Forex Robots - The Bulk of Them Wipe Out Traders' Equity - Here's Why

By Sonia Kristina

Many vendors claim you can make money with no effort by paying them $100 for their Forex robot which then makes you regular cash...Common sense tells you this is not true and the reason they lose money is simple...

They have never been traded and the track record is a back test on historical data knowing the closing prices. Not hard to do this really and a child could do it. The track record is simply bent to fit the data and of course you can't bend in real time you have to trade in real time.

Look at the track records of most Forex robots and in the risk warning, you will see the words "hypothetical" and "simulated" and this is not the same as making real dollars from trading in the market.

Common sense tells you that if these Forex robots with simulated track records really worked and could deliver financial freedom for a hundred dollars the following would apply:

- Banks and brokers would sack their dealing teams

- No one would work anymore and everyone would trade

Neither of the above has happened, nor ever will.

Another point is if the Forex robots really did work why would you sell it? The vendor would be making to much money to bother hassling you for $100.00

The Real Way to Win

You can find some decent Forex robots and they can make great long term gains but keep in mind that they will have periods of losses. A decent robot can make 30 - 100% annual gains, with losing periods of a few weeks to a few months, so they are geared for long term profits and you have to be patient.

Even if you do have a good Forex trading system you need to have the confidence and discipline to trade it though losing periods.

There are traders that make a lot of money in Forex trading but I can assure you that they rely on real results and don't buy into it made money backwards it will make money going forwards.

So be realistic, get the right Forex education and system and you can enjoy great rewards for you effort and leave the simulated robots to the dreamers.

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