Forex Robots – Fact Most Destroy Trading Accounts and Do it Quickly
Forex Robots – Fact Most Destroy Trading Accounts and Do it Quickly
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Home Page > Finance > Currency Trading > Forex Robots – Fact Most Destroy Trading Accounts and Do it Quickly
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Forex Robots – Fact Most Destroy Trading Accounts and Do it Quickly
Posted: Jul 09, 2008 |Comments: 0
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Forex robots appeal to greedy and lazy traders and of course they don’t work because if they did everyone would swap their jobs for life of leisure, pay 100 dollars and enjoy financial freedom. Of course the reality of forex robot trading is a wipe out of equity here’s why.
Forex robots for all the clever marketing on the vast majority try and present one advantage which doesn’t add up in real life and that’s the track record.
The track records of most of these forex trading systems would make the world’s top traders envious if they were true, bank and brokerage dealing rooms would have no people left, just 100 buck robots making cash. Why bother with a dealer on a seven figure annual salary, when you can get better returns on 0.00 a year?
Of course the track records are not true.
When you look at a track record, you imagine it to be real money, after all you are looking for evidence that the robot makes money – that’s why your buying it but the reality is the track record is not real and this appears by it.
“CFTC RULE 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. 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”.
I think that says it all about the tack record. Now you know why traders serious about making money don’t use them.
You will often see people review these systems online and tell you how much money they have made with the system and recommending you to buy it – click their link however and you will see an affiliate deal for the system! So they have vested interest in selling it.
So if you think you can get rich easily and with no effort then, you will be sorely disappointed and really, if you thought about it, what a forex robot claims for the price charged simply doesn’t add up.
You can make a lot of money at forex trading and there are some robots that work and are proven – but don’t expect not to lose for long periods (you will thats part of forex trading) and don’t expect triple digit figures each year. If you make 30 to 50% annualized your up there with the best traders and systems.
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