Do Forex Robots Work?
Like most traders youíre probably asking yourself ďdo forex robots work?Ē The answer is yes, they do. The basic truth is that with a professional forex robot and the proper setup your trading can improve greatly. Thousands of traders use forex robots every day to find real pips.
But not all forex robots are the same. And how you set them up is crucial to their overall success. Donít be intimidated though. This guide will help you find your way to real automated pips in five easy steps. Letís get started.
Step 1: Finding A Forex Robot That Really Works
This is obviously the most important step. To make real pips youíll need a forex robot that truly works. So how do you know if a forex robot is a winner? By making sure it meets these three criteria:
- Built upon sound trading theory and logic. No magic tricks.
- Up-to-date trading results you can view anytime.
- Created by an established developer.
Do forex robots really work? The Vader Forex Robot certainly does. It is a prime example of an EA making real pips for traders.
- Vader Forex Robot
Logic: Uses daily Fibonacci levels to trade the price coming and going
Style: Large trades with good frequency
Performance: Todayís latest trades can be viewed here
- Ganon Forex Robot
Logic: Uses Strand Theoryô system to trade reliable trend shift signals
Style: Adaptable between high and low frequency
Performance: View its latest trades by clicking here
- Falcor Forex Robot
Logic: Uses price action to find support and resistance triggers
Style: High frequency trader
Performance: Latest trades can be viewed here daily
Step 2: Choosing The Right Lot Size
The biggest mistake new traders make is over trading their account. Example: You attach a forex robot to three charts. You will need enough funding in your account to have at least three forex trades open with enough room for drawdown . Nobody wants margin calls.
Ganon is proof that forex robots work. Using its advanced logic it finds large price movements easily via trend shifts.
Step 3: Choosing The Right Currency Pairs
This step is easy. Find the three pairs with the lowest spreads. Then attach your forex robot to them. Avoid highly volatile pairs like GBPJPY.
Step 4: Using Your Forex Robot Correctly
Pay attention. Most forex traders go astray on this step. Weíve created what we call The Rules Of Automation. Follow them and your forex robot will hum along smoothly:
- Your forex robot needs to be on and running whenever the markets are open
24 hours a day five days a week. If this isnít possible look into using a forex VPS remotely instead.
- Give your forex robot enough time to grow
Every forex robot has highs and lows. Let it work and do its thing before deciding to give up on it.
- Trade manually on another account
It is important to keep your own forex skills sharp. But donít eat up funds and bring about margin calls on the same account your forex robot is using.
- Try different brokers
Brokers love to step all over forex robots. Open a demo account with another broker and see if you notice an improvement.
When forex robots work their equity curves are a glorious thing.
Step 5: Add A Second Forex Robot
Forex robots work best in pairs. You can smooth out your forex trading instantly by adding a second forex robot. While one forex robot is looking for trades the other will be in the middle of a winning streak. Consider them a team that watch each otherís backs.
So Do Forex Robots Work?
Yep, they do. Use a professional forex robot. Fund your account properly and use a safe lot size. Choose the right pairs. Follow The Rules Of Automation. And youíll be on your way to better forex trading.
Forex Robots That Work
Want to find Forex robots that work? Look no further. We show you two huge trades our robots found just last week.
Everyone wants a Forex robot that works. But there are so many on the market it is hard to tell which ones work and which ones donít. We figure itís best to lead by example, so weíre highlighting two massive Forex trades our best robots found last week. If youíre searching for Forex robots that work, here they are.
The HAS MTF is a Forex Robot That Works
Considered by some to be our best Forex Robot, the HAS MTF is a shining example of a Forex robot that works. Itís been around over 5 years, is in use daily by hundreds of customers, and has a proven track record. In mid January it opened a trade that ran until just this week. Did we mention it was worth 4500 pips? To see the full setup, click the image to the right.
