Forex Robots – Scams or a Road to Consistent Profits?
Let’s face facts if you could make money with all the forex robots you see, everyone would be traders and not bother to work.
After all you pay 100 and make a triple digit income then you have no need to go to work. Furthermore banks would sack there dealing teams (on seven figure salaries) as a hundred buck robot does better (according to the track records) and reduces the banks salaries dramatically.
Now none of the above has actually happened I know plenty of traders and they don’t use hundred buck robots and I know plenty of bank dealers whoa re still in their jobs earning seven figure salaries and bonuses. So why has the whole world not got into trading forex robots and why are they being sold? Why are the vendors selling them, when they make so much money.
Now a scam to me is when someone takes your money and gives you nothing and most forex robots I see don’t do this so they cannot be considered scams. They give you something describe it and its up to you if you buy it – that’s not a scam and many will genuinely give you your money back.
The main issue is when you have got it, will it make you money and can look forward to putting your feet up, playing golf and leaving your work to a robot? The answer is no, not with the robots I see for sale, because they all have problem which is summed up in this statement:
“CFTC RULE 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading….. 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”.
Look on the promotion for the system and you will probably see it.
This is easy, we can all make paper money knowing the price data but you have to trade forward in the real world and you can’t spend paper money.
Generally, these forex trading systems look at the price data and then keep bending the rules until they have a profit.
The problem is:
No two weeks of data are ever going to repeat exactly again and this means losses, as the rules were bent to fit the snapshot.
This is the flaw and you get many forex trading robots which are clever and lose because they do this and it obviously wont see the same results again.
I once made the mistake of buying one built by an ex NASA employee and never noted he had never made real money, I was to impressed I had a man who had helped man walk on the moon on my side!
What happened to my equity?
The system wiped it out in a couple of weeks and this system cost me $10,000 dollars back in 1991! Ouch.
So are forex robots scams?
No – they give what they say and that’s a system that worked in hindsight – there not deceiving you, they give you the warning, if you decide to take it then that’s up to you. Many will give you your money back but that’s not really much if you get wiped out in the market.
There are very few forex robots with track records that are real of 3 years or more and you can find them but most come with simulated track records and you have to decide, if they will make real money. Me? I think I will give them a miss, even if they worked for NASA!
by Kelly Price
About the Author:
After all you pay 100 and make a triple digit income then you have no need to go to work. Furthermore banks would sack there dealing teams (on seven figure salaries) as a hundred buck robot does better (according to the track records) and reduces the banks salaries dramatically.
Now none of the above has actually happened I know plenty of traders and they don’t use hundred buck robots and I know plenty of bank dealers whoa re still in their jobs earning seven figure salaries and bonuses. So why has the whole world not got into trading forex robots and why are they being sold? Why are the vendors selling them, when they make so much money.
Now a scam to me is when someone takes your money and gives you nothing and most forex robots I see don’t do this so they cannot be considered scams. They give you something describe it and its up to you if you buy it – that’s not a scam and many will genuinely give you your money back.
The main issue is when you have got it, will it make you money and can look forward to putting your feet up, playing golf and leaving your work to a robot? The answer is no, not with the robots I see for sale, because they all have problem which is summed up in this statement:
“CFTC RULE 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading….. 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”.
Look on the promotion for the system and you will probably see it.
This is easy, we can all make paper money knowing the price data but you have to trade forward in the real world and you can’t spend paper money.
Generally, these forex trading systems look at the price data and then keep bending the rules until they have a profit.
The problem is:
No two weeks of data are ever going to repeat exactly again and this means losses, as the rules were bent to fit the snapshot.
This is the flaw and you get many forex trading robots which are clever and lose because they do this and it obviously wont see the same results again.
I once made the mistake of buying one built by an ex NASA employee and never noted he had never made real money, I was to impressed I had a man who had helped man walk on the moon on my side!
What happened to my equity?
The system wiped it out in a couple of weeks and this system cost me $10,000 dollars back in 1991! Ouch.
So are forex robots scams?
No – they give what they say and that’s a system that worked in hindsight – there not deceiving you, they give you the warning, if you decide to take it then that’s up to you. Many will give you your money back but that’s not really much if you get wiped out in the market.
There are very few forex robots with track records that are real of 3 years or more and you can find them but most come with simulated track records and you have to decide, if they will make real money. Me? I think I will give them a miss, even if they worked for NASA!
by Kelly Price
About the Author:
NEW! 2 X FREE ESSENTIAL TRADER PDFS
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For free 2 x trading Pdf’s, with 50 of pages of essential info and more on Forex Robots visit our website at: http://www.learncurrencytradingonline.com.
December 14, 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 LevyUlises
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by LevyUlises
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December 14, 2009 No Comments
Discover the Most Excellent FOREX Robot
If you are having second thoughts about buying FOREX robot, then you are probably already aware of the possible money making opportunities of the FOREX market. For the smaller shareholders in these tough times, developing additional, or multiple, earning streams would seem to be a wise decision. Beginning to explore the FOREX market with FOREX trading program can also be of great help in learning to be familiar with how the market works.
The truth is that the FOREX markets trend and accept that there can be brief reversals of fortune. The trouble is for not as much of traders, the emotional responses can darken your judgment causing you to deal badly with such reversals, or hold on longer than you planned when you see things going your way, simply to lose your gains at the last minute.
The FOREX robot has no such emotions and will only respond according to your principle when setting up the trade. This is one of the key settlements for people trading on FOREX from home. Another chief profit is the complexity of the algorithms that the FOREX robot uses to analyze the markets and the pace with which it estimates them.
