Saturday, September 23, 2017

Is Forex Robot Good at Trading?

September 26, 2011 by  
Filed under Forex FAQ & Latest Post

In today question from our subscriber, I shall be discussing with you a topic that most new traders must be interested in.

Below is the question:

Do you think Robot is so good at trading? and someone only have 2000 usd in his account that he can ask robot to trade and make money constantly as an ATM machine, so why we have to trade to fight against robots,I mean in the long run we will be tired of and finally we lost all,only we are human nature not machines that can work 24/7 days and very disciplined. Thanks.

I like your phrase saying that we can use the robot to make money constantly as an ATM machine. This is exactly what most sales letter looks like when they are selling you the robot. I am not saying that all robots are unreliable, it is just that most robots on the market are tooled up by marketers who are looking to make a share of money from new forex traders. Do you think that a robot worth $197 can make money constantly like an ATM?

If that is possible, why would anyone want to work? Everyone will just purchase a forex robot and then make money enjoying themselves at home. I have friends and readers of this blog telling me how much money they lost with robots and therefore I am not a fan of these software.

However not all forex robots are useless but for those that really works, it will be created by forex traders themselves and it usually costs several thousand dollars and some of them are not available in the market and you have to contact the trader themselves to sell it to you. I have came across one that costs five figure that is recommended by one of my trading friends.

The best way to trade forex is not using robots, it is through learning the strategy yourself and then fine tune it until it is able to make constant money for you. Then you can create an EA for yourself using the meta trader platform and it will be able to trade for you automatically like a robot. The difference here is the robot is trading with a working strategy.

With $2,000, I will prefer you to spend a small fraction of it to purchase a good trading course and then practice the strategy until I am able to execute it profitably. At that time, I will then start a LIVE account to trade.

If you ever wanted to make money from forex, you should get rid of the idea that you are able to make money easily with a push of a button. These are ideas that are pump into your brain from salesletter written by marketers who are only interested in making money from you. They do not care if you ever make any money from their software.

The above are my personal opinion and for those of you who has tried any robots before, you can definitely share your experience here by commenting below.

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