Forex Robots – Why Do Most Give Users Losses and Destroy Account Equity Quickly?
There are numerous forex robots for sale and most of them will simply wipe your account equity out, there are a few worth considering and this article is all about finding the few good ones…
If you want to get rid of the vast bulk of robots look for the ones that have track record that is to good to be true and exaggerated claims – then check the risk warning and you will normally see, the track record is simply a paper, back tested simulation, done with the benefit of hindsight.
So you have a forex robot that claims it can make you money but is actually not proven itself and has a made up track record.
Don’t be taken in, my 8 year old daughter could get a track record of gains if, she had all the closing prices and you could too. You don’t get a lifetime income for $100 or so and no effort, that’s not the real world of trading.
Are there any good forex trading systems for sale?
Get a Real Track Record
There are and some have solid track records over a few years in real time – but you have to find them. They cost a few thousand dollars not 100 odd bucks but you at least have some evidence the system has worked and is based on sound logic.
A FREE One For Big Gains
There are other options as well and believe it or not, you can get a free one which has been used by savvy traders for over 20 years and it’s made countless millions.
This one may be simple and doesn’t come with fancy packaging however it works and will continue to do so. We have written about it in our other articles so look them up, it’s called Richard Donchian’s 4 Week Rule.
Building Your Own Is Easy!
You can also build your own in a few weeks and it’s a lot easier than most traders think to do this. We have written on how to put together a simple, robust, breakout system and it’s a great way to make money.
There is a huge advantage of building your own automated forex trading system and that is – you will understand it and because you understand it, you will have the confidence and discipline to follow it through losing periods.
Executing Your System With Discipline
When you trade any mechanical forex trading system, you will have losses and you must trade through them with discipline and keep executing your trading signals. Keep in mind, if you can’t trade with discipline, you don’t have a system!
Forex robots can work and give you an objective, time efficient, way to make money but you need to be aware that, you need to look longer term and you need to trade with discipline.
Most of the forex robots sold won’t give you profits, there are however some that can make you money.
If you take on board, what we have said in this article, you can find or build one, that can make you great long term profits.
by Samuel Leslie Berkovits
About the Author:
If you want to get rid of the vast bulk of robots look for the ones that have track record that is to good to be true and exaggerated claims – then check the risk warning and you will normally see, the track record is simply a paper, back tested simulation, done with the benefit of hindsight.
So you have a forex robot that claims it can make you money but is actually not proven itself and has a made up track record.
Don’t be taken in, my 8 year old daughter could get a track record of gains if, she had all the closing prices and you could too. You don’t get a lifetime income for $100 or so and no effort, that’s not the real world of trading.
Are there any good forex trading systems for sale?
Get a Real Track Record
There are and some have solid track records over a few years in real time – but you have to find them. They cost a few thousand dollars not 100 odd bucks but you at least have some evidence the system has worked and is based on sound logic.
A FREE One For Big Gains
There are other options as well and believe it or not, you can get a free one which has been used by savvy traders for over 20 years and it’s made countless millions.
This one may be simple and doesn’t come with fancy packaging however it works and will continue to do so. We have written about it in our other articles so look them up, it’s called Richard Donchian’s 4 Week Rule.
Building Your Own Is Easy!
You can also build your own in a few weeks and it’s a lot easier than most traders think to do this. We have written on how to put together a simple, robust, breakout system and it’s a great way to make money.
There is a huge advantage of building your own automated forex trading system and that is – you will understand it and because you understand it, you will have the confidence and discipline to follow it through losing periods.
Executing Your System With Discipline
When you trade any mechanical forex trading system, you will have losses and you must trade through them with discipline and keep executing your trading signals. Keep in mind, if you can’t trade with discipline, you don’t have a system!
Forex robots can work and give you an objective, time efficient, way to make money but you need to be aware that, you need to look longer term and you need to trade with discipline.
Most of the forex robots sold won’t give you profits, there are however some that can make you money.
If you take on board, what we have said in this article, you can find or build one, that can make you great long term profits.
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 and more on this great FREE Forex Robot and an exclusive risk free Currency trading Course visit our website.
December 19, 2009 No Comments
Forex Robot Myths – if You Believe Them They Will Lose You Money
Forex robots are very popular but most don’t make money and rely on clever ad copy which promotes 4 myths which are not true and if you believe them, you will lose – here they are. Most automated Forex trading system sales copy promotes the myths below, so make sure you avoid any system that makes ANY of these claims.
1. Back Tested Track Records Will Repeat in Real Time
So how can a Forex Robot have a better track record than the world’s top fund managers, who are paid millions in salary and you get it for a mere $100.00 – Why so cheap?
Most track records promoted are simulations backwards, knowing the closing prices! Well that’s hard let me see…I know EXACTLY where prices went so lets just buy and sell at the highs and lows and make a fortune. We can all do this but problem is can’t spend paper profits.
