gamble from time to time. Robots can be tested on historical data in just a few minutes but to check manual strategy can take weeks or months just to be sure that your edge is working. Without backtesting you're most probably lose your money. Robots have advantages that a human would never have. For example, they can catch a movement while you're making coffee. The only issue with robots is that they can't read charts like humans do but they can use completely other statistical edges. So, my advice would be to use both - manual and automated systems. That way you can hedge your strategies and decrease your drawdowns.

[Gorald]

Originally Posted by tradingmarket

Forex robots work! They are great because they make you money while you sleep or work on other projects. Software keeps money management very strict and won't get you into trouble if you like to gamble from time to time. Robots can be tested on historical data in just a few minutes but to check manual strategy can take weeks or months just to be sure that your edge is working. Without backtesting you're most probably lose your money. Robots have advantages that a human would never have. For example, they can catch a movement while you're making coffee. The only issue with robots is that they can't read charts like humans do but they can use completely other statistical edges. So, my advice would be to use both - manual and automated systems. That way you can hedge your strategies and decrease your drawdowns.

Using both of them is not possible for me. Actually this will make me more confused about trading in forex market. One of my close friends said that I need more concentration on learning and that is the only key to sucecss here.

[JimB]

Originally Posted by Gorald

Using both of them is not possible for me. Actually this will make me more confused about trading in forex market. One of my close friends said that I need more concentration on learning and that is the only key to sucecss here.

Your friend is right. If you don't understand the market then you are not going to be successful with or without a Robot. That said, Robots aren't entirely a scam but most provided to the public are. Most of the financial markets are operated my sophisticated algorithms that keep the markets in check. Forex is no different but without good knowledge and practice, your setting yourself up to fail. Once you understand what your looking for, it's not hard to tell a Robot to look for the same things and at the very least, notify you- if not trade for you, upon the trigger. Most of the Forex Trading Robots you see being pushed though are highly over-rated and mostly a scam.

[maory82]

I prefer using manual trade than auto robot, just read market analytic from my green broker, see the market movement and make some analysis to make an order.