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Thread: Does Anyone Trade With Trading Robots?

  1. #1

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    Market Intern
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    Oct 2010
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    Default Does Anyone Trade With Trading Robots?

    Hi! I heard that everyone can use free robot program to earn money by trading forex in markets. Is it true or just a scam? If it is true, how does it work? Please share with me your opinion. Thanks.

  2. #2
    Price Action Trading Course Brendan Egan's Avatar
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    President & CEO
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    Feb 2010
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    Default

    Hi sonjeriff,
    Welcome to the site. Trading truly is an art form and I have not yet come across any sort of successful trading method that does not require the complexities of the human mind to execute. Therefore, in my experiences, robot trading, automated trading, and black box trading is not an extremely successful way to trade.

    Anyone else out there I would love to hear your feedback on this!
    Price Action Trading Course

  3. #3

    Title
    Demo Trader
    Join Date
    Feb 2010
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    5

    Default Robots

    Automated trading or black box systems are marketed to new traders for a reason. Most claim returns that are easily proven untrue using simple 7th grade math. They do so by reducing the time frame down to a small enough increment so the results appear believable. I have even seen claims of 80% profit a year.
    In fact, I have yet to see even one that did not either promise or imply returns that, if compounded, would turn the trader into the next Carlos Slim.

    Next time you you see someone selling a black box or any other type of system claiming 80% a year, think about this-
    80% a year compounded would turn $10K into over $455 Billion in 30 years.
    Why doesn't the maker of the black box take a 'second' out on his house and become the richest person in the world instead of selling a trading system to newbies?

    Cheers
    Tek

  4. #4
    Price Action Trading Course Brendan Egan's Avatar
    Title
    President & CEO
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    Default

    Great points, Tek! Always enjoy hearing your side of things.

    I think this is the only machine that can consistently produce money:
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    I think a lot of uninformed traders, especially newer ones, get sucked into the promise of returns with trading robots and black box systems. Unfortunately, nothing in trading is guaranteed which to me is the first clue that these systems don't work.
    Price Action Trading Course

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