Resolved Question
Is a forex robot a good investment ?
Is a forex robot a good investment to trade small amounts of money relatively safely? I've heard that some of them have almost 90% accuracy. Which one would you recommend and how much should you know about forex trading should you know before you use one ?
over 2 years ago
Best Answer - Chosen by Voters
An Expert Advisor is a robot that utilizes an automated script for a trading platform software (Mt4) to manage positions and orders automatically. It is a mechanical trading system that picks starting and stopping points for trades as well as maintain a position, without requiring a trader be present to control those actions. Emotions play a big part in trading so having an automated system definitely removes that factor.
Different systems work on different market environments. And as we all know, the market always shifts. Given this, the system that you may be using may work at one point but not on the other. At least you should know some trading basics before you use one.
Having a system, though, would not hurt any trader.
over 2 years ago
Answers (1)
This question is very interesting so I searched some answers to share. And here are some of the interesting posts that I found from the BabyPips' Forum... Hope you won't mind me quoting some of the forum members. :)
"The answer is: no, they don't work." (by: o99015mh, FX-Men Honorary Member)
"Learn to trade by yourself. The robot will take all the joy of trading and eventually will take all of your money. If a machine can give you easy money everybody will be rich. There's no easy money man if you want it fight for it... and eventually you will get it." (by: ruilima22, Master Contributor and Member)
Please check out other links below for further reading. Cheers on your trading!
over 2 years ago
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