This Is How We Want to Become Millionaires!

Questions and StoriesCategory: QuestionsDo Trading Robots Work?
Gareth White asked 4 months ago

Do Trading Robots Work?

I always see adverts for trading bots and curiosity makes me want to try one to see if it work.
They are based on algo’s and respond based on criteria being met like ma crossover, divergence etc so surely they must get it right sometimes.
Has anyone tried any and what results did they generate?

Iyanfish700 replied 4 months ago

I sure don’t work. Why ? The essence of trading is to follow market sentiment, the results of the thinking of many people who are always changing based on analysis or news that appears. And this can never be anticipated by trading bots. I think that good instinct and finding a tested trading strategy is what makes it successful .i sure don’t work. Why ? The essence of trading is to follow market sentiment, the results of the thinking of many people who are always changing based on analysis or news that appears. And this can never be anticipated by trading bots. I think that good instinct and finding a tested trading strategy is what makes it successful .

fransisca replied 3 months ago

Nice opinion

fransisca replied 3 months ago

Hmmm i’ll yry to get thay opinion

Login to comment.
27 Answers
Vahid Chaychi Staff answered 4 months ago

No, they won’t work in long-term. The ones that help you to analyze the chart can be a good help, but the auto-trading ones are dangerous.

Login to comment.
Edward Duffy answered 4 months ago

I have heard from respected traders that trading bots do not work and they a waste of money.

fransisca replied 3 months ago

Same with me

Login to comment.
Nnaemeka Victor answered 4 months ago

Yes they work but they do not guarantee success. Infact your success rate will be very poor while failure rate would be very high

fransisca replied 3 months ago

Agree with this

Login to comment.
Gareth White answered 4 months ago

Thanks for the comments guys. Its always good to hear other opinions to make a balanced decision. I think a lot of bots advertising works off of people having those initial successes so they post good things but then become despondent when the losses start racking up

Login to comment.
Kenneth Ogbonnaya answered 4 months ago

I have used trading robot, it does not work, it only work when you don\’t use stop loss.

Login to comment.
Eli Davis Keinamura answered 4 months ago

Robots do not work .they can work for a short time .robots do not monitor the behavior of individuals in the financial markets.

Login to comment.
Ahmad Khasan answered 4 months ago

I never see any value in automated trading robot if the robot replaces the trader’s role completely. In my opinion, the furthest extent of any robot is just to provide supporting information and data for the trader to make a trading decision, if any is required. I just believe that the our built-in cognitive instruments are a lot better and far more sophisticated than the smartest robot that will ever be discovered by human. We just need to sharpen and discover the truth about our cognitive instruments (mind, intuition, logic, etc).

James0608 replied 4 months ago

Forex robots do work to some extent . In a normal trade setup it’s working very fine . But it normally fail in drastic market movements which need very big account to sustain the big movement . If it’s in a opposite direction , the small accounts will be stop out by brokers because sudden movement of up and down in very short period of time .

fdk191503 replied 4 months ago

Thank you for the reply. Indeed, the discretion of the trader is the primary factor. The robot will be of value if the trader know when to activate it and when to shut it down. If the current market situation is suitable to the robot characteristics, then the trader should use the robot. And vice versa. However, the power to decide whether the current market situation is suitable or not to the robot characteristics is solely in the trader discretion. Thus, robot is no value if it means to replace the trader role completely.

Login to comment.
David Matlala answered 4 months ago

From what I’ve heard, robots work well when dealing with small changes in the markets. They can’t work in all situations and will make you incur heavy losses in such cases. You’ll need a big account to accommodate their shortcomings.

Login to comment.
Emmanuel Enya answered 4 months ago

In the long run, trading robots would surely disappoint you

Login to comment.
Gareth White answered 3 months ago

Great to see such a discussion on my question. Clearly shows that the robot sellers have capitalised on the fact of indecision in traders views. Some say yes they work and some no and others are saying yes & no!
I think by discussing on here with no-one selling a robot we get honest opinions and can make educated decisions rather than emotional ones

fdk191503 replied 3 months ago

It is the primary benefit of grouping oneself with positive people. Their opinion help us build an unbiased opinion and a comprehensive perspective on thing matters to us.

