You will see lots of forex robots for sale and the ones you see promoted heavily simply don't work but there are some that do and this article will help you find them...
So why don't most forex robots promoted online work?
The answer is simple - they have NEVER even been traded!
This might strike you as odd, as they all have what appear to be stunning track records but look a bit closer and you will see the disclaimer which, has "simulated in hindsight" all over it. In case you haven't guessed this means the track record was done knowing the closing prices on paper so, not really to hard.
It's obvious that you won't make 200k income for $100 outlay life is simply not like that but there are forex robots that work. Before we go into how to find them lets be clear the best robots will do 50 - 100% annualized and they will have weeks or months of drawdown and it's a nice long term gain but you need to be patient and trade through the losses.
All system have drawdown periods and don't let anyone tell you otherwise. There is a really good free one we have written about called the 4 Week Rule and you can look up our other articles but its very effective just one rule:
Buy a four week high and sell a 4 week low and keep a position always in the market. In fact for this forex trading system is so simple, you don't even need a computer to do the calculation!
Don't be deceived by its simplicity, it will put you on the right side of every major trend and works on the theory which is true that most big trends start from breakouts. This system has been at the heart of a number of successful forex trading strategies and will work and continue to work.
If you want to buy a forex trading system, look for the following and shop around.
- A long term track record, of real gains over a few years
- The logic revealed so you can understand how it works. This will give you the discipline to trade it
- No optimization. This is when different rules and variables are used when trading different contracts. If the system is logical and robust it will use the same for all markets
- Support from the vendor. Check he is on hand to help you and how much time it takes
- Check the worst drawdown, so you know what to expect in terms of losses and assume your worst drawdown is ahead of you
- Look for overall simple, robust, logic you can understand and have confidence in.
Be prepared to pay $1,000 for a decent one, or maybe more - but they can make you your money back and a lot more, if you find the right one. Forex robots have a bad reputation overall however there are good ones out there and in terms of the time they take to operate and the long term gains they can achieve, there well worth hunting out.
Find the right one and you can enjoy currency trading success for very little effort.
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