The Real Money Forex Robot
ots are nothing more than automated software that will search for profitable trades and then make your currency trades for you based upon their particular design specifications. I cannot really say how they work but they are reported to be based upon specific algorithms.
Not all forex robots work the same. Some are designed differently then others. It all depends upon how they were constructed and who made them. I would highly recommend that you do a great deal of due diligence when selecting a forex robot.
Here are ten tips on what to look for when selecting a forex robot:
1. Look for review sites and forex forums and discussion groups. Look to see how your robot stacks up against other robots.
2. Does the robot, software or the company allow you to, or suggest how you may begin with a small trading account? This way your losses if any will be minimized.
3. Does the company offer a benefits comparison chart?
4. Does the company have a good FAQ page to explain anything that may come up? This shows that the company has thought out the process.
5. How is the customer service for the company set up? Does it appear to be thorough and reachable?
6. Does the company offer paper trading so that you can test the robot software system to ensure that it really works as advertized?
7. Also make sure that the software works with live trading. Most good robots will offer proof of live trading success.
8. Make sure that the company offers a good return policy. You should be looking for at least a 60 day money back guarantee. This should give you ample time to check out the software system.
9. Look for the buzz. If you read a lot of good publicity about a particular software and there\’s a lot of good chatter going on then chances are it is a good robot.
10. Also look for video testimonials as opposed to written testimonials. If they have both that\’s good too. Remember seeing is believing and it is a lot harder to get multiple skilled actors to lie on a video. If they look like ordinary people (non actors) and have good things to say, then chances are the software is a good piece of software and the testimonials are more than likely legitimate.
by Oliver Allen
About the Author:
Not all forex robots work the same. Some are designed differently then others. It all depends upon how they were constructed and who made them. I would highly recommend that you do a great deal of due diligence when selecting a forex robot.
Here are ten tips on what to look for when selecting a forex robot:
1. Look for review sites and forex forums and discussion groups. Look to see how your robot stacks up against other robots.
2. Does the robot, software or the company allow you to, or suggest how you may begin with a small trading account? This way your losses if any will be minimized.
3. Does the company offer a benefits comparison chart?
4. Does the company have a good FAQ page to explain anything that may come up? This shows that the company has thought out the process.
5. How is the customer service for the company set up? Does it appear to be thorough and reachable?
6. Does the company offer paper trading so that you can test the robot software system to ensure that it really works as advertized?
7. Also make sure that the software works with live trading. Most good robots will offer proof of live trading success.
8. Make sure that the company offers a good return policy. You should be looking for at least a 60 day money back guarantee. This should give you ample time to check out the software system.
9. Look for the buzz. If you read a lot of good publicity about a particular software and there\’s a lot of good chatter going on then chances are it is a good robot.
10. Also look for video testimonials as opposed to written testimonials. If they have both that\’s good too. Remember seeing is believing and it is a lot harder to get multiple skilled actors to lie on a video. If they look like ordinary people (non actors) and have good things to say, then chances are the software is a good piece of software and the testimonials are more than likely legitimate.
by Oliver Allen
About the Author:
December 13, 2009 No Comments
Is Searching for Free Expert Advisors Costing You Time and Money?
With the increase in popularity of automated trading systems there are a lot of people searching for free expert advisors. It’s understandable that people would want to save money, but consider how little money you are actually saving and how much it may be costing you to save that money.
With an expert advisor you will be depending on it to manage your money for you. When it comes to something that will be managing your own hard earned money and potentially making you thousands of dollars or more the price you pay for that expert advisor is minimal.
You may be able to find a free or even a cracked version of an EA and you can back test it but back testing isn’t always reliable. Especially with short term trading. The only way to get accurate results is with live trading, which takes time. By the time you find and test a bunch of free EA’s you could have spent less than $150 and bought an EA with a proven and well documented track record, tested it and have it making thousands of dollars for you.
You may be able to find cracked versions of the proven EA’s but they will probably be older versions and you won’t get updates. If MetaTrader updates their platform and your crack no longer works you will be out of luck. By the time you find an updated crack the paid version could have made you many times it’s purchased price. Or if the programmers fine tune the EA so it makes more proffits you get to miss out on that. Not to mention pirated software is not legal and you are easily traceable through your forex account.
