Forex Trading Robots? Are they really good?

Yup, I have my own, and I've tried many others and they simply don't work. Mine however does, why? Because it uses a complex set of mathematical algorithms to work out what to do rather than rely on technical indicators, which is the main reason why 99% of these bots don't work.

So my advice, leave them alone, unless you know how to trade forex. And especially stay away from the "forex brotherhood" they are all the same people coming out with their robots which are only done on DEMO accounts, they do not do them on live accounts, cos they know eventually your account will be blown out of the water cos they can't handle any market situation. Mine does - I've studied EA's for 4 years, my current one cost 1/4 million to put together!

Thank you for your advices. I think I will let the forex marketing aside because I can't even trade. I only know some of the basics but it seems you need to invest huge amount of money.

250k-500k is huge that I can't even afford

My exact thoughts. Kind of comical to read comments from people claiming they have turned $250K into 8 figures while at the same time they have a bunch of affiliate links to article submitters and other get rich schemes.

JKN

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Lokki08,

Ok, I am going to disagree with some of the comments in here about your specific question as I have been a forex trader for 5 years so I do know a little about what I am talking about.

Do forex robots work is your question.

Answer... YES they work!

However, if you stick with forex long enough, you are going to learn a real important fact of life in this kind of trading.

Here is one of the facts.
The HUMAN element of each one of us is mainly the biggest problem with trading forex.

Here is what I mean.

I can have the BEST trading strategy in the whole world and it can be working for me at perhaps a 90% win to loss ratio.

Then, I have a few people who just have to have my system because it is going to make them rich, Right?

OK, I show this group of eager beavers the absolute EXACT methods I am using and I tell them the EXACT RULES to follow and in the order to follow them.

Now, anyone would think that this would be a perfect situation and everyone of them is going to have the same success that I am having. Sounds Logical enough doesn't it?

Well guess what?

Out of a group of 10 eager beavers, I bet you if 1 person made it work for them, that would be a fairly good guess. Maybe out of only 10 people, there might not even be ONE person who can get it right.

So you ask, "Why is that happening?"

The reason is something that takes most traders a very long time to figure out... Here it is in a nutshell.

A PART of the human nature in nearly every single one of us is called "GREED"

If you think for one minute that you are not a greedy person, you just start trading FOREX for a little while and I will guarantee you that you will learn things about yourself that you don't even know! It will amaze you how greedy you really are and you didn't even know it!

Hey, come on market, just one more pip, all I need is just one more pip and I will make ?????

That is the reason hardly anyone can take a strategy that is working for one person and make it work for another. Because w some of us will NOT follow the rules EXACTLY the way they were told to follow them.

We always have a better idea and we are going to bend this rule just a little and then we bend this other rule a little and before you know it, you are P***** OFF because you paid money for this strategy and it DID NOT WORK!!! Hey, been there and done it, believe me.

There is not a successful forex trader out there that will disagree with what I am saying. If they do, they are either faking it as a trader or just want to argue with me. It is the way it is...

Robots can work VERY well. Why? You can set them up with certain parameters to work in a certain way. It depends if you want to be a little passive or AGRESSIVE which is what most people will be because they are "GREEDY" and they want it all RIGHT NOW! They want instant success as a forex trader. It Ain't gonna happen!

If you start out slowly with a robot and give it a chance, they can do very well. The reason for this is because it IS A ROBOT and it FOLLOWS THE RULES TO THE LETTER!

It does NOT have a brain to think it can do a better job by changing this and that, it simply follows the rules of the strategy WITHOUT EMOTION!

I AM Not saying that ALL robots are equal. They are NOT! Some do very well and some are just a plain waste of money, period!

I know a handful of ROBOTS that did so well that some of the MAIN forex trading BROKERS would NOT even ALLOW these HOT robots to be used... If used, the account would get closed down immediately.

This is NOT new news, this has been a fact for some time now. I know many very good traders who made absolute fortunes with ROBOTS because it was the only way these trader could control their biggest problem, (GREED) Even as good as these traders were, they each KNEW they had a GREEDY nature deep inside them and they were willing to accept that fact and then do whatever they had to do the correct the problem.

Denial will absolutely cause you to GO BROKE in FOREX trading. Like I said, you are going to learn things about yourself that will BLOW you away.

I could go on and on with this subject for hours because it is so important but I will stop now.

In FACT, I am in a trade at this instant and showing DOWN (AGAINST ME) nearly $300. OH, come on, I just know it is going to turn around and go in my favor... Then it goes down to $500 against me. Now I am to scared to close the trade because I am going to lose $500! NO way! I can't afford to close this trade and lose all that money... My indicators are all telling me it is going to turn around..

Few minutes later, against me $750. Now I am going to have a heart attack if I close because I just know that as soon as I close the trade, it will turn around and go in my direction and then I won't be in there getting all those pips.

So, YOU GET THE POINT! It never ends with Forex Trading.

I absolutely LOVE trading FOREX but I have learned how to treat it and think about it. I will share with you how I look at it.

