Forex Expert Advisors and robots are popular because they offer traders a mechanical way to trade Forex markets and promise a huge income with no effort of course they don’t work for the reasons enclosed.
Every Forex Expert Advisor or Robot I see offers bigger profits with less risk than the world’s top traders achieve and yet they cost only a hundred dollars or so! Of course banks, brokerages and investment houses don’t use them because its obvious they don’t work. Let’s look at the track records in more detail.
All the vendors do to produce a track record of gains is, get the price history and then simulate how they would have bought or sold on the historical data. Now they have an advantage in doing this because they know all the highs and lows; in advance and can simply fit the system to the data, to make it show a profit.
No two segments of Forex trading data over the long term will repeat in the same way again and you cannot fit the system in real time, so the system losses in real time trading.
Another problem is money management parameters because the system has been bent to fit the data, money management rules are either non existent or totally illogical and equity gets wiped out even quickly.
This should really be common sense but buyers simply believe the advertising copy, buy these systems and then are surprised when they lose.
It’s a great story, paying a hundred dollars and getting a money making machine which can double your money each month, with you making no effort but its just a fantasy and not reality. If you want to enjoy currency trading success, you should try a different route which is getting a good Forex education and learning skills.
You don’t make money in Forex without effort but if you make the effort, to learn Forex trading the right way, no other business can offer you such huge profit potential, in relation to the effort you put in than global Forex trading.
NEW! 2 X FREE ESSENTIAL TRADER PDFS
ESSENTIAL FOREX TRADING COURSE
For free 2 x trading Pdf’s, with 50 of pages of essential Forex info and more essential
Forex Trading strategies
visit our website at: