“If I could only find the best Forex software out there…I’m sure I’ll be earning a full time income and I could finally quit that boring day job!”
Believe it or not, that’s how many Forex traders – newcomers and veterans in the biz think of fx robots. Unfortunately, that’s NOT the way it works! Forex isn’t about finding and downloading the best programs around, which would clear up the mysteries surrounding the currency you’re focusing on.
True, trading robots are made to help us with our daily Forex trading efforts. After all, it’s impossible for one to keep up with all of the minute-changes and updates going on at the Forex market on his own.
These pieces software are meant to keep up with the latest changes and notify you about it. With the parameters and conditions you give to it, the program will decide whether it should trade for you or not…or see if you’re about to gain or lose money from a transaction and will act accordingly.
And that brings us to an important point – it still needs input from you!
Robots, without the parameters you set, are pretty much like top-tier and high-end cars like a Ferrari. They’re beautiful, jam-packed with features, etc. BUT they’re useless without the driver.
And how are you going to manage your piece of software – adjust the options, set the parameters, deal with the features, etc. if you don’t know even a single thing about Forex or your market?
If you can’t trade successfully and profitably on your own, if you don’t have even the slightest clue about your market, then even the BEST robot out there can’t help you.
That’s NOT to say that Forex robots are useless. No, matter of fact, I’m using one of the MOST respected and widely used Forex software. These robots are useful…BUT only if you have the knowledge and understanding to back their features up.