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Which forex robot is the best?

  • #21
  • Oct 26, 2012 8:28am Oct 26, 2012 8:28am
About robots nothing good. In forex strategy builder free platform you can test every indicator robot. After some time market changes and robot ,, dies''. Period of life of robot is from 2 months to year.
  • #22
  • Oct 26, 2012 8:16pm Oct 26, 2012 8:16pm
Quoting akukaya
Yes, it is normal to be skeptical! and we should be careful with so many EA advertisement.

BTW, if you have your own profitable manual method and want to convert it to automate trading or want to test it reliable with previous market condition, why not coding it into robot and test it.
You may know under what market condition your method will fail.

If you guys have the idea or method and need an EA for that, I can do the coding.
Back testing shows 100%+ for 2012 year.
Interested, can test it in demo.
  • #23
  • Oct 26, 2012 11:25pm Oct 26, 2012 11:25pm
Quoting erforex
TFOT works good for me. Version with Neural net filter works more stabel then without it. http://iticsoftware.com/mt4-robot-tfot
I use TFOT within 2 years and very happy with this forex robot. My personal recommendations.
MQL4: idea * experience + creative solution
  • #24
  • Oct 30, 2012 4:23am Oct 30, 2012 4:23am
Quoting reynuevo
which forex robot is the best? is it okay to use robots?
I don't want to impose my mind, but I think that robots can't do such good forecasts as real people can. I always use real analytic's information.
  • #25
  • Oct 30, 2012 8:37pm Oct 30, 2012 8:37pm
A blanket statement saying that all EAs (robots) are rubbish is a little of the mark. There are plenty of traders out there, myself included, that use EAs to help with their trading. I use mine predominately to get a good entry when certain conditions are met. These usually happen when I am asleep or doing something else away from my trading platform. I then manually access the entry and either adjust the EAs parameters or manually manage the trade next time I am at my computer (I trade off 4hr and Daily charts).

There are EAs out there that do work, so please don't just ignore them completely. Do your due diligence if you are going to purchase a commercial EA as there are plenty of scammers out there (and I mean plenty), or design your own EA and have a good Programmer build it for you. Cheers. Jim
JAGfx
  • #26
  • Oct 30, 2012 11:31pm Oct 30, 2012 11:31pm
Quoting buff
A blanket statement saying that all EAs (robots) are rubbish is a little of the mark. There are plenty of traders out there, myself included, that use EAs to help with their trading. I use mine predominately to get a good entry when certain conditions are met. These usually happen when I am asleep or doing something else away from my trading platform. I then manually access the entry and either adjust the EAs parameters or manually manage the trade next time I am at my computer (I trade off 4hr and Daily charts).

There are EAs out there...
There are good and bad EA's but everyone has an expiry especially off the shelf. The trick is to know when to exit it before it self destructs.
  • #27
  • Nov 1, 2012 5:33am Nov 1, 2012 5:33am
Let me just cut and paste the advantages and disadvantages my shifu Mario Singh shared about Forex robot/EA:

"Advantages:
1. The EA has your trading plan and will stick to it consistently, regardless of how you may feel about the market. This takes the emotion out of your trades. This is viewed as positive since emotions can sometimes cloud your judgement and cause you to take trades that are less desirable (based on your trading criteria).

2. The EA frees you from having to watch and analyze charts since it can monitor them for you 24 hours a day.

3. By freeing you from looking at the charts, you can spend more time developing and fine-tuning your trading strategies.

4. You can set the EA to monitor many different markets (currencies, commodities, indices, etc.) all at once, giving you access to more trading opportunities that you can physically find and analyze yourself.

Disadvantage:
1. An EA will not have the ‘soft skills’ or feel of a human trader. A trader must always keep the bigger picture in mind and be keenly aware of current market news and events. In other words, a trader must be have an eye on the fundamentals that drive the market. An EA is based purely on statistics and historical data; it cannot take into account market fundamentals. To mitigate this issue, a trader might have to turn off the EA during periods of market volatility caused by news and events."


