I've seen forex bots being advertised that you can buy for a small price. You set them up, top up with some funds, and an algorithm does the trades for you.
So, as I see it, there are two possibilities:
1. These bots DO actually work. The algorithm is successful at predicting the prices of specific currency pairs and determining when to buy and sell.
2. These bots DON'T work at all and end up losing money.
From the information that I've read on the Internet, it seems that the latter is generally true. However, if forex bots generally end up losing money then shouldn't doing the exact opposite of the bot's trades yield a winning result? i.e. if the bot puts in a sell order then you put in a buy order, or if the bot puts in a buy order then you put in a sell order, etc.
EDIT: I guess fees would eat into the profit somewhat but as long as the fees aren't huge, the above strategy should work right?
If you do EXACTLY the opposite (like you mimick the bots orders of a small denomination), you will probably make a loss.
You can make a huge loss. Or a moderate profit, which needs lot of luck.
Markets are volatile.
And if you think setting a low sell, high buy order is profitable? Know that the bot makes loss not because of that, but because it was not able to make one of the trade.