While trades this big are rare, itís nice to know they are still out there. Donít forget this Forex robot earned this in January. You wonít find another Forex robot that has the reputation of the HAS MTF. Itís on a whole different level from the competition.
More Forex Robots That Work
Another Forex robot that works is the Fractal Breakout Indicator. It found the 1100 pip trade to the right just last week. It was also our top performing robot for January 2013. Take a look through its performance page and youíll quickly see itís no stranger to being a winner. If you want reliable profits throughout the whole year, this is your best bet.
We highly recommend the Fractal Breakout Indicator this month to get you through the ongoing Forex currency wars that have been all over the news. The Fractal Breakout Indicator was so successful, we built another robot based on it. Canít get much more reliable than that.
The Best Forex Robots That Work in One Bundle
We could talk all day, but the best way to be sure is to try them for yourself. Weíre offering both of these reliable robots in one easy package. Pick yours up and see what all the fuss is about!
Forex robots that work
Still have a question? Ask your own!
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Short answer: Yes. Now, if You think You can whip up a strategy over the week end and watch money roll in while You sip daiquiri by the pool, think again. Here is my story in Forex autotrade.
In late 2003, after a short stint on the Sell side a strategist, i joined a start-up HF where i built the portfolio management system, trading system for multiple funds. I joined another one in 2005 because i wanted a more front office role, picking stocks. In 2007, i thought the game too easy and everything would end in tears, so i docked in Fidelity as a dedicated short seller. Tired of the boom and bust performance, i embarked on a programming journey. In August 2011, i started running a 100% systematic strategy developed on @wealthlabWealthLab (highly recommend the platform BTW). Strategy ran very profitably until the end of 2014, when i left Fidelity. In March 2015, i decided to re-write the strategy on Metatrader 4. Strategy has a proven track record, conversion from C# to C++, and the help of a senior programmer with the US Department of Defense, canít go wrong, right?
So, we did and launched. We had such an Ackmanish performance that we pulled the plug after less than a month. Back to the drawing board forÖ 2 years.
I thought i had the right pedigree, but nothing prepared me for the challenge. It is by far the hardest endeavour of my career. It makes impossible problems such as understanding the opposite sex easy in comparison.
Forex has three distinctive features: 24/5 trading time with uneven volume, crushing leverage, shorter time frames.
These are the lessons i learned
- Forex is a risk management exercise
The original strategy ran on equities daily bars with no leverage. Forex runs at higher frequency (30, 15 or 5mn). At daily bars level, the market has time to digest information. Signals are not so noisy. At higher frequency, the noise to signal ratio detetiorates significantly. Patterns do not form well.
With crushingly high leverage (100:1 and above), mistakes are costly. So, the game is to minimise drawdowns when strategy stops working and capitalise on the winners. The only way to do this is to develop an adaptive position sizing that will collapse risk in drawdowns and re-accelerate thereafter. We have developed a convex position sizing dll.
2. Time is the wrong container
Robots are designed to run on time charts. Now, volume is not constant throughout the day. Markets donít trade much in the middle of the night but they are active between Europe and US open.
Our robot would detect valid signals during liquid hours and false positives during low volume hours. Time is the wrong container. BTW, this is the same reason flash crashes happen. Poorly designed algos treat low and high volumes uniformly.
Our solution has been to use constant volume charts. A big Thanks to Scott Phillips for introducing me to tick charts.
3. Forex is not a Christmas tree of indicators, moving averages, Fibo
Many traders use multiple indicators, oscillators. Charts end up looking like Christmas tree. This junk is redundant, fragile. Complexity is a form of laziness.
We use sophisticatedly simple rules that use onTick price only, no lagging derivative of it.
4. How to handle false positives and the science of stop loss
The shorter the periodicity, the noisier the market. Compounding effect of false positives + high frequency = rapid erosion of the equity curve. Stop losses are costly. So, the game is about avoiding stop losses and managing false positives.
