Page 1 of 2 12 LastLast
Results 1 to 25 of 27
  1. #1
    Thailand Expat

    Join Date
    Aug 2008
    Last Online
    17-02-2012 @ 04:10 PM
    Posts
    1,304

    Foreign Exchange Betting ( Forex) re Robots

    The Foreign Exchange market turns over Zillions each day,

    You can bet the movement of currency pairs on the Internet using platforms such as Forexmt4.com

    The bet uses the number of pips movement either way ie $ 1.5000

    So you bet so many dollars per pip. ie $5 per pip X 10 pips movement = $50 profit

    But it ain,t that simple !

    If you guess wrongly you lose,

    You can use many indicators on the Platform to show you the trends , they are helpful, but always they are minutes behind the event,

    Recently a lot of software has hit the forex scene that claim to monitor these movements,
    Some just track and provide you with buy/sell indicators.
    Others are totally Robotic, they enter trades automatically and exit when applicable.
    OOOHHH Imagine going to bed after setting your Robot, waking up the next morning and realising the Robot fckd up, wiping you out,

    Fortunately the better ones have settings control limiting the amount placed etc

    I am currently testing out the 2 types and will report back if anyone is interested
    Last edited by TSR2; 25-03-2010 at 04:10 PM.

  2. #2
    Thailand Expat

    Join Date
    Aug 2008
    Last Online
    17-02-2012 @ 04:10 PM
    Posts
    1,304
    Well the Auto Robot is running

    Made 500 quid on it,s 1st day

    USD/EURO

    It,s still at it

    Quite fascinating

  3. #3
    Thailand Expat
    buriramboy's Avatar
    Join Date
    Mar 2007
    Last Online
    11-09-2019 @ 09:56 AM
    Posts
    12,238
    ^Link??

  4. #4
    Thailand Expat

    Join Date
    Aug 2008
    Last Online
    17-02-2012 @ 04:10 PM
    Posts
    1,304
    Quote Originally Posted by buriramboy
    ^Link??
    DID A THREAD LAST WEEK ON FOREX EXCHANGE ROBOTS

  5. #5
    Thailand Expat
    buriramboy's Avatar
    Join Date
    Mar 2007
    Last Online
    11-09-2019 @ 09:56 AM
    Posts
    12,238
    ^Must have missed it, so you playing with real money now??

  6. #6
    Thailand Expat

    Join Date
    Aug 2008
    Last Online
    17-02-2012 @ 04:10 PM
    Posts
    1,304
    Quote Originally Posted by buriramboy
    Must have missed it, so you playing with real money now??
    yep , bit bloody scary

  7. #7
    Thailand Expat
    buriramboy's Avatar
    Join Date
    Mar 2007
    Last Online
    11-09-2019 @ 09:56 AM
    Posts
    12,238
    Who did you open a forex trading account with and which bot you using??

  8. #8
    The Pikey Hunter
    Gerbil's Avatar
    Join Date
    Jan 2006
    Last Online
    @
    Location
    Roasting a Hedgehog
    Posts
    12,356
    BE CAREFUL!

    I know, My own company develops automatic trading software for FOREX.

    Yes, you can make a lot of money, you can also lose everything!

    The only one guaranteed to win is the broker on their commissions.

  9. #9
    Thailand Expat

    Join Date
    Aug 2008
    Last Online
    17-02-2012 @ 04:10 PM
    Posts
    1,304
    using??[/QUOTE]
    Quote Originally Posted by buriramboy
    Who did you open a forex trading account with and which bot you using??

    Forex mt4

  10. #10
    Thailand Expat

    Join Date
    Aug 2008
    Last Online
    17-02-2012 @ 04:10 PM
    Posts
    1,304
    Thailand Expat BE CAREFUL! I know, My own company develops automatic trading software for FOREX. Yes, you can make a lot of money, you can also lose everything! The only one guaranteed to win is the broker on their commissions.[/QUOTE]

    You are quite correct

    Its dangerous to pop you loot into a Robot,

    I though I would experiment with a controlled amount of dosh,

    I know the FOREX markets , can be a real slippery slide to obilvion

  11. #11
    Banned Muadib's Avatar
    Join Date
    Dec 2005
    Last Online
    @
    Location
    HELL
    Posts
    4,774
    You can loose your ass very quickly trading Forex, especially using bots... If you provide enough downside on stop-losses to deal with a volatile market, it can bite you quickly... Especially if you leverage your trades...

