Do forex Expert Advisor robots ever work?

May 27, 2022 at 11:53
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5 Replies
Member Since Jan 06, 2022   19 posts
May 27, 2022 at 11:53
Yes, Forex Expert Advisor robots can work. Forex trading robots or Expert Advisors are automatic software systems used to generate trading signals. For example, it follows market price data and then, after doing analysis, it decides that it’s good to enter or close trades.

EA robots are set to work automatically within a specific range and follow trades. However, a sudden movement in pricing can exterminate short-term profits.

You can significantly improve your trading skills with a professional forex robot and the right configuration. Every day, thousands of traders are using EA to find actual pips.

However, not all forex robots are programmed equally, and how you configure them will determine how successful they are in the long term.
Member Since May 29, 2022   39 posts
Jul 07, 2022 at 00:45
There is almost never an EA that works in all market conditions. Few people excel in trendy markets, and even fewer excel in choppy markets. Human intervention is always necessary.
Member Since Apr 09, 2019   538 posts
Jul 08, 2022 at 12:43
As above not in all market conditions. My own experience is that I had to intervene enough that I questioned why not just learn and practice how to trade manually properly.
If you can't spot the liquidity then you are the liquidity.
Member Since Mar 31, 2021   229 posts
Jul 13, 2022 at 15:19
EAs can work. It's true. But without constant human improvements it won't work long time. So in my opinion EAs + manual trading are best decission.
And most of all EAs sellers don't like improve their settings. They like fast money. So if you're looking for best EA then make it yourself.
Think thrice before opening an order
Member Since Jun 04, 2020   2 posts
Oct 06, 2022 at 18:04
Forex trading is very risky, you can lose all your money even with a robot that shows good statistics. Before using an expert advisor with a live trading account, you should know in advance what financial risk you can afford to take. The most profitable robots are also the riskiest. So you should also choose a robot based on your risk appetite.

Before you invest your money, it is essential to test the robot in a demo account and do backtests on historical market data, you can use Metatrader 4 platform assistance to build your EA or others online EA creation tools like https://www.fx-etrader.com and you choose an STP forex broker that allows trading micro lots in order to start real trading with minimum risk and also to see if the EA works well with this broker.

The robots are not efficient on all types of market (in trend, volatile, in trading range). To obtain good results, it is not enough to choose the best robot. You also have to understand how it works to modify the settings according to the types of markets and your risk tolerance. If your goal is to buy a robot to let it run on its own without any supervision, you will probably lose your money after a while. The perfect robot that works on all types of markets does not exist!
Member Since Aug 05, 2021   401 posts
Oct 21, 2022 at 16:18
I'm not a big fan of EAs, just think manual trading is the best option
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