Forex is like a deep black hole with NO BOTTOM. Somewhere in this black hole is a terrible money eating MONSTER and it has ALL the power and it KNOWS that it is going to EAT you alive.

You get into the black hole and get deeper and deeper in there because you just can't close your trade making just a few pips, you just had to have more. Now the monster has you and you can't get away. You're DOOMED and you decide to quit trading because you just lost all the money you had saved up.

When I go into a trade, 99.9% of the time, it goes against me in the very beginning. I hang on, I treat it with respect knowing the MONSTER is there with his BIG MOUTH open just waiting to swallow up all my money.

The trade goes into my direction for just a short while and I decide to be happy with SOME pips rather than NONE! So, I decide to take them because some pips is better than NO pips and even if I come out of a bad situation and break even, I just won.

When I go into the trade, I KNOW that most likely the odds are against me and the longer I am in a trade, (at least for the most part) the bigger the chance the MONSTER is going to get me and leave me with a broken heart, broken spirit, broken hope for a better future and a broke bank account AND a P***** OFF wife!

Sorry about going on so long but if you get into FORX trading and stay with it long enough, you will LEARN exactly where I am coming from.

To all of you, have a great day and happy trading to you..

Daniel Hansen

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Lokki08,

Ok, I am going to disagree with some of the comments in here about your specific question as I have been a forex trader for 5 years so I do know a little about what I am talking about.

Do forex robots work is your question.

Answer... YES they work!

However, if you stick with forex long enough, you are going to learn a real important fact of life in this kind of trading.

Here is one of the facts.
The HUMAN element of each one of us is mainly the biggest problem with trading forex.

Here is what I mean.

I can have the BEST trading strategy in the whole world and it can be working for me at perhaps a 90% win to loss ratio.

Then, I have a few people who just have to have my system because it is going to make them rich, Right?

OK, I show this group of eager beavers the absolute EXACT methods I am using and I tell them the EXACT RULES to follow and in the order to follow them.

Now, anyone would think that this would be a perfect situation and everyone of them is going to have the same success that I am having. Sounds Logical enough doesn't it?

Well guess what?

Out of a group of 10 eager beavers, I bet you if 1 person made it work for them, that would be a fairly good guess. Maybe out of only 10 people, there might not even be ONE person who can get it right.

So you ask, "Why is that happening?"

The reason is something that takes most traders a very long time to figure out... Here it is in a nutshell.

A PART of the human nature in nearly every single one of us is called "GREED"

If you think for one minute that you are not a greedy person, you just start trading FOREX for a little while and I will guarantee you that you will learn things about yourself that you don't even know! It will amaze you how greedy you really are and you didn't even know it!

Hey, come on market, just one more pip, all I need is just one more pip and I will make ?????

That is the reason hardly anyone can take a strategy that is working for one person and make it work for another. Because w some of us will NOT follow the rules EXACTLY the way they were told to follow them.

We always have a better idea and we are going to bend this rule just a little and then we bend this other rule a little and before you know it, you are P***** OFF because you paid money for this strategy and it DID NOT WORK!!! Hey, been there and done it, believe me.

There is not a successful forex trader out there that will disagree with what I am saying. If they do, they are either faking it as a trader or just want to argue with me. It is the way it is...

Robots can work VERY well. Why? You can set them up with certain parameters to work in a certain way. It depends if you want to be a little passive or AGRESSIVE which is what most people will be because they are "GREEDY" and they want it all RIGHT NOW! They want instant success as a forex trader. It Ain't gonna happen!

If you start out slowly with a robot and give it a chance, they can do very well. The reason for this is because it IS A ROBOT and it FOLLOWS THE RULES TO THE LETTER!

It does NOT have a brain to think it can do a better job by changing this and that, it simply follows the rules of the strategy WITHOUT EMOTION!

I AM Not saying that ALL robots are equal. They are NOT! Some do very well and some are just a plain waste of money, period!

I know a handful of ROBOTS that did so well that some of the MAIN forex trading BROKERS would NOT even ALLOW these HOT robots to be used... If used, the account would get closed down immediately.

This is NOT new news, this has been a fact for some time now. I know many very good traders who made absolute fortunes with ROBOTS because it was the only way these trader could control their biggest problem, (GREED) Even as good as these traders were, they each KNEW they had a GREEDY nature deep inside them and they were willing to accept that fact and then do whatever they had to do the correct the problem.

Denial will absolutely cause you to GO BROKE in FOREX trading. Like I said, you are going to learn things about yourself that will BLOW you away.

I could go on and on with this subject for hours because it is so important but I will stop now.

In FACT, I am in a trade at this instant and showing DOWN (AGAINST ME) nearly $300. OH, come on, I just know it is going to turn around and go in my favor... Then it goes down to $500 against me. Now I am to scared to close the trade because I am going to lose $500! NO way! I can't afford to close this trade and lose all that money... My indicators are all telling me it is going to turn around..

Few minutes later, against me $750. Now I am going to have a heart attack if I close because I just know that as soon as I close the trade, it will turn around and go in my direction and then I won't be in there getting all those pips.

So, YOU GET THE POINT! It never ends with Forex Trading.