    Betting on the USD/EURO pairs is fairly safe these days as everyone knows the Euro is heading toward 1.25 to 1 against the USD...
    Give a man a match, and he'll be warm for a minute, but set him on fire, and he'll be warm for the rest of his life.

  12. #12
    I am in Jail
    Butterfly's Avatar
    Join Date
    Mar 2006
    Last Online
    01-02-2019 @ 03:12 PM
    Posts
    39,832
    what you are using is called "computer trading", basically taking positions based on patterns

    those internet forex platforms always sounded like scams to me for several reasons:

    - first they are virtual exchanges, there is no deliverable, it's all notional using some kind off-market swaps
    - most are private networks, or pools, could be interlinked dark pools, not sure, but regardless what it means is that you are betting against bigger players, worst, in the case of a private network, they can see all the players card, so at the end, the "free strategy" they are offering are going to bomb against you when they decide to collect after you got hooked with the small gains and you are going for the bigger ones.

    some people on TV or here, can't remember exactly, have claimed making 50k USD a month with those things. I am a bit skeptical about all this. Impossible to verify those claims independently.

    If all of this was true, why are those "strategies" offered for free ? I don't think they work, maybe short term, but they always seem to bomb eventually. Also, why would the big players keep using Prime brokers when small guys are making millions with "free" online Forex platform. I don't know, all of this doesn't sound right.

    Regardless, Forex are extremely dangerous, most volatile of all I believe.
    Last edited by Butterfly; 30-03-2010 at 10:09 PM.

  13. #13
    I am in Jail

    Join Date
    May 2009
    Last Online
    02-07-2018 @ 06:46 PM
    Posts
    2,286
    Quote Originally Posted by Muadib
    Betting on the USD/EURO pairs is fairly safe these days as everyone knows the Euro is heading toward 1.25 to 1 against the USD...
    I wish I had your haughtiness.

  14. #14
    Banned Muadib's Avatar
    Join Date
    Dec 2005
    Last Online
    @
    Location
    HELL
    Posts
    4,774
    ^ I just listen to the talking heads on currency movements... Most are emphatic that the Euro is going to 1.25 to 1 against the USD... When 3 of 4 analysts I track say the same thing, I pay attention...

  15. #15
    I am in Jail
    Butterfly's Avatar
    Join Date
    Mar 2006
    Last Online
    01-02-2019 @ 03:12 PM
    Posts
    39,832
    1.25 that would be good news,

  16. #16
    ding ding ding
    Spin's Avatar
    Join Date
    Jul 2006
    Last Online
    @
    Posts
    12,608
    Quote Originally Posted by Muadib
    Betting on the USD/EURO pairs is fairly safe these days as everyone knows the Euro is heading toward 1.25 to 1 against the USD...
    In situations "where everyone knows" something, it's best to do the opposite.

  17. #17
    Thailand Expat

    Join Date
    Aug 2008
    Last Online
    17-02-2012 @ 04:10 PM
    Posts
    1,304
    [QUOTE="Butterfly"]Regardless, Forex are extremely dangerous, most volatile of all I believe. [/QUOT

    I have to agree Butterfly, Forex is well dangerous, very!!

    But I thought I would give it a punt for a roller coaster ride

  18. #18
    Member
    Fast Eddie's Avatar
    Join Date
    Apr 2006
    Last Online
    12-04-2015 @ 12:28 AM
    Posts
    770
    I personally wouldn't trust an Expert Advisor i picked up off the internet on my account.

  19. #19
    Thailand Expat

    Join Date
    Aug 2008
    Last Online
    17-02-2012 @ 04:10 PM
    Posts
    1,304
    ^ I like the angst,

  20. #20
    Banned Muadib's Avatar
    Join Date
    Dec 2005
    Last Online
    @
    Location
    HELL
    Posts
    4,774
    I don't trade Forex too much, although I have dabbled with it... I also use MT4 and added the Magic Scalper EA... Never ran it on autopilot though...

