I would like to start trading on Forex and i have heard that they are robots that do this really well. can anyone share their experience with such. I don’t want to waste my time or money. Please share any other business opportunities you may have as well. thank you.
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that's not a good idea. people don't sell strategies that beat the market, they keep them a secret. This is just random shit with the probability of you losing your money with no guarantee from their end.
Basically, they're selling you the idea to play roulette while doing a handstand and touching your nose.
Find your own idea that statistically beats the market (make sure you test it alot), and then trade.
Best to you
All my broker friends that have tried Forex are now much broker for it.
In all seriousness though, Ive known about 15 guys and girls who have given Forex a shot, and they all lost money, and the fees were outrageus. Those with online trading programs did no better than those without.
A few robots (EA's) work well. There is only one problem….. they only work well for the highly experianced & successful trader. If that's not you……. don't use a robot until you have at least 5 years of successful trading under your belt.
I have tested many programs for auto trading and including this. Most of them (99%) are not working. Now I test one program – Gomega Xray,and I am very impressed with the results for about two weeks. It made me for this two weeks almost 600$. But the program is sold out on the site. I bought it from Tradebit for 150$( on the site it cost 5000$, but now it is sold out).
http://tiny.cc/Forex_Robot
First, you should know that Forex is not that easy. Do not believe those who may say it is!
Now, there are some good robots that MAY help you. Some are scam. Others are for real.
Simply put, a Forex robot is a program that attempts to take the guess work out of trading currencies. Currently there is a lot of information floating around the internet about these products. Like any other tool, it needs to be used properly in order to be most effective.
Like I hinted, in order to use this tool the right way you need to understand a little bit about how it works and where it is best applied.
A Forex robot is a computer or computer program that monitors currencies and does calculations to figure out the best time to buy and sell. These programs help to take some of the guess work out of buying and selling and can help a trader to identify currencies that meet certain criteria, or when certain currencies perform in certain a way. Most of the selling points of Forex robots state that you can simply set them and watch the cash come pouring in. While in some cases this may work, in most cases you are going to need to carefully monitor the program and make sure that it is adjusting to trends in the market. While they can be very profitable they may require a certain amount of intervention to be run effectively. Used properly, and if you have the patience to get to know the programs, they become a powerful tool.
For this automatic approach, forex auto pilot turbo has worked wonders for me: http://www.forexapt.com/. It offers, among other features, high spread protection system and automated risk scaling. They say "95% winner". Well, only the bottom line counts. In this regard, it has really delivered for me.
I had been watching the forex robot market for months, waiting for the right software to come out. I believe I have found a great one.
Really, get the fundamentals first. Then get your own system and test it offline (do that for weeks, if not months, until your system is well tested), whether you use a robot or not. It really takes a few months – a lot of patience and resilience. But if you are made for it, it is worth it. Read about the psychology of trading (never to underestimate). And then you should be fine.
Good trading!
Mark
I have had a few years with Forex. I have used quite a few different EA's. The guys that developed the best one i have used so far are about to put out a new one in a few weeks. i have been testing it and it is performing very well. That being said, not everyone can trade with a robot. you still need to know what you are doing. They make it a little easier with almost total automation once you get the settings tweaked. Check this one out here.
Essentially, you get two types of Forex robot.
The first is a scam which is loosely based on some lame 'system'. The second is an actual automated system which has been correctly programmed and works very well.
Because the FX market is so under-regulated online (anyone can get away with almost anything), there are sh*t load of crappy "robots" that will just sit there and lose you money.
I know exactly how these scams work – I've been a victim of several. Which is why I was so pleased when I finally found a system called "FAP TURBO": http://forexfastforward.com/fap_turbo_review.html
FAP Turbo has a bunch of screenshots on its homapge showing LIVE TRADING RESULTS. Most of the scams out there will just rely on some lame backtest results to prove their worth…
You can read more about FAP Turbo here: http://forexfastforward.com/fap_turbo_review.html
I have been using Forex Auto Pilot Turbo for months now. Weeks of testing and then fine-tuning. Have gone live for more than 4 months now and been doing really good. Like someone pointed out, that does not mean you have nothing to do. But yeah, it works really well FOR ME.
Yes they are very helpful.
check out this good source.
http://yousuckatstocks.com/myforexstory/?cat=1
I found this site very helpful when I was starting out, and it's how I found out about FapTurbo – a truly amazing program.