What is a Forex Robot?

[superhero]

Originally Posted by traderxxx

robots are usually a waste of time and money....the only good EAs are the ones that are managed by some sort of money manager than tweeeks and twurks the EA during the year bc there is no 1 system that will be constantly making $

Not usually. 100% waste of time and money. When I started learning forex I came across many of these 'superb' tools. They say that they will make money for you ? Easy money with no effort .. Is that true ... NO!
If forex robots were so successful or some of them were, then they should double and double and double the money invested and suddenly would be making millions.
Even if some robot is successful it would be for some short amount of time because the market is changing constantly, if you could predict what robot is good and switch them at the right time, then you don't need them. The real trader is you, not some automated thing ..

[Guru]

Robots are always a benefits sometimes and sometimes it just make you lose. Theres no good EA out there that i could probably say is awesome.

I have being using KangarooEA and i'm with it although EURUSD are unstable at the moment.

[salem]

hmmm I would not trust an EA so much !! I would trade by my self !! even I know that EA's are not so bad recently but you never know )

[binarypartners]

Robots as automated trading systems are also used in the forex market on a certain number of forex trading platforms. These systems are programmed under a certain coded programs that are referred as trading robots.

[aman]

A forex robot is a piece of software that automates trading decisions. The most popular robots for retail traders are built around the Metatrader platform.These robots run on metatrader as "expert advisers" and they can do anything from giving you a signal to place a trade, to placing and managing the trade for you automatically.

[margusmars]

Originally Posted by traderxxx

robots are usually a waste of time and money....the only good EAs are the ones that are managed by some sort of money manager than tweeeks and twurks the EA during the year bc there is no 1 system that will be constantly making $

Some point you are right but there is robots that's worth money to spend.

[bonniesmith]

Forex robots are computer software designed to interface directly with whatever foreign exchange trading platform you run. The software will manage all your trades in every way from start to finish. Essentially it is referred to as a robot because it mimics all of your actions, only it takes mistakes that are inherent to human emotion out of the picture.

[CharlesBaker]

forex robot is a good alternative for those who do not have time to sit next to the computer all day long, but still want to make intraday trading in forex. However, I don't believe in finding a "successful" robot in the web and use it just because its good reviews. Use a robot only if it does exactly as a manual strategy that you tested for at least a year and you know for sure that it works. Otherwise you will your money on finding a profitable robot.

[Henriquefx]

Sincerely, it's hard to find a profitable EA.
I would concern you to develop your own, according to your strategy.
You could ask me: How? If I don't have enough knowledge?
And I would answer: So, if you don't know how to develop a good strategy, how would you know if any other investor's strategy is good too?

[Forturama]

I do not believe in profitable EA done by small investitors such like us.
Big players can move the market with small moves and some dark strategies.

Use EA to make some tasks automatically: open or close orders, creat trailing stop orders, etc.