Automatic Forex Trading Systems are not trustworthy

By: Kelly Price

Automatic forex trading systems you will see them sold everywhere online telling you your going to get rich, with no effort, for a few hundred bucks however the reality is...

They have never been traded, or proven to make real time profits.

You will normally see the warning below, with the track record and if you read and digest it you will understand why most of these mechanical systems will wipeout your equity:

"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".

So you have a trading system that has never made money in real time and a good question to ask yourself is:

If it's so good why not?

The answer is of course that when you know closing prices its easy to make up a track record in fact if you couldn't you would be pretty dumb! But having the prices at your disposal is not the real world of forex trading.

Most of the system vendors have never traded in their lives - there advertising companies who will rely on clever copy to appeal to the greed of the buyer, who doesn't even think to question the fact that the track record is made up - greed blinds them, to an obvious reality - the system will lose them money.

The rewards in forex trading are high and you can make a life changing income but of course that means it's not easy - you have to do your homework and pay your dues.

The fact is anyone can learn to trade forex and be successful - but buying a mechanical trading system of the net, with a made up track record is not the way to do it.

Let's face it, if you could get rich by paying a few hundred dollars and trading these forex robots the vendor wouldn't sell it cheaply, in fact he wouldn't sell it at all, he would be to busy making money!

Leave these automatic get rich quick systems to the dreamers and losers and get yourself a proper forex education and do it the right way. If you do - you will be well rewarded for your efforts and be on the road to consistent long term forex profits.

Foreign Exchange
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 

» More on Foreign Exchange