Do Forex Trading Robots/EA's Work?

18 Comments

  1. Ever tried using a forex robot guys/girls? Tell us about your first-hand experience with EA's in the comments below!

  2. 3rd parties robots are NONSENSE. Then again…….automating your OWN strategy makes a massive difference. I trade indices, Forex, and metals. My strategy became too complex to execute manually, and I noticed missing many trades while sleeping. Built (8) algos; each for 1 instrument, 1 broker, 1 time frame, 1 pair of settings, and let them execute my trades. They do NOTHING else than automatically executing my (previously manual) trading strategy. They scale in, move stop losses, scale out, etc.My personal view is" if you cannot 100% automate your strategy; then you don't HAVE a strategy. Only the illusion"

  3. if it's a black box then it probably won't be that helpful. but if you can change it, then i don't think it's that different to defining a strategy and sticking to it. if a robot with perfect execution can't make a strategy work forever then i don't think a human can either. a human trader also has to decide when a strategy doesn't work anymore. i think the potential value of a robot is in only having to engage when you need to change your strategy. having said all that, it's really hard to create a successful strategy. much harder than i expected when i started, years ago making robots

  4. This may sound like a stupid question but can all strategies be coded into robots e.g some strategies are discretion based can this be somewhat coded into an algorithm or not? Cheers

  5. I always think that if something sounds to good to be true then it usualy is. Robots/EA sounds to good to be true so i dont believe in them at all. Nothing will beat trading done from a person.

  6. Certainly, if you're not interested to do the work and learn how to code then robots are not for you. As for changing market conditions, there are two ways to handle that: 1. reoptimization, 2. robot portfolios which lower the risk. Manual trading that you prefer is much more risky as it depends on psychology.

  7. I tried for years to create EA's that trade on their own – I back tested EA's with thousands of trades each, over years of data, and the best I achieved was break even. They would be profitable for months at a time, and then crash, pick up again, and then crash again. I never figured out how to get the EA to change strategy in the correct circumstances. E.g. I'm in a range market so the EA is a range robot – it keeps trading until the market has established a trend – by then it's too late. Change EA to trend bot and then the market flattens out and I'm still using a trend bot. I prefer day trading, so I now use the same EA's as alerts so I don't have to stare at the screen all day. I do my thing; MT4 pings my phone ! But I make the trading decision.

  8. One year ago I watched a one month robot trading by Rob Booker and after one month he end up $8000,- loss. I think he still has it on his channel.

  9. Nothing beats a working manual edge. I have always been an advocate of manual system because I know that I wouldn't have to seat all day long and waste so much screen time. EA's are good filter system but relying on it 100% all the time "unattended" is a risky business.

  10. I think it is best to use expert adviser as an assistant for managing trades and even getting on big movements. To stay on top you need to constantly optimise the settings and change between pairs.

  11. I share your opinion. Tried to create tons of EA and test another ton but at the end the lack of adaptability of an EA is their doom. Nothing beats your brain yet in terms of reading the market and adapt to the ever changing environments.

  12. Do Forex Trading Robots/EA's Work? Lets watch and find out while my EC and CADJPY trades fill my account a bit more

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