These are thorny signal, stop loss and position handling issues. In fact, whatever the problem, better entry is rarely the right solution. We have developed three solutions:
- scale out to reduce risk as early as possible. This comes from my experience as a short seller. First priority after entry is to reduce size/risk so as to mitigate upcoming short squeeze
- French stop loss: markets are noisy. Patterns develop over time. So, we give enough wiggle room to each position to fully develop. stop loss is fashionably late, hence its name: French stop loss. The flip side is smaller position size
- Multiple time frames: traders who look at multiple time frames want to use longer trends. We have found an inventive way to spot significant longer trends not by using different time frames, but point of significance within a single time frame
- Time is a form of asset allocation: sometimes price goes sideways. Looking at different time frames, either short and/or longer, there are perfectly valid trends. So, the same strategy can be deployed across various time frames so as to hedge or supplement the pivot time frame
5. Philosophy, beliefs and concepts
At the end of the day, an automated strategy is the extreme formalisation of a philosophy. Complexity is a form of laziness. Every challenge required changing perspective, unlearning, simplification. This is the hardest and never ending part. Appleís iOS will never be finished, and neither will our strategy.
In China, women usd to have their feet wrapped in banadage so as to make them petite. It is said that every centimeter was worth a barrel of tears. Every month on the strategy has brought its own barrel of tears.
Over the last two years, I have eaten enough humble pie to open an international bakery chain. It has been a long painful journey of unlearning and purification of concepts to their essence. If i had known beforehand what i was up for, i would have looked for a job in the HF world. This is much more cushy than designing a Forex robot
Going in, i thought the strategy i used to run was sophisticated. Now in retrospect, it seems crude, blunt disrespectful of the markets. You must respect the markets for one reason only, because markets certainly will not respect You back.
Forex robots work, but they are incredibly hard to design and complicated to program bug-free.
Ironically, it is easy to develop the skills to assess robustness of autotrade strategies. Rather than trying to program your own robot, i would focus on analysis existing ones. Calculate a weekly (if available) monthly:
- Common Sense Ratio to assess robustness amidst drawdowns
- Performance/Ulcer Index to determine the quality of performance
- ask about position sizing and Voila
Now, the above paragraphs may discourage any aspiring strategist. Here is the greatest lesson of all: building an automated strategy is like building a timepiece. Until the last cog fits in, time will be off. It will be one hell of a tourbillon but persevere, donít give up. You might be one cog away from sipping daiquiris by the pool and watch the money roll in
Happy New Year 2017. May it bring peace on earth, solve world poverty, ressucitate the dodo, and make deMark indicators work
PS: the guy who invented vodka red-bull should be court martialed, after receiving the Nobel prize for chemistry
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Forex trading is versatile due to the different trading styles, strategies and systems that can be used. In the Forex market, there are traders of all levels of proficiency and each will have different ways of working. One of the features of Forex is the split between the traders who want to manually trade and those who want to utilise automated trading . This article will focus on automated trading. Automated trading requires a lot of research to find the right software that will perform trades correctly.
Sitting back and letting an automated device do the work for you can be a real temptation, and it's here that automated Forex trading robots come into play. An FX robot is a computer program that is based on a set of FX trading signals which helps to define whether to purchase or sell a certain currency pair at any particular time.
Trading robots are available 24/7 to Forex traders and can easily be bought over the internet. It is imperative to confirm that there is absolutely no such thing as the holy grail of trading systems, regardless of the type they belong to. The question many ask is do Forex robots work, or will choosing one turn out to be just another commercial scam? We've prepared this article to address this question.
How does a FX robot operate?
FX traders want to use robots just because they hope to make easy money from the Forex market without having to devote a lot of personal time to it, or do anything manually. Those who use robots have to find a good currency pair and the perfect time frame to trade in it to maximise their profits.
Some Forex robots are capable of scanning numerous charts in a way that humans physically can't. In addition, robots are developed with particular parameters needed in making trade decisions. With implanted trading signals, they determine when it is appropriate to trade, or conversely not to trade.
The best Forex robots suggest solutions to find profitable trades even in unstable markets when the actual trending direction is unclear. Robots will follow the best trend to enlarge profits and perhaps eliminate the chances of potential losses. Trading against the trend will eventually lead to loss after loss, whilst trading with it increases profits no matter what method or robot is used to trade.
However, what must be remembered is that the majority of robots trade within a certain range. They make a particular amount of pips inside the tight range during the slowest time on the Forex market, and they regularly set a few pips target and may not even use a stop-loss. They can be classed as successful, as they do make profits in each trade even if it is only a few.
When an unanticipated and strong range breakout occurs, it just wipes out the small profits they have made. Some robots which are promoted as the best Forex trading robots, can gain profit in a positive trend, although they lose money in a choppy FX market, so the discovery of a great trend to follow is an essential task.
The effectiveness of robots
Though FX robots promise to make beneficial trades, not all of them are what traders expect them to be. Moreover, the federal government considers most of them to be just scams. In a similar way, you are not likely to find any article in Forbes, the Wall Street Journal or any other respectable news source that promotes them.
What is more, even online robot merchants try to move their robots in rank by claiming that their opponents' ones are scams. A lot are advertised with false claims by people who have made serious money applying these systems. The truth however is that a great number of investors and traders have lost a lot of money using so called free Forex robots that work. There have even been circumstances in which whole accounts have been wiped out.
If you really want to know how effective robots are, then you should check out reviews and authoritative testimonials online. Although they can scan millions of different charts within seconds, most often 90% will turn out incorrect information. This is understandable - FX robots are just robots. Even though they are capable of performing highly sophisticated tasks and many at once, every Forex robot or Forex robot free is still deprived of creative thinking. They cannot imagine what may take place in the near future as their functionality is restricted to how they were initially programmed and past performance.
For traders who use robots, they should not fully depend on it to conduct all of their trading activity. Ultimately, trading demands a considerable amount of human research and observation. Additionally humans, not trading software, can actually follow up with diverse economic conditions and keep up with the news in the financial world. Forex robots, which are thought to be Forex robots that work, can solely find positive trends as well as trading signals, but occasionally their functionality is unfavourably affected by either jittery trends or false information. In addition, hackers and viruses may also hinder robots.
All in all, automated FX trading software, or Forex robots, are nice opportunities for their designers to make money but offer little benefit to you as a Forex trader. It is a debatable question - will a robot make you rich, or will it just wipe out your trading account ?
One thing is known for certain - their developers can be made millionaires. Smart designers are aware that people yearn to make a lot of money and try to ensure that robot Forex trading appears to be one of the finest ways they can achieve this. Nonetheless, they exploit this as a possibility to design a robot or any other software (or even a DVD, webinar, seminar, e-book etc) to sell and prosper.
We would like to draw your attention to one interesting issue. If the robots they sell could actually make a huge amount of money through trading the currencies, then what is the point in selling them to others and not utilising them on their own Forex accounts? The answer is logical - robots can barely make money for a Forex trader. Can a $99 FX robot or free Forex robot really make hundreds or thousands of dollars every month? If it could, you have to ask yourself - would it really be sold for such a relatively low price?
If it was this easy to earn money utilising robots nobody would ever go to work. It is possible that robots can make money for a restricted time period, but then they can start losing - and the money this best Forex robot earned with one position may disappear before you can claim it. In addition, the vast majority of robots are scalpers. They make just a few pips with every position they take - and they set a considerably tight target. The chances of surviving with such a strategy are quite limited for a trader.
Successful FX trading is based on knowledge, proficiency and skill. It involves analytical thinking and something visual. When looking at what are Forex robots, it is clear that they cannot properly work in this way. Market conditions tend to change all the time and only an experienced Forex trader can distinguish when to enter the market, or to stay away.
**For more questions, any help or something other about Forex and Stock market, you just can contact us here with a comment or in our website - Forexgdp!**