Category — Forex Robots
Forex Robot Software – Why Traders Lose With Robots
Forex Robot software is popular but very few traders win with a robot, here we will look at the main reasons why and how to find a Forex trading system that wins…
Forex Robots fail in real time trading because the vast majority are based on unsound logic and have never made any money in real time trading sure, the track records says they have but look a little closer and you will see the reality which is:
The track record is a simulation in hindsight or presented by the vendor with no independent verification.
The claims are extraordinary and are obviously not true:
Double your money each month, little or no drawdown, trade with over 90% accuracy etc and you can get access to these systems (which beat the best traders in the world) for the cost of a night out.
If you listen to the sales copy, you have to make no effort and simply make money while you sleep. Common sense tells you these systems don’t work, they simply look to good to be true and they are.
Now I am not saying you cannot make money with automated Forex software because you can – but let’s look at the reality of trading robots and leave the fantasy behind.
The reality is there are some good solid programs you can use which have made real gains and the best normally make about 50 – 100% per annum with drawdown being around 20 – 50% depending on the risk profile of the system and a typical drawdown period will last for a few weeks.
So great long term gains, if you can ride out short term drawdown with discipline.
So if you buy a Forex trading system, look for real gains and check the logic so you can follow it with discipline.
You can buy a system and surprisingly, there are a few great free trading systems you can use that work (we like Richard Donchian’s 4 Week Rule) and they can if applied over the long term, lead you to currency trading success.
by Sonia Kristina
About the Author:
Forex Robots fail in real time trading because the vast majority are based on unsound logic and have never made any money in real time trading sure, the track records says they have but look a little closer and you will see the reality which is:
The track record is a simulation in hindsight or presented by the vendor with no independent verification.
The claims are extraordinary and are obviously not true:
Double your money each month, little or no drawdown, trade with over 90% accuracy etc and you can get access to these systems (which beat the best traders in the world) for the cost of a night out.
If you listen to the sales copy, you have to make no effort and simply make money while you sleep. Common sense tells you these systems don’t work, they simply look to good to be true and they are.
Now I am not saying you cannot make money with automated Forex software because you can – but let’s look at the reality of trading robots and leave the fantasy behind.
The reality is there are some good solid programs you can use which have made real gains and the best normally make about 50 – 100% per annum with drawdown being around 20 – 50% depending on the risk profile of the system and a typical drawdown period will last for a few weeks.
So great long term gains, if you can ride out short term drawdown with discipline.
So if you buy a Forex trading system, look for real gains and check the logic so you can follow it with discipline.
You can buy a system and surprisingly, there are a few great free trading systems you can use that work (we like Richard Donchian’s 4 Week Rule) and they can if applied over the long term, lead you to 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 28, 2009 No Comments
Forex Robots – Curve Fitting is the Reason 99% Sold Don’t Win
The vast majority of forex robots lose money and this is despite the fact they claim to have made big money. If you are wondering why they lose, its due to curve fitting. If you don’t know what it is read on.
First of all let’s reveal the truth about all those stunning track records you see with huge gains that look to good to be true well, they are. The reason they look so good is they have been designed looking backwards, testing over price action that’s happened!
That’s it – there actually made up on paper and never been traded. Track records normally carry this standard warning.
“CFTC RULE 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading….”
It then goes on for bit longer, explaining how these track records don’t indicate future profits – but that’s obvious, they are worthless – like most forex robots.
Now let’s look at why simulations never work in practice.
Some vendors don’t care if the system makes money or not – but others do and genuinely try to make it work and simulate a system but they make they end up bending the rules to fit the data and this of course wont work.
Data never repeats exactly the same again so the fact that you have bent the rules to fit one piece of data doesn’t mean it will work on another piece of data and of course, when your trading you can’t change the rules.
Any trader if they are looking at forex robots or building their own system needs to be mindful of curve fitting.
To avoid it look for the following in a track record to prove its not curve fitted. It should only have a few rules and they should be the same all the time, for all market conditions and work on all currencies in the same way.
The above will ensure a robust system but you wont find this in most of the robots you see for sale online.
Finally
Forex robots have a bad reputation – but there are some real track records out there, with good solid real gains and this means they have some results you can look at and see there potential. Don’t ever trust a forex trading system with a simulated track record, as its probably curve fitted, go for the evidence of real cash made.
by Kelly Price
About the Author:
First of all let’s reveal the truth about all those stunning track records you see with huge gains that look to good to be true well, they are. The reason they look so good is they have been designed looking backwards, testing over price action that’s happened!
