Forex Robots - Be Careful the Vast Majority Will Lose Your Money and Do it Quickly Here's Why By Samuel Leslie Berkovits

If you are thinking of buying or trading a forex robot then be very careful, as well over 90% will lose you money and here are the reasons why... 1. Most Robots have Never Been Traded! Its true, you will get a lot of hyped advertising and how it trades with 90% accuracy, can make you hundreds of thousands a year etc and then when you look in the small print, you will find the statement below written on the sales copy. "CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading" So we have a system claiming it will make you rich, that it's made big profits and well the reality is, it has done nothing of the sort. It's just back testing knowing all the price history. So what use is that? The conclusion of the disclaimer makes it clear but you probably guessed already not much use at all, here you go! "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 a simulated trading program may make money but I Wouldn't risk it and traders who really think they will make regular income for spending the price of a night out at the bar, are in for a reality check. 2. You Can start with $100.00 Many robots say this and you can but what are your chances of making money on such a small amount? One run of losses and you are wiped out. If you are trading a system you are talking thousands, not hundreds. 3. The System Designer I often see how the sales copy talks about the mysterious developer ( not often named) he is an ex banker, wiz at math's or a psychologist and this is of course designed to impress but the fact is all that counts is real profits and they could be Einstein or a truck driver it doesn't matter - the proof is in the performance and it would be nice to see someone develop a robot, trade it, then audit the account trades etc and produce it as evidence, rather than meaningless back testing. The fact is these robots mostly rely on hype, attractive names and packaging Some of the names are fantastic, normally they refer to how easy it is to trade or have mean names indicating they fight - but the only winner is the market which takes equity from these systems. If these systems worked as well as they claimed, they would be beating some of the best fund managers in the world who can earn millions of dollars in salaries and fees - but haven't seen many of them sacked in favor of $100 software yet and of course this won't happen. If you want to win at forex trading either get a forex robot with a 3 year audited track record or even better, learn how to trade yourself, get the right forex education, be realistic and you can enjoy currency trading success. NEW! 2 X FREE ESSENTIAL TRADER PDFS ESSENTIAL FOREX TRADING COURSE For free 2 x trading Pdf's, with 50 of pages of essential info on Successful Currency Trading visit our website at: http://www.learncurrencytradingonline.com. Article Source: http://EzineArticles.com/?expert=Samuel_Leslie_Berkovits