The best Forex EA's claim they can double your income every month with low risk and best of all you make no effort as the sophisticated algorithms work while you go about your daily business - is this myth or reality? Let’s find out.
I have been a trader for over 25 years and have never seen any system or trader double their money regularly, this includes even the world’s top traders on millions a year in salaries and bonuses. Of course if it were true, no one would work - banks and investment houses would sack there dealing teams and use a $100 Forex robot of course, this has not happened.
If it looks to good to be true it is and this is the case with Forex automated trading systems.
You can win at Forex trading and make a lot of money but let’s look at why the facts don’t add up in relation to the robots first.
Where are the Real Audited Track Records?
Try and find one and your in for a long search!
You get mostly back tests ( done knowing the closing prices) which is easy, or track records from the vendor themselves Its up to you if you believe them - but lets look at a fact of Forex trading which shows you why you cannot guarantee regular profits.
Fact: Forex markets cannot be predicted and do not move to mathematical formulas so if they don’t what use is a complex mathematical algorithm? None!
It’s a known fact that simple systems work best, as in Forex your trading only the odds, not certainties. In an odds based market, a simple system is more robust, with fewer elements to break than a complex one. Its obvious Forex markets don’t move to mathematics as if they did, we would all know the price in advance and there would be no market!
So can you make money trading Forex?
Of course you can but its not as easy as spending a $100 or so and making money with no effort that’s not life and certainly not Forex trading.
The way to win is to get yourself a simple Forex trading system and get the right Forex education, get confidence and trade with discipline. If you do this, the rewards can be life changing but you have to make an effort.
If you are serious about making money at Forex trading, don’t think you can simply do it with no effort.
We marvel at how technology changes our lives for the better and many think it can help in Forex but the fact below will dispel this myth.
Fact: In the last 30 years, we have seen huge advances in technology in trading yet, the ratio of winners to losers remains the same - 95%. So technology, robots etc haven’t helped.
If you want to win in Forex trading get the right education and don’t believe in the automatic income, with no effort myth. If however you do take Forex trading seriously and make an effort, huge rewards await you.
Forex Trading System - Autopilot Trading Robots
If you’ve been considering a Forex robot to help you get more from your currency trading endeavors it’s important to understand exactly how they work. One of the benefits that comes with autopilot Forex robots and profiting from them is that it doesn’t matter if you are a novice or even a ten year pro, Forex robots tend to help make life a lot easier. Here are six advantages listed when looking to profit with a Forex system.
Advantage #1: Constant Trading
One of the biggest advantages of using Forex robots is they allow you to trade constantly, even when you are sleeping and dreaming of how to spend those returns. That’s because the Forex expert advisors that automatically make trades on your behalf will be able to keep working as long as the market stays open which is 24 hours a day. Remember the Forex market is a global market.
Advantage #2: Knowledgeable Trade Advice
Another major benefit of Forex robots is they provide you with some of the best trading advice possible. While you may have other sources for your information, you’ll quickly discover that no human mind can possible be as accurate as these programs which can use past performance and present market indicators to make trades for you that can be potential winners between 75% and 99% of the time, depending on the particular robot you choose to use. Either way, you’re definitely getting a better deal than you would in Las Vegas.
Advantage #3: Using Robots is Not Cheating the Market
There is nothing illegal or improper about using automated forex trading systems. In fact, you might say they provide a more balanced playing field. High rolling investors have access to similar types of tools through their high-end brokers and no ordinary Forex trader would ever be allowed to have access to that bevy of information. Thanks to the Forex robots you’re actually going to have access to what they know but in an easier to use and more affordable way. Those brokers can be quite pricey.
Advantage #4: No Emotional Trading
The biggest mistake novice and experienced traders make is allowing their emotions to get in the way of what the facts demonstrate is a good trade. You just can’t do that and expect to make money in any market. When you turn over the trades to the computer, emotions completely go out the window. The computer doesn’t make decisions on anything but pure, cold logic and that’s exactly what you want if you’re interested in getting the biggest returns for your investment.
Advantage #5: Ease of Use
Most of the Forex robots on the market today are easy to use, even for novices. They can be installed on your computer or operated via a web-based browser. Regardless of the method you prefer, you’ll find that the Forex robots provide a wide-range of advantages that will make the software quickly one of your most valuable purchases. And after a few short trades it will undoubtedly pay for itself.
Advantage #1: Constant Trading
One of the biggest advantages of using Forex robots is they allow you to trade constantly, even when you are sleeping and dreaming of how to spend those returns. That’s because the Forex expert advisors that automatically make trades on your behalf will be able to keep working as long as the market stays open which is 24 hours a day. Remember the Forex market is a global market.
Advantage #2: Knowledgeable Trade Advice
Another major benefit of Forex robots is they provide you with some of the best trading advice possible. While you may have other sources for your information, you’ll quickly discover that no human mind can possible be as accurate as these programs which can use past performance and present market indicators to make trades for you that can be potential winners between 75% and 99% of the time, depending on the particular robot you choose to use. Either way, you’re definitely getting a better deal than you would in Las Vegas.
Advantage #3: Using Robots is Not Cheating the Market
There is nothing illegal or improper about using automated forex trading systems. In fact, you might say they provide a more balanced playing field. High rolling investors have access to similar types of tools through their high-end brokers and no ordinary Forex trader would ever be allowed to have access to that bevy of information. Thanks to the Forex robots you’re actually going to have access to what they know but in an easier to use and more affordable way. Those brokers can be quite pricey.
Advantage #4: No Emotional Trading
The biggest mistake novice and experienced traders make is allowing their emotions to get in the way of what the facts demonstrate is a good trade. You just can’t do that and expect to make money in any market. When you turn over the trades to the computer, emotions completely go out the window. The computer doesn’t make decisions on anything but pure, cold logic and that’s exactly what you want if you’re interested in getting the biggest returns for your investment.
Advantage #5: Ease of Use
Most of the Forex robots on the market today are easy to use, even for novices. They can be installed on your computer or operated via a web-based browser. Regardless of the method you prefer, you’ll find that the Forex robots provide a wide-range of advantages that will make the software quickly one of your most valuable purchases. And after a few short trades it will undoubtedly pay for itself.
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