That’s it – there actually made up on paper and never been traded. Track records normally carry this standard warning.
“CFTC RULE 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading….”
It then goes on for bit longer, explaining how these track records don’t indicate future profits – but that’s obvious, they are worthless – like most forex robots.
Now let’s look at why simulations never work in practice.
Some vendors don’t care if the system makes money or not – but others do and genuinely try to make it work and simulate a system but they make they end up bending the rules to fit the data and this of course wont work.
Data never repeats exactly the same again so the fact that you have bent the rules to fit one piece of data doesn’t mean it will work on another piece of data and of course, when your trading you can’t change the rules.
Any trader if they are looking at forex robots or building their own system needs to be mindful of curve fitting.
To avoid it look for the following in a track record to prove its not curve fitted. It should only have a few rules and they should be the same all the time, for all market conditions and work on all currencies in the same way.
The above will ensure a robust system but you wont find this in most of the robots you see for sale online.
Finally
Forex robots have a bad reputation – but there are some real track records out there, with good solid real gains and this means they have some results you can look at and see there potential. Don’t ever trust a forex trading system with a simulated track record, as its probably curve fitted, go for the evidence of real cash made.
by Kelly Price
About the Author:
NEW! 2 X FREE ESSENTIAL TRADER PDFS
CURRENCY RESEARCH and SYSTEMS
For free 2 x trading Pdf’s, and more on the best Forex Robots visit our website at: http://www.learncurrencytradingonline.com.
December 28, 2009 No Comments
The Reality of Making Money With Forex Robots (part 1)
When we talk about Automated Forex Systems, the temptation is to think that you pick up one of these little robots, plug it in, and suddenly cash comes rolling in.
Sounds nice, but what is the reality of creating a profit from these little bits of programmed software?
The makers of most of the Forex Robots out there are quick to boast of their track record of making profits. But if you look closely, most of these Robots have shown great success in their back-test results, but can show no evidence of their success in live trading.
The companies backing these systems expect the unsuspecting buyer to believe this evidence proves that their robots will make them real money. In reality back-tests in themselves are worthless.
I need to make myself clear here. Back-tests are worthless unless you can validate them with live trading.
One Forex Robot has been backtested for 9 years, which means it was rigorously put through over 9000 trades. Not only that, in live trading it has been consistenely winning 85 to 100% of its trades!
You might ask, “What does that mean?” Here’s my point: If you back test a Robot and it shows 100% “demo” proof month after month, it should produce around 80-100% profit in live trading.
So when you’re shopping for a Forex robot, make sure you buy one that has a real and proven track record over time in live trading. What you are looking for is a system that will build you profits for the long run.
In my next article we’ll continue to discuss the reality of making money with a Forex Robot.
by Eric Jacobson
About the Author:
Sounds nice, but what is the reality of creating a profit from these little bits of programmed software?
The makers of most of the Forex Robots out there are quick to boast of their track record of making profits. But if you look closely, most of these Robots have shown great success in their back-test results, but can show no evidence of their success in live trading.
The companies backing these systems expect the unsuspecting buyer to believe this evidence proves that their robots will make them real money. In reality back-tests in themselves are worthless.
I need to make myself clear here. Back-tests are worthless unless you can validate them with live trading.
One Forex Robot has been backtested for 9 years, which means it was rigorously put through over 9000 trades. Not only that, in live trading it has been consistenely winning 85 to 100% of its trades!
You might ask, “What does that mean?” Here’s my point: If you back test a Robot and it shows 100% “demo” proof month after month, it should produce around 80-100% profit in live trading.
So when you’re shopping for a Forex robot, make sure you buy one that has a real and proven track record over time in live trading. What you are looking for is a system that will build you profits for the long run.
In my next article we’ll continue to discuss the reality of making money with a Forex Robot.
by Eric Jacobson
About the Author:
Eric Jacobson lives and works in the foothills of the beautiful Ozark
Mountains. He has been involved in some aspect of Internet marketing
since 1999, and has been involved in trading the Forex Market for the past
3 years. He is always looking for affordable and profitable software and programs
he tell his readers about.
