Forex robots are big business online and most promise big gains with no real effort on your part - all you do is following the trading signals and the profits will come - but do they deliver and which are the best? Lets find out...
The first point to make is most Forex robots simply don't work and while the track record looks attractive it's a back test on historical data and all the vendor does is -look at his Forex charts and decide where he wants to buy and sell and of course this is easy as he knows all the highs and lows!
When these robots are traded for real they lose, as no two data sequences repeat exactly ever again, the system collapses in real time and the trader gets wiped out.
Most of these robots are simply great marketing copy and you don't get a track record that Warren Buffet would be proud of for $100 - period.
Do any Forex Robots Work?
Yes they do - but you have to understand certain key points if you want to make money with them. A good Forex robot can achieve the following:
- Gains of up to 100% per annum
- Drawdown of equity between 25 - 50%
- Length of drawdown before new high 2 - 6 months
As you can see you see the best do make healthy profits but you must accept there long term and that you have to sit on months of losses and still execute the trading signals but if you have discipline and take a long term view, you can make a lot of money.
Make Money This Way
Get rid of the simulated paper systems and find some ones with good solid track records, understand how they work, so you can follow them with discipline and stick with them and you can enjoy currency trading success.
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2 comments:
If you're seeking to generate an extra 100-200 pips every day then I suggest that you try Fast FX Profit.
Forex Trendy is an advanced application capable of determining the safest continuation chart patterns. It scans through all the forex pairs, on all time frames and analyzes every potential breakout.
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