How to get Forex trading Robot for Free

trading strategies and money management discussion, code, results

Moderator: moderators

User avatar
PTG
rank: 500+ posts
rank: 500+ posts
Posts: 645
Joined: Thu Jan 08, 2009 2:24 pm
Reputation: 2
Gender: Male
Contact:

Postby PTG » Sat Jan 02, 2010 7:37 pm

adaseb wrote:The problem with all these trading robots is the drawdown.

Many that sell their product never tell you that. They never use 20-30 pip stops.

Look at the #1 robot that made $160K.

Max drawdown was $60K which at the time was about 50% of the total portfolio value.


So in the long run seems like a good way but eventually sooner or later your entire portfolio will be eventually wiped out.

These robots are nothing but marketing schemes.


The problem is lack of ones knowledge regarding the method used and the characteristics thereof. If they don't go beyond full Kelly, profits are maximalized whilst the chance of ruin is minimalized. Big drawdowns can and probably will happen though. It is the method that, once proven, should give one the insight and trust to live through these drawdowns without quitting when the going gets tough.

I wouldn't write off nor use any of these robots without knowing exactly what they do and how they work plus the statistical proof that they are based on solid principles. Wether or not one can live with big drawdowns is a psychological matter, especially since the biggest drawdown is always ahead of one. Not a pleasant idea when you're just experiencing a 50% drawdown.. :shock: :lol:

There is another thing to keep in mind. Say you start with 10k, and you end up with 170k, your max drawdown was 60k. Have you lost your 10k ? No. Have you made money ? Yes. Would I be happy ? Yes. It's all a matter of psychology. I'm currently running a mechanical system that has been proven to be profitable over decades. I will be happy, and I will face big drawdowns.
This is my new signature: "new signature".

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
bredin
rank: 1000+ posts
rank: 1000+ posts
Posts: 1032
Joined: Mon Feb 16, 2009 10:41 pm
Reputation: 0
Gender: None specified
Contact:

Postby bredin » Sun Jan 10, 2010 12:31 am

Ive got about 100 or so robots, some of which Ive even paid for :)

Most make money nicely under certain market conditions, and get killed in other conditions. some just get killed :)

The major issue I have is that to use such robots well I still need to be able to read a market to make a decision on wether to turn a specific robot on or not. At which point I may as well just trade what i see in front of me.

Ive even decompiled a bunch of bots to see how they actually trade, 1 in particular stated in its advertising that it used 20 indicators to get the best entry etc etc. After decompiling it I see that it used 3. Sure glad I didnt have to pay for it cos then Id have to sue the vendor for falsely advertising his product :)


Almost all bots have adequate code for goodish entries. very very very few have adequate code for exits, and this is why imo they get killed.
Welcome to the era of "Guns and Maskies" Trading!
The previous message contains discretion. Viewer nudity is advised.
Insanity Industries Indicators Here
Insanity Industries on YouTube!

csbueno
rank: 50+ posts
rank: 50+ posts
Posts: 134
Joined: Tue Jun 30, 2009 6:29 am
Reputation: 0
Gender: Male
Contact:

Postby csbueno » Thu Jan 28, 2010 6:15 pm

dchappy wrote:My Robot ...( It's free also :wink: )



LOL !

NICE RAT !

Brookmyre
rank: 150+ posts
rank: 150+ posts
Posts: 192
Joined: Wed Sep 16, 2009 11:13 pm
Reputation: 0
Gender: Male

Postby Brookmyre » Fri Jan 29, 2010 1:10 am

dchappy wrote:My Robot ...( It's free also :wink: )


dchappy...I'll have one in red and one in green pls :D
I've learned from my mistakes and I'm sure I can repeat them exactly - Peter Cook

User avatar
newschool
rank: 150+ posts
rank: 150+ posts
Posts: 489
Joined: Fri Aug 21, 2009 2:26 am
Reputation: 0
Gender: Male

Postby newschool » Fri Jan 29, 2010 3:13 am

adaseb wrote:The problem with all these trading robots is the drawdown.



adaseb speaks the truth. I looked at few "commercial EAs" and most of them just let the loosing trades open waiting for it to retrace positive. FAPturbo not to name it...

In their support forums you get the same feedbacks, people are winning small cash each day during a month and then bang the loosing trade close and they get whipped.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “strategy trading & money management”