Interview with RobotFX, Professional Forex Trader

Interview with RobotFX, Professional Forex Trader


"This interview was conducted by Alberto Conti in May 2009 for the series of your blog Robots Trading and extended to a written medium dedicated to the world of investment"

1) Tell us a little about you and your career.
I am engineer by profession and I have got a master’s degree in Business Administration from a renowned institution. I kicked off my professional with a Japanese Multinational firm bringing into play my expertise in Informatics and Communications.

After working there for a while, I set up my own business in the arena of Multimedia and went on to become a director of a department in a company Internet Marketing and Media.

I devoted my last 6 years into the research and development of strategies by Forex and Trading which dealt in robots Attila Robot FX which usually used to take up 10 to 12 hours each day.


2) Since how long you are in the business of Forex?
Initially I made my first approach to these markets 10 years ago with the Stock Market. But my focus was on the Foreign Exchange Market almost 8 years ago and since then I have been working permanently in it.


3) How did you get to know about Forex Robots?
After studying charts for couple of years, putting my mind around Fundamental analysis and Technical analysis which coincided with the development of my first Forex strategies, I realized that I could automate the process because I had the necessary programming skills. I have always shown a keen interest and have participated whole-heartedly in development of complex software projects.

Initially I tried my hands at some Indicators and then moved on to quite complex developments which already included some Artificial Intelligence


4) How was your experience with Forex Robots?
I tested hundred Robots for months and had quite a disappointing experience since 98% of them lost. It is then that I realized that Forex robots would not win if the strategy that is based on is not itself a winner. Most of the strategies that were used in the robots were totally invalid and more if you do not know exactly how to work with them.

As I advanced in knowledge of potential winning strategies, it increasingly helped me dominate the market more and enabled me to begin to develop and debug my own robots.


5) What are the disadvantages of using the Forex Robots, is there anything an investor must know before he start, and what are the thing that your experience made you learn ?
There is a mix of advantages and disadvantages of using Robots.

To begin with, the Forex Robots lack the decision making capacity as it is limited to that programmed inside them. The parameters on which the decisions of Forex robots are based are limited and there lies the major drawback. However, this drawback can be transformed into a relevant factor that we can play in our favor.

Forex Robots do not have any emotional quotien. They are free from feelings such as a sense of loss, ego, failure, disappointment. Nothing as such has an adverse impact on their working efficiency or productivity. It doesn’t get tired or needs to be fed like humans. This is one underlying quality which has helped Forex Robots raise in on the level of standards and expectations set by humans.


6) How soon one can start earning with Forex Robots?
If I said that one would start making profit overnight, People would take me for a lunatic. It’s important to be rational and realistic. One has to an objective view of things rather than a subjective one.

A few months back, I was approached by a Bulgarian and he asked to me to send him a report of operation of one of my Forex robots. After much deliberation, I decided to part with a report for the period January 2008 to March 2009. Performance during that period was at around 350 % ( around 25% per month on an average). After doing so, the Bulgarian contacted me and said that it is "not worth" and he sent me a report of another forex robot with a gain of 50% in two days. That’s when I realized that I had already discussed the problem. His account was over-operated and over-leveraged. The Bulgarian said that his forex robot was a thousand times better than mine and his swagger was of a proud man. I asked them to send me a report within a month which did not happen. A few weeks after I was contacted by him to manage a account for him.

Well the summary of the story is that the key is not winning much in two days, but beating over time and that can not achieve a 50% gain in two days or even perhaps in a month.

I usually have a target goal of 15% a month with a moderate risk / low, 25% for aggressive profile accounts and 8% for large accounts, depending on market conditions


7) What are the factors that one should have that can make him successful while trading or using Forex Robots?
It’s important to be watchful and cautious and one should not get carried away in emotions if he/she wants to make it big and become successful. It’s important that we get our acts together as traders operating directly on the market, we got to have a good strategy and besides we also require a good money management scheme. As far as personal qualities are concerned, one got to be disciplined, patient and should have a high emotional quotient.

Fortunately we can program into a Forex Robot a successful strategy and we can sit back and be sure that it will have all those qualities that are lack in human.


8) what one should not do with these so-called autopilot Forex Robots?
Usually , users all over tend to modify and alter the parameters of the robot according to their preferences in a bid to get better performance out of them, particularly those that affect the risk and lots and money management. It can also imperil the stability of the account at any given time.

Instead of that, it’s best if one knows about Forex, know what the basic operations of the robots are, and act in an emergency manually.


9) What advice would you give to novice traders?
The first and foremost advice would be to get trained to an extensive level. They should understand the Fundamentals and Technical analysis elementary. Wisdom alone will not do the job.

Furthermore we must learn to not get overboard with euphoria and the demoralization of the inevitable losses and think that these things are part and parcel of trading. In the end, this is the trading itself


10) Did you only concentrated on Forex Robots or did you spend time on doing some other business venture on the web?
Well, most of my life has been around new technologies and internet. In the past, I have had some other business on the internet but now I am wholly and solely into Forex, management of private and institutional accounts, developing new strategies and Robots of Trading.


11) There are several options available in the market, which one do you think the best Forex robot to start with?
As a matter of fact, 98% of robots out there are sold via Affiliate marketing network Clickbank , They are products made by marketers and not by traders and thus most of time they do not have any value. Most web pages contain only hype marketing stuff which is completely exaggerated to impress and lure the novice customers.

Indeed, from the moment a Forex robot sold to more than, say 1000 people, it loses its value because these 1000 people will be placing all of the same order at the same time on the same pair of currencies and there are chances that some unethical broker might compromise the effectiveness of the robot in that process


12) Tell us, in that Forex projects are you currently working on?
Basically I am working on my last two robots of Forex, one of them is a modification of the scalper RobotFX for aggressive accounts of investors with high risk profile and with the ability to obtain extraordinary returns in shortest possible time.

And I have also am working on another variation of the same technique which is used for intra-day operations and to moderate risk profiles.

Finally I started a new project 3 months ago through some very exciting discoveries that I made about I call the ‘market balance’. This new project which we call the “The Forex Holy Grail Project”, given the scale of development and necessary tests and duration of the project we open at 50 external partners, so that once the project will be finished each partner co-owns can use for your own use but can not sell or commercially exploit it. The ultimate goal of this “The Forex Holy Grail Project” is a sustained and steady monthly income of around 10 to 25% lifetime regardless of market conditions or broker and with a CLOSE ZERO RISK.


13) Any final thought or consideration?
The readers should get to know that the Forex market is a lucrative market and with high risk associated with it, so therefore I recommend that you train and learn to diversify risks and portfolios.

With coming up of certain Forex enterprises, it has brought about a significant increase of potential investors who are interested in Forex, but not many of them are trained or have the required risk profile.


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