Are robots really effective or not?

[4rexfish]

Hi! I think Robots are effective. Automatic robot keeps you informed about everything. If a Forex offer according to your preferences is available in the market, a message will be sent to you. If your broker is looking after the operations, he would be informed about the deal.:smart:

 

[Mata Nui]

There is nothing wrong with the idea of automated trading. The problem is that people are seduced by the idea that they can simply set up the robot and watch the millions roll in. It really wont work like that. I doubt there is a single robot that is commercially available that will make you money.

On the other hand if you are trading a good strategy that has well defined rules and IS profitable then there is a good chance that it can be coded into a profitable EA. Even when we trade according to what we think are set rules we tend to evolve the system over time. We might change stops or targets etc to fit what we see and the current market conditions. If you run an EA its important to monitor how it performs and adjust how it trades also (regular optimization). I guess that is why the people who are running profitable EAs are the people who developed the system the EA is trading and why you WONT see these EAs for sale.

There is also the kind of half way house EA. Most of us trade strategies that require a lot of discretion. Normally this is more in the trade management rather than entry. You could use an EA to enter trades then notify you what it has done. That way you get the benefits of EAs (never sleep, never need a pee or a cup of tea, can monitor dozens of instruments over several timeframes) without giving them all the control.

I would be happy to have a go at coding an EA if someone comes to me with a well thought out and profitable system. I dont charge as its a hobby of mine and i would hope to recoup costs by actually trading the EA myself.

 

[Pi3141]

^Do you know any good websites to learn how to code MQL?

Thanks in advance,

Pi

 

[trader-john]

 

[trader-john]

 

[the hare]

Can EA make money for 1-2 years without any updates.- NO!!!

I have a robot thats been working for years without modification. Its true to say that it doesnt do particularly well in certain market conditions, but its been consistently profitable now for almost 8 years (and was profitable in backtest for a great deal longer)

There's no secret about how you achieve this if you are prepared to do a bit of reading and research.

 

[enragedcow]

with forex 1m chart a 60 period EMA giving signals to a robot (buy/sell at crossover) is profitable but you need a massive account to survive the drawdowns

similarly a robot that has a programmed martingale strategy will be profitable, provided you have a massive account (infinite if the mathematicians are to be believed)

want risk free profit? build a triangular arbitrage robot, if yours is faster than the big bank's one you win

i prefer to trade manually

 

[Pi3141]

I have a robot thats been working for years without modification. Its true to say that it doesnt do particularly well in certain market conditions, but its been consistently profitable now for almost 8 years (and was profitable in backtest for a great deal longer)

There's no secret about how you achieve this if you are prepared to do a bit of reading and research.

Was this a robot an EA you bought off the internet? Or this your own trading system you decided to automate? Just curious as I've just hired a programmer to code an EA for me based on my trading system, but if the ones bought off the internet work just as well then.. oops.

 

[JahDave]

My advice is to learn to trade yourself.............

 

[4rexfish]

Hi! Well you have to learn trade yourself but you have to get guide for the unknown thing. If you neglect guidance an keep trying on experiments then there are alot of chances of losing money and during your experiments you can lose a good amount of money.:|So, be careful

 

[boylovelyhcm]

Hi! Well you have to learn trade yourself but you have to get guide for the unknown thing. If you neglect guidance an keep trying on experiments then there are alot of chances of losing money and during your experiments you can lose a good amount of money.:|So, be careful

yes I agree with you, it's important first is to invest and accumulate experience for yourself, learn the trading strategies, test them on a demo account before trading on real accounts
Wish you success

 

[Unreal]

If robots worked in the long term every institutional traders for major banks would use this but the fact is they don't nor invest any money into them. Robots cannot read market pattern maybe short time but long term your doomed for failure thats what in my experience the professionals say that why 95% of traders lose money they go for the easy option. Learn to trade professionally.

 

[the hare]

Was this a robot an EA you bought off the internet? Or this your own trading system you decided to automate?

Its my own strategy. The idea that you could buy something for 100 bucks from a website is just beyond insanity.

Perhaps "unreal" should do a little research before making stupid claims that robots are not used by institutional or professional traders. The significant majority of volume on many markets is now algorithmically traded.

 

[forker]

If you do some research you will find that institutions do use automated trading. Regulatory bodies in the USA recently tried to regulate institutions using automated systems but I believe they were unsuccessful.
You only need to look at the job market to see investment banking jobs on offer for C++ and java algorithm developers going for well over 100k a year.

 

[pboyles]

I see 'unreal' has moved over to babypips.com

http://forums.babypips.com/forextown/39774-website-testimonials.html