Has anyone tried any FOREX robots?
By dabyo217
@dabyo217 (67)
Philippines
September 13, 2010 12:19am CST
I'd like to make serious amount of money using online systems such as forex trading. I wonder if FOREX robots like FAP TURBO really works. Has anyone tried it? If yes, did you earn from it? What advice can you give me in choosing a good forex robot?
6 responses
@flowerhorn (1008)
• Malaysia
13 Sep 10
If making money with robot is so easy with forex, I guess everyone would be rich. Imagine just install the forex robot of your choice and then sit back and watch the robot does the trading for you.
Making money with auto pilot system would surely has its shortcoming. You might find that it works for some time and then you will lose it all.
However, I must say that forex is a very potential niche to make money. The fact that 95% traders lost money is what deter most people from going into it. For me, I am more interested in studying a price action pattern technique. It requires some initial learning and takes skill to get proficient. But I tell you one thing. It DOES work!
@flowerhorn (1008)
• Malaysia
14 Sep 10
Babypips is a good website for newbies. Go through the school there and don't forget to take the test as well as you go along.
For forex trading, it is also beneficial to get the latest news release. Over in forexfactory, you can see all the economic releases and see how the market reacts to them. You can synchronize the time of the news release in forexfactory to your local time.
Earnforex is a good website to check out the forex broker out there. Remember though, all brokers have negative as well as positive comments. The bigger and the more customers a broker is, the more negative comments one has. Those satisfied customers rarely comment, so it does not mean that one broker is no good if it has many negative comments. The thing to note is watch out for scam case. Otherwise, you can safely choose a broker even with tons of not so serious negative comments. To make a safer bet, open an account with a small deposit.
Hope this help!
@ifandri (1)
• Pakistan
15 Sep 10
i have suggest for forex auto pilot with manual user , you can try and free download , open this link (sorry) http://autotraderobot.blogspot.com/
@puccagirl (7294)
• Israel
13 Sep 10
I haven't tried any of them, as a whole the Forex trading market seems to risky to me that I try to stay away...
@Miner49r (568)
• United States
13 Sep 10
Basically all a forex robot is a one or several trading strategies programed to execute on given conditions. Exactly the same as if you were to study and adopt a trading philosophy or develop your own.
Where the problem comes in the robot is not functioning with reason or logic. The specified parameters are met, and the robot executes. So truly they are not as smart as they are made out to be....they only employ a strategy and act on it whether it is a logical trade or not.
@Miner49r (568)
• United States
13 Sep 10
I tried FAP. At first it was a an ok earner, ... then about a week into things it slowly started to eat up the profits and resulting in more losses than wins. I ran FAP with several different brokers several different times to test the broker and the robot... all with the same results.
FAP is created on a counter strategy method, meaning if there is a dip...it buys expecting a turnaround and visa versa. This can be a dangerous strategy as you well know the markets are very volatile and tend to swing drastically. Other factors I could identify that exploited it's weakness was the news. Any news of significance causing a spike would also cause it to trade in correctly. If I can find my info I may go back and run it again just for kicks.
FAP trades on the asain session as do most other bots. Brokers are closely watching for these bots during these times and can cause you heartache and loss.
IAM forex ...the recommended broker is guess who....FAP turbo they are one in the same. I have stepped away from forex for the time being, I seem to be making more on the internet doing other things than with forex.
Wanna know about megadroid? ... toss me a pm
@paiiii (39)
• China
13 Sep 10
I did one year in forex transactions,don't make money,but costing me a lot.What you said is the foreign intelligence trading software,right?
I have not used it,and i think it does not work,becuase FX trasaction can not do without human factors,toally dependent on computer does not be reliable.