I absolutely LOVE trading FOREX but I have learned how to treat it and think about it. I will share with you how I look at it.

Forex is like a deep black hole with NO BOTTOM. Somewhere in this black hole is a terrible money eating MONSTER and it has ALL the power and it KNOWS that it is going to EAT you alive.

You get into the black hole and get deeper and deeper in there because you just can't close your trade making just a few pips, you just had to have more. Now the monster has you and you can't get away. You're DOOMED and you decide to quit trading because you just lost all the money you had saved up.

When I go into a trade, 99.9% of the time, it goes against me in the very beginning. I hang on, I treat it with respect knowing the MONSTER is there with his BIG MOUTH open just waiting to swallow up all my money.

The trade goes into my direction for just a short while and I decide to be happy with SOME pips rather than NONE! So, I decide to take them because some pips is better than NO pips and even if I come out of a bad situation and break even, I just won.

When I go into the trade, I KNOW that most likely the odds are against me and the longer I am in a trade, (at least for the most part) the bigger the chance the MONSTER is going to get me and leave me with a broken heart, broken spirit, broken hope for a better future and a broke bank account AND a P***** OFF wife!

Sorry about going on so long but if you get into FORX trading and stay with it long enough, you will LEARN exactly where I am coming from.

To all of you, have a great day and happy trading to you..

Daniel Hansen

Forex robots simple doesn't work, at least for longer term. It might work now but it won't after some time. Any successful traders would know that.
If you really want to make money from forex then you must spend your time study about it.

Cheers

MY personally experience? stay away from it unless you know what you are doing!

Day Trading FX Course Blog - Forex Advice, Tips, Forex Analysis, Winning Strategies new site i put up..

ha h ha, nice try.

Even a hairy monkey can make huge profits in a demo account with crazy leveraging. You are better off trading Zimbabwean Dollars than trying to impress warriors with a demo account. Stop being a clown.

I am sure your next "proof" is to post some photoshopped stats. If you ever traded professionally you would know how absurd your comments so far are.

As you get your best ideas when sleeping, I am sure that by the morning you will come up with another brilliant way of convincing the masses that you make over $100K per day in forex during the day and then promoting your affiliate links at night in the warrior forum.

By the way, do you know if Warren Buffett is also promoting his links on this forum? You can not keep all your eggs in one basket right?

Show me your 2 year results on a real live account, then you can call yourself da man.

And then you use the rest of your time to promote ArticleBlogPoster.com, article submitters, seo profit videos and website builders?

You are a funny guy.

JKN

Trying to con newbies with your demo account stats is unconscionable.
Are you not making enough money from your affiliate links?

You manage an "investment group" but yet you use bucket shop retail brokers. LOL. You should go into comedy man.

If you are licensed to manage other people funds, show us your license and real live performance details that you obviously had to show your billionaire investors.

JKN

I can vouch for Loz. Everything that he has said in this thread is true. The figures are true, and the bot is his own.... And it's not for sale.

JK, it appears to me that you just want to bait loz to get a rise out of him. You come on here with your newbie status and try to belittle Loz. Someone who has a big history in SEO, IM and forex and has contributed quite a lot to this forum.

And as he has said. Those aren't affiliate links, they are his own products. What can I say, the guy takes action and accomplishes a lot with his time.

As he has already said, he doesn't give rats arse what other people think. His main point at the end of the day was to answer the original question, do forex robots work, and he answered.

All in all, the he is the real deal.

Sorry JKN, but the fact that you mentioned his apparent 'Affiliate' links multiple times pretty much says to me that you are baiting him, especially with him making it clear that they weren't affiliate links.

AND at what point did Loz try and sell his forex robot in this thread? Are you or any other member in here in the market to spend over $100 million+ on a robot? Because that's what he stated his price would be to even think about passing it on.

OK so you say you have been a member since 2001 ish?! So was your original account banned for some reason? Maybe baiting people and trolling the forum? At present your status shows that you joined in Feb 2009 and you have only 22 posts... so i'll take that for now as you being a newbie... which is nothing to be ashamed of... and I guess just because you are a newbie on here, it doesn't mean that you lack any experience or knowledge within the IM world. What it does mean though is that i'd probably pay more attention to Loz who I has a good name within this industry rather than someone trying to get a rise out of people, also meaning that most of your posts are baiting posts offering no real value to anyone. Opinions are one thing but why not be nice and post something useful eh?!

Just my opinion.

Just to get back to the topic at hand. I have been trading for a number of years now myself. I have been testing a great new robot which was mentioned earlier called
fapturbo, I have an affiliate link but am not posting it. I am just here to provide some information.
My demo account has been doing well and I'm now looking at going live. I know a lot of people on the forum who have been live for a while and are doing very well. Check it out!

Sean

By the way Loz, keep it up, I can't definately say that your stats are a demo or not cos there is no way for me to know, if you want to stop these naysayers post something that is concrete, like a bank account with a lot of 000's. If you provide some proof that might not be construed as a demo account then you will shut people up. Until then you will cop it. If it is fair dinkum though I'd like to chat to you for sure!