I know if you have been involved with forex for even a little while, I am positive that you must have heard about the forex expert advisors. Quite frankly, these trading robots are garnering a lot of hype. But a lot of people are wondering if you can make money with forex expert advisors?
Well, I'd recommend that you check out some of the threads in many popular forex forums on the internet. I'm sure you'll find your answer there. I think you'll find hundreds, if not thousands of dead forum threads, where traders start demoing these expert advisors, and they can never reach long term profits.
Why do you think that's the case?
It's really quite simple. It has to do with the facts that the markets are just not programmable. Beyond that, why on earth would you let a robot do all the trading on your behalf? How about the fact that you can not trust most forex brokers.
I do not think I'm letting any secrets out when I say that many forex brokers are known for their somewhat questionable practices. I think we've all experienced stop loss hunting on our accounts.
How can you possibly trust a broker to take trades from a robot? How can you know you are getting legitimate entry and exit positions.
Also, stop and think about how much news happens during a trading day. Can you truthfully expect a forex expert advisor to be intuitive enough to be able to understand the news that comes out, much less to be able to trade it?