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Are Forex auto-pilot trading robots legit?
If so which would you recommend and why? Is it possible for software to trade for me and make me profit? If so, how does it work?
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No.
There are no short cuts. No sure-fire methods of hitting the ball every time. No automatic money making schemes. About 50% of these are scams. The other half are “forgetting” to tell you that 99.9999999999% of the success stories are just pure, random, luck that does not persist.
(For the little guy. If you have billions to run with there are some ways to game the system…but that’s not really the same thing)
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LikeDislikeI have bought many forex robots but nothing really worked for me. They might work only for a few who knows when to start them and when to stop them. But one forex robot looks promising which is megadroid. I backtested it demo account it was good. But I have never really used it in live trading.
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LikeDislikeA lot of the well known forex robots do work and they work well but only if you know how to use them. Forex robots have to be configured and set right to work. Understanding how to use a robot properly is just as hard as learning how to trade properly. So in the end there is not too much point in them. The main thing I use to help me trade forex is etoros open book. more info on etoro http://www.bestforex-broker.com
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LikeDislikeHi Eagle..
I don’t think robotic/automated trading will help us because it could only doing one part in calculating forex movement. In my eye, there are 3 factors influenced forex movement: fundamentals, technical aspects, and market sentiments. I’ve been telling most of my investors’ friends for not using any automatic system.
Why?…the maximum accuracy provided by robotic/automatic system is not more than 33%, because they could not calculate fundamentals and market sentiments, so the remaining of 67% will be remaining as a very painful hammer to the users.
In order to be successful in trading/investing at currency/forex, you have provide yourself with a lot of hardworks, readings, studies and ressearches. 13 years ago, when I was a beginner investor in stocks, options, commodities and forex, the first 3 years was very painful with lots of loosing and agony. But, never give up to reach some levels at investing because it is a LIFETIME arsenal for us to make our dreams keep on alive.
You can visit my trial website at http://foropts.webs.com/ (but sory, it’s still underconstruction untill mid of 2011, but membership is opened because we based communication on email corespondency)
Wishing you successfull investings
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LikeDislikeI see there is a pro and con, most of the time it involve a software to run it.
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LikeDislikeForeign Exchange Investing is legitimate as are the robots you can use. Guarantees on profits are not legal. The securities and echange commission would step in on someone making guarantees.
For forex training see http://www.forexmicrolot.com
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LikeDislikeMost forex auto-pilot trading robots are NOT legitimate. However, a few are. One that I have been testing on a live, real-money trading account is Forex Megadroid. This trading robot has gained a pretty good reputation among forex traders, so I think it’s legit.
In any case, it’s making money on my trading account…not the stellar profits it claims on its marketing page, but still, the robot is profitable and not losing money. You can see my results in the link below…
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LikeDislikethe big fish have robots trading for them, if they have software trading for them making profit.. then in theory, why not you? however for you to get a good robot would be difficult.
how it works: the thinking a trader does to trade successfully.. you just put that into software (the best chess playing computer beat the best human chess player, same with checkers and backgammon.. this is just another application).
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LikeDislikeIt is legit. if not, they won’t selling this robots don’t they?
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LikeDislikeForex trading is the process by which you buy and sell
currencies of different countries. This can be done online, on
your personal computer or on a virtual server. You can trade
manually, which requires a lot of time reading and studying
charts and also waiting for the right market condition to enter
a trade, or you can use an Expert Adviser also called forex
robot. The advantage of forex robots is that you do not need
extensive experience in forex trading, you just follow a few
steps to set the software and load it on to your platform and
if it is a good one, you will see profits in your trading account.
When looking for a forex robot, consider how long it has
been on the market, whether it has a support sites or forum
where you can ask questions and get answers in a timely
fashion and finally check to see if the robot is regularly
updated for free or course. And yes there are quite a number
of legitimate and profitable Expert Advisers.
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LikeDislikesome work some dont, my personal favorite is fap turbo, but you have to use it on
fxcbs or i am fx brokers to get the best performance.
You can get fap turbo here: http://tinyurl.com/64gfox7
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LikeDislikeYes:) These so called robots are also known as Expert Advisors (EA) which analyses the market with different algorythms. Basically forex robots is simplu an automated way of doing things instead of you doing them manually.
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LikeDislikeCurrently, there are some reliable forex robots that can trade for you legally and make profits for you.
Please refer to the reviews for more info.
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LikeDislikeYes they are. I would suggest you visit a number of Forex Forums to research the various products and then join a discussion/help group for the Robot you choose.
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LikeDislikeGo see my review site about Fap Turbo Forex completely legit!
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LikeDislikeThe famous FAP Turbo, it’s a robot build in the old Forex Autopilot engine. This robot wins the first place for being the best robot in terms of diversity
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LikeDislikeyes i have if u want pls mail me kartindian@yahoo.com
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