hi guys I hope you are having fun I've got flu you can tell from my voice but I decided let me do this video for you because somebody asked me about trading robots trading BOTS expert advisors if you come across expert advisors or trading BOTS what are they trading robots are pieces of software that the trading world sometimes uses to place trades manage trades and things like that basically you can get one of these trading robots and you plug it onto your metatrader5 metatrader4 or your other trading platform and this thing will look at the market depending on the parameters or conditions or settings that you are placed on it it will look at the market and decide whether to buy or to sell or to close your trades or to just notify you so I think there are three there may there might be many but I think the common ones are three types of trading bots this this one that is fully automated you plug it in you tell it what to do and when to do it and you go away this thing looks at the market and places trades for you closes place for you and does all the other things for you I think the second type is trade management pots basically you have to be there you basically try a place in a trade and you leave this thing to manage your trailing stops your track profits and things like that but you do the initial analysis and the placing of the trades and things like that then I think there's also the said type I don't want to call it another type but you basically rely on this trading port you give it your parameters you give it your conditions this spot basically gives you notifications it doesn't do anything it just looks at the market it's there in the background and it looks at the market when the conditions that you have given it I met it sends you an email or sends you an SMS or it does a pop-up or in a lead sound to tell you that a time to look at the markets your conditions have been met so what they do this boss is they give traders convenience say like me you have a nine-to-five job you are not yet a full-time trader basically you can set your fully automated trading BOTS and you got work you come back home 5:00 p.
m.
and you got your charts and you can look at the profit or the losses that you have made for the day or you can be sitting with your laptop and this thing is right there and it tells you not now your conditions have been met time to look at the market other than that before your conditions have been met you can still concentrate on your work so they have that kind of convenience and the other advantage is emotional trading I know many many traders the beginners even the experienced ones we all struggle with emotions at one point or the other so the trading bots help to remove the emotional element it's a robot it has no emotions it's just a computer so basically you find your head in instances where you place a trade let's say you did your analysis and you notice that the market is selling or is about to sell and you could replace your sell order but as soon as you place your order you watch the market going up and you start panicking and as the market seems to go up you decide to cut your losses so you get out of the trade the moment you get out of the trade the market drops and you bang your head against the wall you were right why did you get out of the trade why did you get out of a market you were correct and you have to sit on the sidelines as you watch this market drop and drop and you are frustrated that how could you miss that opportunity how could you lose so much money if you only if you only had held on so what the trading port does is it would stayed in that cell trade or at least until the cell stopped was going to be heat but it would have saved you the emotional pleading so basically that's the advantage of these trading BOTS now do they wait my personal experience is some of them – most of them they are rubbish I had to say it most of the trading robots are the stairway they are junk what they do is they seem to work on demo or even on a new account and they seem to make you money but at the end of the day trust me my friend they would take that money away when they start making losses those things will blow your account they'll burn you when I started trading I think I was also keen when first I got introduced to trading robots I was like wow so I don't need to do anything I don't need to see the charts analyze anything I can just plug in this thing and this thing will make me money who make me a million aim I think that's wrong approach with many people trading robots will not make you rich yes there are people who not agree with that most of them people who are selling you these trading robots they don't know how to hate because less they are bread and butter ask yourself why is a person with this amazing magical trading robot that promises to ten your hundred dollars ten dollars your $200 your one thousand dollars into one hundred thousand dollars within a month or a million within a month why are they selling the tool you must ask yourself that why are they selling this to and why are they selling it for $200 $500 $1, 000 if this thing can make people instant millionaires why is it being sold at such a relatively small amount if I did trading robot that makes people millions or probably charged millions for it but no you never see any of these trading robots selling for several thousand dollars most of them between $50 and $1, 000 because they are sellers no that's that that's the range most traders can afford to buy these things so when you buy these things whoever is behind it can make their money if they price it too high nobody's going to buy and then don't make their money and they know it's probably rubbish anyway so being a curious person this year I took one trading robot I did not use this robot because of this person that asked me this question but it just happened that when I was missing by wounds then I get this message from