Bots bots and more bots

I find it so interesting that anyone would think you can make those high dollar figures with a robot you turn on. Please if anyone ever had one that gave out a consistent 70% they would be multi-millionairs and would never sell it.

Years ago when I was younger and dumber I traded Forex with a EA(robot). It had that wonderful martingale thing going on. The owner of it claimed it to be the holy gail having great M/M features built in however read what I just wrote somehow money management and martingale doesn't work right. Well I felt great I was making around $2000 a day for a good number of days. I would only run it on a part time basis. One day it was in the evening and I had a bit too much to smoke passed out and left my EA on running full speed on my Mt4. I woke up in the morning not only to the worlds worst hangover but a $20k hit.
the owner of this EA soon had has account blown and frankly everyone did.

On a more positive note and please forgive me I cannot remember the name of this company nor did I bookmark the page but it's a software company for traders. the name is made up of 3 words and I think begins with the Letter S. Anyhow they have this software it's around $1k that will make your own ea or robot automatically you don't need to know a bit of code it does it for you. So lets say you have a very good 60 second strategy all you do is run the way you trade this software anyalizes how you trade and automates it for you. I'm pretty sure 99% of the folks making robots use this company. I was thinking possibly of getting the software myself. I do have a few good strategies but if they were more automated they may just work better and if you have the right broker that has a fast platform you could pump out a hell of lots of trades in a day and do very well..
Cheers

Comments

  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    edited July 2015
    Markets are like Weather systems. Most bots logic can't adapt to change with it as the linear logic will fail over time. Most good traders can use bots according to market conditions being favorable or not in a given period of time manually. To just let them run on their own will get you the results you described above on the mean average over time. Bots and indicators are just TOOLS they don't replace your BRAIN and if you let them then you end up being what? That is right a TOOL.. LoL
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