    I prefer the currency ETF's if I want to play in that arena, but am sticking with large / mid cap equities with high yields at this point in time and swing trading ETF's based on sector rotation...

  21. #21
    Thailand Expat

    Join Date
    Aug 2008
    Last Online
    17-02-2012 @ 04:10 PM
    Posts
    1,304
    ^

    I would think safer

  22. #22
    Thailand Expat

    Join Date
    Aug 2008
    Last Online
    17-02-2012 @ 04:10 PM
    Posts
    1,304
    Update

    The 1st Robot really FCKD up well, it was making a profit and supposed to stop when the number of pips was met , it did not,

    Them when a retracement occurred it should have bet the other way ,It didn,t,

    Cost me $450,

    The other Robot made $900 , on another currency pair, this was free software as well

    Number 1 is out, too dangerous, you can,t control what it does 100%

    Testing No3 when I work out how to load it, this looks good as you can change the parameters in which it operates

  23. #23
    Thailand Expat

    Join Date
    Aug 2008
    Last Online
    17-02-2012 @ 04:10 PM
    Posts
    1,304
    If some of you not familiar with Forex , try downloading Forex | Currency Trading | FX/4X Trade | FOREX.com

    It,s free and you get all the charts plus you can apply indicators onto the screen from the site, my favourite is ADX (average directional)

    You can apply for a Demo period to practise with fake money balance to get used to Forex Trading

  24. #24
    Thailand Expat
    the dogcatcher's Avatar
    Join Date
    Aug 2008
    Last Online
    24-12-2015 @ 06:41 PM
    Location
    My body is not a temple, It's the hell where I reside.
    Posts
    5,708
    Simple.
    Throw on an RSI and apply the support and resistance fundamentals to the indicator NOT the price.
    Stick that in your backtester and smoke it.
    Today I'm up 106 points on the cable.
    Easy.

  25. #25
    Banned Muadib's Avatar
    Join Date
    Dec 2005
    Last Online
    @
    Location
    HELL
    Posts
    4,774
    Quote Originally Posted by Muadib View Post
    Betting on the USD/EURO pairs is fairly safe these days as everyone knows the Euro is heading toward 1.25 to 1 against the USD...
    Euro hits 17-month low on Sarkozy report Currencies - MarketWatch

    Euro falls to 17-month low on euro-zone debt worries
    President Sarkozy threatened to pull France out of the euro zone: report

    FRANKFURT (MarketWatch) -- The euro slumped on Friday to a 17-month low against the U.S. dollar, as a report that France's president had threatened to pull his nation out of the euro zone rekindled worries about financial stability in Europe.

    The dollar, meanwhile, was broadly higher against most of its major rivals, as European equities declined and U.S. stock futures pointed to a lower opening on Wall Street. See Europe Markets story.

    The euro (CUR_EURUSD 1.2531, +0.0009, +0.0719%) hit an intraday low of $1.2431, its weakest level in at least 17 months. It fell 0.5% to $1.2471 in afternoon trading in Frankfurt.

    The euro "succumbed to broad selling pressure," according to Action Economics.

    Nicolas Sarkozy threatened to pull France out of the euro zone unless other members promised to help Greece at the crucial meeting of ministers in Brussels last Friday, according to a report in Spain's El Pais.

    Details of the meeting were apparently revealed by Spain's Prime Minister Jose Luis Rodriguez Zapatero as he met behind closed-doors with Socialist party leaders on Wednesday.

    An unnamed source at that meeting relayed Zapatero's account that at one point in Brussels, Sarkozy "banged his fist on the table and threatened to leave the euro, which obliged [German Chancellor] Angela Merkel to bend and reach an agreement."

    Worries over debt levels in the euro zone persist, even after the announcement of a 750 billion-euro financial-stabilization program by the European Union.

    The mood in the European equity markets was sour, with the Stoxx Europe 600 index (ST:SXXP 252.37, -4.87, -1.89%) trading down 2.2%.

    The dollar index (DXY 85.63, +0.42, +0.49%) , which tracks the performance of the greenback against a basket of other major currencies, rose 0.5% to 85.657. It traded at 85.339 late Thursday.

    The British pound fell 0.3% to $1.4554. The dollar edged down to 92.48 Japanese yen.

Page 1 of 2 12 LastLast

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •