Forex Robots – Essential Facts ALL Buyers Need to Know
Forex robots are the choice of most novice traders and here, we will look at some facts that you need to know before buying one…
Forex robots are a great way to lose money, so let’s look at the claims the vendors make and the facts about robot trading which means you should avoid them.
“You can Double your money Each month”
If you could double your money each year, you would be up there with the best traders in the world, no robot makes gains like the above except in paper back tests.
“You Can trade with 90% accuracy”
The robots claim you can predict the future with their algorithms but of course no one knows the future and prices cannot be predicted. Markets don’t move to mathematical certainties, they move to probabilities so you can forget trying to predict them.
You can trade with less than 1% drawdown
If you are trading Forex and aiming for triple digit gains, this is impossible. It’s an investment fact with reward goes risk and double figure drawdown is inevitable.
“You Don’t need to know what you’re doing to trade with a Robot”
Now this statement is true! You don’t you follow the signals but what’s the point of following something that loses? Go to the casino if you don’t mind losing, at least you will have more fun.
“The Cost is just a few hundred dollars”
You get the hype about how cheap they are and they are so cheap because they don’t make any money. If they really did make the gains they claim, they would be worth hundreds of millions of dollars.
So it’s no surprise to learn that the easy money the vendors of these systems claim you can make is not the reality for the users of these systems. All the heavily hyped robots make no money and never will.
If you want to make money at Forex trading, get a decent education and learn skills and you will be well rewarded for your efforts and enjoy currency trading success.
by Sonia Kristina
About the Author:
Forex robots are a great way to lose money, so let’s look at the claims the vendors make and the facts about robot trading which means you should avoid them.
“You can Double your money Each month”
If you could double your money each year, you would be up there with the best traders in the world, no robot makes gains like the above except in paper back tests.
“You Can trade with 90% accuracy”
The robots claim you can predict the future with their algorithms but of course no one knows the future and prices cannot be predicted. Markets don’t move to mathematical certainties, they move to probabilities so you can forget trying to predict them.
You can trade with less than 1% drawdown
If you are trading Forex and aiming for triple digit gains, this is impossible. It’s an investment fact with reward goes risk and double figure drawdown is inevitable.
“You Don’t need to know what you’re doing to trade with a Robot”
Now this statement is true! You don’t you follow the signals but what’s the point of following something that loses? Go to the casino if you don’t mind losing, at least you will have more fun.
“The Cost is just a few hundred dollars”
You get the hype about how cheap they are and they are so cheap because they don’t make any money. If they really did make the gains they claim, they would be worth hundreds of millions of dollars.
So it’s no surprise to learn that the easy money the vendors of these systems claim you can make is not the reality for the users of these systems. All the heavily hyped robots make no money and never will.
If you want to make money at Forex trading, get a decent education and learn skills and you will be well rewarded for your efforts and enjoy currency trading success.
by Sonia Kristina
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 Successful Forex Trading Strategies visit our website at: http://www.learncurrencytradingonline.com
December 16, 2009 No Comments
Forex Expert Advisors – They Are All Experts In Losing Money Here’S Why
Forex Expert Advisors (EA) are big business but all they do is destroy equity and do it quickly. The reason why they do is obvious and enclosed in this article…
The reason is the heavily sold Forex Expert Advisors have never made any long term gains. Of course you see a track record of gains which is normally a simulation in hindsight knowing the closing prices or you get so called real gains but there never independently verified so you can’t trust them.
Forget the army of affiliates who tell you that they have made money they haven’t, otherwise they wouldn’t advertise the systems for a kick back of a few bucks.
If you think about it the gains that these systems claim cannot be true because if they were, the whole world would be trading and buying financial freedom for a hundred dollars or so. All the buyers of these systems could simply relax on a beach, as the robots piled up huge gains. This of course is a fantasy and not the reality. The reality for buyers is a swift wipeout of equity.
To win at Forex you need to learn skills and get confidence in what your doing and this has always been the case and always will be.
Keep in mind 95% of traders lose and in the case of the naïve or greedy trader who uses an EA, its 100%.
Forex markets offer huge gains and you wouldn’t expect it to be easy to make money, with such huge rewards, thats why have to learn skills and pay your dues. Leave these systems, with there exaggerated claims to the losers and get yourself a good Forex education and enjoy currency trading success.
by Sonia Kristina
About the Author:
The reason is the heavily sold Forex Expert Advisors have never made any long term gains. Of course you see a track record of gains which is normally a simulation in hindsight knowing the closing prices or you get so called real gains but there never independently verified so you can’t trust them.
