[FX_loser]

If we want a consistently profitable forex robot there should be another robot on the other side of the trades which is a consistent loser.

[Rambo35]

I think you should forget about robots and learn how to trade. There is no substitute for manual trading, at least not in my opinion.

[Mike]

Rambo is right to the largest degree you can imagine. I've tried to take a successful manual trading strategy and translate it to a program that trades for me while I'm away; in my opinion and after lots of hard work by my programmer, I've reached the conclusion it can not be done without more booty than the program will make for you; over time, sure, the EA or Bot will make your money back and then some, BUT, I believe by the time that does happen it may be time to recalibrate that program to shift to the everchanging market condition at the time. I speak of this only as a novice, admittedly, sure there are banks and traders out there that have successfully done it, but they sure as hell will not share it with the rest of us, and they don't probably even admit they are doing anything else but having their human traders doing hard work for them behind the scenes, when it's really bots. A prime example of this are the flash crashes that occur because the market resets or something weird happens that the bots can not adjust to, and bam, you have thousands of bots flooding the system to dump trades within milliseconds, causing crashes; now this goes more so for commodities, but if they figured out how to do flash trading in that market, I don't see what's shackling them from doing it in the Forex market as well.

[FX_loser]

I agree entirely. One more thing that the banks have and we do not is the financial resources. Their bots can lose for a longer period of time than we or our robots can. And this makes lots of difference. It is a very interesting point though about the market flash caused by bots which for a second or two become stupid.

[thelastbear]

Add one more to the agree list. While top level hedge funds do have algorithms they trade on you can't compare to their resources. I always advise traders to learn how to trade as in the end you can have all the robots you want, there is no robot which can replace the skills of a human trader. I do think a hybrid system is the best, but again that is for those with enough financial firepower to afford complex systems.