You can buy forex trading robots for $100 that promise to make you rich and they appear to have better track records than the top fund managers yet, these managers have not lost their jobs and the reason is obvious...
The forex trading robots you see don't work in real life - Why?
Because the track records produced are not real trades as you would imagine but a back test over historical data. This means the vendor has the luxury of knowing what the price history has done and simply fits his track record to it, makes it look to good to be true and it is.
Back Tests are NOT Real Profits!
Find a great track record and then you can go to the bottom and find the words hypothetical, back test and simulation in the risk warning.
In the real world, you don't have the price close at your fingertips in advance and you have to execute your trading signals without this advantage and guess what? That's a lot harder.
We all want easy money and forex trading robots appeal to greedy, naïve or stupid traders and they then get a lesson from the market that if you want to win, you need to treat it with a bit more respect.
Get the Right Education and Win
Forex trading can make you a lot of money, a great second or even life changing income can be obtained - but you don't get it with no effort on your behalf.
You need the right forex education to give you the skills and then you need to apply them with discipline.
The forex trading systems that promise instant riches don't deliver and if you think about it its obvious - banks, hedge funds and brokerage houses, still employ dealers on salaries of in many instances several million a year and they have not yet sacked them for 100 dollar robot.
If you want to win you can get the right education and remember - forex trading is NOT a walk in the park - but you can win if you have the mindset to learn and apply your skills.
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