It's a fact that most of the Forex robots sold online lose money but if you want to find the best Forex robot here is a simple tip to use...
Most Forex robots claim they can make you huge gains and they present track records but these track records in most instances turn out to be no more than a simulated, back test - simply look for this warning.
"CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading.
How can you claim a automated Forex trading system can make you money, when it hasn't made any at all?
To say a back test is an indication of future profits is ridiculous, as you have one key advantage when testing backwards - you know what happened!
Now I could make a fortune, if I had tomorrow's price history today - but I don't.
That's why Forex trading systems collapse in real time trading. No two data segments are going to repeat again and this spells equity wipe out and quickly.
I get bemused that people actually believe them - financial freedom and all you pay is $100 - dream on!
Are there any good Forex robots out there?
Yes there are and they can make good solid long term gains.
The way to choose the best Forex robot for you, is simply to get one that has made money and suits your risk profile.
The best will produce between around 30 - 100% per annum and generally, the higher the gain, the higher the drawdown.
Typically, you can expect to drawdown your equity by between around 25 - 50% and these drawdown periods can be anywhere from a few days to a few months - so you need to look long term and ignore short term fluctuations.
Don't believe anyone who tells you losing periods can be avoided or short - its not true and even the best forex traders in the world will suffer long periods of losses of course they win longer term - but short term they must ride out the loss and stay focused.
Another key element in choosing one is you MUST understand the logic the system is based on and have confidence in it otherwise; you will never follow it through periods of losses and execute the trading signals with discipline.
To find the best Forex robots you need to do some research and ignore all the hyped ones, with there simulated track records. If you do this, you can find a good automated forex trading system which can make you great long term profits, in around 30 minutes per day.
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1 comment:
If you are looking to profit from an extra 100-200 pips on a daily basis then I suggest that you check out Fast FX Profit.
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