Every forex robot promotes a track record of gains and yet well over 95% failure to deliver so here is the sales copy translated so you can find out the ones that will not make money and find the minority which do …
Here is the sales copy and translation
1. A track record of spectral gains
On paper yes, in real trading not at all. Try and find a track record which does not have the worlds "simulated" and in "hindsight" on it in the risk warning – a word from experience, you will have a long search. The track records you see of $ 100,000 a year are not real dollars there paper dollars done looking back with all the facts and price data to hand. The reality of trading forex though is you do not have that luxury of knowing the closing prices.
That's why you can get financial freedom for $ 100.00 or so – its not real life though!
2. A formula that occurs and re occurs for consistent gains
The formula works once on paper and never works again and the system takes a bath. The vendor simply bends the system to fit the data (a concept known as curve fitting) and curve fitting is always the death of a trading system in real time trading, as the data never replicates itself exactly again the system fails.
3. Designed By a Boffin
Usually an ex banker, mathematician or other boffin. Why does that ensure success? Trading systems that tend to work tend to be simple and being clever or having an education mean nothing in forex trading – its results and that's it and I know plenty of simple traders who make money and plenty of clever ones that do not.
4. Earn Money Without knowing anything
You can try and earn money but if the systems worked as the vendors say, ie there is no work involved, begs the question – Why bother selling the system, why not trade it and keep quite you could make yourself a millionaire or better and not worry about a few hundred bucks from a sale.
You do not get anything in life for nothing and it's the same in forex trading
5. You have nothing to lose
On the fee maybe not, on the account probably yes!
Demo accounts (unless you want to trade them for a long time) are no real use, as you need a year to judge a system and also there is no pressure, so its not a real trading experience and after reading this article why bother, you know the facts.
Forex robots sell in there thousands and very few work and most simply fail miserably in the market and its no wonder when they have never been traded. The hypothetical track record simply is not questioned by buyers – but why not? That's the acid test and keep in mind you cant spend paper money.
If you want to make money at forex trading understand, it's not easy and you do not achieve success with no effort.
You can make gains but you need to get a solid forex education, a simple system, that's robust, logical and you understand and can trade with discipline. You are then on the road to currency trading success.