I find the copy for the Forex robots promoted heavily online laughable – pay $100 or so and get better results than the world’s top find managers achieve and pile up thousands as you sleep! Of course they don’t work and the reason is simple and enclosed…
Of course if something claims to make you money, you would have thought it could produce some evidence that it had actually made some money already but none of the heavily promoted robots do – All they do is present a back test they have done on historical data!
Now let’s see how hard that is:
We have all the price history so we can buy and sell where we want and make money but this is only paper money, not real and of course the system which is bent to the data to make a profit backwards never makes money going forwards.
The logic that a back test repeats is simply not true and that’s why these hyped systems get taught a lesson by the market which is simply an account wipe out.
If everyone could make money so easily banks, brokerages and fund managers would sack their dealers and save millions of dollars in salaries and there would be no credit crunch, as everyone would pay 100 dollars and have an income for life, nice fantasy – but not reality.
The idea of automated Forex trading systems making money while you sit back and watch with no losses is laughable.
There are some good systems out there but they require discipline, an acceptance of drawdown for weeks or months on end – sure they win long term but you need one that’s proven and an acceptance that, Forex trading is long term, not a short term get rich in a month market place.
So get a proven system and get the right Forex education so you can stay with your system and follow it with discipline to make long term gains and you can enjoy currency trading success.