If you are thinking about trusting your money to one of the huge number of Forex Robots sold online, you need to read this article -Why? Because far from giving investors a regular income for a hundred dollars or so like they claim, the reality for most traders is a quick wipe out of equity, let's look at why.
When you read the sales copy of these cheap software packages, you are supposed to believe that you will make huge gains, with no effort and all for the cost of a good night out at the bar!It looks to good to be true and it is, because these Systems claim big gains with no substantiation of having made any themselves.
If you are buying a Forex trading system that claims big gains, you would expect it to actually produce some evidence, that it had made some money in real time and the numbers would be verified, by an independent third party but none of the robots do this.
You do get simulations, going backwards over past data but its easy to make a profit, when you know exactly where all the highs and lows were but this is NOT the reality of trading! The challenge of Forex trading is trying to work out where prices may go and that is not easy. These simulated back tests, mean nothing in terms of profitability and even a child can make money, knowing the closing prices in advance.
You do get some track records from the person selling the system and they claim their track records are real but don't know about you but I wouldn't want to trust figures, from the person actually selling the system, with no outside check.
Forex trading requires you make some effort to win and this is obvious, from the fact that 95% of traders lose money.
If you could make money with no effort and for spending such a small amount of money as these Forex robots charge, no one would work and we would all be trading!
These systems are sold with clever advertising copy but they don't work and common sense should tell traders this but just like sure fire gambling and horse racing systems, traders still buy them and the result is the same - these people looking to make money with no effort, quickly lose their money.
If you want to make money at Forex trading, do what all successful traders do and that's learn the basics, get confidence and you can win.
Sure, you have to make an effort but that's true in all businesses where the rewards are so high and Forex trading is no different but for the effort you have to make, the rewards can be life changing.
So before you trust your money to an automated Forex trading program, consider what I have said in this article and save your money, learn Forex trading yourself the right way, make an effort and you can enjoy currency trading success.
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