If you are ready to stop tripping over pennies on your way to dollars you will probably be much better off buying a proven well documented EA than you will be spinning your wheels looking for something free.
Watch the forex expert advisor that I am using trade a live forex account.
by M Wilson
About the Author:
With an expert advisor you will be depending on it to manage your money for you. When it comes to something that will be managing your own hard earned money and potentially making you thousands of dollars or more the price you pay for that expert advisor is minimal.
You may be able to find a free or even a cracked version of an EA and you can back test it but back testing isn’t always reliable. Especially with short term trading. The only way to get accurate results is with live trading, which takes time. By the time you find and test a bunch of free EA’s you could have spent less than $150 and bought an EA with a proven and well documented track record, tested it and have it making thousands of dollars for you.
You may be able to find cracked versions of the proven EA’s but they will probably be older versions and you won’t get updates. If MetaTrader updates their platform and your crack no longer works you will be out of luck. By the time you find an updated crack the paid version could have made you many times it’s purchased price. Or if the programmers fine tune the EA so it makes more proffits you get to miss out on that. Not to mention pirated software is not legal and you are easily traceable through your forex account.
If you are ready to stop tripping over pennies on your way to dollars you will probably be much better off buying a proven well documented EA than you will be spinning your wheels looking for something free.
Watch the forex expert advisor that I am using trade a live forex account.
by M Wilson
About the Author:
December 13, 2009 No Comments
Forex Expert Advisors – Why the Vast Majority Will Wipe Out Your Account Quickly!
There are lots of systems and Forex Robots sold online which have the name Forex Expert Advisors but most are not experts at all, because they all have one fatal flaw and we will discuss it in this article…
An expert is someone by definition that can accomplish a task in their field of expertise and in Forex trading that means making money.
Look at any Forex robot or system promoted heavily and you will see they have never made any real money – its all on paper!
The track records are simulated backwards, over a segment of historical data and the vendor simply buys and sells, knowing what happened and hey presto – you have a track record that Warren Buffet would probably be proud of, all yours for $100.00!
Of course in the real world, these Expert Advisors get wiped out in the market. The user wonders why he made no profits and the reason is of course, that the system has not been tested in real conditions – just an easy, simulation knowing all the price history.
Are there any good ones?
Yes there are – but most don’t call themselves the grand name of Forex Expert Advisor, its just plain old Forex trading system. They have real track records and not so much hype – but there out there and they can make you money. There are in fact, even a few good Forex trading systems which are free, won’t cost you a cent and they work.
Take a look around and always if you see the world expert, look at the small print and see if the track record is a back test, if it is pass it by.
Look for real performance in the market, so at least you know the system has achieved the aim – making real dollars, in real market conditions.
by Samuel Leslie Berkovits
About the Author:
An expert is someone by definition that can accomplish a task in their field of expertise and in Forex trading that means making money.
Look at any Forex robot or system promoted heavily and you will see they have never made any real money – its all on paper!
The track records are simulated backwards, over a segment of historical data and the vendor simply buys and sells, knowing what happened and hey presto – you have a track record that Warren Buffet would probably be proud of, all yours for $100.00!
Of course in the real world, these Expert Advisors get wiped out in the market. The user wonders why he made no profits and the reason is of course, that the system has not been tested in real conditions – just an easy, simulation knowing all the price history.
Are there any good ones?
Yes there are – but most don’t call themselves the grand name of Forex Expert Advisor, its just plain old Forex trading system. They have real track records and not so much hype – but there out there and they can make you money. There are in fact, even a few good Forex trading systems which are free, won’t cost you a cent and they work.
Take a look around and always if you see the world expert, look at the small print and see if the track record is a back test, if it is pass it by.
Look for real performance in the market, so at least you know the system has achieved the aim – making real dollars, in real market conditions.
by Samuel Leslie Berkovits
About the Author:
FREE ESSENTIAL FOREX TRADING PDF’s! + FREE PROVEN FOREX ROBOT!
For 2 essential free trading Pdf’s and for more on a successful FREE Automated Forex Trading System and an exclusive RISK FREE Forex Trading Course visit our website.