this person asking me about trading robots so I send them this same screenshot this is a trading robot that I found online and decided to test it it looked promising you can see his real account it's a real account it's a true account so what I did is I gave this trading robot ten dollars ten US dollars to trade for me did I think is it was going to make me a millionaire now I've tried many of these trading robots to know that they don't make you an instant millionaire but I'm a curious person by Nature so I was curious to find out if this thing works is advertised so I give it 10 years donors and it started trading note that the initial trades were blues this thing was making me money I must say I was actually impressed by the thing at first because it was the first trading robot that I I think in a while seemed to offer potential still our skeptical because I've seen many of these robots and they've tried many of these robots to know the most of them they do not work so it was making me money making me money making me money I was like wow ok I think I've found one robot that has potential here I must say it caught me to a point where that $10 I think you if you do calculate those profits from the top up to here it caught me to run about $80 that was four week and a half also with two weeks time period so it took my $10 and made it into $80 so I was like ok ok I think I've caught something here so I left it to do its thing it was doing a thing then was going on here the red started coming in table what's going on here the Reds started coming in karma more red and right at the bottom tried to do a martingale to try and recover all the losses now you can tell the losses are Yuja so where is my account standing at after all has been said and done from over $80 I've got a grand total of 24 cents left in my account from the initial $10 deposit and were 24 cents and out of that I've lost also of $70 profit which I'd made I hate to say it and I even hated to say it to myself but I have seen this trend before you take these trading robots you plug them in they make you money initially you let them do their thing before long your account is blown Oh perhaps I have only tested the paid ones I don't know maybe I'm just an unlucky person I only find bad trading robots so do I recommend people trading with trading robots I think if I am going to use a trading robot of which I will probably find more like I said I'm a curious person I'm just curious about things that's just who I am I don't know I'm curious about things I try and dig deep and find out what makes things tick so I think if you're going to buy a trading robot don't by according to what these Instagram YouTube online marketers are telling you if somebody's promising you a trading robot that will turn you into an instant millionaire overnight run that person is just after your money if somebody promises you that this robot would take your hundred dollars and turn it into a million dollars within a month my friend ask yourself why is this person still selling this thing for cheap because I'm sure even the big banks who won that same trading robot if it makes millions then it should it should probably be selling for millions but yet it's being sold for $1, 000 something is amiss yeah he knows the kind of people that he's selling it to can only afford up to $1, 000 so he doesn't sell it price it at that point nobody's going to buy and it's not going to make any money you get the point so if I went to buy a trading robot first of all don't buy it because of the hype around it if you are going to buy a trading robot buy it because of the strategy he didn't understand him of the strategy behind it what makes it work like with this robot I'm going to go back to it and look at why did it make profit initially then what happened to make it lose so much money in such a short time is it going to be a robot that makes millions no ways there's nothing like that in the forex industry people go to school people spend years perfecting forex trading strategies and they are still not billionaires there's a reason for that the forex industry is not a get-rich-quick scheme where you can just come up with with offensively tutu and suddenly you are swimming in cash I'm yet to see anybody who says that has happened to them so if you are going to find a trading robot don't buy because of the hype buy it because it has a solid strategy behind it and don't expect it to make you money every day these things if you leave them to their own devices they'll burn you I've tried I think over 20 of these trading robots and I'm going to try many more don't get your hopes up on this on these trading robots decide on yourself you are if you want to trust to try one if you find one that works for you well good for you then good luck but I would recommend that you learn forex trading on your own as a person and the forex trading robot will come in as confirmation or something like that which comes to how I'm going to use future trading robots I'm probably going to use them just as confirmation of market conditions I give it the market conditions that I'm looking for and whilst I'm doing my work it just notifies me that my conditions have been met then I can go to the phone to the laptop and decide whether I should enter a trade or not then the next kind of try or Forex robot that I'm going to use is to manage my trades our entire trade I leave it to do the trailing stop and things like that but to buy a robot that promises to automate everything and buys themselves and makes and it's going to make me into a millionaire no not going to happen don't trust don't trust these things so I think that's the story with trading robots if you find one that works for you well good night but be careful of all this hype of all these marketers trying to get you these things from experience they awake when they want otherwise they'll turn around and take all that money back.
