Why don't forex robots deliver the gains they claim in there track records. If they did deliver what many claim everyone would be trading for a living and bank and investment management teams would use them instead of high priced dealers. Well the truth about the track records is...
They are not track records with real money at all and the overwhelming majority have NEVER even been traded.
So how do they get track records that make money?
Simple, they make them up and curve fit them.
All the vendors do, is get the past data (this means they know EXACTLY what happened) and then make the trading system rules fit the data so they can show a thumping profit.
This is referred to as curve fitting and is the reason the track records never repeat themselves again because the data sequences in forex never repeat the same way again.
If you don't believe me, check the track record disclaimer and you will see simulated in hindsight written all over it.
We will come to how you can make money in forex in a moment - but if you think about it, it's pretty obvious the track record cannot be real, because you wouldn't be able to buy them for a few hundred dollars, you would pay $500,000 or more.
Most people who buy these systems, fall victim to the idea that forex trading is easy and they can follow someone and win. They lose hands down and then wonder why they did - but all they had to do was think about it before hand but greed and fear get in the way.
There is no easy money in forex or in life.
You will not set yourself on the road to financial independence for the cost a few bears and a lunch.
There are forex robots that do make money but you will find they are a small minority and generally, they can turn in returns of around 50% on a 3 year holding period, which is up there with the best and if you don't think that's a lot - it is and with compound growth on your side you can soon build wealth.
You can buy a system but be aware the good ones cost a few thousand and even with the annual gains, you will sit on losing periods which can last for weeks or months.
You have to have your eye on the bigger picture when trading and losing is part of winning.
Another way of making money is to build your own forex trading strategy and this is far easier than many traders think it is.
If you build your own and get the right forex education, you can tailor your system to your own risk tolerance, so you will be confident in it (as you built it) and this will be translated into a disciplined approach to trading.
Currency trading can be very rewarding but always remember - there is no free lunch and you have to put in the effort to reap the rewards.
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