December 13, 2009 No Comments
Forex Expert Advisors – Choosing One to Help You Make Money
There are lots of people claiming to be Forex expert advisors and anyone can but most are anything but there is one way of checking before you buy there services and if you want to find the best you need to do it…
It may sound odd but most traders take Forex advice from people who have never proven themselves as good at what they do i.e. make money in real time.
Beware of the Back Test Simulation!
They fall for the simulated track record and a prime example of this is the automated Forex expert.
Just turn on your computer on, install the software and make a mint from their Forex robot. The track record always looks good – but it’s not REAL!
Check the risk warning and you will normally find it’s a simulated back test on paper knowing all the closing prices. How hard is it to make a profit with all the facts to hand?
Not hard at all I could be a multi millionaire, if I knew tomorrow’s closing price today but you don’t get this advantage in real time trading!
So why on earth would you trust someone with your hard earned cash, if they have no proof of making money for themselves? A huge amount of traders do trust them and they get wiped out.
You don’t get financial freedom for $100 and no work on your part, that’s not the real world that’s fantasy.
If you are looking for a Forex expert advisor always look for proof they are traders and not just marketing companies pedalling meaningless simulations.
The Real Role of an Expert Advisor
Is to give you the skills that you can apply yourself with confidence and discipline to ensure your trading success.
Trading success is dependant on you and your discipline – let me give you a motivating example of this and how anyone can with the right Forex expert advice.
In a famous trading experiment trading legend Richard Dennis taught a group of people with no trading experience to trade in 14 days and gave them trading accounts. The result was they went on to make $100 million in profit! So what did Dennis do to ensure success?
He taught them a system that was simple, so simple in fact that anyone could learn it but he knew this was not enough – they would have to apply it through losing periods and for this, you need confidence in what you are doing to trade with discipline.
Most of the traders when interviewed noted the system was easy to learn – but following it with discipline was the hard part and it is. This is why Dennis didn’t just tell them to follow him blindly – but learn the system and how it worked to give them confidence.
Most traders today are looking to make money with no effort and that’s not real life.
They expect a Forex expert advisor to make them rich but don’t realize it’s up to them.
You can get Forex education all over the net but most of it is worthless, so find a trader who can teach you tools and skills you can apply and you could be on your way to a triple digit income.
by Kelly Price
About the Author:
It may sound odd but most traders take Forex advice from people who have never proven themselves as good at what they do i.e. make money in real time.
Beware of the Back Test Simulation!
They fall for the simulated track record and a prime example of this is the automated Forex expert.
Just turn on your computer on, install the software and make a mint from their Forex robot. The track record always looks good – but it’s not REAL!
Check the risk warning and you will normally find it’s a simulated back test on paper knowing all the closing prices. How hard is it to make a profit with all the facts to hand?
Not hard at all I could be a multi millionaire, if I knew tomorrow’s closing price today but you don’t get this advantage in real time trading!
So why on earth would you trust someone with your hard earned cash, if they have no proof of making money for themselves? A huge amount of traders do trust them and they get wiped out.
You don’t get financial freedom for $100 and no work on your part, that’s not the real world that’s fantasy.
If you are looking for a Forex expert advisor always look for proof they are traders and not just marketing companies pedalling meaningless simulations.
The Real Role of an Expert Advisor
Is to give you the skills that you can apply yourself with confidence and discipline to ensure your trading success.
Trading success is dependant on you and your discipline – let me give you a motivating example of this and how anyone can with the right Forex expert advice.
In a famous trading experiment trading legend Richard Dennis taught a group of people with no trading experience to trade in 14 days and gave them trading accounts. The result was they went on to make $100 million in profit! So what did Dennis do to ensure success?
He taught them a system that was simple, so simple in fact that anyone could learn it but he knew this was not enough – they would have to apply it through losing periods and for this, you need confidence in what you are doing to trade with discipline.
Most of the traders when interviewed noted the system was easy to learn – but following it with discipline was the hard part and it is. This is why Dennis didn’t just tell them to follow him blindly – but learn the system and how it worked to give them confidence.
Most traders today are looking to make money with no effort and that’s not real life.
They expect a Forex expert advisor to make them rich but don’t realize it’s up to them.
