4 responses

  1. Anonymous
    February 15, 2012

    Does all these Forex robots work that claims to be auto-traders work ?
    If you did a search on all these Forex robots for sell .. they put up videos on how they made so much money thru Using their Robots for their Forex trades. Anyone has any REAL experience of using these robots and it actually works ? Does Auto-Trade for Forex really exist ?

  2. Joe
    February 16, 2012

    The Federal government warns there are a lot of Forex frauds out there, and these Forex robots appear to be one type of these scams. If these robots really worked, there would be scads of articles about them in the Wall Street Journal and other financial publications talking about them. When I do a web search, I can not find a single reputable news article encouraging the use of Forex robots. The link below is a Federal website warning you about Forex fraud.

    There are a lot of people on the Internet claiming they have done very well using Forex robots. These appear to be of two types. One is the outright liars. For instance, you might meet a person called "Zboy227" who says "I made a lot of money using ScamRobot2000, go to their website at ScamRobot .com/Zboy227." The "/Zboy227" tells the website that Zboy227 has referred you. If you buy the product, Zboy227 gets a commission. He is only lying to you to get a commission.

    There is a lot of luck in Forex. Sometimes you will run into people on the web who have tried a robot for a few days and have had some beginner’s luck with it. They start bragging about how well they have done. Later, they start to lose money, but they rarely get back on the web and talk about how much money they lost. People like to brag about their successes, but rarely talk about their losses. The result is that much of the feedback about these Forex robots is positive.

    I may point out that websites that sell Forex robots admit there are a lot of scams out there. Of course they claim the other guy’s robot is a scam, but their robot works. If you do a web search on the words "forex robot" and "scam" you will find a lot of sites saying their competitors are scams.

    I will admit I have not personally tested every robot out there, and I can not prove they are all scams. But I would be very hesitant to spend a lot of money on a robot without clear proof it really works.
    References :
    http://www.cftc.gov/opa/enf98/opaforexa15.htm
    http://www.cftc.gov/ConsumerProtection/FraudAwarenessPrevention/ForeignCurrencyTrading/index.htm

  3. uowemedope
    February 16, 2012

    There are good robots out there, and they will rarely be sold to the public. If for example a world championship winning robot is offered, the creator would already have the third or fourth gen robot in hand before the 1st gen is offered out.

    Auto trading exists, but most of it is by dabblers and people that have purchased commercial versions, so it could be pretty much auto trading to lose. Trust me, the really good robots will never be put up in video’s, and the name of the creators will only be known to a few. But if you are interested in writing auto trading software’s, go ahead, no one can say where the next world champ is going to come from.
    References :

  4. praet_serge
    February 16, 2012

    As mentioned before there’s no such thing as a forex robot that always works.

    Just think for yourself… you create a robot that trades well and brings you a lot of money, why would you sell it for $100 to somebody else?
    References :

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