Automated forex robots are the choice of many new traders but the profits they promise are just fantasy in most cases and the reality is a quick wipe out of your account. Let's look at why they lose...
If you want to trust an expert you can but make sure they can do what they and have a track record and no where is this more important than with forex trading robots. Fact is the profits they claim are not real, their fantasy paper profits.
Just check the track record and look at the small print and you will see that It's a back tested simulation.
Well to me that's not hard, a child could do that and paper profits cannot be spent down the store!
The acid test is doing it in the market and making real dollars, the huge amount of forex automated forex robots sold, have simply never done this.
How can you claim a system will make money for the user, when it's never made a cent in real time? It doesn't make sense to me.
Would you trust a system where the vendor hasn't bothered trading it, despite the fact he tells you it can make you a millionaire? Neither would I, avoid them.
Are There Any Good Ones?
Yes there are and we have written about a free one - The 4 Week Rule which works and will out perform all the ones with simulated track records, its explained in our other articles so look them up.
You can also get some with real track records which are solid and while these systems cost more, than the $100 buck simulations, you have real evidence of profits and can make your money back many times over.
When looking at any forex trading system, the key is to avoid the simulations, look for ones that have made money and ones you agree with the logic.
This means, that if know the logic, you can have confidence in the system and you can trade it through draw down periods, all systems have them and you need to apply with discipline until you hit a home run.
So there are few automated forex robots that can make you money, it's a tiny minority but find them and you can achieve long term profits.
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1 comment:
If you are seeking to generate an extra 100-200 pips daily then I suggest that you use FastFXProfit.
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