Is There Really A Profitable Robot? | Forex Factory

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Is There Really A Profitable Robot?

  • #1
  • First Post: Feb 20, 2009 9:42pm Feb 20, 2009 9:42pm
My mind is spinning with thoughts. The advantages to a robot is it takes emotion out of the the equation, which is the sign of a good trader. My inbox is flooded with robots, and the ads and packages look earily similar, are they all scams? They actually seem like their are all from the same vendor. Honestly, if one of the multitude of my systems worked, I'd bank the millions and honestly not tell a single soul, when I'm dying in my bed many years from know, I'd whisper the code to my eldest son and tell him to take care of his brothers, their kids and grandkids. It would belittle my achivement to hawk it for 77 bucks with a cheesy internet ad.

Are we all searching for something that just isn't there? I've got a friend who's a lucky gambler, he gets a feeling, goes with it, and wins more than he loses. He can't understand, why I can't "feel it", and I can't understand how he does. Are good traders just people who can identify a trend and intuitively know when to follow or bail? I look at charts every free minute I have, and I just "know" in my mind there has to be a pattern or something that will pop out at me and the FOREX market will turn into a personal ATM for my family and future, but I bet we all feel the same way. Are we suffering from the same delusions? Or are we one indicator and line of code from the big time.
  • #2
  • Feb 20, 2009 9:56pm Feb 20, 2009 9:56pm
Forget robots, they lack intuition and the ability to adapt. Neural networks are not {yet} good enough to match that of the human-mind.

Emotion can be subdued, work on mastering that.
  • #3
  • Feb 20, 2009 10:12pm Feb 20, 2009 10:12pm
I get tired of reading "forget robots." I admit most are crap, but not all.

I never bought an EA. I made my own. You can feel good knowing your strategies you bet on (vs. an invisible black box) and if the market goes against your patterns, you knew you were gambling anyway!

I really don't like the tone of the thread. It is obvious you are sooooooo new to trading that you haven't gotten many reality checks yet. Good luck.... and don't get discouraged too easilly.

Quoting NuckingFuts
Forget robots, they lack intuition and the ability to adapt. Neural networks are not {yet} good enough to match that of the human-mind.

Emotion can be subdued, work on mastering that.
  • #4
  • Feb 20, 2009 10:22pm Feb 20, 2009 10:22pm
Quoting tdion
I get tired of reading "forget robots." I admit most are crap, but not all.

I never bought an EA. I made my own. You can feel good knowing your strategies you bet on (vs. an invisible black box) and if the market goes against your patterns, you knew you were gambling anyway!

I really don't like the tone of the thread. It is obvious you are sooooooo new to trading that you haven't gotten many reality checks yet. Good luck.... and don't get discouraged too easilly.
That may be the case, but read what the dude was asking....

"My inbox is flooded with robots, and the ads and packages look earily similar, are they all scams?"

He obviously is not developing his own, he is thinking of buying some other POS.

If the thread were hey, I'm trying to build my own, I wouldn't have said shit.
  • #5
  • Feb 20, 2009 10:34pm Feb 20, 2009 10:34pm
Maybe I should rephrase myself.

Unless you have sound knowledge of the markets and the expertise to build your own EA, forget about it.
  • #6
  • Feb 20, 2009 11:26pm Feb 20, 2009 11:26pm
I agree it's not a good idea to buy someone else's robots, but I don't think you need the ability to build your own EA for one to be profitable. IMHO, you need to study indicators, study charts, money management, and a whole lot of other aspects of forex trading (it takes a long time). And after you manually trade the system you develop yourself for 3 months and are profitable (from the Rookie discussion thread), then go live. Only after that point, I would consider hiring someone to develop an EA for you.




Quoting NuckingFuts
That may be the case, but read what the dude was asking....

"My inbox is flooded with robots, and the ads and packages look earily similar, are they all scams?"

He obviously is not developing his own, he is thinking of buying some other POS.

If the thread were hey, I'm trying to build my own, I wouldn't have said shit.
  • #7
  • Feb 21, 2009 12:01am Feb 21, 2009 12:01am
Quoting Yentrader2
Honestly, if one of the multitude of my systems worked, I'd bank the millions and honestly not tell a single soul, when I'm dying in my bed many years from know, I'd whisper the code to my eldest son and tell him to take care of his brothers, their kids and grandkids. It would belittle my achivement to hawk it for 77 bucks with a cheesy internet ad.
You and everybody else would do that.

Save your money, do your homework, demo trade.

Become good at demo trade.

Then take some money, some cash on hand, not money on a credit card and fund an account. Be ready to piss that money away. That way, if you lose it, you won't starve and/or get divorced.

Then trade. But before you do, I always suggest that one gets a hat and is ready to hold the f@#k on to it.

P.S.: Welcome to FF
Not all sins are created equal
  • #8
  • Feb 21, 2009 6:35am Feb 21, 2009 6:35am
I think I just answered your question here

http://www.forexfactory.com/showthread.php?t=154066
  • #9
  • Feb 21, 2009 9:41am Feb 21, 2009 9:41am
Yes, profitable robots do exist because I've written two of them.

Stop searching for the "holy grail"! Profitable systems already exist, they have for decades. It should be the goal of a programmer to read up on these and then make them into profitable EAs. And that's what I've done - posted here with all source code:

http://www.forexfactory.com/showthread.php?t=143250

http://www.forexfactory.com/showthread.php?t=145135
  • #10
  • Feb 21, 2009 10:34am Feb 21, 2009 10:34am
I just posted my EA's 2009 trades in my journal "Money Talks"

330 pips in 13 trades so far.
  • #11
  • Feb 21, 2009 8:20pm Feb 21, 2009 8:20pm
Yeah I already have it running, small constant gains, which isn't bad. But I'm looking for something BIGGER.
  • #12
  • Feb 22, 2009 4:35am Feb 22, 2009 4:35am
is there really a profitable robot ?
sure, there are many.

but it think you didn't ask the right question.
your question should have been:
is there really a profitable robot for the long-term ?
no
why ?
because robots are mechanical, they take conditions of the market and place the order accordingly. but the market is not made out of robots, it's made by human beings, their emotions, their fears, etc. a system that may have worked for the month of january may not work for the month of february. you have to adapt your system to the market conditions, which always change. a robot cannot do that.

maybe one day when neural networks will have advanced very much we will have a profitable robot for the long term...
Twitter: @forexpokerpro
  • #13
  • Last Post: Feb 22, 2009 5:44am Feb 22, 2009 5:44am
Tell that to fulltime quant traders at the banks......

Quoting BBPI_fxtrader
is there really a profitable robot ?
sure, there are many.

but it think you didn't ask the right question.
your question should have been:
is there really a profitable robot for the long-term ?
no
why ?
because robots are mechanical, they take conditions of the market and place the order accordingly. but the market is not made out of robots, it's made by human beings, their emotions, their fears, etc. a system that may have worked for the month of january may not work for the month of february. you have to adapt your system to the market conditions,...
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