Of course a back test means nothing in terms of future profits, as you don’t have the advantage of knowing the prices in advance when you trade in the brutal real world of Forex trading.
2. Periods and Size of Losses will be Minor
Not only so you get huge gains you don’t even see many losses or losing periods that last long well that’s not the real world and can only be done in simulation. In the real world, even the best Forex trading systems lose for weeks or months on end and I have never seen a drawdown of less than 25% on even the top systems.
If you want to trade an automated Forex trading system, you will need to appreciate losing periods are part of the game and you need to focus on long term results.
3. You Don’t Need to Know Anything About Forex
You need to know how and why your system will make money and this means you need to know how Forex prices move and how the logic of the system works.
You will with any Forex trading system have losses and you need to have discipline to trade through a losing period, until you hit a home run. To do this, you must have discipline and this is based on knowledge and confidence so you need to know what you are doing to stay with your system.
4. Robots are Better than Humans
Robots are only as good as the human who has programmed them! Both trading with an automated Forex trading system or doing your own analysis, have their merits but a Robot is not superior at all.
There is a lot of rubbish written about complex mathematical formulas being the route to success but as the markets don’t move to mathematics it’s of limited use. When trading an odds market, simple systems work better than complicated ones. If you see a system by a nerd, talking about how he has cracked the code of market behavior, move on.
How to Win With Forex Trading Software
Get a simple system, which has a real time track record you understand, can trade with confidence, be realistic that you will face short term losses and judge your system over the long term.
If you do this you could soon be making big profits in under 30 minutes a day.
by Kelly Price
About the Author:
1. Back Tested Track Records Will Repeat in Real Time
So how can a Forex Robot have a better track record than the world’s top fund managers, who are paid millions in salary and you get it for a mere $100.00 – Why so cheap?
Most track records promoted are simulations backwards, knowing the closing prices! Well that’s hard let me see…I know EXACTLY where prices went so lets just buy and sell at the highs and lows and make a fortune. We can all do this but problem is can’t spend paper profits.
Of course a back test means nothing in terms of future profits, as you don’t have the advantage of knowing the prices in advance when you trade in the brutal real world of Forex trading.
2. Periods and Size of Losses will be Minor
Not only so you get huge gains you don’t even see many losses or losing periods that last long well that’s not the real world and can only be done in simulation. In the real world, even the best Forex trading systems lose for weeks or months on end and I have never seen a drawdown of less than 25% on even the top systems.
If you want to trade an automated Forex trading system, you will need to appreciate losing periods are part of the game and you need to focus on long term results.
3. You Don’t Need to Know Anything About Forex
You need to know how and why your system will make money and this means you need to know how Forex prices move and how the logic of the system works.
You will with any Forex trading system have losses and you need to have discipline to trade through a losing period, until you hit a home run. To do this, you must have discipline and this is based on knowledge and confidence so you need to know what you are doing to stay with your system.
4. Robots are Better than Humans
Robots are only as good as the human who has programmed them! Both trading with an automated Forex trading system or doing your own analysis, have their merits but a Robot is not superior at all.
There is a lot of rubbish written about complex mathematical formulas being the route to success but as the markets don’t move to mathematics it’s of limited use. When trading an odds market, simple systems work better than complicated ones. If you see a system by a nerd, talking about how he has cracked the code of market behavior, move on.
How to Win With Forex Trading Software
Get a simple system, which has a real time track record you understand, can trade with confidence, be realistic that you will face short term losses and judge your system over the long term.
If you do this you could soon be making big profits in under 30 minutes a day.
by Kelly Price
About the Author:
FREE ESSENTIAL FOREX TRADING PDF’s! + FREE PROVEN FOREX ROBOT!
For 2 essential free trading Pdf’s and for more on the Best Forex Robots and an exclusive RISK FREE Forex Trading Course visit our website.
December 19, 2009 No Comments
SECRET About Forex Expert Advisors – FAP Turbo Is The BEST Secret Yet !
www.ForexAutopilotRobot.com – Secret About Forex Expert Advisors – FAP Turbo Is The BEST Secret Yet ! Fap Turbo is best known as a “scalper” – meaning that it opens and …. Forex Trading Secrets – The Key Secret All Traders Need to Know For SECRET About Forex Expert Advisors FAP Turbo Is The BEST Secret automatedautomatic bar best course currency day daytrading demonstration dollar earn easy education euro exchange fibonacci foreign forex fortune futures fx how income inside invest investment learn lesson market markets mechanical methods money online pin pivot points price profits retracement robot scalp scalping signals software stocks strategies strategy system systems target technical trade trader traders
by TomasVoler
About the Author:
by TomasVoler
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December 19, 2009 No Comments
