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The modeling of the forex market – an EA robot using AI 35 replies

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forex robot system

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  • First Post: Jul 13, 2006 12:33pm Jul 13, 2006 12:33pm
any one can tell me what company uses robot technology in trading forex i contacted Forex.com in florida they said Forex Bot program the program is currently closed to new investors until the end of July, 2006. any one knows anything i am new to this
You will find they are still pretty useless. We used to have one but it fell into a ditch and couldn,t get out. Not used to the mud, you see.

Here are some modern ones:

Attached Image
Gone to a better place
The little red one is what I'm like after 4 cups of coffee:

http://video.google.com/videoplay?do...1361193228548#
Gone to a better place
Hello guys! a few weeks ago I found some information about expert advisor eafx-iq250plus. It is rather interesting strategy sistem, that developers provids for cooperation. But I do not quite understand how they work. May be, somebody previously collaborated with them and tell me something about this team.

Thankyou very mach for your answer!
Quoting normfx
working on my sig.
what does it mean?
Quoting kl1mnc1
Hello guys! a few weeks ago I found some information about expert advisor eafx-iq250plus. It is rather interesting strategy sistem, that developers provids for cooperation. But I do not quite understand how they work. May be, somebody previously collaborated with them and tell me something about this team.

Thankyou very mach for your answer!
Ea's don't work, forget them...no santa claus in forex
entry - 1.29250 s/l 200 pips
And yes, the other shoe has finally dropped on the EA scenario - no EA will work right all the time and will fail eventually. The only open question is "when", been there, done that and lost tons of $$$ thanks to my gullibility and high vaulted EA's that were hyped to net maximum profits. So much for that..
Here's a tip: EA = rip off
Quoting normfx
Ea's don't work, forget them...no santa claus in forex
Did you mean that all experts advisors do not work, or just eafx-iq250plus? I am interested only in this project. They post on fxbook online statment of real account. It shows very interesting results . Especially, they do not sell advisor , but take accounts to trust management. I would like to open an account on one of the brokers and to try to give it in trade management. But first I want to consult, if anyone have tried to cooperate with eafx co or have heard smth about it. I am not interested in general information, only about the robot.
Look at it this way, most of the EA's on the market are not that great. If they had been good, nearly all the traders would have made profits during every trade. Sure, the site recommending the EA will provide you with reams of data on back tests but remember, these so called factoids can be easily tampered with.
I'm sure there're a couple of good EA's out there but finding it is totally a different matter. But even these EA's will fail after a while..that's the bitter truth. We may as well consult, open an ad-hoc session and come up with our EA version and sell it for $$$$$$$..
Agree with forexnuts. I have tried most of the so called best performing bots advertised with all past history.

short term like a month , they will do good. But in the long run, they will fail miserably.

There are some good ones like Kangaroo EA, but that will give you very low returns and trades very rarely and as traders we are impatient, we want to trade everyday and make a gazillion $$$. . It is also backed up by some honest folks.

Anyways , my experience with EA is not soo good. I stay away from them and i suggest you do the same.
Quoting Forexnuts
Look at it this way, most of the EA's on the market are not that great. If they had been good, nearly all the traders would have made profits during every trade. Sure, the site recommending the EA will provide you with reams of data on back tests but remember, these so called factoids can be easily tampered with.
I'm sure there're a couple of good EA's out there but finding it is totally a different matter. But even these EA's will fail after a while..that's the bitter truth. We may as well consult, open an ad-hoc session and come up with our EA...
Thanks for the tips! This adviser rarely opens an orders. By the way, it does not sell, and only take on management accounts ...
Nobody is foolish enough to sell working EA's. The more people use it, the less profitable it becomes. Trading big money for small money is pointless. So all of the EA's that can be bought are nothing but junk. No exceptions.
But that doesn't mean there are no profitable EA's at all. Just not for public.
Quoting spectrum
Nobody is foolish enough to sell working EA's. The more people use it, the less profitable it becomes. Trading big money for small money is pointless. So all of the EA's that can be bought are nothing but junk. No exceptions.
But that doesn't mean there are no profitable EA's at all. Just not for public.
That is not entirely true. I have an EA that has been profitable for 18 months that is based on one that was posted in these forums. Accordingly to the people who gave me the idea (such kindness exists on these forums) for it, it had been profitable for the 2 years prior as well. Lately the brokers seem to have caught on or there are too many of us using the strategy because they deliberately widen the spread for an hour or two when the trades are triggered. So my profits have been cut in half, but still profitable.

