Do Forex Robots and EA’s Really Work?

Guys can ask the question do Forex robots work stay tuned hey trans warm welcome to all right. So do Forex robots worked or didn’t? buy Forex robot is something like an automated program that you’re gonna put in 24 m25 whatever it may be something that chugs away and makes trades for you based on an algorithm that’s pretty program many times you buy this you pay subscription to it you load it in you fire it away you Club into account and off it goes so the question is do they work and now that’s a bit of a broad statement right because there’s a bit of a broad question should I say because of course how do we define work this is what the key thing is how do we define work for me work is something that will trade profitably through specific market conditions now it could be all market conditions but knows when to shut off because there are some market conditions that are going to be conducive to trading differently and if some BOTS can shut off with some sort of filtering criteria doesn’t trade for a period of time that’s good enough for me but if it can trade and still trade during those times and make money that’s good as well So the question is is it something that has some long life to it and the answer is I generally think no because there’s always a system or strategy that works for a period of time and then for whatever reason it doesn’t work whether the edge is ironed out by other people trading the same thing whether the edge is just a run over luck or whatever the edge maybe is eventually it will end and so the problem you have with robots and Forex robots is they may seem great on the face of it you may seem like you have this kind of oh yes we’re chugging up a bit of downtrend chugging up and I’ve seen so many times this happen and then buying it does this because the conditions change and so the problem you’ve got is that okay well if you’re gonna trade it when’d you stop it’s like you know whoever playing a fruit machine where you kind of you gamble on to the next thing and it’s like okay do I go again do I go again do I go again you keep going until you wipe the whole thing out it’s a little bit like that it’s kind of double up double up double up double up lose it all when you start don’t know is going to come and so it’s very very hard to trade it with confidence because is that drawdown just one of those or is it kind of popped back up. You know when do you pull the plug on it and maybe you pull the plug on something here because you think is that an actual fact is that in reality guys trading it forward with a Forex robot is identical to trading the market because whatever you’re doing you’re trading the market now you may be trading one contract one pound a point ten pound a point and that might be a currency pair that’s no different totrading a bunch of trades on a market your trading exactly the same thing your trading the equity curve of that robot and you know it’s gonna pull back at some point and the point is you know the markets going to pull back at some point so you still want to make the decision do you stay in with the robot do you stay in with the market still exactly the same decision for you when you get to here and starts pulling back market starts pulling back you’re in it long what are you doing you’re stopping yourself out because you think it’s the end of it’s gonna just fall through the floor same with this you stopping yourself out here or was it just a pullback that’s a big big bit dig a bit deeper than this you don’t know so the point is guys is that they can work right they can work they can give you an uptrend in price for a long period of time or in your can equity curve for a long period of time but for longevity they’re always going to end up running down or stagnating or something is going from there’s no robot that will consistently for years on end just supply your money every single day that I know of maybe there’s someone out there but I doubt it because if you look at some of the returns from some of the hedge funds apart from a hft which is different even the guys who are you’ve got billions to spend the brightest minds come up with stuff that draws down from time to time and the decision you have to make as a retail guys okay so drawing down door and I stick in with it is a system screwed is the market different is it this is it that so my recommendation is this guy’s is to say okay if you find a robot that you think works it’s got a good uptrend then why not use it as a bit of a tool to help your discretionary trading okay so instead of just plugging in leann going off and sipping daiquiris on a beach or whatever you choose to do with your spare time then why not use the robots see when it’s taking the trade put it in a demo and say right well this has got a positive expectancy edge so far how can I improve that how can I adapt it how can I use the rules of this I know a lot of my hidden is just spitting out signals but how can I leave your job when it spits out signals how can I deconstruct I’m not necessarily mirror it but think okay well this is a trend following grow but it seems to go to this time has had a good run how can I use that to my advantage should I go in then should I kind of have a trailing stop show just that that’s it now some people just say well no miss of the system and I get it if you want the same results as the prescribed shot or displayed chart you don’t mess with the system but if you want some longevity you’ve got a few robots that are doing bits and pieces and if they all they do is calling signals robots a fancy name for it doing it for you calling a signal and you follow it but you use it as a tool to assist you then you’re in a much better position to come out when eventually this happens because you don’t want to be getting in the area because this could happen and you get much better feel and also helps you with your longevity in your training as well because you’re gonna have no when conditions change and you start to see and say well the currency pairs not trading the say anymore or the performance the robots not the same aha ok so how can identify perhaps when that when that conditions are changing what about if I use an ATX what about if I use this or I use that ok where I can improve perhaps the robots performance and I could choose to implement it and might be able to multiply that by 3 or 4 because you’ve got an extra filter on it says well actually that the performance of that is very poor none of these times why because it’s obvious because some choppy and it’s a trade wedding shop well let’s eliminate shop and let’s do it so you can see how you can use it for or even use it for your advantage excuse me as opposed to just you know letting it do this stuff for you and listen you’ve probably thought of coming here and be anti robots and it I’m not gonna go out there and put my money in with a Forex robot buy one and chickens and stick it on and let chug away it’s not for me to do it’s not my thing but I’m not going to dismiss them because I know there’s many signal providers out this is out there they’re doing a really really good job and they’re genuine and they’re proper and they’re doing their due diligence and they’ve got proper premises they’ve got proper I’ve got doing everything properly and there’s nothing to say you can’t use those guys but maybe to improve your trading is you use in conjunction with your own discretionary stuff you start to see what it does well when it doesn’t do so well see what it’s doing and and you’ve got a ready-made strategy if you like that’s there you know is got a positive expectancy over these time period that you can leverage on and that’s the point guys I think that the question of do Forex robots work for a certain time they do eventually they’ll draw down same with traders most the time good discretionary trader will recognize that and adjust and adapt and move on to a different strategy so lead which I’m the power of it they pull your eggs in one basket and don’t pile in your full net worth into a robot guys because whilst there are many good guys out there who are doing good stuff with them providing good signals and good service and are taking it professional and doing it professionally there are some guys out there who just don’t care and they won’t carry drawers down there they’re just there to take your fee so you know it’s like everything isn’t it go wash out were you doing alright guys see you next time take care bye you

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