Profit Guide to Forex
Forex Profit Systems

Do automated forex trading robots work in the forex currency market?

I'm considering purchasing a program that is an automated trading "robot" on the forex currency exchange. Has anyone out there ever had a fallout or lost a lot of money using this system?

Public Comments

1. Firstly, you are asking in the wrong section.

Commercially available robots don't work very well. You should consult one of the sites which evaluates robots like www.forexpeacearmy.com. It seems about half of the robots make money and half lose money, which is not much better than if you trade randomly.

It's quite difficult to come up with a scheme to make money in forex. I'd leave it to the professionals, or spend a very long time studying books and trading on practice accounts first.