So as not to worsen the situation, I will not tell you my strategy. But if you are clever and ambitious you can find the strategy complete with a crude EA (not mine).

I have read about others that also profitable; but that seems to be a case of some people can find a profitable setup and most can't.

So it is possible, but its not easy.
A profitable EA? Come on, you're trying to corner the EA market, right? Just kidding..
Moving along, human nature being what it is, no one would be crazy enough to sell a working EA or at the very least, it will work like the window washer who comes in once a month. In other words, any successful trades made on a working EA would net you extremely small profits..in the end, your internet bill will wipe out the small profits and land you deep in the red.
FYI, these working EA's come with a catch, any complaint you make against them will cause the EA to stop working..not making this up, it's for real. That's the story on EA's - they're aimed to generate profits, not for the trader but for the developer.
Quoting Forexnuts
That's the story on EA's - they're aimed to generate profits, not for the trader but for the developer.

That statement is 100% correct and a fact. No argument there.
Quoting CodeMeister
That is not entirely true. I have an EA that has been profitable for 18 months that is based on one that was posted in these forums.
I was talking only about EA's that are sold for money. They are all junk as I said. But every EA have a story of its creation and it is often based on some ideas from public boards. So there is no contradiction here, you can't buy a profitable EA but you can get it free in some crude form.
I'm only new to forex, but a lot of the reading I've done has emphasised the need to develop a solid, consistent trading plan and stick to it..

Isn't this the same as a forex robot? (which would also help take the emotion out of it).. Or is the case that with manually trading, traders tend to pick up on little nuances and are more adaptive?

As a beginner, I'm finding I like the idea of backtesting strategies, etc and am keen on the idea of getting my Expert Advisor to a usable state. Why? I'd like to help take the emotion out of it..
EA=Fx robot, the name is a joke [EA]..but then again, since I have not yet come up with one, cannot really take potshots at the moniker. But when it comes to signals, strategy indicators, there's way too many..remember the "too many cooks pee into the pot" ..that's kind of true with most of the custom made indicators.
The problem with these custom made indicators is not that they do not work, they do. But there's way too many, so if you want to spend the next 2 years testing out one indicator after the other, both free and paid ones, you're welcome to it. But for my 2 cents, you're better off learning about fx and trading . In time, once you know better, you can decide which interactive tool to use.
Quoting Forexnuts
But for my 2 cents, you're better off learning about fx and trading . In time, once you know better, you can decide which interactive tool to use.
What's stopping you from doing both? That's the approach I'm taking.
As a programmer, I'm finding it better to learn programatically as that's how I'm used to things. At the same time though, I'm not committing myself to any fully deterministic system(s).

Worst case scenario, I hope to have an expert advisor that at least provides me with alerts which I can then further analyse..
People, you cannot avoid hardwork in learning to trade forex.

One of the hard part is having a control on your emotions, it's called being diciplined. you cannot expect a robot to do that job for you. The robot is dumb, he cannot analyse the markets like a human does.

This is why in the long run , humans will beat the robots.

Certainly the robot has the dicipline , the dicipline of a donkey. But in trading you need to intelligently analyse the data and be diciplined. This is something the robots have failed to do. If however robots do become sucessful in this. That will be the day forex trading will cease to exist.

Learn the hard way, look at all those professional traders back in the 70s/80s. they didn't even have computers to analyse the charts and they still made a killing and were consistent.

people expect instant results without putting in hardwork or they expect some robots to do that job for you. unfortunately this is human nature, that's why people fail in trading in the long run.
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