Trading Robots what's your opinion on this?

Hi,

also I would like you to share your experiences you made with automatic trading robots. How reliable are they? What's the best product on the market right now?

What strategy should somebody adopt if he want to use such a system for his trading? Could he rely 100% to such systems or will he loose his money one day?

What's the best platform to use trading robots with?

To all the Traders around - Let us know your thoughts on this

I have yet to see a public robot that's profitable. There are some private ones, but obviously those aren't something you can just pick up. You'll have to develop your own.

We have, recently, taught {programmed} a 'bot' to walk.
How much mental resource do you put into walking?
Seriously, would you allow such a 'bot' to have control of your family's future?

It's up to you...

Why not? If it is programmed to do exactly what you want it to do and been tested across different conditions, back and forward, and checked up on at the end of each day....

Why not allow it?

Ps. The 1st walking robot that could carry a person was finished in 2003. How recently was this walking robot that your talking about programmed?
I think maby you are getting recently mixed up with 15+ years ago. Im not an expert so I dont know though.

Leon

Extremely poor comparison....
The obstacles (mostly hydraulics, balance and simulating a humans gait)that were overcome with the "Robot" have absolutely no comparison to a few (if you're an actual programmer "very very few") lines of code that react to specific conditions and execute simple routines when all conditions are met.
That being said, I don't believe there is a moneymaking machine out there (we could afford anyway) that will generate substantial profits without human monitoring and intervention. I do believe there are EA's that if applied correctly, monitored fairly close that could at least make you a more effective trader with a system that had defined conditions and variables by not only saving you screen time but also eliminating emotion.

Even considering all that, your best bet is to put your time in and look at some of the Price Action threads (James 16 in particular) or other proven highly effective methods and actually learn the market. There really arent any short-cuts.
If you are considering paying for someones "Bot" that will make you rich consider this.... If this thing worked half as good as they claimed, Why do they bother selling it? Put it to work and retire!

I'm old & outdated.

Tough keepin' up with you young'uns these days.

Depends on the programming. When I started trading, I used scripts based off of indicators. Now the problem with that is its just a script. It doesn't evolve based off of past trades. It doesn't learn/adjust to what works and what doesn't. All it did was look for a certain pattern based off the indicator. In my personal experience, indicator based scripts would work a very small part of the time. Either the set up wasn't there or the market moved so erratically that the script would end up with a negative trade.

Now, I'm not saying auto-trading/bots don't work. I can tell you of one account that do. An investment house/hedge fund by the name of MAN Group (or something like that) does "Black Box" trading. Their script/programming API is the most advanced thing I've ever heard of. It places trades based off of analytic, market conditions, past setups, ect. From what I remembered, it traded something like 500 trades a hour and adjusted every trade to refelct what ever information was feed to it. A year or so ago, I heard this company was doing very well ... making their clients very rich (I'm not sure about these days).

The point is ... it is very possible to automate your trading. But you need the money or resources to do so. Scripts will fail over time, but a Quantitative/Math based API/programming language thats planned and executed for every possible scenario would work over time. Of course, with black box trading, you will always be re-programming, adjusted algorithms, ect to keep with current market trends.

It is not needed to trust trade a robot. It is possible to look after their trade, but it is needed to make decision.

I'm actively programming my robot right now.

1 - Its not that difficult, people make it complex. I'm using the advice of some of the profitable traders on here and just making it a simple SMA detecting bot and trading off that.

2 - I like taking the emotion out of it. As long as I feel confident in the way the robot reacts (I backtest a lot) then I feel comfortable using it.

hi,
i am new in this forex, am srongly looking for a hand or two in this trading with robot,