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Best Forex Trading Robot?

Discussion in 'BlackHat Lounge' started by carsonrathi, Aug 13, 2011.

  1. carsonrathi

    carsonrathi Senior Member

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    Hey Guys,

    I have got some free time, so i was thinking to dive in forex niche.

    I am looking to start with $1000 balance and thinking to use eToro software.

    However i am looking for recommendation of any auto trading software (found many on clickbank). Anyone's using any clickbank forex product?

    Main thing is, i need a software using which i don't need to glued on my PC and super 'noob' friendly.

    Please share the one you are personally using.

    Regards,
    Carson
     
    • Thanks Thanks x 1
  2. NoirHat

    NoirHat Regular Member

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    there is no forex software that you just run and it makes you rich.
    All of them will blow up your account sooner or later
     
  3. wealth54

    wealth54 Regular Member

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    there is not any autobot in this world to make automated cash from forex trading

    you must watch your steps in forex market otherwise you will lose your hard earned money in no time
     
  4. premiumsource

    premiumsource Senior Member

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    First of all, I wouldn't use eToro to trade with real money. Instead I would pick a reputable ECN broker to do your business with. Picking a right broker is crucial in this business. According to my own tests, there are a couple of commercial EAs and some private ones that are showing promise so far, however, majority of EAs are just pure junk. There are other much better ways to make money in this business.
     
  5. kayos1deep

    kayos1deep Newbie

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    Weekend Warrior from myfxedge has made me consistent profits upward of 15% monthly.
     
  6. adamiove

    adamiove Junior Member

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    Yup. They're right... i was so.. stupid.. that i used eToro with real money. I lost them all in a very short period... about a week
     
  7. xhanuman

    xhanuman Junior Member

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    Better chances at roulette than forex w/ a run of the mill robot. Forex is a vicious realm that will chew up cash faster than you can imagine. You have to really dedicate some time to learning about charting and gauge the entire world economics, policies, dunces making policies, and money printers galore. At least use a demo trading account before you dive in head first... good luck bro!
     
  8. Sites4u

    Sites4u Jr. VIP Jr. VIP Premium Member

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    The only true solid way of making money in forex is selling a strategy/ea
     
  9. jammie

    jammie Jr. VIP Jr. VIP Premium Member

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    The problem with robots is they just run two opposite strategies; 1 will loose and the other will gain. They post the results of the one which won and use that as insurance against their losses. As soon as the market turns, the robot won't be able to deal with it and you'll lose out.

    Also, a ECN connection is a must. Any low tier broker will give you massive slippage and crap spreads, especially so during fundamental announcements. You'll whipsaw and miss opportunities leaving you out of pocket and your crooked broker very happy.

    Is there money to be made in forex? of course! are there simpler ways? yes. many.

    If you want to trade, take some futures/options on gold. It dropped 15% recently, but it'll reach the record high again. Evern if you just buy the commodity and hold for 5-7 years, you'll make a decent ammount higher than inflation+interest at the moment.
     
  10. Typlo

    Typlo Jr. VIP Jr. VIP Premium Member

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    FAP Turbo іѕ а good robot if yоu know how tо uѕe it and havе enough money. You cant just start it running wіth $100 іn аn account аnd expect it tо make уоu $1000s. It doеѕ not work like that. It nеeds to bе set uр and configured properly whiсh is а difficult task. It іs juѕt аs easy tо learn forex as іt іѕ the ins and out's оf robots.
     
  11. spankythepyro

    spankythepyro Power Member

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    robots are all junk
     
  12. Jonny Quick

    Jonny Quick BANNED BANNED

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    I don't think so. Gold isn't any safer than any other metal, or commodity, stock, etc.. There is no guarantees in the future, no matter what the "historical predictor" might say. The nature of the unexpected is that it's unexpected.

    Q: If you flip a coin once and it comes up heads, what are the odds it will be heads 2X in a row?
    A: 50%

    Q: If you flip a coin twice and it comes up heads both times, what are the odds it will be heads 3X in a row?
    A: 50%

    Q: If you flip a coin five times and it comes up heads all five times, what are the odds it will be heads 6X in a row?
    A: 50%

    Q: If you flip a coin ten times, and it comes up heads all ten times times, what are the odds it will be heads 11X in a row?
    A: 50%

    Q: If gold is at all time high, and it has stayed ahead of inflation, etc... for 2000 years, what are the chances that it will go up in the next year?
    A: 50%

    Q: If the previous poster's advice is wrong, you invest everything in gold and wind up losing everything you own, what are the chances that person will compensate you for your losses due to his poor financial advise?
    A: 0%
     
    Last edited: Sep 26, 2011
  13. buttulgly

    buttulgly Junior Member

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    Just send me your $1000. I will have a grand so I will be happy. And you will have the same outcome as trading with a robot (out of pocket a grand). Robots are built to trade a set of conditions but are not intelligent to understand when those conditions exist in the broader market. That is why a robot that works spectacularly this month will fail next month.
     
  14. webnise

    webnise Regular Member

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    Yes, robot cannot be always right !

    However, I have used some robots in the past with some good success. I have mainly traded in gold though ! And my robot was resilient enough to bear the loss of value in gold in recent days so it shows that robot can still work in tough conditions for you.

    For forex trading, it is bit a see-saw ride for me but thankfully I am still in positive although not to my liking but enough to keep my floating.

    I am looking to move more into metal trading including silver and testing a new EA for that currently.
     
  15. dgthiyagu

    dgthiyagu Regular Member

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    i am zero at forex

    but i find this somewhere in search

    may be useful for you

    Code:
     [URL]http://www.stevethai.com/freebacktesttool/[/URL] 
     
  16. webnise

    webnise Regular Member

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    I have been running forex gale on my demo account and it is working good so far.
     
  17. Silverion

    Silverion Junior Member

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    Forex robots need to be watched and can't really be fully automated. I think the most well fx robot is FAP Turbo.
     
  18. BaruchFX

    BaruchFX Newbie

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    Hello Carson,

    I'm forex Trader and I manage third party accounts.

    Also I can provide you my manual trades automatically to your plataform.

    Let me know if you are interested.

    regards
     
  19. peterevanson

    peterevanson Newbie

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    Forex robot trading is very popular but most traders make the key mistake enclosed when buying one and lose their money.
     
  20. luckynas

    luckynas Newbie

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    Forex trading is profitable for people who have larger amount of cash to invest that can withstand the crazy ups and down of the market which will surely wipe out small amount of capital. But if u have a seizable amount of investment a losing trade can eventually turn into a winning trade in time. I am no guru but in my little experience this is what I observed. Those with a huge balance will make more money with the right trading strategy and money management.