Forex trading isn’t just for the “Big Boys” any longer. See how a
“smart” Forex Robot can quickly put you in profit.
http://www.squidoo.com/Automatic-Forex-Investing
December 28, 2009 No Comments
Is Your Search For Free Expert Advisors Costing You Time and Money?
Automated forex trading is becoming a popular way to trade the forex and naturally there are an increasing number of people who are searching for free expert advisors. The appeal of finding an expert advisor or EA for free is obvious but what this may be costing you in time and money might not be so obvious.
Consider what you are expecting from the EA. You are putting this piece of software in charge of managing your money. This program has the potential to earn you thousands of dollars or even millions if you are a high dollar trader. It could also lose some or all of your money. So the hundred or two hundred dollars you may pay for an EA is really insignificant. Considering what is at stake here, what is most important is to find one that has a proven track record.
You can search for free expert advisors and back test them all you want but the only way to get the real results is to test them in live trading. Live testing obviously takes time so how long is it going to take you to test all these free expert advisors? In the amount of time that may take, you could buy one that already has well documented test results in live trading, tested it yourself just to make sure and it could have already made thousands of dollars for you.
You may be able to find cracked versions of the paid expert advisors but cracks are usually older versions of software. Then what happens when MetaTrader updates their platform and your EA doesn’t work any more? If you had paid for it the programmers would give you an update and you could make 1000′s of dollars in the time it would take for you to save $150 and find another crack. Not to mention that cracks and pirated software are illegal and you are easily traceable through your forex account.
If you are serious about forex trading and want to be successful then go ahead and really get serious and buy something with a proven and well documented track record instead of spinning your wheels looking for something that may save you a little but cost you a lot.
Watch the forex expert advisor that I use trade a live account.
by M Wilson
About the Author:
Consider what you are expecting from the EA. You are putting this piece of software in charge of managing your money. This program has the potential to earn you thousands of dollars or even millions if you are a high dollar trader. It could also lose some or all of your money. So the hundred or two hundred dollars you may pay for an EA is really insignificant. Considering what is at stake here, what is most important is to find one that has a proven track record.
You can search for free expert advisors and back test them all you want but the only way to get the real results is to test them in live trading. Live testing obviously takes time so how long is it going to take you to test all these free expert advisors? In the amount of time that may take, you could buy one that already has well documented test results in live trading, tested it yourself just to make sure and it could have already made thousands of dollars for you.
You may be able to find cracked versions of the paid expert advisors but cracks are usually older versions of software. Then what happens when MetaTrader updates their platform and your EA doesn’t work any more? If you had paid for it the programmers would give you an update and you could make 1000′s of dollars in the time it would take for you to save $150 and find another crack. Not to mention that cracks and pirated software are illegal and you are easily traceable through your forex account.
If you are serious about forex trading and want to be successful then go ahead and really get serious and buy something with a proven and well documented track record instead of spinning your wheels looking for something that may save you a little but cost you a lot.
Watch the forex expert advisor that I use trade a live account.
by M Wilson
About the Author:
December 27, 2009 No Comments
Profitable Forex Expert Advisor – Do Any Make Profits?
If you are looking for a profitable Forex Expert Advisor then you are in for a long search, as none deliver the gains they claim and the reason is obvious and enclosed in this article…
The name Forex Expert Advisor is used to make a Forex trading system sound grander but these systems are anything but expert; they lose money and never make the gains they claim – Why?
You can see the track records and claims of profit are too good to be true. They normally claim you can double your money each month or make 1,000% per annum etc and furthermore; you have to make no effort and get access to this great regular income for around $200 or less!
So does any Forex Expert Advisor make the gains they claim? Well try and find an independent track record of real trading results and you’re in for a long search. All you get is simulations backwards (knowing the closing prices) or a track record presented by the vendor with no audit.
You get lots of reviews which say these Robots work but these are normally affiliates selling the system and hoping to make a few dollars per sale which makes you think – if the system makes so much money, why don’t they just trade their way to a fortune and not bother to be affiliates?
If these systems really did work they wouldn’t be so cheap, as the system would be sold to a big investment house for tens or even hundreds of millions of dollars or the vendor would be making so much money, he wouldn’t bother selling it or using affiliates.
The rise of online Forex trading has seen the Forex trading open up to the little guy and these systems cater for the naïve and lazy trader, who thinks Forex trading, is easy. These traders soon learn its not, as the markets turn the Expert Advisors to dust.