Forget the army of affiliates who tell you that they have made money they haven’t, otherwise they wouldn’t advertise the systems for a kick back of a few bucks.
If you think about it the gains that these systems claim cannot be true because if they were, the whole world would be trading and buying financial freedom for a hundred dollars or so. All the buyers of these systems could simply relax on a beach, as the robots piled up huge gains. This of course is a fantasy and not the reality. The reality for buyers is a swift wipeout of equity.
To win at Forex you need to learn skills and get confidence in what your doing and this has always been the case and always will be.
Keep in mind 95% of traders lose and in the case of the naïve or greedy trader who uses an EA, its 100%.
Forex markets offer huge gains and you wouldn’t expect it to be easy to make money, with such huge rewards, thats why have to learn skills and pay your dues. Leave these systems, with there exaggerated claims to the losers and get yourself a good Forex education and enjoy currency trading success.
by Sonia Kristina
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 an exclusive RISK FREE Currency Trading Course visit our website at: http://www.learncurrencytradingonline.com
December 16, 2009 No Comments
Is There a No Loss Forex Robot?
A no loss forex robot, 100% risk free forex trading, sounds like a dream come true. However one man, Don Steinitz believes he has found the solution. After practising his trading style manually and talking about it on a popular forex forum, he decided to see if he could automate it.
This he did with a Chinese programmer who kindly and without charge built Don a working prototype. When he tried it he couldn’t believe it. Every single trade that the robot initiated made a profit. Don wanted to be certain that this was not a fluke and issued the code as open source so that others could check it out. He then went on to seek voluntary contributions from the web and employed a programmer to create his working version. Don Steinitz claims that in back testing and since he has started running his software live he has consistently traded without loss. And as more and more people have started using his software, it has become more and more popular through referrals.
Steinitz uses the principles of Gann’s theory that the markets are essentially geometric. The shortest time frame is the one in which you will trade, and then, there are two longer time frames to put each one into proper perspective. Coupled with the use of the Heiken Ashi smoothed Indicator, the software is able to give an early indication of a counter trend allowing the software to get into the market early and benefit from the counter trend.
Steinitz is not hesitant about proving his results and explaining how his forex robot works. For anyone considering investing in forex automated software, it is essential that they first, fully understand the risks of trading on forex, and second have a good idea of what they are buying as a forex robot. Remember though, that the price of these robots for many forex traders is probably less than they invest, and on occasion, lose, on a daily basis.
Other forex robots such as Fapturbo and the Forex MT4 Expert Scalper also boast astonishing success rates, both claiming to more than double the initial investment traded on a monthly basis. One of these is $50 cheaper and the other is five times more expensive. As their don’t seem to be any clear cut methods to determine how to decide which is the best forex robot, at the end of the day it is up to the individuals own judgement about which forex trading robot to invest in.
If you want to know more about forex, find out about the latest Forex Robots and get a free 114-page guide for new and home traders, visit www.forex-wizard.info Craig Summer is an Internet Publisher and Author.
by Craig Summer
About the Author:
This he did with a Chinese programmer who kindly and without charge built Don a working prototype. When he tried it he couldn’t believe it. Every single trade that the robot initiated made a profit. Don wanted to be certain that this was not a fluke and issued the code as open source so that others could check it out. He then went on to seek voluntary contributions from the web and employed a programmer to create his working version. Don Steinitz claims that in back testing and since he has started running his software live he has consistently traded without loss. And as more and more people have started using his software, it has become more and more popular through referrals.
Steinitz uses the principles of Gann’s theory that the markets are essentially geometric. The shortest time frame is the one in which you will trade, and then, there are two longer time frames to put each one into proper perspective. Coupled with the use of the Heiken Ashi smoothed Indicator, the software is able to give an early indication of a counter trend allowing the software to get into the market early and benefit from the counter trend.
Steinitz is not hesitant about proving his results and explaining how his forex robot works. For anyone considering investing in forex automated software, it is essential that they first, fully understand the risks of trading on forex, and second have a good idea of what they are buying as a forex robot. Remember though, that the price of these robots for many forex traders is probably less than they invest, and on occasion, lose, on a daily basis.
