| There has been a lot of noise in recent times, or is it | | | | like how long has it been back tested, proof and |
| just hundreds of "loud" advertisers shouting about how | | | | history of winners and percentage of losers, I would |
| good their "Forex trading robots" are, and how easily | | | | also check out the reputation of the vendor or |
| they can make you pot loads of money on auto-pilot | | | | company attempting to flog it, what exactly can it |
| while you sleep or laze by the seaside. First and | | | | trade? I would be weary of claims like the robot can |
| foremost, what is a trading robot or expert advisor | | | | trade any thing and every thing in the markets, |
| (EA) as it is also called? An EA is programmed | | | | definitely Google it, and check it out on various blogs |
| software, "artificial intelligence" coded electronically with | | | | and forums. |
| a trading strategy or technique, and when fired up it | | | | On the other hand, I am sure an EA would be "most" |
| works exactly as it is designed to do. It does not have | | | | beneficial to an experienced trader. After all, it would |
| the ability to make any logical or emotional decisions | | | | certainly add to his trading techniques and arsenal of |
| whatsoever! | | | | indicators to further confirm his trade analysis, it would |
| I must be honest and say that common sense and | | | | certainly be a confidence booster in deciding if he |
| judgment must prevail here, my opinion about these | | | | should "pull the trigger", an emotional problem that |
| "Forex trading robots" is, yes I believe that there are a | | | | many a good trader does battle with! |
| few very good quality EA's out there, but how do you | | | | I believe that total dependency on an EA to trade my |
| know which is the right one for you, or compatible with | | | | account, without human input, would in my opinion be |
| your strategy and personality? Sure enough, a good | | | | "foolish and risky". Let's look at this in a slightly different |
| trading robot will do everything from analyzing your | | | | angle and apply this analogy - would you board a |
| trades, entries, stop loss and will adjust itself to various | | | | plane, if told that you will be flying totally on "auto-pilot", |
| market conditions and finally close out the trade, | | | | and without any human pilot monitoring the flight? I |
| without any emotions! There are some trading EA's, | | | | know what my answer would be. |
| which you can program your very own trading | | | | Remember, there are absolutely no guarantees that |
| strategy into it, or adjust the optimal settings for the | | | | any of these Forex trading robots will print money for |
| robots own built in strategy. | | | | you. Don't believe me? Then just read and re-read the |
| If I were ever to settle for one of these electronic | | | | vendors "Terms and Conditions" or "Disclaimer notice", I |
| thinkers, I would first like answers to many questions - | | | | think it will speak for itself! |