Personally I don't use robot nor mirror trading. My trades are driven by the fundamentals and technical analysis. Well, at least this is what I've learned for the past months.
  • #28
  • Nov 22, 2012 3:02am Nov 22, 2012 3:02am
Personally I haven't faced with a robot which really brings only profit. Robots have no feelings-it is their big advantage. But they work unimaginatively. And market is unpredictable and it doesn't always move on a programmed scheme. That's why I prefer to trade manually
  • #29
  • Nov 23, 2012 3:18am Nov 23, 2012 3:18am
EAs most definitely can work and do work. But why would anyone bother selling one that works? At least I won't.
  • #30
  • Nov 23, 2012 4:23am Nov 23, 2012 4:23am
If you really want to use a Forex robot, make sure you know its limitations.

Personally, I prefer not to use robots because I'm ‘fundamentally driven, technically executed’. Over the years I've learned to have an overview of fundamental events and news that might affect the market first before I decide to enter the market or otherwise.
  • #31
  • Dec 12, 2012 4:44am Dec 12, 2012 4:44am
I don't use robots so I can't tell you which is the best.

One thing I know is that if you've decided to use a robot, make sure you recognize its limitations and have it deploy according to how you would trade the market.
FXPRIMUS Introducing Broker
  • #32
  • Dec 12, 2012 6:59am Dec 12, 2012 6:59am
Quoting reynuevo
which forex robot is the best? is it okay to use robots?
If you use robots you're an INVESTOR and not a TRADER. Why? Because you don't actually understand WHY trades are taken.

Having said that, trade management EAs are fine if you actually understand what they are doing and why.

Don't be lazy, learn how to trade rather than relying on a program you don't understand. Why? Because you'll be completely lost if that program stops working...and you basically have to start from scratch with zero knowledge if you rely on them and they break/fail or stop working.
  • #33
  • Dec 29, 2012 1:50am Dec 29, 2012 1:50am
Quoting reynuevo
which forex robot is the best? is it okay to use robots?
Never put your money on any robots. You simply can't become a profitable trader by depending on any robot.

The best is you learn to trade by yourself. Learn price action. There are many sites that teaches us free price action strategies, in fact in this forum itself many traders have shared their strategies and methods. Do try them out on demo acct.

All you need is just one successful strategy to make consistent pips in Forex.

Good luck
  • #34
  • Dec 30, 2012 8:25pm Dec 30, 2012 8:25pm
Instead of investing $200 on the EA, you might take the effort to learn manual trading and start trading live on micro after 4 weeks of demo with consistent results [ the winning sort]. You stand a better chance of converting that $200 into $$$$$ than you do with an EA..
  • #35
  • Jul 8, 2013 12:48pm Jul 8, 2013 12:48pm
I have tried about 100 commercial EAs within 5 years, but only two of them work for me good. I think if you are looking for profit like 200% per month, it is impossible, but my goal 10% with low risk, and it is possible to find good fully automated or semi automated systems.
  • #36
  • Jul 8, 2013 2:12pm Jul 8, 2013 2:12pm
programmermt can you tell us which forex robots worked for you thanks
  • #37
  • Apr 15, 2014 10:42am Apr 15, 2014 10:42am
new 10 version of TFOT works very good
stats: http://www.fxstat.com/Mf.x
  • #38
  • Aug 18, 2014 1:06pm Aug 18, 2014 1:06pm
Hi,
I am newbie on this site.
And would like to enquire if anyone has the source code of the freescalping indicator or knows the owner. It i Is available on Karl Dittmann s web page but I doubt he owns the code as it is not available. and i would like to build a robot based on this indicator. Thx for your help in advance
  • #39
  • Aug 18, 2014 3:22pm Aug 18, 2014 3:22pm
There are very succesful ea/algo systems out there but you won't find them here or for sale. Your best bet is to get very good at in your manual trading/system and create robot based on that.

Banks hire room full of phds to create algos and even then they need to be fine tuned and watched all the time.
  • #40
  • Aug 22, 2014 3:59am Aug 22, 2014 3:59am
I've tried all sorts of forex robots over the years, in the end I learned to trust none of them. They simply cannot account for the human factor. One big news release and everything goes down the drain. Of course one can always check an economic calendar, but mistakes always happen. Still, if one is insistent on using a robot, I strongly recommend testing it on a demo account over a long period of time - at least for a good six months.
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