Thirdly, the ease with FOREX trading software collect together all of the in sequence you need in order to settle on your trades, and keep in mind that FOREX is a 24 hour market. For those who are just newbies in exploring the FOREX market to decide whether to provide your time and money, a FOREX robot might be the just the thing to help you decide.
To discover the most excellent FOREX robot in undeniably a daunting task as there are many options obtainable online. It is nothing but just mechanized FOREX trading software that can work speculates helping you transact cleverly and earn large sum of money. Continuously select FOREX robot that can work that is unsurpassed for you. There are tested and can get you high-quality results so seek for known FOREX robots.
by jason bb han
About the Author:
The truth is that the FOREX markets trend and accept that there can be brief reversals of fortune. The trouble is for not as much of traders, the emotional responses can darken your judgment causing you to deal badly with such reversals, or hold on longer than you planned when you see things going your way, simply to lose your gains at the last minute.
The FOREX robot has no such emotions and will only respond according to your principle when setting up the trade. This is one of the key settlements for people trading on FOREX from home. Another chief profit is the complexity of the algorithms that the FOREX robot uses to analyze the markets and the pace with which it estimates them.
Thirdly, the ease with FOREX trading software collect together all of the in sequence you need in order to settle on your trades, and keep in mind that FOREX is a 24 hour market. For those who are just newbies in exploring the FOREX market to decide whether to provide your time and money, a FOREX robot might be the just the thing to help you decide.
To discover the most excellent FOREX robot in undeniably a daunting task as there are many options obtainable online. It is nothing but just mechanized FOREX trading software that can work speculates helping you transact cleverly and earn large sum of money. Continuously select FOREX robot that can work that is unsurpassed for you. There are tested and can get you high-quality results so seek for known FOREX robots.
by jason bb han
About the Author:
Best FOREX Robot Can FAP Turbo really help you make money on autopilot in forex? Don’t buy FAP Turbo until you know what you are buying. Click the link below to find out what you need to look out for.
December 14, 2009 No Comments
How Do Forex Expert Advisors Actually Work?
Many people are starting to realise the true value of forex expert advisors. For people who have struggled to make money from forex trading, they can actually generate profits for you automatically, and for experienced pro traders they can provide an additional source of income. So what actually is a forex expert advisor and how does it work?
A forex expert advisor is basically an automated forex robot. It has been programmed by a programmer, or group of programmers, to detect the same high probability set-ups over and over again and trade them for you automatically. They are easy to set up. Most are designed to work with Metatrader 4, so if you have this charting platform on your computer all you do is download the software for the robot you will be using and configure it to work with Metatrader 4. This whole process can be done very easily in just a few minutes.
Then you are all set to go. You enter your stakes and then let the expert advisor trade for you. Of course it should be pointed out that in reality a lot of forex expert advisors are far from perfect. They will make losses just like humans, and some will lose money despite the prior claims of the developer and the product’s sales page. This is why you should try out any expert advisor you buy on a demo account first of all and see how it performs over a certain length of time. If it makes money then you can start thinking about letting it trade a real money account.
The great benefit of these profitable forex robots is that they are basically an additional income stream. No input is needed from you. They can run completely on autopilot (although it’s always a good idea to keep on eye on them at regular intervals just to be safe). They trade without any emotion at all, which is where so many human forex traders come unstuck. All they do is look for the same trading patterns that they have been programmed to detect, and place a corresponding trade whenever they come up.
They are not perfect, and some of the forex expert advisors you will find being sold on the internet are just a complete waste of time and money, but the better ones will pay for themselves many times over. If you can find a forex expert advisor that the developer actually uses themselves to trade the markets, then you are sure to be onto a winner.
by James Woolley
About the Author:
A forex expert advisor is basically an automated forex robot. It has been programmed by a programmer, or group of programmers, to detect the same high probability set-ups over and over again and trade them for you automatically. They are easy to set up. Most are designed to work with Metatrader 4, so if you have this charting platform on your computer all you do is download the software for the robot you will be using and configure it to work with Metatrader 4. This whole process can be done very easily in just a few minutes.
Then you are all set to go. You enter your stakes and then let the expert advisor trade for you. Of course it should be pointed out that in reality a lot of forex expert advisors are far from perfect. They will make losses just like humans, and some will lose money despite the prior claims of the developer and the product’s sales page. This is why you should try out any expert advisor you buy on a demo account first of all and see how it performs over a certain length of time. If it makes money then you can start thinking about letting it trade a real money account.
The great benefit of these profitable forex robots is that they are basically an additional income stream. No input is needed from you. They can run completely on autopilot (although it’s always a good idea to keep on eye on them at regular intervals just to be safe). They trade without any emotion at all, which is where so many human forex traders come unstuck. All they do is look for the same trading patterns that they have been programmed to detect, and place a corresponding trade whenever they come up.
They are not perfect, and some of the forex expert advisors you will find being sold on the internet are just a complete waste of time and money, but the better ones will pay for themselves many times over. If you can find a forex expert advisor that the developer actually uses themselves to trade the markets, then you are sure to be onto a winner.
by James Woolley
About the Author:
To find out more about some of the top forex trading robots please click here to read reviews of Forex Autocash Robot and Forex Roboteer.
December 14, 2009 No Comments
Install Expert Advisors for MetaTrader 4 Forex
www.onestepremoved.com This video overviews Expert Advisors what are they and how to install them into MetaTrader.
by OneStepRemoved
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by OneStepRemoved
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December 14, 2009 No Comments
