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Forex Robot Traders- Do They Really Work?

Jun 8, 2008
Forex trading is a huge industry now days. There are gigantic fortunes that are gained each day by successfull traders. Unfortunately a lot of people that don't know what they are doing are loosing lots of money also. If it were easy, everyone would do it, right?

Recently a few companies have come out with what they call Forex robot traders. What they are, are robots, or better yet computers, that do all the calculations of when to buy and sell. It's supposed to take all the guess work out of the equation for you. You just set up the program and put it on auto pilot and watch the cash just pour into your bank account. Ahh, if only it were that simple. I won't lie, these robots are pretty good and you can make money with them, but they also, like anything, do have their flaws. Here are a few that I have discovered.

First, MT4 robot systems work only on MT4, while the services that have an auto alerting buy/sell system are not limited to any particular platform.

Second, MT4 EA's are based on pure mathematical formulas (mostly they are combinations of simple and exponential averages). Forex auto alerting is a self-learning system based on neural networks and genetic algorithms and as input it takes a lot of parameters (such as the day of the week, part of the year, other currencies prices, gold price, oil price, holidays, etc.).

MT4 EA's can't do it (or maybe they can, but they don't as it's a very complicated schema requiring a high computational power, which is impossible to obtain on a home PC). EA's usually take in account only the history of the given pair and that's all. We believe that the market can't be described with such a simple math model with one parameter only. It's a non-linear system like weather or flowing water.

While the robots are great, they are limited in what they can do. I'd suggest a program that
will give you ready-to-use Forex trading signals. Using them you can make money on Forex without thinking. This is most efficient and modern money making methods today. It can be used by anybody in all countries of the world. All you need is access to Internet few times a week, few minutes each time. That's all. That way you can capture the the entire Forex market, not just the MT4 systems.
About the Author
Chris McCann is an expert at Forex Market Trading. For a totally automated Forex Market Trading system for the expert or the total newbie visit my site.
http://www.shop4coolstuff.com/forex
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