You can get Forex education all over the net but most of it is worthless, so find a trader who can teach you tools and skills you can apply and you could be on your way to a triple digit income.
by Kelly Price
About the Author:
NEW! 2 X FREE ESSENTIAL TRADER PDFS ESSENTIAL FOREX TRADING COURSE
For free 2 x trading Pdf’s, with 50 of pages of essential info how to Learn Currency Trading visit our website at: http://www.learncurrencytradingonline.com.
December 13, 2009 No Comments
Secret About Forex Expert Advisors
www.ForexAutopilotRobot.com – Secret About Forex Expert Advisors # Forex Apocalypse Review My $543.00 Forex SECRET BONUS!! Sep 19, 2009 … Forex Apocalypse Review My $543.00 Forex SECRET BONUS! … Forex Apocalypse – Real Forex Expert Advisor or Just Scam? … www.docstoc.com iew-My-54300-Forex-…
by DavidFrelksly
About the Author:
by DavidFrelksly
About the Author:
December 13, 2009 No Comments
Mechanical Forex Robots – a Fantastic Way to Lose Your Account Equity
Mechanical Forex robots are big business online and most promote the road to riches, for just a hundred dollars or so but the reality is they wipe out users equity quickly…
We will look at how to make money in Forex in a moment but first let’s look at Forex robots first.
The dream of Mechanical Forex robot buyers is the following:
- Pay $100 or $200 dollars and get regular income
- Don’t do any work just plug it in
- Double there income every month
- Start with a couple of hundred bucks
The reality of these robots is simply an equity wipe out – do you really believe that you can get a regular income by paying out a couple of hundred of dollars – its to good to be true and if the robots really did work (they have better track records than the words top fund managers) they would sell for countless millions.
The facts are track records presented are simulated in hindsight (made up knowing the closing prices) or presented by the vendor – you never get an independently verified one and the reason is pretty obvious.
Also you can’t make a regular income in an odds market and starting with a couple of hundred dollars even on a good mechanical system is not enough to ride out inevitable periods of drawdown – any trader knows this.
Of course the cheap forex robots you see are not designed by traders and that’s why they make these assumptions that are wrong.
If you want to make money with a forex trading system you can and you can buy a good one with a real track record and you can even find some free ones that make money but don’t expect instant riches these systems are a long term way to make money and do have drawdown.
You can also spend a few weeks learning Forex trading yourself; get a good education and trade with confidence and discipline and start making big profits in just 30 minutes a day.
by Sonia Kristina
About the Author:
We will look at how to make money in Forex in a moment but first let’s look at Forex robots first.
The dream of Mechanical Forex robot buyers is the following:
- Pay $100 or $200 dollars and get regular income
- Don’t do any work just plug it in
- Double there income every month
- Start with a couple of hundred bucks
The reality of these robots is simply an equity wipe out – do you really believe that you can get a regular income by paying out a couple of hundred of dollars – its to good to be true and if the robots really did work (they have better track records than the words top fund managers) they would sell for countless millions.
The facts are track records presented are simulated in hindsight (made up knowing the closing prices) or presented by the vendor – you never get an independently verified one and the reason is pretty obvious.
Also you can’t make a regular income in an odds market and starting with a couple of hundred dollars even on a good mechanical system is not enough to ride out inevitable periods of drawdown – any trader knows this.
Of course the cheap forex robots you see are not designed by traders and that’s why they make these assumptions that are wrong.
If you want to make money with a forex trading system you can and you can buy a good one with a real track record and you can even find some free ones that make money but don’t expect instant riches these systems are a long term way to make money and do have drawdown.
You can also spend a few weeks learning Forex trading yourself; get a good education and trade with confidence and discipline and start making big profits in just 30 minutes a day.
by Sonia Kristina
About the Author:
FREE ESSENTIAL FOREX TRADING PDF’s! + SUCCESSFUL FREE TRADING SYSTEM
For a complete resource on how to win at Forex trading and a proven FREE Forex Trading System and an exclusive RISK FREE Forex Trading Course visit our website.
