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Forex Robots

Forex Robots

Forex Robots or Forex Expert Advisors (EA's) are big business online and many new Forex traders buy them and think there going to get rich, for spending a hundred dollars or so and making no effort but the fact is most of these trading systems lose money.

The reason the vast majority of Forex Robots lose money is they have never been traded in real time! Most present  track records that simply look to good to be true which are simply simulations going backwards knowing all the closing prices. If you see a track record that offers extraordinary profits with minimal draw down, chances are you will see this disclaimer:

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.

Of course, anyone can bend the rules of a Forex trading system in real time to fit the data and this is known as curve fitting. The problem of course is that, no two data sequences ever repeat exactly the same way again and these systems collapse in real time trading. You will also see some vendors, who present what they say are real time results but unless they have been audited by an outside source, they should be treated with caution.

Most Forex trading robots are not even devised by traders but by marketing companies who simply employ programmers to generate trading signals on past data and then sell them with clever marketing. You can get Profitable Forex Expert Advisors and there is one that has made money for over 25 years and it's free simply click the links on this page to get it.

When considering using a Forex robot as part of your Forex trading strategy, our free one is a great one to use; if you want to use one you pay for, don't believe any track record that offers you triple digit gains with no or little draw down – it's not true. To say you can make 100% gains or more with less than 5% draw down is simply not true. If you want to trade with automated Forex trading software, even the best will draw down by 30% or more, therefore you need to be prepared for this and focus on the long term.

If you do find the right Forex Robot, you will find that you have an excellent way of making long term gains in around 30 minutes a day or less.

 

 
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