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  1. #1
    bmcowan1 is offline Junior Member
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    Mar 2010
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    Colorado
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    Unhappy I need advice please.

    Hi; Im new here and I am a futures trader but have always been interested in forex and wanted to break into it. I have waited because I have been trading future for only 1 and 1/2 years and didnt want the distaction from my futures trading. although I hear the two are similar. I thought that I would break into the forex with a EA or auto trading robot is this a bad idea? I have always been down on auto trading or blackboxes I aways thought they were scams to sucker you out of your money. I am looking at Fapwinner has anybody got information about this? Am I wasting my hard earned money? Do forex traders use robots along side there own system? Please HELP!!!!!!!!!!!!!!!

  2. #2
    PipperySlipples is offline Junior Member
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    Feb 2010
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    Newcastle, Australia
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    Default

    the issue that I have with EAs, robots etc. is that you're using an algorithm or set of rules to predict the random nature of human beings.

    If the market was a computer generated system then I think it could work quite nicely, but seeing as though the market is driven by humans buying and selling based on feelings of optimism or fear I think that it is hard to systematically predict the end results.

    You may find something that has a decent win rate etc. but personally I would rather spend the money and invest in my own knowledge.
    [URL="http://www.forexcandletrading.com"]Follow my blog as I grow from noob to professional trader!![/URL]

    * Your programming leads to your thoughts
    * Your thoughts lead to your feelings
    * Your feelings lead to your actions
    * Your actions lead to your results

    To change the results, you must first change the programming!

  3. #3
    Egoman is offline Junior Member
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    Mar 2010
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    Personally, I think if the robots or black box system works, everyone will be a Millionaire by now..

    Though I may sound cliche, I still believe in hard work and accumulating experiences, which is more practical.

    I am still new to this Forex Trading also, I really hope to learn more from this forum here. )

  4. #4
    relax is offline Junior Member
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    Jan 2009
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    24

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    Hi there,

    I also have looking at various EA out in the market. There are many different EA available. I believe it is better for us to run the EA on demo account first before we really put in our hard-earned money. or you may want to open a micro-account with small sum of deposit to test-out the EA system. Do not put in all your money when you are still new to the EA.

  5. #5
    joo
    joo is offline Junior Member
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    Jan 2010
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    2

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    There are many advanategeous for using a forex robot instead of doing manual trading. The primary advanatge is that, you donít have to sit infront of your computer watching trades all the time. Once set, the auto forex robot will take care of all your tradings. Probably the biggest benefit of using a forex robot is that, the robot is a computer program and will not be influenced by human emotions.
    A forex trader who performs manual trading is often influenced by emotions like fear and greed. When they suffer a loss, they are afraid to take further risk and enter into another profitable trade. On the other hand when after entering in a trade if the trend is moving to the positive direction, the trader may get greedy and will try to hang-on without closing the trade at the right point. This might eventually lead into losses. A forex robot does not suffer from all these emotional problems. It will keep working according to the original strategy to earn money for you.
    [URL="http://www.forexsecret.cjb.net/"][B][FONT="Arial Black"]Forex 7 Min Secret[/FONT][/B][/URL]

  6. #6
    Jenforex is offline Senior Member
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    Aug 2008
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    190

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    Using and EA will be better than using a bot. Bots dont help you make huge profits, they can only restrict your losses but EA's can certainly tell how much you make over a particular trade. It is always preferable to choose EA over robots.

  7. #7
    Forex_Registration is offline Junior Member
    Join Date
    Apr 2010
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    If you're new to forex, you should contact a forex lawyer for help with registration with the CFTC/NFA!

  8. #8
    medyforex is offline Junior Member
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    Apr 2010
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    If you really need a good advice maybe you should try visiting my signature Link.
    they got lots of good tips and strategies. thanks and goodluck to you.
    [URL="http://www.stressfreetrading.com/articles/stock-market/forex-trading-room/"][SIZE="5"][B]Forex Trading Room[/B][/SIZE][/URL]

  9. #9
    noymar11 is offline Junior Member
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    Sep 2009
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    I read a similar thread from forexpeacearmy about EAs and the traders were discussing that they are indeed profiting with the help of fx robots. I do agree with what Egoman said, that if robots do work, everyone who uses robots will become millionaires. I tend to keep in mind that with patience, hard work and accumulated experience, consistent profit without the use of EAs or robots is possible.

  10. #10
    Jenforex is offline Senior Member
    Join Date
    Aug 2008
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    Trade Yourself and the amount of profits you earn will be solely dependent on you! You dont need to lend you money into the hands of a forex robot to book profits for you!

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