If you want to make money at Forex trading, forget the sure fire easy route and do what successful traders do:
Get a good solid Forex education, learn skills, get confidence and then trade with discipline. If you do this, you can enjoy currency trading success and earn a great second or life changing income.
by Samuel Leslie Berkovits
About the Author:
The name Forex Expert Advisor is used to make a Forex trading system sound grander but these systems are anything but expert; they lose money and never make the gains they claim – Why?
You can see the track records and claims of profit are too good to be true. They normally claim you can double your money each month or make 1,000% per annum etc and furthermore; you have to make no effort and get access to this great regular income for around $200 or less!
So does any Forex Expert Advisor make the gains they claim? Well try and find an independent track record of real trading results and you’re in for a long search. All you get is simulations backwards (knowing the closing prices) or a track record presented by the vendor with no audit.
You get lots of reviews which say these Robots work but these are normally affiliates selling the system and hoping to make a few dollars per sale which makes you think – if the system makes so much money, why don’t they just trade their way to a fortune and not bother to be affiliates?
If these systems really did work they wouldn’t be so cheap, as the system would be sold to a big investment house for tens or even hundreds of millions of dollars or the vendor would be making so much money, he wouldn’t bother selling it or using affiliates.
The rise of online Forex trading has seen the Forex trading open up to the little guy and these systems cater for the naïve and lazy trader, who thinks Forex trading, is easy. These traders soon learn its not, as the markets turn the Expert Advisors to dust.
If you want to make money at Forex trading, forget the sure fire easy route and do what successful traders do:
Get a good solid Forex education, learn skills, get confidence and then trade with discipline. If you do this, you can enjoy currency trading success and earn a great second or life changing income.
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 s Successful Forex Trading Techniques visit our website at: http://www.learncurrencytradingonline.com
December 26, 2009 No Comments
Forex Expert Advisor
Before giving you the 3 reasons to use an expert advisor for trading the Forex market, let’s answer this : what is a Forex Expert Advisor ? An expert advisor is an automated system, a program that will trade automatically the forex for you. It is most of the time developed to run with MetaTrader, the trading platform, and is composed of two or three files that you just have to copy in your installation directory. Then, when you launch MetaTrader, you just have to select the expert and apply it to a chart pair, and it will start to analyze the market and trade it.
Make Huge Profits In The Forex Markets With Forex Wealth Builder
Now that you know what is an Expert Advisor, here are the reasons you may want to use one.
1. No need to be a trader.
No real experience is needed to use an expert advisor. Of course, if you want to monitor it yourself or even trade with the expert advisor running simultaneously, you are free to do so. But the advantage to stay away from your computer and do what you want is not negligible. It may be a great choice for investors who don’t have time to trade. If your not a trader, you can keep your job and let the expert run when you are not at home !
2. No emotions involved.
That’s a fact, trading emotion free is a skill every trader has to learn. Sometimes, we want to enter or exit a trade earlier or later than we should an lose money. The expert advisor is not guided by emotions, only technical analysis.
3. It’s cheap.
This is true, some expert advisors cost more than $1,000, however if you compare to the advantages it brings, it’s easy to understand that it’s not that expensive. The return on investment can be huge. Of course it will have some losing trades, but in the long run the expert advisor will be very profitable. Note that you should always be able to test the expert advisor before buying it.
A good example of Expert Advisor is RobinHood. This expert advisor trades the EUR/USD pair, and have been tested for the Automated Trading Championship 2006 and won 100% of its trade. It costs $299, but it returned a lot more.
Click For The BIG System to Making REAL MONEY on The FOREX
by Thomas
About the Author:
Make Huge Profits In The Forex Markets With Forex Wealth Builder
Now that you know what is an Expert Advisor, here are the reasons you may want to use one.
1. No need to be a trader.
No real experience is needed to use an expert advisor. Of course, if you want to monitor it yourself or even trade with the expert advisor running simultaneously, you are free to do so. But the advantage to stay away from your computer and do what you want is not negligible. It may be a great choice for investors who don’t have time to trade. If your not a trader, you can keep your job and let the expert run when you are not at home !
2. No emotions involved.
That’s a fact, trading emotion free is a skill every trader has to learn. Sometimes, we want to enter or exit a trade earlier or later than we should an lose money. The expert advisor is not guided by emotions, only technical analysis.
