Forex Trading Robots – Why Do We not Give Up our Jobs and Use Them?

I checked a forex trading robots track record the other day and if I ran my trading account size on its track record I would be making $324,000 a year! Not bad for an outlay of a few hundred bucks. People fall for these track records, yet they always lose why?

Because their greedy, think forex trading requires no effort or they simply don’t read the disclaimer which is tucked away in the small print.

If you see a track record of a forex automated trading system on the net with this disclaimer then it probably spells a wipe out of equity here it is:

“CFTC RULE 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown”.

So they are not real time profits there paper profits made looking backwards! Would you trust the above?

I know I wouldn’t!

It amazes me how many people buy these unproven systems.

Most of the track records are so good, you wonder why the vendor even bothers selling it – he could make enough money by trading it. Of course he doesn’t, because he knows it won’t win and that’s why you never see a real time track record.

Do savvy forex traders use them, do you see them in bank dealing rooms or do you ever see anyone who has made long term money with them – No you don’t.

Today there is a huge industry in these trading systems and they appeal to the naive and greedy traders, who won’t to make money with no effort.

Of course in life you get out what you put in and forex trading is no different.

Forex trading can offer you the ability to make huge profits and even a life changing income – but you must have the right mindset and get the right forex education.

A forex trading robot probably will destroy your equity – but you don’t have to take the lazy path!

Forex is a challenge, an exciting one, with huge rewards so accept the challenge, get the right forex education and you can enjoy currency trading success.

Forex Trading Robots Vs Manual Trading Which is Best?

Should you buy a forex robot and trust it to lead you to currency trading success or should you learn forex trading yourself and trade manually? Which is more likely to lead you to currency trading success?

Consider this question:

If forex robots make as much as they claim why don’t banks and brokerages sack their fund managers and dealers and use robots?

Think about it – most of the forex trading robots you see claim to make as much, if not more than the best bank dealers, yet only cost a few hundred bucks.

So why don’t the banks and brokerages sack their dealing teams that cost them far more? You could ask yourself as well – why bother working, when you can just sit at home, put your feet up and your robot goes to work for you?

The answer is of course the forex trading robots you see online won’t make you money long term. Why? Well consider this, all the track records you see are made up in hindsight and simulated, there NOT real trading. Here is the typical disclaimer you will see:

“CFTC RULE 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown”.

Think a track record with the above printed on it will make you money? Well try it and see!

These automated trading systems are designed to appeal to the greedy or naive investor and they really should know better – making money in any venture is not easy.

There is one advantage you have over any robot – you are capable of independent thought, no computer can think for itself and your brain is an amazing tool – if you use it correctly.

The rewards with manual trading are huge and you need to work smart and get a set of trading rules, to execute your trading system and have the discipline to follow it.

Forex trading offers huge rewards for the effort you need to put in and anyone can learn to trade – it’s just a question of having the right mindset and right forex education.

Today, we marvel at computers and how they have enriched our lives – but in forex trading the appliance of science is not enough, as markets don’t move to set formula’s, there an odds game. However, if you learn how to trade the odds you can win.

So which is best using a forex robot or manual trading?

You know our view its manual trading although we have seen some robots that can make money (they are either expensive or require tremendous discipline) you can make more if you apply yourself correctly.

Forex trading is a challenge and one you win just keep in mind you can win have confidence in your ability and learn currency trading for long term gains and don’t trust anyone else – especially not a forex trading system with a simulated track record!

Forex Trading Robots – Pro’s and Cons and Cons Come Out Ahead!

Forex trading robots are all over the internet and it’s a wonder anyone works for a living, we could all be trading! This of course is not the reality, so if you are considering buying an automated trading system consider the material which is in this article first…

Let’s take those tremendous track records you see well they are not all they seem. Read the warning below and you will be enlightened.

“CFTC RULE 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown”.

See a forex trading robot track record and you will find the above somewhere and of course it’s really is not money you can spend its all tested backwards!

The real world of forex trading is trading forward and 90% or more of these robots fail miserably and wipe out equity.

These systems are simply bent to past data which of course, never repeats again in the same sequence and the system breaks destroying equity as it does so.

Anyway if they did work they we would all be rich! Pay 100 bucks and were on the road to financial freedom but life is not like that. There is a big industry that tells you forex trading is easy and its pretty clear its not, as 95% of retail traders wipe themselves out pretty quickly.

You can get good forex robots but expect to pay thousands for a decent one with a real track record – they can pay for themselves many times over but they cost.

No if you want to make money at forex trading you have to do your homework and make sure you get the right education and use it with the right mindset.

Forex trading can be learned by anyone – but requires unique skills, which are a combination of knowledge confidence and the discipline to execute a trading plan.

You can build your own forex trading system in about 2 weeks, trade it in about 30 minutes a day and make a lot of money – but understand this no one gives you nothing in this world but you probably knew that!

So get the right education a mindset to succeed and get on the road to forex trading success.