Forex trading robots are all over the internet, costing around $200.00 or less they promise a huge income monthly with no effort for the cost of a night out at the bar. So if you can make money so easily why is everyone not trading and giving up their jobs? The answer of course is they don’t work and the reason why is enclosed.
Forex robots promise huge gains, with little or no draw down which if these track records were true would mean they were producing better gains that super traders like George Soros, Larry Hite or Jimmy Rodgers and these are billionaire traders – doesn’t quite add up does it? Of course it doesn’t and a quick look at the track records will explain why.
You get big claims but where is the independent verification of results? You don’t, of course get any verification because these robots have simply not made the gains they claim.
Most robots base their track records on simulations going backwards over closing price data and this of course is easy because – you know all the highs and lows in advance! In the real world of trading you don’t know this key data and that makes trading a lot harder.
Some Forex robot vendors produce gains they say are real but there is no outside verification from a neutral party and you are taking the word of the person selling the system.
In reality the reason you can buy these robots so cheaply is – they don’t make money and the only person generating the regular income is the vendor of the system.
If you want to make money in Forex trading forget these cheap, get rich quick systems and do what all successful traders do and that’s learn skills. In life to make money you have to learn the basics and put in some effort but the good news about currency trading is for the effort you make, no other industry can reward you so well as global currency trading.
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