3. It’s cheap.
This is true, some expert advisors cost more than $1,000, however if you compare to the advantages it brings, it’s easy to understand that it’s not that expensive. The return on investment can be huge. Of course it will have some losing trades, but in the long run the expert advisor will be very profitable. Note that you should always be able to test the expert advisor before buying it.
A good example of Expert Advisor is RobinHood. This expert advisor trades the EUR/USD pair, and have been tested for the Automated Trading Championship 2006 and won 100% of its trade. It costs $299, but it returned a lot more.
Click For The BIG System to Making REAL MONEY on The FOREX
by Thomas
About the Author:
Best Forex Automatic Robot Program and other Related Resources:
- Best Professional Forex Trading Robot, Top Automated System
- Trading with an automatic Robot that doubles cash every month!
- Forex MegaDroid Indisputably Proves A Robot Can Trade With 95.82% Accuracy
December 26, 2009 No Comments
Forex Newbies – Why Not Give Forex Robots A Try?
It is extremely difficult to make a living from forex trading and getting to the stage where you can make consistent profits takes an awful lot of time and effort. In fact very few people actually manage to become successful traders, so forex robots are an ideal solution for people new to forex trading.
It took me several years of losing money and experimenting with lots of different systems before I started to consistently make money from forex trading, and it’s the same for a lot of other people as well. Very few people start making profits straight away.
Furthermore some people go through a steep learning curve and often blow a few bankrolls and still can’t devise a profitable method of trading. In fact estimates suggest that around 95% of forex traders actually lose money, so is it really worth wasting so much time and effort learning how to trade successfully, when there’s no guarantee you will be profitable at the end of it?
Well luckily you no longer need to because forex trading robots are now widely available to the general public. They used to be used exclusively by trading professionals working for large banks, but that’s not the case any more. You can now purchase complete trading robots for a very reasonable price that will place trades for you automatically. Best of all they are programmed to make winning trades using complex algorithms and technical data.
This means that you don’t need to know very much about forex trading yourself. All you do after you’ve purchased the trading robot is to set it up to work on Metatrader4, which is a charting platform used by a lot of reputable brokers, and then enter your stakes. The robot will then place trades automatically every time it’s specified trading criteria are met.
If it’s a good system, then it should hopefully make money for you, although you have to be careful about which robots you buy because they are not all as profitable as they may at first appear. All robots are capable of losing money sometimes, but if you choose one that has a solid track record over the past few years then they will often live up to their billing.
The best forex trading robots are the ones that stick to sound money management rules which means that they keep losses small and set their targets further away than the stop loss. These are the ones that have the capability of accumulating wealth over the long run, and are generally much more profitable than some of the more hyped up trading robots that are currently on the market.
by James Woolley
About the Author:
It took me several years of losing money and experimenting with lots of different systems before I started to consistently make money from forex trading, and it’s the same for a lot of other people as well. Very few people start making profits straight away.
Furthermore some people go through a steep learning curve and often blow a few bankrolls and still can’t devise a profitable method of trading. In fact estimates suggest that around 95% of forex traders actually lose money, so is it really worth wasting so much time and effort learning how to trade successfully, when there’s no guarantee you will be profitable at the end of it?
Well luckily you no longer need to because forex trading robots are now widely available to the general public. They used to be used exclusively by trading professionals working for large banks, but that’s not the case any more. You can now purchase complete trading robots for a very reasonable price that will place trades for you automatically. Best of all they are programmed to make winning trades using complex algorithms and technical data.
This means that you don’t need to know very much about forex trading yourself. All you do after you’ve purchased the trading robot is to set it up to work on Metatrader4, which is a charting platform used by a lot of reputable brokers, and then enter your stakes. The robot will then place trades automatically every time it’s specified trading criteria are met.
If it’s a good system, then it should hopefully make money for you, although you have to be careful about which robots you buy because they are not all as profitable as they may at first appear. All robots are capable of losing money sometimes, but if you choose one that has a solid track record over the past few years then they will often live up to their billing.
The best forex trading robots are the ones that stick to sound money management rules which means that they keep losses small and set their targets further away than the stop loss. These are the ones that have the capability of accumulating wealth over the long run, and are generally much more profitable than some of the more hyped up trading robots that are currently on the market.
by James Woolley
About the Author:
For reviews of individual forex trading robots please click here to read James Woolley’s Forex Tracer review and Silicon Forex review.
December 25, 2009 No Comments