Jackso replied 3 months ago

Fdk, that’s very true, now one can make an informed decision on whether to or not to trade using bots.

Login to comment.
Hillary Ogana answered 3 months ago

I have never tried one.

Login to comment.
Leno Jean Pierre answered 3 months ago

Forex Robots are designed to help traders who want to use automated trading methods to assist with the technical analyses and repetitive elements of forex trading. They are highly specialized computer programms which have been created to carry out many different trading functions. But do they really work?
The answer of this question very much depend on your expectations of the robots. Forex robots are programmed to enter trade orders by substituting the need for a Human Trader. The actions carried out by forex robots are determined by the technical analyses tools they have been setup with. While most forex robots work in the sense that they are programmed to automatically carry out trades, unfortunately they are not foolproof, so they can not provide any guarantee of long-term profits.
At best, they are a useful tool which can be use by forex traders to help make informed trading decisions.
At worst, they are scams through which traders frequently End up losing money.

Login to comment.
Gareth White answered 3 months ago

Great insight jeankomaro – spot on with your answer. Unfortunately trading robots are generally designed specifically to help a particular strategy and if you do not use that strategy correctly they will never work you. They all have their limitations and on average will lose you more money than they will gain. Do your research always test on a demo account with the same settings as a real account as see if it works before you try real money

Login to comment.
Leno Jean Pierre answered 3 months ago

Yes Trading Robots work, but you should know that they only use their programming and the data they gather relating the past performance to make predictions. If you choose robots try not to rely on it completely when it comes to carry out your trading activities, you need to apply your own observations and research.

Login to comment.
Kenneth Ogbonnaya answered 3 months ago

Not at all. Trading robot is a bunch of mess.

Login to comment.
Leno Jean Pierre answered 3 months ago

Yes ,Robots trading work something, it can be very useful, but don’t rely on this programming machine ; some activities must be performed by yourself.

Login to comment.
Gareth White answered 3 months ago

I think the biggest variable in trading is human nature and no matter how good AI is it cant quite match the human brain and the reaction it has to news and other influences. Its emotion that robots cant handle

Login to comment.
Nnaemeka Victor answered 3 months ago

I THINK TRADING ROBOT AND EXPERTS ADVICE(EA) ARE THE SAME. THEY DON’T GUARANTEE SUCCESS.

Login to comment.
Leno Jean Pierre answered 3 months ago

I have never use robot to trade, however base on my researches it seems that It can works, but you must not rely on it. Robot are just robot. They can only perform the function they were originally created to carry out. They are not able to use any elements of creative thinking to envisage what might happen in the future.

Login to comment.
Kenneth Ogbonnaya answered 3 months ago

Trading robot is a waste of money. Is much preferable to learn how to trade than depend on trading robot.

Login to comment.
Leno Jean Pierre answered 3 months ago

It works and can perform many things in trading, but its just a robots ,don’t rely on. it completely .if you want to make profit and have a tranquil heart better learn how to trade properly and apply it correctly in front of your screen.

Login to comment.
Gareth White answered 3 months ago

Just had a friend of mine try a robot called Forex Fury, he said the trades advertised were very impressive but since setting it up he has had nothing but loses.

Login to comment.
Leno Jean Pierre answered 3 months ago

Yes Mr Gareth, robots trading can not works in my understanding, it’s something that is already programmed to perform actions.For me it can not analyze the market accurately and if you want to make profit you must learn how to trade properly.

Login to comment.
Kenneth Ogbonnaya answered 3 months ago

Trading robot does not work at all. However I do not say people should not buy it, but, is much better you learn how to trade.

Login to comment.
Nnaemeka Victor answered 3 months ago

Some robot works but they serve as guides to making trading decisions

Login to comment.
Leno Jean Pierre answered 3 months ago

I heard that it works sometimes, when you use it as a guidance not not rely on it. It can not perform trading daily activities like technical analyses, finding support and resistance levels.
The best thing is to do your trading on your own.

Login to comment.
Kenneth Ogbonnaya answered 3 months ago

My answer to this question is not a means of damnizing someone business, rather I am trying to be sincere, Trading robot does not work.

Login to comment.
Login to answer.
Scroll Up