Forex Trading Robots - Pros and Cons and Cons Come Out Ahead!

By: Kelly Price

Forex trading robots are all over the internet and it's a wonder anyone works for a living, we could all be trading! This of course is not the reality, so if you are considering buying an automated trading system consider the material which is in this article first...

Let's take those tremendous track records you see well they are not all they seem. Read the warning below and you will be enlightened.

"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".

See a forex trading robot track record and you will find the above somewhere and of course it's really is not money you can spend its all tested backwards!

The real world of forex trading is trading forward and 90% or more of these robots fail miserably and wipe out equity.

These systems are simply bent to past data which of course, never repeats again in the same sequence and the system breaks destroying equity as it does so.

Anyway if they did work they we would all be rich! Pay 100 bucks and were on the road to financial freedom but life is not like that. There is a big industry that tells you forex trading is easy and its pretty clear its not, as 95% of retail traders wipe themselves out pretty quickly.

You can get good forex robots but expect to pay thousands for a decent one with a real track record - they can pay for themselves many times over but they cost.

No if you want to make money at forex trading you have to do your homework and make sure you get the right education and use it with the right mindset.

Forex trading can be learned by anyone - but requires unique skills, which are a combination of knowledge confidence and the discipline to execute a trading plan.

You can build your own forex trading system in about 2 weeks, trade it in about 30 minutes a day and make a lot of money - but understand this no one gives you nothing in this world but you probably knew that!

So get the right education a mindset to succeed and get on the road to forex trading success.

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