Other forex robots such as Fapturbo and the Forex MT4 Expert Scalper also boast astonishing success rates, both claiming to more than double the initial investment traded on a monthly basis. One of these is $50 cheaper and the other is five times more expensive. As their don’t seem to be any clear cut methods to determine how to decide which is the best forex robot, at the end of the day it is up to the individuals own judgement about which forex trading robot to invest in.
If you want to know more about forex, find out about the latest Forex Robots and get a free 114-page guide for new and home traders, visit www.forex-wizard.info Craig Summer is an Internet Publisher and Author.
by Craig Summer
About the Author:
December 16, 2009 No Comments
The Truth About Forex Trading Softwares and Expert Advisors
I have often been asked by many number of forex traders that I have lost count of, which forex trading software is the best. While I will not answer this directly, I prefer to let you into my vast experience, using automated trading software. While it will be very difficult for me to name a particular software as the best, I will rather try to show you what I consider the best automated forex software, among the many I have had experience with. To start with, an automated forex software is any computer application that assists trader in monitoring, analyzing and placing trades automatically, while removing trader sentiments thus elevating profitability.
The big question, however is, how many trading software actually deliver on these critical objectives? My answer therefore is that, not many of these automated products fulfill these objectives. This is not saying that with scam forex products flying round the websphere, there are no good ones out there. I assure you there are, but very few of them are as profitable as claimed.
However, out of the many automated forex software that I have used, the most profitable to date is PipMax! Expert Advisor developed by one PipYard inc. This software to say the least, has made money for me. Apart from its manual which in my opinion was not well put together, once I was able to set it up has given me the most consistent results so far. I heard this software was developed by one veteran and self taught forex Trader, Michael Miller , whose trading experience strongly reflect in the performance of PipMax! Expert Advisor.
One area where I found this software particularly invaluable is its risk management profile. Be informed that any software that has a risk/reward ratio of less than 1:1(e.g. 2:1 or 4:1) is not worth the keyboard on which it was written. By this I mean for every pip you gain, you risk 4 pips, this apparently is a potentially dangerous trade practices, it is a trade setup indicating a cataclysmic disaster waiting to happen.
PipMax! However differs from these other products by giving you at worst, a risk of 1 pip for every 2 pips you pocket. This clearly, is a professional money management practice, which protects your account as you watch your balance grow.
Please note that this article is not recommending purchase of any of the products mentioned in this write-up. The intention of the author of this article is highlight his experience using this products in order to guide the readers in making informed decisions in the purchase of profitable automated forex trading products.
For more in-depth and thorough review of automated trading systems that I have had different experience using, Please visit my blog at: http://www.rubysol.blogspot.com
by Adedire Olufemi
About the Author:
The big question, however is, how many trading software actually deliver on these critical objectives? My answer therefore is that, not many of these automated products fulfill these objectives. This is not saying that with scam forex products flying round the websphere, there are no good ones out there. I assure you there are, but very few of them are as profitable as claimed.
However, out of the many automated forex software that I have used, the most profitable to date is PipMax! Expert Advisor developed by one PipYard inc. This software to say the least, has made money for me. Apart from its manual which in my opinion was not well put together, once I was able to set it up has given me the most consistent results so far. I heard this software was developed by one veteran and self taught forex Trader, Michael Miller , whose trading experience strongly reflect in the performance of PipMax! Expert Advisor.
One area where I found this software particularly invaluable is its risk management profile. Be informed that any software that has a risk/reward ratio of less than 1:1(e.g. 2:1 or 4:1) is not worth the keyboard on which it was written. By this I mean for every pip you gain, you risk 4 pips, this apparently is a potentially dangerous trade practices, it is a trade setup indicating a cataclysmic disaster waiting to happen.
PipMax! However differs from these other products by giving you at worst, a risk of 1 pip for every 2 pips you pocket. This clearly, is a professional money management practice, which protects your account as you watch your balance grow.
Please note that this article is not recommending purchase of any of the products mentioned in this write-up. The intention of the author of this article is highlight his experience using this products in order to guide the readers in making informed decisions in the purchase of profitable automated forex trading products.
For more in-depth and thorough review of automated trading systems that I have had different experience using, Please visit my blog at: http://www.rubysol.blogspot.com
by Adedire Olufemi
About the Author:
December 16, 2009 No Comments
MetaTrader Broker, Expert Advisors, MetaTrader Australia
www.metatrader.com.au – Metatrader Australia is a portal provding information about Metatrader, Expert Advisors, MetaTrader Brokers, plus more
by mxwaycom12
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by mxwaycom12
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December 16, 2009 No Comments