December 13, 2009 No Comments
Forex Robots – the Fantasy of Easy Profits the Reality of a Swift Wipeout
Of course the theory appeals, plug in a robot and it automatically starts giving you trading signals and you pile up huge profits but this is fantasy land, most will simply wipe your account out and do it quickly…
There are several robots that proudly present back tested track records on what they could have done – but there is a problem here:
You don’t get the advantage of knowing the closing prices in the real world of trading! I can be a millionaire many times over, if I had the future prices today – but I don’t.
Simulated Dollars V Real Dollars
Most of the robots you see (certainly the ones heavily promoted) have track records with simulated and in hindsight written all over them. This proves nothing – its real dollars made, that are the acid test.
Most robots go even further, by presenting there track records better than most fund managers (that’s guys who are paid seven figure fees or more) and yet all you pay is $100! There is no real drawdown (even the best managers will draw down for weeks or months) and 20 – 30% of equity is no uncommon. Doesn’t really add up does it?
I know lots of brokers and as yet, I have not seen a 100 buck robot put them out of a job.
The other thing that always strikes me is the small amounts, you can supposedly turn into large amounts and $100 is often quoted as a minimum.
How do you ride out a drawdown period on that?
Look for Real Dollars
Not all forex robots come with simulated track records and you do get some with long term track records. These have drawdown and realistic gains of between, 30 – 100%, over 3 year holding period. Always look for some real hard evidence that the forex trading system you buy has been applied in the real world of trading.
Anything less than 2 year track record should be discarded.
Most traders want an easy way to make money ( we all do!) but if you are an adult, you know life and making money is not a walk in the park, its hard at times but you can get rewarded if you work at the basics.
Build Your Own Quickly
You can build your own forex trading system and customize it to your risk tolerance; it’s far easy to do, than most people think. If you do build your own forex trading system, you will understand it, have confidence in it and can apply it with discipline for currency trading success.
Reward Requires Effort!
The forex markets offer huge rewards but alas most of the forex robots you see won’t help you win. No effort – no reward in forex trading. So be realistic and get to work, get some proper forex education and your all set to enter the exciting world of global currency trading and win.
by Samuel Leslie Berkovits
About the Author:
There are several robots that proudly present back tested track records on what they could have done – but there is a problem here:
You don’t get the advantage of knowing the closing prices in the real world of trading! I can be a millionaire many times over, if I had the future prices today – but I don’t.
Simulated Dollars V Real Dollars
Most of the robots you see (certainly the ones heavily promoted) have track records with simulated and in hindsight written all over them. This proves nothing – its real dollars made, that are the acid test.
Most robots go even further, by presenting there track records better than most fund managers (that’s guys who are paid seven figure fees or more) and yet all you pay is $100! There is no real drawdown (even the best managers will draw down for weeks or months) and 20 – 30% of equity is no uncommon. Doesn’t really add up does it?
I know lots of brokers and as yet, I have not seen a 100 buck robot put them out of a job.
The other thing that always strikes me is the small amounts, you can supposedly turn into large amounts and $100 is often quoted as a minimum.
How do you ride out a drawdown period on that?
Look for Real Dollars
Not all forex robots come with simulated track records and you do get some with long term track records. These have drawdown and realistic gains of between, 30 – 100%, over 3 year holding period. Always look for some real hard evidence that the forex trading system you buy has been applied in the real world of trading.
Anything less than 2 year track record should be discarded.
Most traders want an easy way to make money ( we all do!) but if you are an adult, you know life and making money is not a walk in the park, its hard at times but you can get rewarded if you work at the basics.
Build Your Own Quickly
You can build your own forex trading system and customize it to your risk tolerance; it’s far easy to do, than most people think. If you do build your own forex trading system, you will understand it, have confidence in it and can apply it with discipline for currency trading success.
Reward Requires Effort!
The forex markets offer huge rewards but alas most of the forex robots you see won’t help you win. No effort – no reward in forex trading. So be realistic and get to work, get some proper forex education and your all set to enter the exciting world of global currency trading and win.
by Samuel Leslie Berkovits
About the Author:
NEW! 2 X FREE ESSENTIAL TRADER PDFS
ESSENTIAL FOREX TRADING COURSE
For free 2 x trading Pdf’s, with 50 of pages of essential info on the best Currency Trading Systems visit our website at: http://www.learncurrencytradingonline.com.
December 13, 2009 No Comments
